Overview
Fourteen commodity futures — energy, metals and grains — with roll-optimised contracts and no K-1 tax form, the practical broad-commodity fund.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| WTI | Crude Oil futures | ~14% |
| BRENT | Brent Crude futures | ~13% |
| NG | Natural Gas futures | ~9% |
| RB/HO | Gasoline & Heating Oil | ~12% |
| GC | Gold futures | ~11% |
| SI | Silver futures | ~5% |
| HG/AL/ZN | Copper, Aluminium & Zinc | ~15% |
| W/C | Wheat & Corn futures | ~11% |
| S | Soybean complex | ~8% |
| SB | Sugar futures | ~2% |
Fund Details
Investment Thesis
PDBC fixed the two things investors hate about commodity funds: the K-1 tax form (gone — it files a 1099) and naive roll losses (its 'optimum yield' methodology picks contract months to minimise contango bleed). The +54% year — commodities' best in decades — shows the payoff of holding the asset class when inflation runs. This is the practical implementation of the same trade GSG expresses in index form.
Who It's For
Inflation hedgers who want broad commodities without tax-season pain or mechanical roll losses. The default diversified-commodity pick for taxable accounts.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $9.67 | -- |
| 2017 | $10.15 | +5.0% |
| 2018 | $8.83 | -13.0% |
| 2019 | $9.54 | +8.0% |
| 2020 | $8.77 | -8.1% |
| 2021 | $12.37 | +41.0% |
| 2022 | $14.72 | +19.0% |
| 2023 | $13.55 | -7.9% |
| 2024 | $14.09 | +4.0% |
| 2025 | $16.20 | +15.0% |
| Year | Yield |
|---|---|
| 2016 | 0.00% |
| 2017 | 0.50% |
| 2018 | 1.80% |
| 2019 | 2.40% |
| 2020 | 1.20% |
| 2021 | 0.00% |
| 2022 | 4.50% |
| 2023 | 4.20% |
| 2024 | 3.00% |
| 2025 | 2.60% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $0.5B | -- |
| 2017 | $1B | +100.0% |
| 2018 | $1.5B | +50.0% |
| 2019 | $2B | +33.3% |
| 2020 | $2.5B | +25.0% |
| 2021 | $5B | +100.0% |
| 2022 | $9B | +80.0% |
| 2023 | $5.5B | -38.9% |
| 2024 | $5B | -9.1% |
| 2025 | $6B | +20.0% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of September 2026.
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