ARCC vs. DBC
ARCC (Ares Capital Corporation) is a stock, while DBC (Invesco DB Commodity Index Tracking Fund) is Commodities fund tracking the DBIQ Optimum Yield Diversified Commodity Index Excess Return. Over the past 10 years, ARCC returned 12.32%/yr vs 9.05%/yr for DBC. Their 0.21 correlation means their historical movements had little consistent relationship.
Performance
ARCC vs. DBC - Performance Comparison
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Returns By Period
In the year-to-date period, ARCC achieves a -0.17% return, which is significantly lower than DBC's 29.16% return. Over the past 10 years, ARCC has outperformed DBC with an annualized return of 12.32%, while DBC has yielded a comparatively lower 9.05% annualized return.
ARCC
- 1D
- 2.19%
- 1M
- 2.35%
- 6M
- 3.47%
- YTD
- -0.17%
- 1Y
- -5.64%
- 3Y*
- 9.14%
- 5Y*
- 9.13%
- 10Y*
- 12.32%
- ALL TIME*
- 12.08%
DBC
- 1D
- -1.94%
- 1M
- 8.69%
- 6M
- 22.68%
- YTD
- 29.16%
- 1Y
- 35.14%
- 3Y*
- 10.50%
- 5Y*
- 11.93%
- 10Y*
- 9.05%
- ALL TIME*
- 1.95%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $82.65M | $85.21M | $94.25M | |
| $29.57M | $30.05M | $33.92M |
ARCC vs. DBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ARCC Ares Capital Corporation | -0.17% | 1.07% | 19.78% | 20.03% | -3.84% | 36.14% | 0.86% | 31.30% | 8.81% | 4.50% |
DBC Invesco DB Commodity Index Tracking Fund | 29.16% | 8.10% | 2.18% | -6.19% | 19.34% | 41.36% | -7.84% | 11.84% | -11.63% | 4.86% |
Correlation
The correlation between ARCC and DBC is -0.16, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.16 |
Correlation (3Y) Balances recent behavior with more history. | 0.03 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.15 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.16 |
Correlation (All Time) Calculated using the full available price history since Feb 6, 2006 | 0.21 |
The correlation between ARCC and DBC shifts across timeframes, from -0.16 (1 year) to 0.21 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ARCC vs. DBC — Risk / Return Rank
ARCC
DBC
ARCC vs. DBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ares Capital Corporation (ARCC) and Invesco DB Commodity Index Tracking Fund (DBC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ARCC | DBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.10 | ||
| Sortino ratioReturn per unit of downside risk | -2.70 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.30 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.33 | 2.13 | -2.46 |
| Martin ratioReturn relative to average drawdown | -0.59 | 7.07 | -7.66 |
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Drawdowns
ARCC vs. DBC - Drawdown Comparison
The maximum ARCC drawdown since its inception was -79.36%, roughly equal to the maximum DBC drawdown of -76.36%. Use the drawdown chart below to compare losses from any high point for ARCC and DBC.
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Drawdown Indicators
| ARCC | DBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.36% | -76.36% | -3.00% |
Max Drawdown (1Y)Largest decline over 1 year | -17.35% | -16.54% | -0.81% |
Max Drawdown (3Y)Largest decline over 3 years | -19.35% | -16.54% | -2.81% |
Max Drawdown (5Y)Largest decline over 5 years | -21.76% | -27.34% | +5.58% |
Max Drawdown (10Y)Largest decline over 10 years | -56.77% | -41.71% | -15.06% |
Current DrawdownCurrent decline from peak | -9.13% | -25.28% | +16.15% |
Average DrawdownAverage peak-to-trough decline | -9.12% | -46.07% | +36.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.52% | 4.99% | +4.53% |
Volatility
ARCC vs. DBC - Volatility Comparison
The current volatility for Ares Capital Corporation (ARCC) is 4.82%, while Invesco DB Commodity Index Tracking Fund (DBC) has a volatility of 7.43%. This indicates that ARCC experiences smaller price fluctuations and is considered to be less risky than DBC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ARCC | DBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.82% | 7.43% | -2.61% |
Volatility (6M)Calculated over the trailing 6-month period | 14.88% | 17.09% | -2.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.00% | 19.63% | -0.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.00% | 19.33% | +0.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.59% | 17.88% | +7.71% |
Dividends
ARCC vs. DBC - Dividend Comparison
ARCC's dividend yield for the trailing twelve months is around 10.02%, more than DBC's 2.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ARCC Ares Capital Corporation | 10.02% | 9.49% | 8.77% | 9.59% | 10.12% | 7.65% | 9.47% | 9.01% | 9.88% | 9.67% | 9.22% | 11.02% |
DBC Invesco DB Commodity Index Tracking Fund | 2.58% | 3.33% | 5.22% | 4.94% | 0.59% | 0.00% | 0.00% | 1.59% | 1.30% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ARCC and DBC have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBC has higher volatility (7.43%) compared to ARCC (4.82%). In terms of maximum drawdown, ARCC dropped -79.36% vs DBC's -76.36%.
DBC currently has the higher Sharpe Ratio (1.80 vs -0.30), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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