DBC vs. DCMSX
DBC (Invesco DB Commodity Index Tracking Fund) and DCMSX (DFA Commodity Strategy Portfolio) are both Commodities funds. Over the past 10 years, DBC returned 8.53%/yr vs 7.02%/yr for DCMSX. Their correlation of 0.85 suggests significant overlap in exposure. DBC charges 0.85%/yr vs 0.31%/yr for DCMSX.
Performance
DBC vs. DCMSX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, DBC achieves a 28.04% return, which is significantly higher than DCMSX's 23.46% return. Over the past 10 years, DBC has outperformed DCMSX with an annualized return of 8.53%, while DCMSX has yielded a comparatively lower 7.02% annualized return.
DBC
- 1D
- 1.06%
- 1M
- 0.28%
- 6M
- 22.51%
- YTD
- 28.04%
- 1Y
- 32.59%
- 3Y*
- 11.43%
- 5Y*
- 11.58%
- 10Y*
- 8.53%
DCMSX
- 1D
- 1.43%
- 1M
- -0.63%
- 6M
- 17.88%
- YTD
- 23.46%
- 1Y
- 32.17%
- 3Y*
- 13.20%
- 5Y*
- 10.67%
- 10Y*
- 7.02%
DBC vs. DCMSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DBC Invesco DB Commodity Index Tracking Fund | 28.04% | 8.10% | 2.18% | -6.19% | 19.34% | 41.36% | -7.84% | 11.84% | -11.63% | 4.86% |
DCMSX DFA Commodity Strategy Portfolio | 23.46% | 15.15% | 5.90% | -9.14% | 11.36% | 33.54% | -1.78% | 7.96% | -11.22% | 2.73% |
Correlation
The correlation between DBC and DCMSX is 0.84, 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 | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.85 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2010 | 0.85 |
The correlation between DBC and DCMSX has been stable across timeframes, ranging from 0.83 to 0.85 - 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. DCMSX — Risk / Return Rank
DBC
DCMSX
DBC vs. DCMSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB Commodity Index Tracking Fund (DBC) and DFA Commodity Strategy Portfolio (DCMSX). 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 | DCMSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | -0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.35 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.98 | 2.35 | -0.37 |
| Martin ratioReturn relative to average drawdown | 6.89 | 8.18 | -1.29 |
Loading charts...
Drawdowns
DBC vs. DCMSX - Drawdown Comparison
The maximum DBC drawdown since its inception was -76.36%, which is greater than DCMSX's maximum drawdown of -60.94%. Use the drawdown chart below to compare losses from any high point for DBC and DCMSX.
Loading charts...
Drawdown Indicators
| DBC | DCMSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.36% | -60.94% | -15.42% |
Max Drawdown (1Y)Largest decline over 1 year | -16.54% | -13.81% | -2.73% |
Max Drawdown (3Y)Largest decline over 3 years | -16.54% | -13.81% | -2.73% |
Max Drawdown (5Y)Largest decline over 5 years | -27.34% | -27.93% | +0.59% |
Max Drawdown (10Y)Largest decline over 10 years | -41.71% | -32.52% | -9.19% |
Current DrawdownCurrent decline from peak | -25.93% | -9.15% | -16.78% |
Average DrawdownAverage peak-to-trough decline | -46.13% | -31.63% | -14.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.74% | 3.95% | +0.79% |
Volatility
DBC vs. DCMSX - Volatility Comparison
Invesco DB Commodity Index Tracking Fund (DBC) has a higher volatility of 6.10% compared to DFA Commodity Strategy Portfolio (DCMSX) at 4.40%. This indicates that DBC's price experiences larger fluctuations and is considered to be riskier than DCMSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| DBC | DCMSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.10% | 4.40% | +1.70% |
Volatility (6M)Calculated over the trailing 6-month period | 16.70% | 14.20% | +2.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.83% | 16.50% | +2.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.28% | 16.30% | +2.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.80% | 14.45% | +3.35% |
DBC vs. DCMSX - Expense Ratio Comparison
DBC has a 0.85% expense ratio, which is higher than DCMSX's 0.31% expense ratio.
Dividends
DBC vs. DCMSX - Dividend Comparison
DBC's dividend yield for the trailing twelve months is around 2.60%, less than DCMSX's 8.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBC Invesco DB Commodity Index Tracking Fund | 2.60% | 3.33% | 5.22% | 4.94% | 0.59% | 0.00% | 0.00% | 1.59% | 1.30% | 0.00% | 0.00% | 0.00% |
DCMSX DFA Commodity Strategy Portfolio | 8.64% | 10.75% | 2.83% | 2.52% | 7.46% | 49.44% | 0.37% | 1.51% | 1.63% | 3.09% | 0.47% | 0.15% |
Frequently Asked Questions
DBC and DCMSX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBC has higher volatility (6.10%) compared to DCMSX (4.40%). In terms of maximum drawdown, DBC dropped -76.36% vs DCMSX's -60.94%.
DCMSX currently has the higher Sharpe Ratio (1.97 vs 1.74), 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 DCMSX
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