BGLD vs. DBC
BGLD (FT Vest Gold Strategy Quarterly Buffer ETF) and DBC (Invesco DB Commodity Index Tracking Fund) are both exchange-traded funds - BGLD is a Defined Outcome fund actively managed by FT Vest, while DBC is a Commodities fund tracking the DBIQ Optimum Yield Diversified Commodity Index Excess Return. BGLD is actively managed, while DBC is passively managed. Over the past 5 years, BGLD returned 10.64%/yr vs 11.29%/yr for DBC. At a 0.23 correlation, their price movements are largely independent. BGLD charges 0.91%/yr vs 0.85%/yr for DBC.
Performance
BGLD vs. DBC - Performance Comparison
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Returns By Period
In the year-to-date period, BGLD achieves a -2.58% return, which is significantly lower than DBC's 27.68% return.
BGLD
- 1D
- -0.02%
- 1M
- -3.90%
- YTD
- -2.58%
- 6M
- -3.54%
- 1Y
- 8.12%
- 3Y*
- 18.31%
- 5Y*
- 10.64%
- 10Y*
- —
DBC
- 1D
- -1.04%
- 1M
- -8.35%
- YTD
- 27.68%
- 6M
- 28.76%
- 1Y
- 30.29%
- 3Y*
- 12.92%
- 5Y*
- 11.29%
- 10Y*
- 8.27%
BGLD vs. DBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
BGLD FT Vest Gold Strategy Quarterly Buffer ETF | -2.58% | 33.03% | 21.80% | 13.24% | -2.42% | -5.53% |
DBC Invesco DB Commodity Index Tracking Fund | 27.68% | 8.10% | 2.18% | -6.19% | 19.34% | 35.29% |
Correlation
The correlation between BGLD and DBC is 0.02, 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 | 0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Jan 21, 2021 | 0.23 |
Over the past year, the correlation between BGLD and DBC has dropped to 0.02 - well below their long-term average of 0.23, suggesting their price drivers have been diverging.
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Return for Risk
BGLD vs. DBC — Risk / Return Rank
BGLD
DBC
BGLD vs. DBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FT Vest Gold Strategy Quarterly Buffer ETF (BGLD) 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.
| BGLD | DBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.09 | ||
| Sortino ratioReturn per unit of downside risk | -1.38 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.32 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.79 | 3.48 | -2.69 |
| Martin ratioReturn relative to average drawdown | 2.37 | 9.64 | -7.28 |
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Drawdowns
BGLD vs. DBC - Drawdown Comparison
The maximum BGLD drawdown since its inception was -16.19%, smaller than the maximum DBC drawdown of -76.36%. Use the drawdown chart below to compare losses from any high point for BGLD and DBC.
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Drawdown Indicators
| BGLD | DBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.19% | -76.36% | +60.17% |
Max Drawdown (1Y)Largest decline over 1 year | -11.42% | -9.91% | -1.51% |
Max Drawdown (3Y)Largest decline over 3 years | -11.42% | -13.82% | +2.40% |
Max Drawdown (5Y)Largest decline over 5 years | -15.42% | -27.34% | +11.92% |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.71% | — |
Current DrawdownCurrent decline from peak | -9.90% | -26.14% | +16.24% |
Average DrawdownAverage peak-to-trough decline | -3.67% | -46.19% | +42.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.82% | 3.57% | +0.25% |
Volatility
BGLD vs. DBC - Volatility Comparison
The current volatility for FT Vest Gold Strategy Quarterly Buffer ETF (BGLD) is 4.02%, while Invesco DB Commodity Index Tracking Fund (DBC) has a volatility of 5.20%. This indicates that BGLD 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
| BGLD | DBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.02% | 5.20% | -1.18% |
Volatility (6M)Calculated over the trailing 6-month period | 10.61% | 16.11% | -5.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.42% | 18.94% | -6.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.09% | 19.22% | -9.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.99% | 17.82% | -7.83% |
BGLD vs. DBC - Expense Ratio Comparison
BGLD has a 0.91% expense ratio, which is higher than DBC's 0.85% expense ratio.
Dividends
BGLD vs. DBC - Dividend Comparison
BGLD's dividend yield for the trailing twelve months is around 45.50%, more than DBC's 2.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BGLD FT Vest Gold Strategy Quarterly Buffer ETF | 45.50% | 44.32% | 25.04% | 10.49% | 0.40% | 0.00% | 0.00% | 0.00% | 0.00% |
DBC Invesco DB Commodity Index Tracking Fund | 2.61% | 3.33% | 5.22% | 4.94% | 0.59% | 0.00% | 0.00% | 1.59% | 1.30% |
Frequently Asked Questions
BGLD and DBC have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBC has higher volatility (5.20%) compared to BGLD (4.02%). In terms of maximum drawdown, BGLD dropped -16.19% vs DBC's -76.36%.
On 5-year performance, DBC leads with 11.29% vs 10.64% for BGLD. On fees, DBC is cheaper at 0.85% per year. On volatility, BGLD has been the lower-risk option at 4.02%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DBC has performed better with a 11.29% return vs 10.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DBC is cheaper with a 0.85% expense ratio, compared with 0.91% for BGLD.
BGLD has the higher dividend yield at 45.50%, compared with 2.61% for DBC.
BGLD is categorized as Defined Outcome, while DBC is Commodities. They also come from different issuers: FT Vest and Invesco. Their fees differ too: 0.91% for BGLD and 0.85% for DBC.
DBC currently has the higher Sharpe Ratio (1.82 vs 0.73), 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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