DBC vs. FTGC
DBC (Invesco DB Commodity Index Tracking Fund) and FTGC (First Trust Global Tactical Commodity Strategy Fund) are both Commodities funds. DBC is passively managed, while FTGC is actively managed. Over the past 10 years, DBC returned 9.10%/yr vs 7.77%/yr for FTGC. Their correlation of 0.83 suggests significant overlap in exposure. DBC charges 0.85%/yr vs 0.95%/yr for FTGC.
Performance
DBC vs. FTGC - Performance Comparison
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Returns By Period
In the year-to-date period, DBC achieves a 35.47% return, which is significantly higher than FTGC's 27.15% return. Over the past 10 years, DBC has outperformed FTGC with an annualized return of 9.10%, while FTGC has yielded a comparatively lower 7.77% annualized 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%
FTGC
- 1D
- -0.44%
- 1M
- -2.63%
- YTD
- 27.15%
- 6M
- 26.06%
- 1Y
- 41.32%
- 3Y*
- 18.13%
- 5Y*
- 13.08%
- 10Y*
- 7.77%
DBC vs. FTGC - 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% | 4.86% |
FTGC First Trust Global Tactical Commodity Strategy Fund | 27.15% | 14.61% | 9.96% | -5.36% | 17.36% | 27.95% | 2.17% | 6.40% | -12.75% | 2.73% |
Correlation
The correlation between DBC and FTGC is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Oct 24, 2013 | 0.83 |
The correlation between DBC and FTGC has been stable across timeframes, ranging from 0.83 to 0.92 - a consistent structural relationship.
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Return for Risk
DBC vs. FTGC — Risk / Return Rank
DBC
FTGC
DBC vs. FTGC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB Commodity Index Tracking Fund (DBC) and First Trust Global Tactical Commodity Strategy Fund (FTGC). 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 | FTGC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.19 | ||
| Sortino ratioReturn per unit of downside risk | -0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.47 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 6.54 | 5.25 | +1.29 |
| Martin ratioReturn relative to average drawdown | 13.91 | 17.39 | -3.47 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DBC | FTGC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.47 | 2.66 | -0.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.67 | 0.82 | -0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.51 | 0.53 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 0.24 | -0.12 |
Drawdowns
DBC vs. FTGC - Drawdown Comparison
The maximum DBC drawdown since its inception was -76.36%, which is greater than FTGC's maximum drawdown of -59.47%. Use the drawdown chart below to compare losses from any high point for DBC and FTGC.
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Drawdown Indicators
| DBC | FTGC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.36% | -59.47% | -16.89% |
Max Drawdown (1Y)Largest decline over 1 year | -7.05% | -7.91% | +0.86% |
Max Drawdown (3Y)Largest decline over 3 years | -13.82% | -10.39% | -3.43% |
Max Drawdown (5Y)Largest decline over 5 years | -27.34% | -22.64% | -4.70% |
Max Drawdown (10Y)Largest decline over 10 years | -41.71% | -35.91% | -5.80% |
Current DrawdownCurrent decline from peak | -21.64% | -4.65% | -16.99% |
Average DrawdownAverage peak-to-trough decline | -46.22% | -27.42% | -18.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.31% | 2.38% | +0.93% |
Volatility
DBC vs. FTGC - Volatility Comparison
Invesco DB Commodity Index Tracking Fund (DBC) has a higher volatility of 6.45% compared to First Trust Global Tactical Commodity Strategy Fund (FTGC) at 4.50%. This indicates that DBC's price experiences larger fluctuations and is considered to be riskier than FTGC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBC | FTGC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.45% | 4.50% | +1.95% |
Volatility (6M)Calculated over the trailing 6-month period | 15.75% | 13.15% | +2.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.68% | 15.59% | +3.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.18% | 16.00% | +3.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.81% | 14.71% | +3.10% |
DBC vs. FTGC - Expense Ratio Comparison
DBC has a 0.85% expense ratio, which is lower than FTGC's 0.95% expense ratio.
Dividends
DBC vs. FTGC - Dividend Comparison
DBC's dividend yield for the trailing twelve months is around 2.46%, less than FTGC's 15.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
FTGC First Trust Global Tactical Commodity Strategy Fund | 15.08% | 17.74% | 3.05% | 3.34% | 10.35% | 7.21% | 0.00% | 0.81% | 0.80% | 1.21% |
Frequently Asked Questions
With a correlation of 0.92, DBC and FTGC 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 FTGC (4.50%). In terms of maximum drawdown, DBC dropped -76.36% vs FTGC's -59.47%.
On 10-year performance, DBC leads with 9.10% vs 7.77% for FTGC. On fees, DBC is cheaper at 0.85% per year. On volatility, FTGC has been the lower-risk option at 4.50%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DBC has performed better with a 9.10% return vs 7.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DBC is cheaper with a 0.85% expense ratio, compared with 0.95% for FTGC.
FTGC has the higher dividend yield at 15.08%, compared with 2.46% for DBC.
They also come from different issuers: Invesco and First Trust. Their fees differ too: 0.85% for DBC and 0.95% for FTGC.
FTGC currently has the higher Sharpe Ratio (2.66 vs 2.47), 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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