BCD vs. DBA
BCD (abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF) and DBA (Invesco DB Agriculture Fund) are both exchange-traded funds - BCD is a Commodities fund tracking the Bloomberg Commodity Index 3 Month Forward Total Return, while DBA is a Agricultural Commodities fund tracking the DBIQ Diversified Agriculture Index Excess Return. Both are passively managed. Over the past 5 years, BCD returned 10.65%/yr vs 10.82%/yr for DBA. Their 0.48 correlation means their historical movements had little consistent relationship. BCD charges 0.30%/yr vs 0.88%/yr for DBA.
Performance
BCD vs. DBA - Performance Comparison
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Returns By Period
In the year-to-date period, BCD achieves a 16.41% return, which is significantly higher than DBA's 7.80% return.
BCD
- 1D
- -0.06%
- 1M
- 5.50%
- 6M
- 7.33%
- YTD
- 16.41%
- 1Y
- 28.51%
- 3Y*
- 10.83%
- 5Y*
- 10.65%
- 10Y*
- —
- ALL TIME*
- 8.82%
DBA
- 1D
- 0.11%
- 1M
- 2.88%
- 6M
- 7.21%
- YTD
- 7.80%
- 1Y
- 11.03%
- 3Y*
- 12.21%
- 5Y*
- 10.82%
- 10Y*
- 4.57%
- ALL TIME*
- 1.46%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.39M | $1.55M | $2.26M | |
| $21.27M | $23.75M | $33.82M |
BCD vs. DBA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BCD abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF | 16.41% | 15.71% | 6.20% | -7.58% | 18.38% | 31.87% | 4.76% | 7.34% | -8.65% | 3.83% |
DBA Invesco DB Agriculture Fund | 7.80% | -0.56% | 33.45% | 7.64% | 2.53% | 22.37% | -2.54% | -0.71% | -8.74% | -4.82% |
Correlation
The correlation between BCD and DBA is 0.45, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.45 |
Correlation (3Y) Balances recent behavior with more history. | 0.37 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.48 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2017 | 0.48 |
The correlation between BCD and DBA shifts across timeframes, from 0.37 (3 years) to 0.48 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
BCD vs. DBA — Risk / Return Rank
BCD
DBA
BCD vs. DBA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF (BCD) and Invesco DB Agriculture Fund (DBA). 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.
| BCD | DBA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.08 | ||
| Sortino ratioReturn per unit of downside risk | +1.27 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.17 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 2.22 | 1.16 | +1.06 |
| Martin ratioReturn relative to average drawdown | 7.25 | 2.40 | +4.85 |
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Drawdowns
BCD vs. DBA - Drawdown Comparison
The maximum BCD drawdown since its inception was -29.81%, smaller than the maximum DBA drawdown of -67.97%. Use the drawdown chart below to compare losses from any high point for BCD and DBA.
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Drawdown Indicators
| BCD | DBA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.81% | -67.97% | +38.16% |
Max Drawdown (1Y)Largest decline over 1 year | -12.70% | -8.67% | -4.03% |
Max Drawdown (3Y)Largest decline over 3 years | -12.70% | -12.36% | -0.34% |
Max Drawdown (5Y)Largest decline over 5 years | -23.03% | -15.94% | -7.09% |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.64% | — |
Current DrawdownCurrent decline from peak | -6.83% | -24.11% | +17.28% |
Average DrawdownAverage peak-to-trough decline | -9.83% | -40.97% | +31.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.88% | 4.19% | -0.31% |
Volatility
BCD vs. DBA - Volatility Comparison
The current volatility for abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF (BCD) is 3.93%, while Invesco DB Agriculture Fund (DBA) has a volatility of 4.72%. This indicates that BCD experiences smaller price fluctuations and is considered to be less risky than DBA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BCD | DBA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.93% | 4.72% | -0.79% |
Volatility (6M)Calculated over the trailing 6-month period | 11.95% | 8.10% | +3.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.22% | 11.12% | +3.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.36% | 13.78% | +1.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.91% | 13.05% | +0.86% |
BCD vs. DBA - Expense Ratio Comparison
BCD has a 0.30% expense ratio, which is lower than DBA's 0.88% expense ratio.
Dividends
BCD vs. DBA - Dividend Comparison
BCD's dividend yield for the trailing twelve months is around 14.79%, more than DBA's 3.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BCD abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF | 14.79% | 17.21% | 3.60% | 4.51% | 5.21% | 8.30% | 1.29% | 1.55% | 1.59% | 0.07% |
DBA Invesco DB Agriculture Fund | 3.32% | 3.58% | 4.08% | 4.63% | 0.48% | 0.00% | 0.00% | 1.55% | 1.06% | 0.00% |
Frequently Asked Questions
BCD and DBA have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBA has higher volatility (4.72%) compared to BCD (3.93%). In terms of maximum drawdown, BCD dropped -29.81% vs DBA's -67.97%.
On 5-year performance, DBA leads with 10.82% vs 10.65% for BCD. On fees, BCD is cheaper at 0.30% per year. On volatility, BCD has been the lower-risk option at 3.93%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DBA has performed better with a 10.82% return vs 10.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BCD is cheaper with a 0.30% expense ratio, compared with 0.88% for DBA.
BCD has the higher dividend yield at 14.79%, compared with 3.32% for DBA.
BCD is categorized as Commodities, while DBA is Agricultural Commodities. BCD tracks Bloomberg Commodity Index 3 Month Forward Total Return, while DBA tracks DBIQ Diversified Agriculture Index Excess Return. They also come from different issuers: Aberdeen and Invesco. Their fees differ too: 0.30% for BCD and 0.88% for DBA.
BCD currently has the higher Sharpe Ratio (1.98 vs 0.91), 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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