Nasdaq is listing Invesco PowerShares’ newest new exchange-traded fund.
The new ETF, the PowerShares DB Optimum Yield Diversified Commodity Strategy Portfolio will trade under the symbol PDBC, began trading today, November 7th.
“Invesco PowerShares has enjoyed a long and successful relationship with Nasdaq,” said Dan Draper, head of Invesco PowerShares. “We’re pleased to once again work with Nasdaq for today’s listing of our newest smart beta ETF.”
PDBC expands Invesco PowerShares’ suite of smart beta exchange-traded funds to 82 portfolios. Invesco PowerShares currently offers 60 smart beta ETFs with track records greater than 5-years.
“PDBC provides broad and efficient exposure to commodities with the added benefit of eliminating Scheduled K-1 requirements,” said Lorraine Wang, Invesco PowerShares head of gobal ETF products & research. “Institutional investors allocate commodities into portfolios as an inflation hedge, and for the benefit of low correlation to stocks and bonds.”
PDBC seeks to outperform its benchmark through actively managed investments in commodity-linked futures contracts. PDBC provides exposure to components of the DBIQ Optimum Yield Diversified Commodity Index Excess Return (Benchmark) which is composed of futures contracts on 14 heavily traded commodities across the energy, precious metals, industrial metals and agriculture sectors.