DBC vs. USCI
Compare and contrast key facts about Invesco DB Commodity Index Tracking Fund (DBC) and United States Commodity Index Fund (USCI).
DBC and USCI 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. USCI is a passively managed fund by Concierge Technologies that tracks the performance of the SummerHaven Dynamic Commodity (TR). It was launched on Aug 10, 2010. Both DBC and USCI are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
DBC vs. USCI - Performance Comparison
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DBC vs. USCI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DBC Invesco DB Commodity Index Tracking Fund | 29.47% | 8.10% | 2.18% | -6.19% | 19.34% | 41.36% | -7.84% | 11.84% | -11.63% | 4.86% |
USCI United States Commodity Index Fund | 22.82% | 17.63% | 17.24% | -0.00% | 29.47% | 33.07% | -11.47% | -1.68% | -11.76% | 6.32% |
Returns By Period
In the year-to-date period, DBC achieves a 29.47% return, which is significantly higher than USCI's 22.82% return. Over the past 10 years, DBC has outperformed USCI with an annualized return of 10.12%, while USCI has yielded a comparatively lower 9.00% annualized return.
DBC
- 1D
- -1.06%
- 1M
- 15.34%
- YTD
- 29.47%
- 6M
- 32.82%
- 1Y
- 33.00%
- 3Y*
- 11.68%
- 5Y*
- 14.52%
- 10Y*
- 10.12%
USCI
- 1D
- -0.70%
- 1M
- 11.64%
- YTD
- 22.82%
- 6M
- 22.37%
- 1Y
- 32.16%
- 3Y*
- 20.66%
- 5Y*
- 21.59%
- 10Y*
- 9.00%
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DBC vs. USCI - Expense Ratio Comparison
DBC has a 0.85% expense ratio, which is lower than USCI's 1.03% expense ratio.
Return for Risk
DBC vs. USCI — Risk / Return Rank
DBC
USCI
DBC vs. USCI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB Commodity Index Tracking Fund (DBC) and United States Commodity Index Fund (USCI). 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 | USCI | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.77 | 1.76 | +0.01 |
Sortino ratioReturn per unit of downside risk | 2.36 | 2.28 | +0.08 |
Omega ratioGain probability vs. loss probability | 1.32 | 1.30 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 3.17 | 2.76 | +0.41 |
Martin ratioReturn relative to average drawdown | 8.16 | 9.39 | -1.23 |
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 | USCI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.77 | 1.76 | +0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.77 | 1.18 | -0.41 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.57 | 0.57 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.11 | 0.29 | -0.18 |
Correlation
The correlation between DBC and USCI is 0.81, 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.
Dividends
DBC vs. USCI - Dividend Comparison
DBC's dividend yield for the trailing twelve months is around 2.57%, while USCI has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
DBC Invesco DB Commodity Index Tracking Fund | 2.57% | 3.33% | 5.22% | 4.94% | 0.59% | 0.00% | 0.00% | 1.59% | 1.30% |
USCI United States Commodity Index Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
DBC vs. USCI - Drawdown Comparison
The maximum DBC drawdown since its inception was -76.36%, which is greater than USCI's maximum drawdown of -66.41%. Use the drawdown chart below to compare losses from any high point for DBC and USCI.
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Drawdown Indicators
| DBC | USCI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.36% | -66.41% | -9.95% |
Max Drawdown (1Y)Largest decline over 1 year | -10.99% | -12.01% | +1.02% |
Max Drawdown (5Y)Largest decline over 5 years | -27.34% | -18.84% | -8.50% |
Max Drawdown (10Y)Largest decline over 10 years | -41.71% | -45.82% | +4.11% |
Current DrawdownCurrent decline from peak | -25.10% | -0.70% | -24.40% |
Average DrawdownAverage peak-to-trough decline | -46.43% | -29.82% | -16.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.27% | 3.53% | +0.74% |
Volatility
DBC vs. USCI - Volatility Comparison
Invesco DB Commodity Index Tracking Fund (DBC) has a higher volatility of 8.17% compared to United States Commodity Index Fund (USCI) at 6.98%. This indicates that DBC's price experiences larger fluctuations and is considered to be riskier than USCI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBC | USCI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.17% | 6.98% | +1.19% |
Volatility (6M)Calculated over the trailing 6-month period | 13.92% | 13.85% | +0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.77% | 18.38% | +0.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.98% | 18.42% | +0.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.72% | 15.78% | +1.94% |