DBC vs. BCD
DBC (Invesco DB Commodity Index Tracking Fund) and BCD (abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF) are both Commodities funds - DBC tracks the DBIQ Optimum Yield Diversified Commodity Index Excess Return while BCD tracks the Bloomberg Commodity Index 3 Month Forward Total Return. Both are passively managed. Over the past 5 years, DBC returned 11.66%/yr vs 10.65%/yr for BCD. Their correlation of 0.80 means they have usually moved in the same direction. DBC charges 0.85%/yr vs 0.30%/yr for BCD.
Performance
DBC vs. BCD - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, DBC achieves a 31.71% return, which is significantly higher than BCD's 16.41% return.
DBC
- 1D
- 0.44%
- 1M
- 10.84%
- 6M
- 20.55%
- YTD
- 31.71%
- 1Y
- 37.81%
- 3Y*
- 11.07%
- 5Y*
- 11.66%
- 10Y*
- 9.54%
- ALL TIME*
- 2.04%
BCD
- 1D
- -0.06%
- 1M
- 5.50%
- 6M
- 7.33%
- YTD
- 16.41%
- 1Y
- 28.51%
- 3Y*
- 10.83%
- 5Y*
- 10.65%
- 10Y*
- —
- ALL TIME*
- 8.82%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.39M | $1.55M | $2.26M | |
| $27.92M | $29.19M | $34.33M |
DBC vs. BCD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DBC Invesco DB Commodity Index Tracking Fund | 31.71% | 8.10% | 2.18% | -6.19% | 19.34% | 41.36% | -7.84% | 11.84% | -11.63% | 9.42% |
BCD abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF | 16.41% | 15.71% | 6.20% | -7.58% | 18.38% | 31.87% | 4.76% | 7.34% | -8.65% | 3.83% |
Correlation
The correlation between DBC and BCD is 0.88, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.88 |
Correlation (3Y) Balances recent behavior with more history. | 0.86 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.87 |
Correlation (All Time) Calculated using the full available price history since Mar 31, 2017 | 0.80 |
The correlation between DBC and BCD has been stable across timeframes, ranging from 0.80 to 0.88 - a consistent structural relationship.
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
DBC vs. BCD — Risk / Return Rank
DBC
BCD
DBC vs. BCD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB Commodity Index Tracking Fund (DBC) and abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF (BCD). 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.
| DBC | BCD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.35 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.16 | 2.22 | -0.06 |
| Martin ratioReturn relative to average drawdown | 7.20 | 7.25 | -0.06 |
Loading charts...
Drawdowns
DBC vs. BCD - Drawdown Comparison
The maximum DBC drawdown since its inception was -76.36%, which is greater than BCD's maximum drawdown of -29.81%. Use the drawdown chart below to compare losses from any high point for DBC and BCD.
Loading charts...
Drawdown Indicators
| DBC | BCD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.36% | -29.81% | -46.55% |
Max Drawdown (1Y)Largest decline over 1 year | -16.54% | -12.70% | -3.84% |
Max Drawdown (3Y)Largest decline over 3 years | -16.54% | -12.70% | -3.84% |
Max Drawdown (5Y)Largest decline over 5 years | -27.34% | -23.03% | -4.31% |
Max Drawdown (10Y)Largest decline over 10 years | -41.71% | — | — |
Current DrawdownCurrent decline from peak | -23.81% | -6.83% | -16.98% |
Average DrawdownAverage peak-to-trough decline | -46.07% | -9.83% | -36.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.00% | 3.88% | +1.12% |
Volatility
DBC vs. BCD - Volatility Comparison
Invesco DB Commodity Index Tracking Fund (DBC) has a higher volatility of 7.01% compared to abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF (BCD) at 3.93%. This indicates that DBC's price experiences larger fluctuations and is considered to be riskier than BCD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| DBC | BCD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.01% | 3.93% | +3.08% |
Volatility (6M)Calculated over the trailing 6-month period | 17.35% | 11.95% | +5.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.58% | 14.22% | +5.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.31% | 15.36% | +3.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.87% | 13.91% | +3.96% |
DBC vs. BCD - Expense Ratio Comparison
DBC has a 0.85% expense ratio, which is higher than BCD's 0.30% expense ratio.
Dividends
DBC vs. BCD - Dividend Comparison
DBC's dividend yield for the trailing twelve months is around 2.53%, less than BCD's 14.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BCD abrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETF | 14.79% | 17.21% | 3.60% | 4.51% | 5.21% | 8.30% | 1.29% | 1.55% | 1.59% | 0.07% |
DBC Invesco DB Commodity Index Tracking Fund | 2.53% | 3.33% | 5.22% | 4.94% | 0.59% | 0.00% | 0.00% | 1.59% | 1.30% | 0.00% |
Frequently Asked Questions
DBC and BCD have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBC has higher volatility (7.01%) compared to BCD (3.93%). In terms of maximum drawdown, DBC dropped -76.36% vs BCD's -29.81%.
On 5-year performance, DBC leads with 11.66% vs 10.65% for BCD. On fees, BCD is cheaper at 0.30% per year. On volatility, BCD has been the lower-risk option at 3.93%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DBC has performed better with a 11.66% return vs 10.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BCD is cheaper with a 0.30% expense ratio, compared with 0.85% for DBC.
BCD has the higher dividend yield at 14.79%, compared with 2.53% for DBC.
DBC tracks DBIQ Optimum Yield Diversified Commodity Index Excess Return, while BCD tracks Bloomberg Commodity Index 3 Month Forward Total Return. They also come from different issuers: Invesco and Aberdeen. Their fees differ too: 0.85% for DBC and 0.30% for BCD.
BCD currently has the higher Sharpe Ratio (1.98 vs 1.83), 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 DBC and BCD
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