Invesco's DBC and PDBC hit 52-week highs as Brent crude hits $109

Invesco's two broad commodity futures ETFs reached 52-week highs, with the actively managed Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) at $20.17 and the passive Invesco DB Commodity Index Tracking ETF (DBC) near $33.80. PDBC holds $7.9 billion in assets and DBC $2 billion, according to ETF Trends.

DBC is nearly 50% above its October 2025 low of $21.98, and PDBC is up from a low of $13.10. DBC returned 50.13% year to date and 15.84% over the past three months, the report said.

For advisors, the choice is price and paperwork: DBC charges 0.84%, PDBC charges 0.59%, a 25 bps gap, and PDBC is structured as a no-K-1 fund. VettaFi analysis cited by ETF Trends found many advisors are building dedicated real-asset sleeves of 5% to 15% rather than concentrating in a single commodity.

DBC tracks the DBIQ Optimum Yield Diversified Commodity Index Excess Return, whose 14 commodities span energy, precious metals, industrial metals and agriculture; PDBC is run to beat the same index. The report attributes the run to energy prices, with Brent crude recently at $109 a barrel, and to demand from AI infrastructure, including industrial metals and the power needed for new buildouts. It also frames the trade against a 10-year Treasury yield near 5.0%, with commodities presented as a partial answer to inflation that has not fully cooled.

Applying the stated expense ratios to the stated assets implies roughly $47 million a year in fees on PDBC, against about $17 million on DBC. The cheaper share class is also nearly four times DBC's assets.