DBC vs. COMB
DBC (Invesco DB Commodity Index Tracking Fund) and COMB (GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF) are both Commodities funds. DBC is passively managed, while COMB is actively managed. Over the past 5 years, DBC returned 12.78%/yr vs 11.27%/yr for COMB. Their correlation of 0.86 suggests significant overlap in exposure. DBC charges 0.85%/yr vs 0.25%/yr for COMB.
Performance
DBC vs. COMB - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, DBC achieves a 35.47% return, which is significantly higher than COMB's 26.81% return.
DBC
- 1D
- 0.56%
- 1M
- -3.32%
- YTD
- 35.47%
- 6M
- 35.36%
- 1Y
- 45.90%
- 3Y*
- 15.09%
- 5Y*
- 12.78%
- 10Y*
- 9.10%
COMB
- 1D
- 0.03%
- 1M
- -2.98%
- YTD
- 26.81%
- 6M
- 25.89%
- 1Y
- 38.86%
- 3Y*
- 16.31%
- 5Y*
- 11.27%
- 10Y*
- —
DBC vs. COMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DBC Invesco DB Commodity Index Tracking Fund | 35.47% | 8.10% | 2.18% | -6.19% | 19.34% | 41.36% | -7.84% | 11.84% | -11.63% | 10.07% |
COMB GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF | 26.81% | 15.12% | 5.24% | -7.75% | 14.56% | 26.34% | -2.95% | 7.02% | -11.41% | 4.98% |
Correlation
The correlation between DBC and COMB is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since May 25, 2017 | 0.86 |
The correlation between DBC and COMB has been stable across timeframes, ranging from 0.86 to 0.91 - 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. COMB — Risk / Return Rank
DBC
COMB
DBC vs. COMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB Commodity Index Tracking Fund (DBC) and GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF (COMB). 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 | COMB | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.47 | 2.29 | +0.18 |
Sortino ratioReturn per unit of downside risk | 3.16 | 2.91 | +0.25 |
Omega ratioGain probability vs. loss probability | 1.43 | 1.41 | +0.02 |
Calmar ratioReturn relative to maximum drawdown | 6.54 | 5.08 | +1.46 |
Martin ratioReturn relative to average drawdown | 13.91 | 13.24 | +0.67 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| DBC | COMB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.47 | 2.29 | +0.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.67 | 0.68 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.51 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 0.52 | -0.40 |
Drawdowns
DBC vs. COMB - Drawdown Comparison
The maximum DBC drawdown since its inception was -76.36%, which is greater than COMB's maximum drawdown of -33.50%. Use the drawdown chart below to compare losses from any high point for DBC and COMB.
Loading charts...
Drawdown Indicators
| DBC | COMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.36% | -33.50% | -42.86% |
Max Drawdown (1Y)Largest decline over 1 year | -7.05% | -7.69% | +0.64% |
Max Drawdown (3Y)Largest decline over 3 years | -13.82% | -11.35% | -2.47% |
Max Drawdown (5Y)Largest decline over 5 years | -27.34% | -26.63% | -0.71% |
Max Drawdown (10Y)Largest decline over 10 years | -41.71% | — | — |
Current DrawdownCurrent decline from peak | -21.64% | -4.35% | -17.29% |
Average DrawdownAverage peak-to-trough decline | -46.22% | -12.06% | -34.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.31% | 2.94% | +0.37% |
Volatility
DBC vs. COMB - Volatility Comparison
Invesco DB Commodity Index Tracking Fund (DBC) has a higher volatility of 6.45% compared to GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF (COMB) at 5.14%. This indicates that DBC's price experiences larger fluctuations and is considered to be riskier than COMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| DBC | COMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.45% | 5.14% | +1.31% |
Volatility (6M)Calculated over the trailing 6-month period | 15.75% | 14.99% | +0.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.68% | 17.02% | +1.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.18% | 16.70% | +2.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.81% | 15.13% | +2.68% |
DBC vs. COMB - Expense Ratio Comparison
DBC has a 0.85% expense ratio, which is higher than COMB's 0.25% expense ratio.
Dividends
DBC vs. COMB - Dividend Comparison
DBC's dividend yield for the trailing twelve months is around 2.46%, less than COMB's 7.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
COMB GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF | 7.14% | 9.05% | 2.48% | 6.57% | 30.85% | 15.83% | 0.07% | 1.48% | 0.97% | 0.20% |
DBC Invesco DB Commodity Index Tracking Fund | 2.46% | 3.33% | 5.22% | 4.94% | 0.59% | 0.00% | 0.00% | 1.59% | 1.30% | 0.00% |
Frequently Asked Questions
With a correlation of 0.91, DBC and COMB move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
DBC has higher volatility (6.45%) compared to COMB (5.14%). In terms of maximum drawdown, DBC dropped -76.36% vs COMB's -33.50%.
On 5-year performance, DBC leads with 12.78% vs 11.27% for COMB. On fees, COMB is cheaper at 0.25% per year. On volatility, COMB has been the lower-risk option at 5.14%. 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 12.78% return vs 11.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
COMB is cheaper with a 0.25% expense ratio, compared with 0.85% for DBC.
COMB has the higher dividend yield at 7.14%, compared with 2.46% for DBC.
They also come from different issuers: Invesco and GraniteShares. Their fees differ too: 0.85% for DBC and 0.25% for COMB.
DBC currently has the higher Sharpe Ratio (2.47 vs 2.29), 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 COMB
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