In the early weeks of 2026, the financial landscape has shifted from a focus on digital growth to a scramble for physical assets. As the U.S. dollar continues its decline, plummeting to levels not seen since the early pandemic era, commodities have emerged as the primary beneficiary.
For the do-it-yourself investor, however, the commodity market has historically been a minefield of complex tax structures — specifically the K-1 partnership form. This form often arrives late in the tax season, forcing investors to file for extensions and pay higher accounting fees.
The Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF (PDBC) solves this problem by using a unique C-Corp structure that provides broad commodity exposure while issuing a standard 1099 form, making it as easy to own as a regular stock.
PDBC is currently sitting near multi-year highs, driven by a powerful confluence of macro factors. As of late January 2026, the fund has posted a year-to-date gain of over 6%, building on a robust performance throughout 2025. More importantly to me, that chart above is one that is, shall we say, “priced to move.” It looks higher, at least toward $17. When I see a chart with a rising PPO, 20-week moving average positive, and room to hit its former high, I inch up in my chair.
PDBC’s portfolio is an actively managed basket of the world’s most heavily traded commodities, including energy, industrial metals, precious metals, and agriculture. In the current environment, the energy and industrial metal components are doing the heavy lifting. With the Silicon Renaissance in full swing, demand for copper, aluminum, and nickel — essential for artificial intelligence (AI) data centers and the global electrification push — is far outstripping supply. Meanwhile, agricultural commodities like wheat and corn are seeing renewed interest as geopolitical instability in Eastern Europe and South America threatens global supply chains.
For those interested in getting a piece of a potentially ongoing boom in the prices of gold and silver, PDBC holds more of those than it used to. But they still only combine for 16% of the total assets of the exchange traded fund (ETF).
