AU vs. DBC
AU (AngloGold Ashanti Limited) 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, AU returned 21.09%/yr vs 9.10%/yr for DBC. At a 0.30 correlation, their price movements are largely independent.
Performance
AU vs. DBC - Performance Comparison
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Returns By Period
In the year-to-date period, AU achieves a 8.43% return, which is significantly lower than DBC's 35.47% return. Over the past 10 years, AU has outperformed DBC with an annualized return of 21.09%, while DBC has yielded a comparatively lower 9.10% annualized return.
AU
- 1D
- -2.18%
- 1M
- 0.28%
- YTD
- 8.43%
- 6M
- 10.68%
- 1Y
- 104.16%
- 3Y*
- 59.13%
- 5Y*
- 34.87%
- 10Y*
- 21.09%
DBC
- 1D
- 0.56%
- 1M
- -3.32%
- YTD
- 35.47%
- 6M
- 35.36%
- 1Y
- 45.90%
- 3Y*
- 15.09%
- 5Y*
- 12.78%
- 10Y*
- 9.10%
AU vs. DBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AU AngloGold Ashanti Limited | 8.43% | 288.18% | 25.43% | -2.68% | -5.09% | -4.87% | 1.90% | 78.89% | 23.96% | -2.23% |
DBC Invesco DB Commodity Index Tracking Fund | 35.47% | 8.10% | 2.18% | -6.19% | 19.34% | 41.36% | -7.84% | 11.84% | -11.63% | 4.86% |
Correlation
The correlation between AU and DBC is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.23 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.19 |
Correlation (All Time) Calculated using the full available price history since Feb 7, 2006 | 0.30 |
Over the past year, the correlation between AU and DBC has dropped to 0.01 - well below their long-term average of 0.30, suggesting their price drivers have been diverging.
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Return for Risk
AU vs. DBC — Risk / Return Rank
AU
DBC
AU vs. DBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AngloGold Ashanti Limited (AU) 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.
| AU | DBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.63 | ||
| Sortino ratioReturn per unit of downside risk | -0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.43 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.86 | 6.54 | -3.68 |
| Martin ratioReturn relative to average drawdown | 8.05 | 13.91 | -5.86 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AU | DBC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.84 | 2.47 | -0.63 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.72 | 0.67 | +0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.43 | 0.51 | -0.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.15 | 0.12 | +0.03 |
Drawdowns
AU vs. DBC - Drawdown Comparison
The maximum AU drawdown since its inception was -90.12%, which is greater than DBC's maximum drawdown of -76.36%. Use the drawdown chart below to compare losses from any high point for AU and DBC.
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Drawdown Indicators
| AU | DBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.12% | -76.36% | -13.76% |
Max Drawdown (1Y)Largest decline over 1 year | -36.59% | -7.05% | -29.54% |
Max Drawdown (3Y)Largest decline over 3 years | -38.86% | -13.82% | -25.04% |
Max Drawdown (5Y)Largest decline over 5 years | -51.75% | -27.34% | -24.41% |
Max Drawdown (10Y)Largest decline over 10 years | -67.91% | -41.71% | -26.20% |
Current DrawdownCurrent decline from peak | -27.90% | -21.64% | -6.26% |
Average DrawdownAverage peak-to-trough decline | -46.09% | -46.22% | +0.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.98% | 3.31% | +9.67% |
Volatility
AU vs. DBC - Volatility Comparison
AngloGold Ashanti Limited (AU) has a higher volatility of 19.79% compared to Invesco DB Commodity Index Tracking Fund (DBC) at 6.45%. This indicates that AU's price experiences larger fluctuations and is considered to be riskier 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
| AU | DBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.79% | 6.45% | +13.34% |
Volatility (6M)Calculated over the trailing 6-month period | 44.76% | 15.75% | +29.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.08% | 18.68% | +38.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 48.84% | 19.18% | +29.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.65% | 17.81% | +31.84% |
Dividends
AU vs. DBC - Dividend Comparison
AU's dividend yield for the trailing twelve months is around 5.12%, more than DBC's 2.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
AU AngloGold Ashanti Limited | 5.12% | 2.96% | 1.78% | 1.14% | 2.26% | 2.58% | 0.49% | 0.30% | 0.48% | 0.93% |
DBC Invesco DB Commodity Index Tracking Fund | 2.46% | 3.33% | 5.22% | 4.94% | 0.59% | 0.00% | 0.00% | 1.59% | 1.30% | 0.00% |
Frequently Asked Questions
AU and DBC have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AU has higher volatility (19.79%) compared to DBC (6.45%). In terms of maximum drawdown, AU dropped -90.12% vs DBC's -76.36%.
DBC currently has the higher Sharpe Ratio (2.47 vs 1.84), 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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