DBC vs. DIVO
DBC (Invesco DB Commodity Index Tracking Fund) and DIVO (Amplify CWP Enhanced Dividend Income ETF) are both exchange-traded funds - DBC is a Commodities fund tracking the DBIQ Optimum Yield Diversified Commodity Index Excess Return, while DIVO is a Derivative Income fund actively managed by Amplify. DBC is passively managed, while DIVO is actively managed. Over the past 5 years, DBC returned 11.66%/yr vs 10.70%/yr for DIVO. Their 0.26 correlation means their historical movements had little consistent relationship. DBC charges 0.85%/yr vs 0.56%/yr for DIVO.
Performance
DBC vs. DIVO - Performance Comparison
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Returns By Period
In the year-to-date period, DBC achieves a 31.71% return, which is significantly higher than DIVO's 8.38% return.
DBC
- 1D
- 0.44%
- 1M
- 11.34%
- 6M
- 20.55%
- YTD
- 31.71%
- 1Y
- 35.60%
- 3Y*
- 11.07%
- 5Y*
- 11.66%
- 10Y*
- 9.54%
- ALL TIME*
- 2.04%
DIVO
- 1D
- -0.02%
- 1M
- 2.82%
- 6M
- 5.32%
- YTD
- 8.38%
- 1Y
- 17.18%
- 3Y*
- 14.53%
- 5Y*
- 10.70%
- 10Y*
- —
- ALL TIME*
- 12.63%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $27.92M | $29.19M | $34.33M | |
| $39.08M | $36.10M | $38.51M |
DBC vs. DIVO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DBC Invesco DB Commodity Index Tracking Fund | 31.71% | 8.10% | 2.18% | -6.19% | 19.34% | 41.36% | -7.84% | 11.84% | -11.63% | 4.86% |
DIVO Amplify CWP Enhanced Dividend Income ETF | 8.38% | 17.40% | 16.22% | 6.95% | -1.46% | 22.87% | 12.40% | 24.90% | -3.18% | 21.41% |
Correlation
The correlation between DBC and DIVO is -0.11, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.11 |
Correlation (3Y) Balances recent behavior with more history. | 0.05 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.19 |
Correlation (All Time) Calculated using the full available price history since Dec 14, 2016 | 0.26 |
The correlation between DBC and DIVO shifts across timeframes, from -0.11 (1 year) to 0.26 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DBC vs. DIVO — Risk / Return Rank
DBC
DIVO
DBC vs. DIVO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB Commodity Index Tracking Fund (DBC) and Amplify CWP Enhanced Dividend Income ETF (DIVO). 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 | DIVO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.33 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.16 | 2.90 | -0.74 |
| Martin ratioReturn relative to average drawdown | 7.20 | 10.27 | -3.07 |
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Drawdowns
DBC vs. DIVO - Drawdown Comparison
The maximum DBC drawdown since its inception was -76.36%, which is greater than DIVO's maximum drawdown of -30.04%. Use the drawdown chart below to compare losses from any high point for DBC and DIVO.
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Drawdown Indicators
| DBC | DIVO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.36% | -30.04% | -46.32% |
Max Drawdown (1Y)Largest decline over 1 year | -16.54% | -5.95% | -10.59% |
Max Drawdown (3Y)Largest decline over 3 years | -16.54% | -12.12% | -4.42% |
Max Drawdown (5Y)Largest decline over 5 years | -27.34% | -13.72% | -13.62% |
Max Drawdown (10Y)Largest decline over 10 years | -41.71% | — | — |
Current DrawdownCurrent decline from peak | -23.81% | -0.17% | -23.64% |
Average DrawdownAverage peak-to-trough decline | -46.07% | -2.58% | -43.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.00% | 1.68% | +3.32% |
Volatility
DBC vs. DIVO - Volatility Comparison
Invesco DB Commodity Index Tracking Fund (DBC) has a higher volatility of 7.01% compared to Amplify CWP Enhanced Dividend Income ETF (DIVO) at 2.86%. This indicates that DBC's price experiences larger fluctuations and is considered to be riskier than DIVO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBC | DIVO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.01% | 2.86% | +4.15% |
Volatility (6M)Calculated over the trailing 6-month period | 17.35% | 7.22% | +10.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.58% | 9.32% | +10.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.31% | 11.91% | +7.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.87% | 14.77% | +3.10% |
DBC vs. DIVO - Expense Ratio Comparison
DBC has a 0.85% expense ratio, which is higher than DIVO's 0.56% expense ratio.
Dividends
DBC vs. DIVO - Dividend Comparison
DBC's dividend yield for the trailing twelve months is around 2.53%, less than DIVO's 6.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DBC Invesco DB Commodity Index Tracking Fund | 2.53% | 3.33% | 5.22% | 4.94% | 0.59% | 0.00% | 0.00% | 1.59% | 1.30% | 0.00% |
DIVO Amplify CWP Enhanced Dividend Income ETF | 6.37% | 6.44% | 4.70% | 4.67% | 4.76% | 4.79% | 4.91% | 8.16% | 5.27% | 3.83% |
Frequently Asked Questions
DBC and DIVO have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBC has higher volatility (7.01%) compared to DIVO (2.86%). In terms of maximum drawdown, DBC dropped -76.36% vs DIVO's -30.04%.
On 5-year performance, DBC leads with 11.66% vs 10.70% for DIVO. On fees, DIVO is cheaper at 0.56% per year. On volatility, DIVO has been the lower-risk option at 2.86%. 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 11.66% return vs 10.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DIVO is cheaper with a 0.56% expense ratio, compared with 0.85% for DBC.
DIVO has the higher dividend yield at 6.37%, compared with 2.53% for DBC.
DBC is categorized as Commodities, while DIVO is Derivative Income. They also come from different issuers: Invesco and Amplify. Their fees differ too: 0.85% for DBC and 0.56% for DIVO.
DIVO currently has the higher Sharpe Ratio (1.85 vs 1.83), 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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