DBA vs. TAGS
DBA (Invesco DB Agriculture Fund) and TAGS (Teucrium Agricultural Fund) are both Agricultural Commodities funds - DBA tracks the DBIQ Diversified Agriculture Index Excess Return while TAGS tracks the Teucrium TAGS Index. Both are passively managed. Over the past 10 years, DBA returned 3.67%/yr vs -1.83%/yr for TAGS. At a 0.45 correlation, their price movements are largely independent. DBA charges 0.88%/yr vs 0.21%/yr for TAGS.
Performance
DBA vs. TAGS - Performance Comparison
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Returns By Period
In the year-to-date period, DBA achieves a 4.43% return, which is significantly higher than TAGS's 3.75% return. Over the past 10 years, DBA has outperformed TAGS with an annualized return of 3.67%, while TAGS has yielded a comparatively lower -1.83% annualized return.
DBA
- 1D
- 0.08%
- 1M
- -3.30%
- YTD
- 4.43%
- 6M
- 4.76%
- 1Y
- 4.55%
- 3Y*
- 11.76%
- 5Y*
- 11.03%
- 10Y*
- 3.67%
TAGS
- 1D
- -0.25%
- 1M
- -6.05%
- YTD
- 3.75%
- 6M
- 3.20%
- 1Y
- -4.97%
- 3Y*
- -10.09%
- 5Y*
- -0.79%
- 10Y*
- -1.83%
DBA vs. TAGS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DBA Invesco DB Agriculture Fund | 4.43% | -0.56% | 33.45% | 7.64% | 2.53% | 22.37% | -2.54% | -0.71% | -8.74% | -6.06% |
TAGS Teucrium Agricultural Fund | 3.75% | -8.76% | -14.57% | -6.11% | 16.25% | 27.05% | 8.19% | -4.53% | -7.10% | -13.94% |
Correlation
The correlation between DBA and TAGS is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.55 |
Correlation (All Time) Calculated using the full available price history since Mar 28, 2012 | 0.45 |
The correlation between DBA and TAGS shifts across timeframes, from 0.45 (all time) to 0.64 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
DBA vs. TAGS — Risk / Return Rank
DBA
TAGS
DBA vs. TAGS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB Agriculture Fund (DBA) and Teucrium Agricultural Fund (TAGS). 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 | TAGS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.83 | ||
| Sortino ratioReturn per unit of downside risk | +1.17 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 0.95 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.53 | -0.54 | +1.06 |
| Martin ratioReturn relative to average drawdown | 1.15 | -0.96 | +2.11 |
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Drawdowns
DBA vs. TAGS - Drawdown Comparison
The maximum DBA drawdown since its inception was -67.97%, smaller than the maximum TAGS drawdown of -76.40%. Use the drawdown chart below to compare losses from any high point for DBA and TAGS.
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Drawdown Indicators
| DBA | TAGS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.97% | -76.40% | +8.43% |
Max Drawdown (1Y)Largest decline over 1 year | -8.67% | -9.30% | +0.63% |
Max Drawdown (3Y)Largest decline over 3 years | -12.36% | -32.73% | +20.37% |
Max Drawdown (5Y)Largest decline over 5 years | -15.94% | -37.60% | +21.66% |
Max Drawdown (10Y)Largest decline over 10 years | -39.12% | -44.72% | +5.60% |
Current DrawdownCurrent decline from peak | -26.48% | -64.50% | +38.02% |
Average DrawdownAverage peak-to-trough decline | -41.06% | -57.23% | +16.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.96% | 5.99% | -2.03% |
Volatility
DBA vs. TAGS - Volatility Comparison
The current volatility for Invesco DB Agriculture Fund (DBA) is 2.85%, while Teucrium Agricultural Fund (TAGS) has a volatility of 3.30%. This indicates that DBA experiences smaller price fluctuations and is considered to be less risky than TAGS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBA | TAGS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.85% | 3.30% | -0.45% |
Volatility (6M)Calculated over the trailing 6-month period | 6.65% | 10.31% | -3.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.60% | 12.70% | -2.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.93% | 16.33% | -2.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.06% | 18.00% | -4.94% |
DBA vs. TAGS - Expense Ratio Comparison
DBA has a 0.88% expense ratio, which is higher than TAGS's 0.21% expense ratio.
Dividends
DBA vs. TAGS - Dividend Comparison
DBA's dividend yield for the trailing twelve months is around 3.42%, while TAGS has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBA Invesco DB Agriculture Fund | 3.42% | 3.58% | 4.08% | 4.63% | 0.48% | 0.00% | 0.00% | 1.55% | 1.06% |
TAGS Teucrium Agricultural Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DBA and TAGS have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TAGS has higher volatility (3.30%) compared to DBA (2.85%). In terms of maximum drawdown, DBA dropped -67.97% vs TAGS's -76.40%.
On 10-year performance, DBA leads with 3.67% vs -1.83% for TAGS. On fees, TAGS is cheaper at 0.21% per year. On volatility, DBA has been the lower-risk option at 2.85%. 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 3.67% return vs -1.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TAGS is cheaper with a 0.21% expense ratio, compared with 0.88% for DBA.
DBA has the higher dividend yield at 3.42%, compared with 0.00% for TAGS.
DBA tracks DBIQ Diversified Agriculture Index Excess Return, while TAGS tracks Teucrium TAGS Index. They also come from different issuers: Invesco and Teucrium. Their fees differ too: 0.88% for DBA and 0.21% for TAGS.
DBA currently has the higher Sharpe Ratio (0.43 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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