DBC vs. VT
DBC (Invesco DB Commodity Index Tracking Fund) and VT (Vanguard Total World Stock ETF) are both exchange-traded funds - DBC is a Commodities fund tracking the DBIQ Optimum Yield Diversified Commodity Index Excess Return, while VT is a Global Equities fund tracking the FTSE Global All Cap Index. Both are passively managed. Over the past 10 years, DBC returned 8.27%/yr vs 12.93%/yr for VT. At a 0.40 correlation, their price movements are largely independent. DBC charges 0.85%/yr vs 0.06%/yr for VT.
Performance
DBC vs. VT - Performance Comparison
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Returns By Period
In the year-to-date period, DBC achieves a 27.68% return, which is significantly higher than VT's 11.06% return. Over the past 10 years, DBC has underperformed VT with an annualized return of 8.27%, while VT has yielded a comparatively higher 12.93% annualized return.
DBC
- 1D
- -1.04%
- 1M
- -8.46%
- YTD
- 27.68%
- 6M
- 28.76%
- 1Y
- 30.29%
- 3Y*
- 12.92%
- 5Y*
- 11.29%
- 10Y*
- 8.27%
VT
- 1D
- 0.44%
- 1M
- 0.17%
- YTD
- 11.06%
- 6M
- 11.82%
- 1Y
- 27.43%
- 3Y*
- 19.71%
- 5Y*
- 10.65%
- 10Y*
- 12.93%
DBC vs. VT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DBC Invesco DB Commodity Index Tracking Fund | 27.68% | 8.10% | 2.18% | -6.19% | 19.34% | 41.36% | -7.84% | 11.84% | -11.63% | 4.86% |
VT Vanguard Total World Stock ETF | 11.06% | 22.43% | 16.49% | 22.02% | -18.00% | 18.27% | 16.59% | 26.81% | -9.76% | 24.50% |
Correlation
The correlation between DBC and VT is -0.16, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.20 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.29 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2008 | 0.40 |
The correlation between DBC and VT shifts across timeframes, from -0.16 (1 year) to 0.40 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DBC vs. VT — Risk / Return Rank
DBC
VT
DBC vs. VT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB Commodity Index Tracking Fund (DBC) and Vanguard Total World Stock ETF (VT). 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 | VT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.35 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.48 | 2.68 | +0.80 |
| Martin ratioReturn relative to average drawdown | 9.64 | 11.67 | -2.03 |
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Drawdowns
DBC vs. VT - Drawdown Comparison
The maximum DBC drawdown since its inception was -76.36%, which is greater than VT's maximum drawdown of -50.27%. Use the drawdown chart below to compare losses from any high point for DBC and VT.
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Drawdown Indicators
| DBC | VT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.36% | -50.27% | -26.09% |
Max Drawdown (1Y)Largest decline over 1 year | -9.91% | -9.67% | -0.24% |
Max Drawdown (3Y)Largest decline over 3 years | -13.82% | -16.51% | +2.69% |
Max Drawdown (5Y)Largest decline over 5 years | -27.34% | -26.38% | -0.96% |
Max Drawdown (10Y)Largest decline over 10 years | -41.71% | -34.24% | -7.47% |
Current DrawdownCurrent decline from peak | -26.14% | -1.92% | -24.22% |
Average DrawdownAverage peak-to-trough decline | -46.19% | -7.01% | -39.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.57% | 2.22% | +1.35% |
Volatility
DBC vs. VT - Volatility Comparison
Invesco DB Commodity Index Tracking Fund (DBC) and Vanguard Total World Stock ETF (VT) have volatilities of 5.20% and 5.26%, 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.
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Volatility by Period
| DBC | VT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.20% | 5.26% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 16.11% | 11.01% | +5.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.94% | 13.38% | +5.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.22% | 16.15% | +3.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.82% | 17.27% | +0.55% |
DBC vs. VT - Expense Ratio Comparison
DBC has a 0.85% expense ratio, which is higher than VT's 0.06% expense ratio.
Dividends
DBC vs. VT - Dividend Comparison
DBC's dividend yield for the trailing twelve months is around 2.61%, more than VT's 1.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBC Invesco DB Commodity Index Tracking Fund | 2.61% | 3.33% | 5.22% | 4.94% | 0.59% | 0.00% | 0.00% | 1.59% | 1.30% | 0.00% | 0.00% | 0.00% |
VT Vanguard Total World Stock ETF | 1.61% | 1.82% | 1.95% | 2.08% | 2.20% | 1.82% | 1.66% | 2.32% | 2.53% | 2.11% | 2.39% | 2.45% |
Frequently Asked Questions
DBC and VT have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VT has higher volatility (5.26%) compared to DBC (5.20%). In terms of maximum drawdown, DBC dropped -76.36% vs VT's -50.27%.
On 10-year performance, VT leads with 12.93% vs 8.27% for DBC. On fees, VT is cheaper at 0.06% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VT has performed better with a 12.93% return vs 8.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VT is cheaper with a 0.06% expense ratio, compared with 0.85% for DBC.
DBC has the higher dividend yield at 2.61%, compared with 1.61% for VT.
DBC is categorized as Commodities, while VT is Global Equities. DBC tracks DBIQ Optimum Yield Diversified Commodity Index Excess Return, while VT tracks FTSE Global All Cap Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.85% for DBC and 0.06% for VT.
VT currently has the higher Sharpe Ratio (1.94 vs 1.82), 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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