DBA vs. VWRA.L

Last updated Jun 9, 2026

DBA (Invesco DB Agriculture Fund) and VWRA.L (Vanguard FTSE All-World UCITS ETF USD Accumulating) are both exchange-traded funds - DBA is a Agricultural Commodities fund tracking the DBIQ Diversified Agriculture Index TR, while VWRA.L is a Global Equities fund tracking the FTSE All-World Index. Both are passively managed. Over the past 5 years, DBA returned 9.41%/yr vs 10.76%/yr for VWRA.L. At a 0.17 correlation, their price movements are largely independent. DBA charges 0.94%/yr vs 0.22%/yr for VWRA.L.

Performance

DBA vs. VWRA.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco DB Agriculture Fund (DBA) and Vanguard FTSE All-World UCITS ETF USD Accumulating (VWRA.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DBA achieves a 3.17% return, which is significantly lower than VWRA.L's 9.28% return.

DBA

• 1D: -0.27%
• 1M: -5.86%
• YTD: 3.17%
• 6M: 3.33%
• 1Y: -0.73%
• 3Y*: 11.90%
• 5Y*: 9.41%
• 10Y*: 3.00%

VWRA.L

• 1D: -0.48%
• 1M: 0.14%
• YTD: 9.28%
• 6M: 10.70%
• 1Y: 25.68%
• 3Y*: 20.08%
• 5Y*: 10.76%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

DBA vs. VWRA.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
DBA Invesco DB Agriculture Fund	3.17%	-0.56%	33.45%	7.64%	2.53%	22.37%	-2.54%	1.88%
VWRA.L Vanguard FTSE All-World UCITS ETF USD Accumulating	9.28%	22.45%	17.65%	22.28%	-18.11%	18.46%	16.19%	7.42%

Correlation

The correlation between DBA and VWRA.L is 0.09, 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	0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.12
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (All Time) Calculated using the full available price history since Jul 23, 2019	0.17

DBA vs. VWRA.L - Sectors Allocation Comparison

Sectors	DBA	VWRA.L
Healthcare	16.8%	8.2%
Industrials	15.2%	9.8%
Financial Services	13.7%	16.0%
Consumer Cyclical	11.8%	9.1%
Basic Materials	10.7%	3.3%
Consumer Defensive	8.8%	4.8%
Communication Services	7.4%	9.1%
Technology	6.3%	31.1%
Energy	5.3%	4.3%
Utilities	2.9%	2.7%
Real Estate	1.1%	1.4%

Return for Risk

DBA vs. VWRA.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DBA

DBA Risk / Return Rank: 8
DBA Sharpe Ratio Rank: 9
DBA Sortino Ratio Rank: 8
DBA Omega Ratio Rank: 8
DBA Calmar Ratio Rank: 8
DBA Martin Ratio Rank: 9

VWRA.L

VWRA.L Risk / Return Rank: 70
VWRA.L Sharpe Ratio Rank: 69
VWRA.L Sortino Ratio Rank: 76
VWRA.L Omega Ratio Rank: 70
VWRA.L Calmar Ratio Rank: 64
VWRA.L Martin Ratio Rank: 72

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. VWRA.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco DB Agriculture Fund (DBA) and Vanguard FTSE All-World UCITS ETF USD Accumulating (VWRA.L). 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	VWRA.L	Difference
Sharpe ratio: Return per unit of total volatility	-0.07	2.05	-2.12
Sortino ratio: Return per unit of downside risk	-0.02	3.04	-3.06
Omega ratio: Gain probability vs. loss probability	1.00	1.37	-0.38
Calmar ratio: Return relative to maximum drawdown	-0.09	2.91	-3.00
Martin ratio: Return relative to average drawdown	-0.18	12.14	-12.32
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. VWRA.L - Sharpe Ratio Comparison

The current DBA Sharpe Ratio is -0.07, which is lower than the VWRA.L Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of DBA and VWRA.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DBA	VWRA.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.07	2.05	-2.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.67	0.70	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.23	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.07	0.76	-0.68

Drawdowns

DBA vs. VWRA.L - Drawdown Comparison

The maximum DBA drawdown since its inception was -67.97%, which is greater than VWRA.L's maximum drawdown of -33.62%. Use the drawdown chart below to compare losses from any high point for DBA and VWRA.L.

Drawdown Indicators

	DBA	VWRA.L	Difference
Max Drawdown Largest peak-to-trough decline	-67.97%	-33.62%	-34.35%
Max Drawdown (1Y) Largest decline over 1 year	-8.35%	-8.78%	+0.43%
Max Drawdown (3Y) Largest decline over 3 years	-12.36%	-16.26%	+3.90%
Max Drawdown (5Y) Largest decline over 5 years	-15.94%	-26.06%	+10.12%
Max Drawdown (10Y) Largest decline over 10 years	-40.72%	—	—
Current Drawdown Current decline from peak	-27.37%	-2.80%	-24.57%
Average Drawdown Average peak-to-trough decline	-41.10%	-5.37%	-35.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.16%	2.11%	+2.05%

Volatility

DBA vs. VWRA.L - Volatility Comparison

Invesco DB Agriculture Fund (DBA) and Vanguard FTSE All-World UCITS ETF USD Accumulating (VWRA.L) have volatilities of 4.09% and 3.96%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DBA	VWRA.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.09%	3.96%	+0.13%
Volatility (6M) Calculated over the trailing 6-month period	6.58%	9.93%	-3.35%
Volatility (1Y) Calculated over the trailing 1-year period	10.73%	12.51%	-1.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.09%	15.35%	-1.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.07%	17.24%	-4.17%

DBA vs. VWRA.L - Expense Ratio Comparison

DBA has a 0.94% expense ratio, which is higher than VWRA.L's 0.22% expense ratio.

Dividends

DBA vs. VWRA.L - Dividend Comparison

DBA's dividend yield for the trailing twelve months is around 3.47%, while VWRA.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DBA Invesco DB Agriculture Fund	3.47%	3.58%	4.08%	4.63%	0.48%	0.00%	0.00%	1.55%	1.06%
VWRA.L Vanguard FTSE All-World UCITS ETF USD Accumulating	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DBA and VWRA.L in my portfolio?

DBA and VWRA.L have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DBA or VWRA.L?

On fees, VWRA.L is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DBA or VWRA.L?

VWRA.L is cheaper with a 0.22% expense ratio, compared with 0.94% for DBA.

What is the main difference between DBA and VWRA.L?

DBA is categorized as Agricultural Commodities, while VWRA.L is Global Equities. DBA tracks DBIQ Diversified Agriculture Index TR, while VWRA.L tracks FTSE All-World Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.94% for DBA and 0.22% for VWRA.L.