DBA vs. BG
DBA (Invesco DB Agriculture Fund) is Agricultural Commodities fund tracking the DBIQ Diversified Agriculture Index Excess Return, while BG (Bunge Limited) is a stock. Over the past 10 years, DBA returned 4.14%/yr vs 9.82%/yr for BG. At a 0.19 correlation, their price movements are largely independent.
Performance
DBA vs. BG - Performance Comparison
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Returns By Period
In the year-to-date period, DBA achieves a 8.82% return, which is significantly lower than BG's 29.85% return. Over the past 10 years, DBA has underperformed BG with an annualized return of 4.14%, while BG has yielded a comparatively higher 9.82% annualized return.
DBA
- 1D
- 0.22%
- 1M
- 5.59%
- 6M
- 7.72%
- YTD
- 8.82%
- 1Y
- 11.65%
- 3Y*
- 13.55%
- 5Y*
- 12.19%
- 10Y*
- 4.14%
BG
- 1D
- 0.62%
- 1M
- -8.75%
- 6M
- 15.68%
- YTD
- 29.85%
- 1Y
- 53.17%
- 3Y*
- 6.89%
- 5Y*
- 11.18%
- 10Y*
- 9.82%
DBA vs. BG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DBA Invesco DB Agriculture Fund | 8.82% | -0.56% | 33.45% | 7.64% | 2.53% | 22.37% | -2.54% | -0.71% | -8.74% | -6.06% |
BG Bunge Limited | 29.85% | 18.56% | -20.74% | 3.79% | 9.28% | 46.77% | 18.92% | 11.77% | -17.99% | -4.76% |
Correlation
The correlation between DBA and BG is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 2007 | 0.19 |
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Return for Risk
DBA vs. BG — Risk / Return Rank
DBA
BG
DBA vs. BG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB Agriculture Fund (DBA) and Bunge Limited (BG). 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.
| DBA | BG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.66 | ||
| Sortino ratioReturn per unit of downside risk | -1.07 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.30 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.35 | 2.67 | -1.32 |
| Martin ratioReturn relative to average drawdown | 2.83 | 9.27 | -6.44 |
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Drawdowns
DBA vs. BG - Drawdown Comparison
The maximum DBA drawdown since its inception was -67.97%, smaller than the maximum BG drawdown of -77.34%. Use the drawdown chart below to compare losses from any high point for DBA and BG.
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Drawdown Indicators
| DBA | BG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.97% | -77.34% | +9.37% |
Max Drawdown (1Y)Largest decline over 1 year | -8.67% | -20.18% | +11.51% |
Max Drawdown (3Y)Largest decline over 3 years | -12.36% | -38.82% | +26.46% |
Max Drawdown (5Y)Largest decline over 5 years | -15.94% | -41.49% | +25.55% |
Max Drawdown (10Y)Largest decline over 10 years | -37.97% | -60.49% | +22.52% |
Current DrawdownCurrent decline from peak | -23.39% | -13.01% | -10.38% |
Average DrawdownAverage peak-to-trough decline | -41.02% | -28.83% | -12.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.12% | 5.80% | -1.68% |
Volatility
DBA vs. BG - Volatility Comparison
The current volatility for Invesco DB Agriculture Fund (DBA) is 3.88%, while Bunge Limited (BG) has a volatility of 9.66%. This indicates that DBA experiences smaller price fluctuations and is considered to be less risky than BG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBA | BG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.88% | 9.66% | -5.78% |
Volatility (6M)Calculated over the trailing 6-month period | 7.43% | 20.94% | -13.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.83% | 30.89% | -20.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.86% | 29.36% | -15.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.06% | 31.04% | -17.98% |
Dividends
DBA vs. BG - Dividend Comparison
DBA's dividend yield for the trailing twelve months is around 3.29%, more than BG's 2.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BG Bunge Limited | 2.47% | 3.12% | 3.48% | 2.55% | 2.31% | 2.76% | 3.05% | 3.48% | 3.59% | 2.62% | 2.21% | 2.11% |
DBA Invesco DB Agriculture Fund | 3.29% | 3.58% | 4.08% | 4.63% | 0.48% | 0.00% | 0.00% | 1.55% | 1.06% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DBA and BG have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BG has higher volatility (9.66%) compared to DBA (3.88%). In terms of maximum drawdown, DBA dropped -67.97% vs BG's -77.34%.
BG currently has the higher Sharpe Ratio (1.74 vs 1.08), 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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