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DBC vs. CMOP.L
Performance
Return for Risk
Dividends
Drawdowns
Volatility

DBC vs. CMOP.L

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco DB Commodity Index Tracking Fund (DBC) and Invesco Bloomberg Commodity UCITS ETF Acc (CMOP.L).

DBC and CMOP.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DBC is a passively managed fund by Invesco that tracks the performance of the DBIQ Optimum Yield Diversified Commodity Index Excess Return. It was launched on Feb 3, 2006. CMOP.L is a passively managed fund by Invesco that tracks the performance of the Bloomberg Commodity. It was launched on Jan 9, 2017. Both DBC and CMOP.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

DBC vs. CMOP.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco DB Commodity Index Tracking Fund (DBC) and Invesco Bloomberg Commodity UCITS ETF Acc (CMOP.L). The values are adjusted to include any dividend payments, if applicable.

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DBC vs. CMOP.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
DBC
Invesco DB Commodity Index Tracking Fund		29.47%8.10%2.18%-6.19%19.34%41.36%-7.84%11.84%-11.63%6.95%
CMOP.L
Invesco Bloomberg Commodity UCITS ETF Acc		24.75%16.40%4.25%-8.12%14.71%27.55%-4.27%7.46%-10.38%2.57%
Different Trading Currencies

DBC is traded in USD, while CMOP.L is traded in GBp. To make them comparable, the CMOP.L values have been converted to USD using the latest available exchange rates.

Returns By Period

In the year-to-date period, DBC achieves a 29.47% return, which is significantly higher than CMOP.L's 24.75% return.

DBC

1D
-1.06%
1M
15.34%
YTD
29.47%
6M
32.82%
1Y
33.00%
3Y*
11.68%
5Y*
14.52%
10Y*
10.12%

CMOP.L

1D
0.95%
1M
12.45%
YTD
24.75%
6M
32.69%
1Y
33.14%
3Y*
14.02%
5Y*
13.68%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco DB Commodity Index Tracking Fund

Invesco Bloomberg Commodity UCITS ETF Acc

Often compared with DBC:
DBC vs. PDBCDBC vs. GSGDBC vs. DBADBC vs. BCIDBC vs. DJPDBC vs. BCDDBC vs. USCI
Often compared with CMOP.L:
CMOP.L vs. CMOD.LCMOP.L vs. WCOB.LCMOP.L vs. GBRE.LCMOP.L vs. BCOG.LCMOP.L vs. COMM.LCMOP.L vs. PDBCCMOP.L vs. GUNR

DBC vs. CMOP.L - Expense Ratio Comparison

DBC has a 0.85% expense ratio, which is higher than CMOP.L's 0.19% expense ratio.

DBC
Invesco DB Commodity Index Tracking Fund
CMOP.L
Invesco Bloomberg Commodity UCITS ETF Acc

Return for Risk

DBC vs. CMOP.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DBC
DBC Risk / Return Rank: 8686
Overall Rank
DBC Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
DBC Sortino Ratio Rank: 8888
Sortino Ratio Rank
DBC Omega Ratio Rank: 8484
Omega Ratio Rank
DBC Calmar Ratio Rank: 9292
Calmar Ratio Rank
DBC Martin Ratio Rank: 8080
Martin Ratio Rank
CMOP.L
CMOP.L Risk / Return Rank: 8383
Overall Rank
CMOP.L Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
CMOP.L Sortino Ratio Rank: 8888
Sortino Ratio Rank
CMOP.L Omega Ratio Rank: 8686
Omega Ratio Rank
CMOP.L Calmar Ratio Rank: 9191
Calmar Ratio Rank
CMOP.L Martin Ratio Rank: 6363
Martin Ratio Rank
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.

DBC vs. CMOP.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco DB Commodity Index Tracking Fund (DBC) and Invesco Bloomberg Commodity UCITS ETF Acc (CMOP.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.

DBCCMOP.LDifference

Sharpe ratio

Return per unit of total volatility

1.77

2.00

-0.23

Sortino ratio

Return per unit of downside risk

2.36

2.60

-0.24

Omega ratio

Gain probability vs. loss probability

1.32

1.37

-0.05

Calmar ratio

Return relative to maximum drawdown

3.17

3.64

-0.47

Martin ratio

Return relative to average drawdown

8.16

9.02

-0.85

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DBC vs. CMOP.L - Sharpe Ratio Comparison

The current DBC Sharpe Ratio is 1.77, which is comparable to the CMOP.L Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of DBC and CMOP.L, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

DBCCMOP.LDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.77

2.00

-0.23

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.77

0.82

-0.05

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.57

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.11

0.50

-0.40

Correlation

The correlation between DBC and CMOP.L is 0.66, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

DBC vs. CMOP.L - Dividend Comparison

DBC's dividend yield for the trailing twelve months is around 2.57%, while CMOP.L has not paid dividends to shareholders.

TTM20252024202320222021202020192018
DBC
Invesco DB Commodity Index Tracking Fund		2.57%3.33%5.22%4.94%0.59%0.00%0.00%1.59%1.30%
CMOP.L
Invesco Bloomberg Commodity UCITS ETF Acc		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Drawdowns

DBC vs. CMOP.L - Drawdown Comparison

The maximum DBC drawdown since its inception was -76.36%, which is greater than CMOP.L's maximum drawdown of -33.25%. Use the drawdown chart below to compare losses from any high point for DBC and CMOP.L.

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Drawdown Indicators

DBCCMOP.LDifference

Max Drawdown

Largest peak-to-trough decline

-76.36%

-28.78%

-47.58%

Max Drawdown (1Y)

Largest decline over 1 year

-10.99%

-9.61%

-1.38%

Max Drawdown (5Y)

Largest decline over 5 years

-27.34%

-28.78%

+1.44%

Max Drawdown (10Y)

Largest decline over 10 years

-41.71%

—

—

Current Drawdown

Current decline from peak

-25.10%

0.00%

-25.10%

Average Drawdown

Average peak-to-trough decline

-46.43%

-12.35%

-34.08%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.27%

4.84%

-0.57%

Volatility

DBC vs. CMOP.L - Volatility Comparison

Invesco DB Commodity Index Tracking Fund (DBC) has a higher volatility of 8.17% compared to Invesco Bloomberg Commodity UCITS ETF Acc (CMOP.L) at 7.30%. This indicates that DBC's price experiences larger fluctuations and is considered to be riskier than CMOP.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

DBCCMOP.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.17%

7.30%

+0.87%

Volatility (6M)

Calculated over the trailing 6-month period

13.92%

12.95%

+0.97%

Volatility (1Y)

Calculated over the trailing 1-year period

18.77%

16.50%

+2.27%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.98%

16.66%

+2.32%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.72%

15.04%

+2.68%