DBC vs. BTC-USD
DBC (Invesco DB Commodity Index Tracking Fund) is Commodities fund tracking the DBIQ Optimum Yield Diversified Commodity Index Excess Return, while BTC-USD (Bitcoin) is a cryptocurrency. Over the past 10 years, DBC returned 8.54%/yr vs 59.68%/yr for BTC-USD. At a 0.04 correlation, their price movements are largely independent.
Performance
DBC vs. BTC-USD - Performance Comparison
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Returns By Period
In the year-to-date period, DBC achieves a 31.80% return, which is significantly higher than BTC-USD's -28.54% return. Over the past 10 years, DBC has underperformed BTC-USD with an annualized return of 8.54%, while BTC-USD has yielded a comparatively higher 59.68% annualized return.
DBC
- 1D
- 0.82%
- 1M
- -2.74%
- YTD
- 31.80%
- 6M
- 32.21%
- 1Y
- 40.70%
- 3Y*
- 14.11%
- 5Y*
- 12.01%
- 10Y*
- 8.54%
BTC-USD
- 1D
- -1.22%
- 1M
- -22.47%
- YTD
- -28.54%
- 6M
- -31.02%
- 1Y
- -40.89%
- 3Y*
- 33.16%
- 5Y*
- 10.82%
- 10Y*
- 59.68%
DBC vs. BTC-USD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DBC Invesco DB Commodity Index Tracking Fund | 31.80% | 8.10% | 2.18% | -6.19% | 19.34% | 41.36% | -7.84% | 11.84% | -11.63% | 4.86% |
BTC-USD Bitcoin | -28.54% | -6.27% | 120.76% | 155.82% | -64.23% | 59.40% | 304.57% | 94.10% | -73.37% | 1,324.24% |
Correlation
The correlation between DBC and BTC-USD is 0.01, 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 | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Sep 24, 2012 | 0.04 |
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Return for Risk
DBC vs. BTC-USD — Risk / Return Rank
DBC
BTC-USD
DBC vs. BTC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB Commodity Index Tracking Fund (DBC) and Bitcoin (BTC-USD). 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.
| DBC | BTC-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.12 | ||
| Sortino ratioReturn per unit of downside risk | +4.17 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 0.86 | +0.52 |
| Calmar ratioReturn relative to maximum drawdown | 5.27 | -0.80 | +6.07 |
| Martin ratioReturn relative to average drawdown | 12.03 | -1.42 | +13.45 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DBC | BTC-USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.17 | -0.95 | +3.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.63 | 0.20 | +0.43 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.48 | 0.87 | -0.39 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.11 | 1.13 | -1.02 |
Drawdowns
DBC vs. BTC-USD - Drawdown Comparison
The maximum DBC drawdown since its inception was -76.36%, smaller than the maximum BTC-USD drawdown of -85.30%. Use the drawdown chart below to compare losses from any high point for DBC and BTC-USD.
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Drawdown Indicators
| DBC | BTC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.36% | -85.30% | +8.94% |
Max Drawdown (1Y)Largest decline over 1 year | -7.76% | -51.21% | +43.45% |
Max Drawdown (3Y)Largest decline over 3 years | -13.82% | -51.21% | +37.39% |
Max Drawdown (5Y)Largest decline over 5 years | -27.34% | -76.67% | +49.33% |
Max Drawdown (10Y)Largest decline over 10 years | -41.71% | -83.80% | +42.09% |
Current DrawdownCurrent decline from peak | -23.76% | -49.86% | +26.10% |
Average DrawdownAverage peak-to-trough decline | -46.21% | -42.32% | -3.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.39% | 34.46% | -31.07% |
Volatility
DBC vs. BTC-USD - Volatility Comparison
The current volatility for Invesco DB Commodity Index Tracking Fund (DBC) is 6.20%, while Bitcoin (BTC-USD) has a volatility of 11.59%. This indicates that DBC experiences smaller price fluctuations and is considered to be less risky than BTC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBC | BTC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.20% | 11.59% | -5.39% |
Volatility (6M)Calculated over the trailing 6-month period | 16.02% | 34.53% | -18.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.91% | 35.67% | -16.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.20% | 44.95% | -25.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.82% | 56.71% | -38.89% |
Frequently Asked Questions
DBC and BTC-USD have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BTC-USD has higher volatility (11.59%) compared to DBC (6.20%). In terms of maximum drawdown, DBC dropped -76.36% vs BTC-USD's -85.30%.
DBC currently has the higher Sharpe Ratio (2.17 vs -0.95), 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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