DBA vs. DJCB
DBA (Invesco DB Agriculture Fund) and DJCB (ETRACS Bloomberg Commodity Index Total Return ETN Series B) are both exchange-traded funds - DBA is a Agricultural Commodities fund tracking the DBIQ Diversified Agriculture Index TR, while DJCB is a Commodities fund tracking the Bloomberg Commodity Index. Both are passively managed. At a 0.41 correlation, their price movements are largely independent. DBA charges 0.94%/yr vs 0.50%/yr for DJCB.
Performance
DBA vs. DJCB - Performance Comparison
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Returns By Period
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%
DJCB
- 1D
- —
- 1M
- —
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DBA vs. DJCB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
DBA Invesco DB Agriculture Fund | 5.25% | -0.56% | 33.45% | 7.64% | 2.53% | 22.37% | -2.54% | 5.92% |
DJCB ETRACS Bloomberg Commodity Index Total Return ETN Series B | 0.00% | 0.00% | 3.39% | -8.96% | 16.39% | 28.75% | -3.90% | 2.27% |
Correlation
The correlation between DBA and DJCB is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Oct 28, 2019 | 0.41 |
The correlation between DBA and DJCB shifts across timeframes, from 0.16 (3 years) to 0.41 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DBA vs. DJCB — Risk / Return Rank
DBA
DJCB
DBA vs. DJCB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB Agriculture Fund (DBA) and ETRACS Bloomberg Commodity Index Total Return ETN Series B (DJCB). 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 | DJCB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.07 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 0.53 | — | — |
| Martin ratioReturn relative to average drawdown | 1.04 | — | — |
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 | DJCB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.39 | — | — |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.71 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.27 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.08 | — | — |
Drawdowns
DBA vs. DJCB - Drawdown Comparison
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Drawdown Indicators
| DBA | DJCB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.97% | — | — |
Max Drawdown (1Y)Largest decline over 1 year | -7.99% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -12.36% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -15.94% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -41.16% | — | — |
Current DrawdownCurrent decline from peak | -25.90% | — | — |
Average DrawdownAverage peak-to-trough decline | -41.11% | — | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.07% | — | — |
Volatility
DBA vs. DJCB - Volatility Comparison
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Volatility by Period
| DBA | DJCB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.17% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 6.46% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 10.77% | — | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.10% | — | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.09% | — | — |
DBA vs. DJCB - Expense Ratio Comparison
DBA has a 0.94% expense ratio, which is higher than DJCB's 0.50% expense ratio.
Dividends
DBA vs. DJCB - Dividend Comparison
DBA's dividend yield for the trailing twelve months is around 3.40%, while DJCB has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBA Invesco DB Agriculture Fund | 3.40% | 3.58% | 4.08% | 4.63% | 0.48% | 0.00% | 0.00% | 1.55% | 1.06% |
DJCB ETRACS Bloomberg Commodity Index Total Return ETN Series B | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DBA and DJCB have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DJCB is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DJCB is cheaper with a 0.50% expense ratio, compared with 0.94% for DBA.
DBA has the higher dividend yield at 3.40%, compared with 0.00% for DJCB.
DBA is categorized as Agricultural Commodities, while DJCB is Commodities. DBA tracks DBIQ Diversified Agriculture Index TR, while DJCB tracks Bloomberg Commodity Index. They also come from different issuers: Invesco and UBS. Their fees differ too: 0.94% for DBA and 0.50% for DJCB.
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