DBC vs. DJP
Compare and contrast key facts about Invesco DB Commodity Index Tracking Fund (DBC) and iPath Bloomberg Commodity Index Total Return ETN (DJP).
DBC and DJP 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. DJP is a passively managed fund by Barclays Capital that tracks the performance of the Bloomberg Commodity Index. It was launched on Jun 6, 2006. Both DBC and DJP 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 DJP.
Key characteristics
| DBC | DJP | |
|---|---|---|
| YTD Return | 5.85% | 5.79% |
| 1Y Return | 1.65% | -0.25% |
| 3Y Return (Ann) | 12.16% | 9.14% |
| 5Y Return (Ann) | 9.08% | 7.05% |
| 10Y Return (Ann) | -0.47% | -2.22% |
| Sharpe Ratio | 0.02 | -0.12 |
| Daily Std Dev | 14.39% | 13.47% |
| Max Drawdown | -76.36% | -78.35% |
| Current Drawdown | -44.57% | -56.04% |
Correlation
The correlation between DBC and DJP is 0.89, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
DBC vs. DJP - Performance Comparison
The year-to-date returns for both stocks are quite close, with DBC having a 5.85% return and DJP slightly lower at 5.79%. Over the past 10 years, DBC has outperformed DJP with an annualized return of -0.47%, while DJP has yielded a comparatively lower -2.22% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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DBC vs. DJP - Expense Ratio Comparison
Risk-Adjusted Performance
DBC vs. DJP - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB Commodity Index Tracking Fund (DBC) and iPath Bloomberg Commodity Index Total Return ETN (DJP). 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. DJP - Dividend Comparison
DBC's dividend yield for the trailing twelve months is around 4.67%, while DJP has not paid dividends to shareholders.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|
DBC Invesco DB Commodity Index Tracking Fund | 4.67% | 4.94% | 0.59% | 0.00% | 0.00% | 1.59% | 1.30% |
DJP iPath Bloomberg Commodity Index Total Return ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
DBC vs. DJP - Drawdown Comparison
The maximum DBC drawdown since its inception was -76.36%, roughly equal to the maximum DJP drawdown of -78.35%. Use the drawdown chart below to compare losses from any high point for DBC and DJP. For additional features, visit the drawdowns tool.
Volatility
DBC vs. DJP - Volatility Comparison
Invesco DB Commodity Index Tracking Fund (DBC) and iPath Bloomberg Commodity Index Total Return ETN (DJP) have volatilities of 3.09% and 2.95%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.