DBA vs. MOO
DBA (Invesco DB Agriculture Fund) and MOO (VanEck Agribusiness ETF) are both exchange-traded funds - DBA is a Agricultural Commodities fund tracking the DBIQ Diversified Agriculture Index Excess Return, while MOO is a Natural Resources fund tracking the MVIS Global Agribusiness Index. Both are passively managed. Over the past 10 years, DBA returned 3.53%/yr vs 7.45%/yr for MOO. At a 0.30 correlation, their price movements are largely independent. DBA charges 0.88%/yr vs 0.56%/yr for MOO.
Performance
DBA vs. MOO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, DBA achieves a 4.78% return, which is significantly lower than MOO's 11.16% return. Over the past 10 years, DBA has underperformed MOO with an annualized return of 3.53%, while MOO has yielded a comparatively higher 7.45% annualized return.
DBA
- 1D
- -0.45%
- 1M
- 0.19%
- 6M
- 4.62%
- YTD
- 4.78%
- 1Y
- 7.01%
- 3Y*
- 12.27%
- 5Y*
- 10.55%
- 10Y*
- 3.53%
MOO
- 1D
- 2.43%
- 1M
- 0.83%
- 6M
- 9.81%
- YTD
- 11.16%
- 1Y
- 9.97%
- 3Y*
- 2.35%
- 5Y*
- -0.18%
- 10Y*
- 7.45%
DBA vs. MOO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DBA Invesco DB Agriculture Fund | 4.78% | -0.56% | 33.45% | 7.64% | 2.53% | 22.37% | -2.54% | -0.71% | -8.74% | -6.06% |
MOO VanEck Agribusiness ETF | 11.16% | 15.61% | -12.43% | -8.57% | -8.10% | 23.99% | 14.59% | 22.29% | -6.03% | 21.75% |
Correlation
The correlation between DBA and MOO is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.26 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Sep 5, 2007 | 0.30 |
The correlation between DBA and MOO shifts across timeframes, from 0.17 (3 years) to 0.30 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
DBA vs. MOO — Risk / Return Rank
DBA
MOO
DBA vs. MOO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB Agriculture Fund (DBA) and VanEck Agribusiness ETF (MOO). 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 | MOO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.12 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 0.82 | 0.88 | -0.05 |
| Martin ratioReturn relative to average drawdown | 1.74 | 2.31 | -0.57 |
Loading charts...
Drawdowns
DBA vs. MOO - Drawdown Comparison
The maximum DBA drawdown since its inception was -67.97%, roughly equal to the maximum MOO drawdown of -69.53%. Use the drawdown chart below to compare losses from any high point for DBA and MOO.
Loading charts...
Drawdown Indicators
| DBA | MOO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.97% | -69.53% | +1.56% |
Max Drawdown (1Y)Largest decline over 1 year | -8.67% | -11.17% | +2.50% |
Max Drawdown (3Y)Largest decline over 3 years | -12.36% | -26.83% | +14.47% |
Max Drawdown (5Y)Largest decline over 5 years | -15.94% | -39.52% | +23.58% |
Max Drawdown (10Y)Largest decline over 10 years | -37.97% | -39.52% | +1.55% |
Current DrawdownCurrent decline from peak | -26.24% | -16.71% | -9.53% |
Average DrawdownAverage peak-to-trough decline | -41.04% | -16.98% | -24.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.09% | 4.23% | -0.14% |
Volatility
DBA vs. MOO - Volatility Comparison
The current volatility for Invesco DB Agriculture Fund (DBA) is 3.15%, while VanEck Agribusiness ETF (MOO) has a volatility of 5.01%. This indicates that DBA experiences smaller price fluctuations and is considered to be less risky than MOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| DBA | MOO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.15% | 5.01% | -1.86% |
Volatility (6M)Calculated over the trailing 6-month period | 6.90% | 11.40% | -4.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.49% | 14.46% | -3.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.86% | 17.20% | -3.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.05% | 18.14% | -5.09% |
DBA vs. MOO - Expense Ratio Comparison
DBA has a 0.88% expense ratio, which is higher than MOO's 0.56% expense ratio.
Dividends
DBA vs. MOO - Dividend Comparison
DBA's dividend yield for the trailing twelve months is around 3.41%, more than MOO's 2.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBA Invesco DB Agriculture Fund | 3.41% | 3.58% | 4.08% | 4.63% | 0.48% | 0.00% | 0.00% | 1.55% | 1.06% | 0.00% | 0.00% | 0.00% |
MOO VanEck Agribusiness ETF | 2.22% | 2.47% | 3.41% | 2.93% | 2.15% | 1.17% | 1.10% | 1.26% | 1.69% | 1.44% | 2.14% | 2.89% |
Frequently Asked Questions
DBA and MOO have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MOO has higher volatility (5.01%) compared to DBA (3.15%). In terms of maximum drawdown, DBA dropped -67.97% vs MOO's -69.53%.
On 10-year performance, MOO leads with 7.45% vs 3.53% for DBA. On fees, MOO is cheaper at 0.56% per year. On volatility, DBA has been the lower-risk option at 3.15%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, MOO has performed better with a 7.45% return vs 3.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MOO is cheaper with a 0.56% expense ratio, compared with 0.88% for DBA.
DBA has the higher dividend yield at 3.41%, compared with 2.22% for MOO.
DBA is categorized as Agricultural Commodities, while MOO is Natural Resources. DBA tracks DBIQ Diversified Agriculture Index Excess Return, while MOO tracks MVIS Global Agribusiness Index. They also come from different issuers: Invesco and VanEck. Their fees differ too: 0.88% for DBA and 0.56% for MOO.
DBA currently has the higher Sharpe Ratio (0.68 vs 0.68), 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.
Find the right allocation for DBA and MOO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer