DBA vs. CANE
DBA (Invesco DB Agriculture Fund) and CANE (Teucrium Sugar Fund) are both Agricultural Commodities funds - DBA tracks the DBIQ Diversified Agriculture Index TR while CANE tracks the Teucrium Sugar Fund Benchmark. Both are passively managed. Over the past 10 years, DBA returned 3.54%/yr vs -2.23%/yr for CANE. At a 0.41 correlation, their price movements are largely independent. DBA charges 0.94%/yr vs 1.88%/yr for CANE.
Performance
DBA vs. CANE - Performance Comparison
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Returns By Period
In the year-to-date period, DBA achieves a 5.25% return, which is significantly higher than CANE's -0.77% return. Over the past 10 years, DBA has outperformed CANE with an annualized return of 3.54%, while CANE has yielded a comparatively lower -2.23% annualized return.
DBA
- 1D
- -0.96%
- 1M
- -5.05%
- YTD
- 5.25%
- 6M
- 5.49%
- 1Y
- 4.23%
- 3Y*
- 13.20%
- 5Y*
- 9.87%
- 10Y*
- 3.54%
CANE
- 1D
- -1.02%
- 1M
- -5.56%
- YTD
- -0.77%
- 6M
- 0.83%
- 1Y
- -14.28%
- 3Y*
- -10.43%
- 5Y*
- 2.90%
- 10Y*
- -2.23%
DBA vs. CANE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DBA Invesco DB Agriculture Fund | 5.25% | -0.56% | 33.45% | 7.64% | 2.53% | 22.37% | -2.54% | -0.71% | -8.74% | -6.06% |
CANE Teucrium Sugar Fund | -0.77% | -14.65% | -7.79% | 30.06% | 3.59% | 36.30% | -3.85% | -0.97% | -27.52% | -24.76% |
Correlation
The correlation between DBA and CANE is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.44 |
Correlation (All Time) Calculated using the full available price history since Sep 20, 2011 | 0.41 |
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Return for Risk
DBA vs. CANE — Risk / Return Rank
DBA
CANE
DBA vs. CANE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB Agriculture Fund (DBA) and Teucrium Sugar Fund (CANE). 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.
| DBA | CANE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.09 | ||
| Sortino ratioReturn per unit of downside risk | +1.53 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 0.90 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.53 | -0.72 | +1.25 |
| Martin ratioReturn relative to average drawdown | 1.04 | -1.18 | +2.22 |
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
| DBA | CANE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.39 | -0.69 | +1.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.71 | 0.14 | +0.57 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.27 | -0.10 | +0.37 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.08 | -0.26 | +0.34 |
Drawdowns
DBA vs. CANE - Drawdown Comparison
The maximum DBA drawdown since its inception was -67.97%, smaller than the maximum CANE drawdown of -81.30%. Use the drawdown chart below to compare losses from any high point for DBA and CANE.
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Drawdown Indicators
| DBA | CANE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.97% | -81.30% | +13.33% |
Max Drawdown (1Y)Largest decline over 1 year | -7.99% | -19.89% | +11.90% |
Max Drawdown (3Y)Largest decline over 3 years | -12.36% | -41.73% | +29.37% |
Max Drawdown (5Y)Largest decline over 5 years | -15.94% | -41.73% | +25.79% |
Max Drawdown (10Y)Largest decline over 10 years | -41.16% | -67.29% | +26.13% |
Current DrawdownCurrent decline from peak | -25.90% | -63.21% | +37.31% |
Average DrawdownAverage peak-to-trough decline | -41.11% | -56.50% | +15.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.07% | 12.35% | -8.28% |
Volatility
DBA vs. CANE - Volatility Comparison
The current volatility for Invesco DB Agriculture Fund (DBA) is 4.17%, while Teucrium Sugar Fund (CANE) has a volatility of 6.85%. This indicates that DBA experiences smaller price fluctuations and is considered to be less risky than CANE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBA | CANE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.17% | 6.85% | -2.68% |
Volatility (6M)Calculated over the trailing 6-month period | 6.46% | 15.81% | -9.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.77% | 20.69% | -9.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.10% | 21.07% | -6.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.09% | 21.72% | -8.63% |
DBA vs. CANE - Expense Ratio Comparison
DBA has a 0.94% expense ratio, which is lower than CANE's 1.88% expense ratio.
Dividends
DBA vs. CANE - Dividend Comparison
DBA's dividend yield for the trailing twelve months is around 3.40%, while CANE has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
CANE Teucrium Sugar Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
DBA Invesco DB Agriculture Fund | 3.40% | 3.58% | 4.08% | 4.63% | 0.48% | 0.00% | 0.00% | 1.55% | 1.06% |
Frequently Asked Questions
DBA and CANE have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CANE has higher volatility (6.85%) compared to DBA (4.17%). In terms of maximum drawdown, DBA dropped -67.97% vs CANE's -81.30%.
On 10-year performance, DBA leads with 3.54% vs -2.23% for CANE. On fees, DBA is cheaper at 0.94% per year. On volatility, DBA has been the lower-risk option at 4.17%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DBA has performed better with a 3.54% return vs -2.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DBA is cheaper with a 0.94% expense ratio, compared with 1.88% for CANE.
DBA has the higher dividend yield at 3.40%, compared with 0.00% for CANE.
DBA tracks DBIQ Diversified Agriculture Index TR, while CANE tracks Teucrium Sugar Fund Benchmark. They also come from different issuers: Invesco and Teucrium. Their fees differ too: 0.94% for DBA and 1.88% for CANE.
DBA currently has the higher Sharpe Ratio (0.39 vs -0.69), 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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