DBB vs. COMT
DBB (Invesco DB Base Metals Fund) and COMT (iShares GSCI Commodity Dynamic Roll Strategy ETF) are both exchange-traded funds - DBB is a Metals fund tracking the DBIQ Optimum Yield Industrial Metals Index Excess Return, while COMT is a Commodities fund tracking the S&P GSCI Dynamic Roll (USD) Total Return Index. Both are passively managed. Over the past 10 years, DBB returned 7.86%/yr vs 7.34%/yr for COMT. At a 0.41 correlation, their price movements are largely independent. DBB charges 0.80%/yr vs 0.48%/yr for COMT.
Performance
DBB vs. COMT - Performance Comparison
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Returns By Period
In the year-to-date period, DBB achieves a 4.53% return, which is significantly lower than COMT's 21.48% return. Over the past 10 years, DBB has outperformed COMT with an annualized return of 7.86%, while COMT has yielded a comparatively lower 7.34% annualized return.
DBB
- 1D
- -1.19%
- 1M
- -7.66%
- YTD
- 4.53%
- 6M
- 6.67%
- 1Y
- 26.91%
- 3Y*
- 15.61%
- 5Y*
- 6.73%
- 10Y*
- 7.86%
COMT
- 1D
- 0.12%
- 1M
- -10.16%
- YTD
- 21.48%
- 6M
- 21.21%
- 1Y
- 25.97%
- 3Y*
- 11.45%
- 5Y*
- 10.03%
- 10Y*
- 7.34%
DBB vs. COMT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DBB Invesco DB Base Metals Fund | 4.53% | 25.01% | 7.90% | 1.15% | -11.80% | 28.97% | 15.53% | -1.17% | -19.47% | 30.09% |
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF | 21.48% | 6.07% | 5.96% | -6.56% | 19.45% | 36.88% | -18.66% | 10.81% | -6.67% | 11.70% |
Correlation
The correlation between DBB and COMT is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.29 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.40 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2014 | 0.41 |
Over the past year, the correlation between DBB and COMT has dropped to 0.17 - well below their long-term average of 0.41, suggesting their price drivers have been diverging.
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Return for Risk
DBB vs. COMT — Risk / Return Rank
DBB
COMT
DBB vs. COMT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB Base Metals Fund (DBB) and iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT). 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.
| DBB | COMT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.22 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.46 | 1.48 | +0.97 |
| Martin ratioReturn relative to average drawdown | 8.16 | 6.18 | +1.98 |
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Drawdowns
DBB vs. COMT - Drawdown Comparison
The maximum DBB drawdown since its inception was -60.20%, which is greater than COMT's maximum drawdown of -51.89%. Use the drawdown chart below to compare losses from any high point for DBB and COMT.
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Drawdown Indicators
| DBB | COMT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.20% | -51.89% | -8.31% |
Max Drawdown (1Y)Largest decline over 1 year | -11.00% | -17.57% | +6.57% |
Max Drawdown (3Y)Largest decline over 3 years | -16.59% | -17.57% | +0.98% |
Max Drawdown (5Y)Largest decline over 5 years | -35.00% | -29.00% | -6.00% |
Max Drawdown (10Y)Largest decline over 10 years | -37.98% | -39.22% | +1.24% |
Current DrawdownCurrent decline from peak | -9.95% | -17.22% | +7.27% |
Average DrawdownAverage peak-to-trough decline | -30.80% | -23.99% | -6.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.31% | 4.21% | -0.90% |
Volatility
DBB vs. COMT - Volatility Comparison
Invesco DB Base Metals Fund (DBB) has a higher volatility of 6.54% compared to iShares GSCI Commodity Dynamic Roll Strategy ETF (COMT) at 5.56%. This indicates that DBB's price experiences larger fluctuations and is considered to be riskier than COMT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBB | COMT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.54% | 5.56% | +0.98% |
Volatility (6M)Calculated over the trailing 6-month period | 16.55% | 19.48% | -2.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.91% | 21.29% | -2.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.31% | 21.18% | -0.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.52% | 18.87% | -0.35% |
DBB vs. COMT - Expense Ratio Comparison
DBB has a 0.80% expense ratio, which is higher than COMT's 0.48% expense ratio.
Dividends
DBB vs. COMT - Dividend Comparison
DBB's dividend yield for the trailing twelve months is around 2.50%, less than COMT's 6.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
COMT iShares GSCI Commodity Dynamic Roll Strategy ETF | 6.37% | 7.74% | 4.90% | 5.19% | 29.79% | 17.79% | 0.36% | 2.61% | 11.65% | 5.16% | 0.52% | 1.44% |
DBB Invesco DB Base Metals Fund | 2.50% | 2.61% | 4.75% | 7.21% | 0.94% | 0.00% | 0.00% | 1.83% | 1.59% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DBB and COMT have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBB has higher volatility (6.54%) compared to COMT (5.56%). In terms of maximum drawdown, DBB dropped -60.20% vs COMT's -51.89%.
On 10-year performance, DBB leads with 7.86% vs 7.34% for COMT. On fees, COMT is cheaper at 0.48% per year. On volatility, COMT has been the lower-risk option at 5.56%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DBB has performed better with a 7.86% return vs 7.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
COMT is cheaper with a 0.48% expense ratio, compared with 0.80% for DBB.
COMT has the higher dividend yield at 6.37%, compared with 2.50% for DBB.
DBB is categorized as Metals, while COMT is Commodities. DBB tracks DBIQ Optimum Yield Industrial Metals Index Excess Return, while COMT tracks S&P GSCI Dynamic Roll (USD) Total Return Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.80% for DBB and 0.48% for COMT.
DBB currently has the higher Sharpe Ratio (1.43 vs 1.23), 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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