BNDP vs. DBC

Last updated Jun 3, 2026

BNDP (Vanguard Core-Plus Bond Index ETF) and DBC (Invesco DB Commodity Index Tracking Fund) are both exchange-traded funds - BNDP is a Intermediate Core-Plus Bond fund tracking the Bloomberg U.S. Universal Float Adjusted Index, while DBC is a Commodities fund tracking the DBIQ Optimum Yield Diversified Commodity Index Excess Return. Both are passively managed. At a correlation of -0.46, they often move in opposite directions. BNDP charges 0.05%/yr vs 0.85%/yr for DBC.

Performance

BNDP vs. DBC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Core-Plus Bond Index ETF (BNDP) and Invesco DB Commodity Index Tracking Fund (DBC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BNDP achieves a 0.42% return, which is significantly lower than DBC's 34.70% return.

BNDP

• 1D: 0.11%
• 1M: 0.13%
• YTD: 0.42%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DBC

• 1D: 0.43%
• 1M: -2.24%
• YTD: 34.70%
• 6M: 35.25%
• 1Y: 46.03%
• 3Y*: 14.87%
• 5Y*: 12.90%
• 10Y*: 9.04%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BNDP vs. DBC - Yearly Performance Comparison

	2026 (YTD)	2025
BNDP Vanguard Core-Plus Bond Index ETF	0.42%	0.10%
DBC Invesco DB Commodity Index Tracking Fund	34.70%	-0.33%

Correlation

The correlation between BNDP and DBC is -0.46, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 5, 2025	-0.46

Return for Risk

BNDP vs. DBC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DBC

DBC Risk / Return Rank: 77
DBC Sharpe Ratio Rank: 75
DBC Sortino Ratio Rank: 68
DBC Omega Ratio Rank: 71
DBC Calmar Ratio Rank: 94
DBC Martin Ratio Rank: 76

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BNDP vs. DBC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Core-Plus Bond Index ETF (BNDP) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	BNDP	DBC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.48	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.68	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.51	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	0.12	+0.18

Drawdowns

BNDP vs. DBC - Drawdown Comparison

The maximum BNDP drawdown since its inception was -2.60%, smaller than the maximum DBC drawdown of -76.36%. Use the drawdown chart below to compare losses from any high point for BNDP and DBC.

Drawdown Indicators

	BNDP	DBC	Difference
Max Drawdown Largest peak-to-trough decline	-2.60%	-76.36%	+73.76%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.05%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-13.82%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-27.34%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.71%	—
Current Drawdown Current decline from peak	-1.23%	-22.08%	+20.85%
Average Drawdown Average peak-to-trough decline	-0.86%	-46.22%	+45.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.30%	—

Volatility

Volatility by Period

	BNDP	DBC	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.67%	—
Volatility (6M) Calculated over the trailing 6-month period	—	15.75%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.65%	18.78%	-15.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.65%	19.18%	-15.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.65%	17.81%	-14.16%

BNDP vs. DBC - Expense Ratio Comparison

BNDP has a 0.05% expense ratio, which is lower than DBC's 0.85% expense ratio.

Dividends

BNDP vs. DBC - Dividend Comparison

BNDP's dividend yield for the trailing twelve months is around 2.08%, less than DBC's 2.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BNDP Vanguard Core-Plus Bond Index ETF	2.08%	0.24%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DBC Invesco DB Commodity Index Tracking Fund	2.47%	3.33%	5.22%	4.94%	0.59%	0.00%	0.00%	1.59%	1.30%

Frequently Asked Questions

Can I hold both BNDP and DBC in my portfolio?

BNDP and DBC have a correlation of -0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, BNDP or DBC?

On fees, BNDP is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BNDP or DBC?

BNDP is cheaper with a 0.05% expense ratio, compared with 0.85% for DBC.

Which ETF pays a higher dividend yield, BNDP or DBC?

DBC has the higher dividend yield at 2.47%, compared with 2.08% for BNDP.

What is the main difference between BNDP and DBC?

BNDP is categorized as Intermediate Core-Plus Bond, while DBC is Commodities. BNDP tracks Bloomberg U.S. Universal Float Adjusted Index, while DBC tracks DBIQ Optimum Yield Diversified Commodity Index Excess Return. They also come from different issuers: Vanguard and Invesco. Their fees differ too: 0.05% for BNDP and 0.85% for DBC.