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DBA vs. FALN
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DBA vs. FALN

Last updated Jun 4, 2026

DBA (Invesco DB Agriculture Fund) and FALN (iShares Fallen Angels USD Bond ETF) are both exchange-traded funds - DBA is a Agricultural Commodities fund tracking the DBIQ Diversified Agriculture Index TR, while FALN is a High Yield Bonds fund tracking the Bloomberg US High Yield Fallen Angel 3% Capped Index. Both are passively managed. Over the past 5 years, DBA returned 9.87%/yr vs 3.78%/yr for FALN. At a 0.12 correlation, their price movements are largely independent. DBA charges 0.94%/yr vs 0.25%/yr for FALN.

Performance

DBA vs. FALN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco DB Agriculture Fund (DBA) and iShares Fallen Angels USD Bond ETF (FALN). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, DBA achieves a 5.25% return, which is significantly higher than FALN's 1.56% 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%

FALN

1D
-0.22%
1M
0.68%
YTD
1.56%
6M
1.36%
1Y
8.66%
3Y*
9.18%
5Y*
3.78%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

DBA vs. FALN - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
FALN
iShares Fallen Angels USD Bond ETF		1.56%8.92%7.68%13.47%-13.79%5.40%14.85%17.42%-4.97%8.70%

Correlation

The correlation between DBA and FALN is 0.00, 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

0.00

Correlation (3Y)
Calculated over the trailing 3-year period

0.06

Correlation (5Y)
Calculated over the trailing 5-year period

0.08

Correlation (All Time)
Calculated using the full available price history since Jun 20, 2016

0.12

The correlation between DBA and FALN shifts across timeframes, from 0.00 (1 year) to 0.12 (all time), reflecting how their relationship changes across market environments.

DBA vs. FALN - Sectors Allocation Comparison

Sectors
DBA
FALN

Healthcare

16.8%

-

Industrials

15.2%

-

Financial Services

13.7%

-

Consumer Cyclical

11.8%

-

Basic Materials

10.7%

-

Consumer Defensive

8.8%

-

Communication Services

7.4%

-

Technology

6.3%

-

Energy

5.3%

-

Utilities

2.9%

-

Real Estate

1.1%
100.0%

Healthcare

DBA
16.8%
FALN

-

Industrials

DBA
15.2%
FALN

-

Financial Services

DBA
13.7%
FALN

-

Consumer Cyclical

DBA
11.8%
FALN

-

Basic Materials

DBA
10.7%
FALN

-

Consumer Defensive

DBA
8.8%
FALN

-

Communication Services

DBA
7.4%
FALN

-

Technology

DBA
6.3%
FALN

-

Energy

DBA
5.3%
FALN

-

Utilities

DBA
2.9%
FALN

-

Real Estate

DBA
1.1%
FALN
100.0%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco DB Agriculture Fund

iShares Fallen Angels USD Bond ETF

Often compared with DBA:
DBA vs. DBCDBA vs. MOODBA vs. SPYDBA vs. DBBDBA vs. TAGSDBA vs. BCDDBA vs. PDBA
Often compared with FALN:
FALN vs. ANGLFALN vs. HYGFALN vs. SCYBFALN vs. IMTBFALN vs. BKLNFALN vs. FLOTFALN vs. BAR

Return for Risk

DBA vs. FALN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DBA
DBA Risk / Return Rank: 1414
Overall Rank
DBA Sharpe Ratio Rank: 1414
Sharpe Ratio Rank
DBA Sortino Ratio Rank: 1313
Sortino Ratio Rank
DBA Omega Ratio Rank: 1313
Omega Ratio Rank
DBA Calmar Ratio Rank: 1515
Calmar Ratio Rank
DBA Martin Ratio Rank: 1414
Martin Ratio Rank
FALN
FALN Risk / Return Rank: 5454
Overall Rank
FALN Sharpe Ratio Rank: 5555
Sharpe Ratio Rank
FALN Sortino Ratio Rank: 5757
Sortino Ratio Rank
FALN Omega Ratio Rank: 6060
Omega Ratio Rank
FALN Calmar Ratio Rank: 4444
Calmar Ratio Rank
FALN Martin Ratio Rank: 5353
Martin Ratio Rank
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.

DBA vs. FALN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco DB Agriculture Fund (DBA) and iShares Fallen Angels USD Bond ETF (FALN). 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.

DBAFALNDifference
Sharpe ratioReturn per unit of total volatility
0.39
1.91

-1.52

Sortino ratioReturn per unit of downside risk
0.63
2.78

-2.15

Omega ratioGain probability vs. loss probability

1.07

1.37

-0.30

Calmar ratioReturn relative to maximum drawdown

0.53

2.20

-1.66

Martin ratioReturn relative to average drawdown

1.04

9.17

-8.13

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DBA vs. FALN - Sharpe Ratio Comparison

The current DBA Sharpe Ratio is 0.39, which is lower than the FALN Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of DBA and FALN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

DBAFALNDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.39

1.91

-1.52

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.71

0.52

+0.19

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

0.74

-0.66

Drawdowns

DBA vs. FALN - Drawdown Comparison

The maximum DBA drawdown since its inception was -67.97%, which is greater than FALN's maximum drawdown of -29.22%. Use the drawdown chart below to compare losses from any high point for DBA and FALN.

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Drawdown Indicators

DBAFALNDifference

Max Drawdown

Largest peak-to-trough decline

-67.97%

-29.22%

-38.75%

Max Drawdown (1Y)

Largest decline over 1 year

-7.99%

-3.96%

-4.03%

Max Drawdown (3Y)

Largest decline over 3 years

-12.36%

-5.92%

-6.44%

Max Drawdown (5Y)

Largest decline over 5 years

-15.94%

-18.78%

+2.84%

Max Drawdown (10Y)

Largest decline over 10 years

-41.16%

—

—

Current Drawdown

Current decline from peak

-25.90%

-0.26%

-25.64%

Average Drawdown

Average peak-to-trough decline

-41.11%

-3.32%

-37.79%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.07%

0.95%

+3.12%

Volatility

DBA vs. FALN - Volatility Comparison

Invesco DB Agriculture Fund (DBA) has a higher volatility of 4.17% compared to iShares Fallen Angels USD Bond ETF (FALN) at 1.38%. This indicates that DBA's price experiences larger fluctuations and is considered to be riskier than FALN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DBAFALNDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.17%

1.38%

+2.79%

Volatility (6M)

Calculated over the trailing 6-month period

6.46%

3.64%

+2.82%

Volatility (1Y)

Calculated over the trailing 1-year period

10.77%

4.54%

+6.23%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.10%

7.31%

+6.79%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

13.09%

8.95%

+4.14%

DBA vs. FALN - Expense Ratio Comparison

DBA has a 0.94% expense ratio, which is higher than FALN's 0.25% expense ratio.

Dividends

DBA vs. FALN - Dividend Comparison

DBA's dividend yield for the trailing twelve months is around 3.40%, less than FALN's 6.46% yield.

PositionTTM2025202420232022202120202019201820172016
DBA
Invesco DB Agriculture Fund		3.40%3.58%4.08%4.63%0.48%0.00%0.00%1.55%1.06%0.00%0.00%
FALN
iShares Fallen Angels USD Bond ETF		6.46%6.31%6.24%5.37%5.08%3.40%5.14%5.35%5.97%6.98%3.55%

Frequently Asked Questions

DBA and FALN have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DBA has higher volatility (4.17%) compared to FALN (1.38%). In terms of maximum drawdown, DBA dropped -67.97% vs FALN's -29.22%.

On 5-year performance, DBA leads with 9.87% vs 3.78% for FALN. On fees, FALN is cheaper at 0.25% per year. On volatility, FALN has been the lower-risk option at 1.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, DBA has performed better with a 9.87% return vs 3.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

FALN is cheaper with a 0.25% expense ratio, compared with 0.94% for DBA.

FALN has the higher dividend yield at 6.46%, compared with 3.40% for DBA.

DBA is categorized as Agricultural Commodities, while FALN is High Yield Bonds. DBA tracks DBIQ Diversified Agriculture Index TR, while FALN tracks Bloomberg US High Yield Fallen Angel 3% Capped Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.94% for DBA and 0.25% for FALN.

FALN currently has the higher Sharpe Ratio (1.91 vs 0.39), 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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