DBC vs. DBA
Compare and contrast key facts about Invesco DB Commodity Index Tracking Fund (DBC) and Invesco DB Agriculture Fund (DBA).
DBC and DBA 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. DBA is a passively managed fund by Invesco that tracks the performance of the DBIQ Diversified Agriculture Index TR. It was launched on Jan 5, 2007. Both DBC and DBA are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: DBC or DBA.
Performance
DBC vs. DBA - Performance Comparison
Returns By Period
In the year-to-date period, DBC achieves a -1.00% return, which is significantly lower than DBA's 25.36% return. Over the past 10 years, DBC has outperformed DBA with an annualized return of 0.98%, while DBA has yielded a comparatively lower 0.91% annualized return.
DBC
-1.00%
-2.28%
-7.97%
-4.42%
8.93%
0.98%
DBA
25.36%
2.36%
10.69%
23.14%
11.70%
0.91%
Key characteristics
| DBC | DBA | |
|---|---|---|
| Sharpe Ratio | -0.37 | 1.21 |
| Sortino Ratio | -0.42 | 1.69 |
| Omega Ratio | 0.95 | 1.22 |
| Calmar Ratio | -0.11 | 0.46 |
| Martin Ratio | -1.05 | 3.80 |
| Ulcer Index | 5.12% | 5.79% |
| Daily Std Dev | 14.54% | 18.22% |
| Max Drawdown | -76.36% | -67.97% |
| Current Drawdown | -48.16% | -33.49% |
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DBC vs. DBA - Expense Ratio Comparison
DBC has a 0.85% expense ratio, which is lower than DBA's 0.94% expense ratio.
Correlation
The correlation between DBC and DBA is 0.52, 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.
Risk-Adjusted Performance
DBC vs. DBA - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB Commodity Index Tracking Fund (DBC) and Invesco DB Agriculture Fund (DBA). 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.
Dividends
DBC vs. DBA - Dividend Comparison
DBC's dividend yield for the trailing twelve months is around 4.99%, more than DBA's 3.69% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|
DBC Invesco DB Commodity Index Tracking Fund | 4.99% | 4.94% | 0.59% | 0.00% | 0.00% | 1.59% | 1.30% |
DBA Invesco DB Agriculture Fund | 3.69% | 4.63% | 0.48% | 0.00% | 0.00% | 1.55% | 1.06% |
Drawdowns
DBC vs. DBA - Drawdown Comparison
The maximum DBC drawdown since its inception was -76.36%, which is greater than DBA's maximum drawdown of -67.97%. Use the drawdown chart below to compare losses from any high point for DBC and DBA. For additional features, visit the drawdowns tool.
Volatility
DBC vs. DBA - Volatility Comparison
Invesco DB Commodity Index Tracking Fund (DBC) has a higher volatility of 5.17% compared to Invesco DB Agriculture Fund (DBA) at 3.96%. This indicates that DBC's price experiences larger fluctuations and is considered to be riskier than DBA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.