DBC vs. GCC
DBC (Invesco DB Commodity Index Tracking Fund) and GCC (WisdomTree Enhanced Commodity Strategy Fund) are both Commodities funds. DBC is passively managed, while GCC is actively managed. Over the past 10 years, DBC returned 9.10%/yr vs 6.84%/yr for GCC. Their correlation of 0.80 suggests significant overlap in exposure. DBC charges 0.85%/yr vs 0.55%/yr for GCC.
Performance
DBC vs. GCC - 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 GCC's 18.63% return. Over the past 10 years, DBC has outperformed GCC with an annualized return of 9.10%, while GCC has yielded a comparatively lower 6.84% 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%
GCC
- 1D
- -0.48%
- 1M
- -1.53%
- YTD
- 18.63%
- 6M
- 21.66%
- 1Y
- 37.16%
- 3Y*
- 19.03%
- 5Y*
- 11.48%
- 10Y*
- 6.84%
DBC vs. GCC - 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% |
GCC WisdomTree Enhanced Commodity Strategy Fund | 18.63% | 20.01% | 15.13% | -3.72% | 7.74% | 19.96% | 1.38% | 7.07% | -8.69% | -0.57% |
Correlation
The correlation between DBC and GCC is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Jan 25, 2008 | 0.80 |
The correlation between DBC and GCC shifts across timeframes, from 0.75 (1 year) to 0.86 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
DBC vs. GCC — Risk / Return Rank
DBC
GCC
DBC vs. GCC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB Commodity Index Tracking Fund (DBC) and WisdomTree Enhanced Commodity Strategy Fund (GCC). 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 | GCC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.23 | ||
| Sortino ratioReturn per unit of downside risk | +0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.42 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 6.54 | 3.64 | +2.90 |
| Martin ratioReturn relative to average drawdown | 13.91 | 13.42 | +0.49 |
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 | GCC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.47 | 2.24 | +0.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.67 | 0.68 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.51 | 0.46 | +0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 0.08 | +0.04 |
Drawdowns
DBC vs. GCC - Drawdown Comparison
The maximum DBC drawdown since its inception was -76.36%, which is greater than GCC's maximum drawdown of -63.19%. Use the drawdown chart below to compare losses from any high point for DBC and GCC.
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Drawdown Indicators
| DBC | GCC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.36% | -63.19% | -13.17% |
Max Drawdown (1Y)Largest decline over 1 year | -7.05% | -10.25% | +3.20% |
Max Drawdown (3Y)Largest decline over 3 years | -13.82% | -11.22% | -2.60% |
Max Drawdown (5Y)Largest decline over 5 years | -27.34% | -27.07% | -0.27% |
Max Drawdown (10Y)Largest decline over 10 years | -41.71% | -32.93% | -8.78% |
Current DrawdownCurrent decline from peak | -21.64% | -5.29% | -16.35% |
Average DrawdownAverage peak-to-trough decline | -46.22% | -34.91% | -11.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.31% | 2.78% | +0.53% |
Volatility
DBC vs. GCC - Volatility Comparison
Invesco DB Commodity Index Tracking Fund (DBC) has a higher volatility of 6.45% compared to WisdomTree Enhanced Commodity Strategy Fund (GCC) at 4.53%. This indicates that DBC's price experiences larger fluctuations and is considered to be riskier than GCC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBC | GCC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.45% | 4.53% | +1.92% |
Volatility (6M)Calculated over the trailing 6-month period | 15.75% | 14.76% | +0.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.68% | 16.63% | +2.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.18% | 16.93% | +2.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.81% | 14.77% | +3.04% |
DBC vs. GCC - Expense Ratio Comparison
DBC has a 0.85% expense ratio, which is higher than GCC's 0.55% expense ratio.
Dividends
DBC vs. GCC - Dividend Comparison
DBC's dividend yield for the trailing twelve months is around 2.46%, less than GCC's 5.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
GCC WisdomTree Enhanced Commodity Strategy Fund | 5.60% | 6.64% | 3.51% | 3.68% | 22.49% | 9.76% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DBC and GCC have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBC has higher volatility (6.45%) compared to GCC (4.53%). In terms of maximum drawdown, DBC dropped -76.36% vs GCC's -63.19%.
On 10-year performance, DBC leads with 9.10% vs 6.84% for GCC. On fees, GCC is cheaper at 0.55% per year. On volatility, GCC has been the lower-risk option at 4.53%. 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 6.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GCC is cheaper with a 0.55% expense ratio, compared with 0.85% for DBC.
GCC has the higher dividend yield at 5.60%, compared with 2.46% for DBC.
They also come from different issuers: Invesco and WisdomTree. Their fees differ too: 0.85% for DBC and 0.55% for GCC.
DBC currently has the higher Sharpe Ratio (2.47 vs 2.24), 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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