DBC vs. VYMI

Last updated Jun 9, 2026

DBC (Invesco DB Commodity Index Tracking Fund) and VYMI (Vanguard International High Dividend Yield ETF) are both exchange-traded funds - DBC is a Commodities fund tracking the DBIQ Optimum Yield Diversified Commodity Index Excess Return, while VYMI is a Dividend fund tracking the FTSE All-World ex US High Dividend Yield Index. Both are passively managed. Over the past 10 years, DBC returned 8.54%/yr vs 10.62%/yr for VYMI. At a 0.37 correlation, their price movements are largely independent. DBC charges 0.85%/yr vs 0.07%/yr for VYMI.

Performance

DBC vs. VYMI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco DB Commodity Index Tracking Fund (DBC) and Vanguard International High Dividend Yield ETF (VYMI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DBC achieves a 31.80% return, which is significantly higher than VYMI's 10.04% return. Over the past 10 years, DBC has underperformed VYMI with an annualized return of 8.54%, while VYMI has yielded a comparatively higher 10.62% annualized return.

DBC

• 1D: 0.82%
• 1M: -2.74%
• YTD: 31.80%
• 6M: 32.21%
• 1Y: 40.70%
• 3Y*: 14.11%
• 5Y*: 12.01%
• 10Y*: 8.54%

VYMI

• 1D: 0.24%
• 1M: -1.37%
• YTD: 10.04%
• 6M: 13.58%
• 1Y: 27.88%
• 3Y*: 20.99%
• 5Y*: 11.79%
• 10Y*: 10.62%

*Multi-year figures are annualized to reflect compound growth (CAGR)

DBC vs. VYMI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DBC Invesco DB Commodity Index Tracking Fund	31.80%	8.10%	2.18%	-6.19%	19.34%	41.36%	-7.84%	11.84%	-11.63%	4.86%
VYMI Vanguard International High Dividend Yield ETF	10.04%	38.05%	7.06%	17.07%	-7.02%	15.39%	-1.11%	18.43%	-12.65%	22.36%

Correlation

The correlation between DBC and VYMI is -0.12, 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	-0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.29
Correlation (10Y) Calculated over the trailing 10-year period	0.36
Correlation (All Time) Calculated using the full available price history since Mar 3, 2016	0.37

The correlation between DBC and VYMI shifts across timeframes, from -0.12 (1 year) to 0.37 (all time), reflecting how their relationship changes across market environments.

DBC vs. VYMI - Sectors Allocation Comparison

Sectors	DBC	VYMI
Financial Services	91.5%	41.9%
Basic Materials	-	6.8%
Communication Services	-	4.0%
Consumer Cyclical	-	6.5%
Consumer Defensive	-	7.0%
Energy	-	9.5%
Healthcare	-	6.6%
Industrials	-	6.6%
Real Estate	-	1.3%
Technology	-	4.3%
Utilities	-	5.6%

Return for Risk

DBC vs. VYMI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DBC

DBC Risk / Return Rank: 75
DBC Sharpe Ratio Rank: 74
DBC Sortino Ratio Rank: 68
DBC Omega Ratio Rank: 70
DBC Calmar Ratio Rank: 91
DBC Martin Ratio Rank: 71

VYMI

VYMI Risk / Return Rank: 69
VYMI Sharpe Ratio Rank: 73
VYMI Sortino Ratio Rank: 72
VYMI Omega Ratio Rank: 72
VYMI Calmar Ratio Rank: 61
VYMI Martin Ratio Rank: 65

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DBC vs. VYMI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco DB Commodity Index Tracking Fund (DBC) and Vanguard International High Dividend Yield ETF (VYMI). 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	VYMI	Difference
Sharpe ratio: Return per unit of total volatility	2.17	2.14	+0.03
Sortino ratio: Return per unit of downside risk	2.81	2.91	-0.10
Omega ratio: Gain probability vs. loss probability	1.38	1.39	-0.01
Calmar ratio: Return relative to maximum drawdown	5.27	2.76	+2.51
Martin ratio: Return relative to average drawdown	12.03	10.83	+1.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DBC vs. VYMI - Sharpe Ratio Comparison

The current DBC Sharpe Ratio is 2.17, which is comparable to the VYMI Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of DBC and VYMI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DBC	VYMI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.17	2.14	+0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.80	-0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	0.63	-0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.11	0.64	-0.53

Drawdowns

DBC vs. VYMI - Drawdown Comparison

The maximum DBC drawdown since its inception was -76.36%, which is greater than VYMI's maximum drawdown of -40.00%. Use the drawdown chart below to compare losses from any high point for DBC and VYMI.

Drawdown Indicators

	DBC	VYMI	Difference
Max Drawdown Largest peak-to-trough decline	-76.36%	-40.00%	-36.36%
Max Drawdown (1Y) Largest decline over 1 year	-7.76%	-10.14%	+2.38%
Max Drawdown (3Y) Largest decline over 3 years	-13.82%	-12.84%	-0.98%
Max Drawdown (5Y) Largest decline over 5 years	-27.34%	-24.05%	-3.29%
Max Drawdown (10Y) Largest decline over 10 years	-41.71%	-40.00%	-1.71%
Current Drawdown Current decline from peak	-23.76%	-2.52%	-21.24%
Average Drawdown Average peak-to-trough decline	-46.21%	-6.31%	-39.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.39%	2.58%	+0.81%

Volatility

DBC vs. VYMI - Volatility Comparison

Invesco DB Commodity Index Tracking Fund (DBC) has a higher volatility of 6.20% compared to Vanguard International High Dividend Yield ETF (VYMI) at 3.69%. This indicates that DBC's price experiences larger fluctuations and is considered to be riskier than VYMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DBC	VYMI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.20%	3.69%	+2.51%
Volatility (6M) Calculated over the trailing 6-month period	16.02%	10.94%	+5.08%
Volatility (1Y) Calculated over the trailing 1-year period	18.91%	13.13%	+5.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.20%	14.87%	+4.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.82%	16.88%	+0.94%

DBC vs. VYMI - Expense Ratio Comparison

DBC has a 0.85% expense ratio, which is higher than VYMI's 0.07% expense ratio.

Dividends

DBC vs. VYMI - Dividend Comparison

DBC's dividend yield for the trailing twelve months is around 2.53%, less than VYMI's 3.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DBC Invesco DB Commodity Index Tracking Fund	2.53%	3.33%	5.22%	4.94%	0.59%	0.00%	0.00%	1.59%	1.30%	0.00%	0.00%
VYMI Vanguard International High Dividend Yield ETF	3.48%	3.68%	4.84%	4.58%	4.70%	4.30%	3.22%	4.20%	4.29%	3.21%	2.39%

Frequently Asked Questions

Can I hold both DBC and VYMI in my portfolio?

DBC and VYMI have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DBC or VYMI?

DBC has higher volatility (6.20%) compared to VYMI (3.69%). In terms of maximum drawdown, DBC dropped -76.36% vs VYMI's -40.00%.

Which ETF is better, DBC or VYMI?

On 10-year performance, VYMI leads with 10.62% vs 8.54% for DBC. On fees, VYMI is cheaper at 0.07% per year. On volatility, VYMI has been the lower-risk option at 3.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DBC or VYMI?

Over the 10-year period, VYMI has performed better with a 10.62% return vs 8.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DBC or VYMI?

VYMI is cheaper with a 0.07% expense ratio, compared with 0.85% for DBC.

Which ETF pays a higher dividend yield, DBC or VYMI?

VYMI has the higher dividend yield at 3.48%, compared with 2.53% for DBC.

What is the main difference between DBC and VYMI?

DBC is categorized as Commodities, while VYMI is Dividend. DBC tracks DBIQ Optimum Yield Diversified Commodity Index Excess Return, while VYMI tracks FTSE All-World ex US High Dividend Yield Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.85% for DBC and 0.07% for VYMI.

Which has better risk-adjusted returns?

DBC currently has the higher Sharpe Ratio (2.17 vs 2.14), 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.