DBC vs. WMT
DBC (Invesco DB Commodity Index Tracking Fund) is Commodities fund tracking the DBIQ Optimum Yield Diversified Commodity Index Excess Return, while WMT (Walmart Inc.) is a stock. Over the past 10 years, DBC returned 9.54%/yr vs 18.40%/yr for WMT. Their 0.05 correlation means their historical movements had little consistent relationship.
Performance
DBC vs. WMT - Performance Comparison
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Returns By Period
In the year-to-date period, DBC achieves a 31.71% return, which is significantly higher than WMT's 0.21% return. Over the past 10 years, DBC has underperformed WMT with an annualized return of 9.54%, while WMT has yielded a comparatively higher 18.40% annualized return.
DBC
- 1D
- 0.44%
- 1M
- 11.34%
- 6M
- 20.55%
- YTD
- 31.71%
- 1Y
- 35.60%
- 3Y*
- 11.07%
- 5Y*
- 11.66%
- 10Y*
- 9.54%
- ALL TIME*
- 2.04%
WMT
- 1D
- 0.09%
- 1M
- 2.19%
- 6M
- -6.30%
- YTD
- 0.21%
- 1Y
- 14.44%
- 3Y*
- 29.39%
- 5Y*
- 20.06%
- 10Y*
- 18.40%
- ALL TIME*
- 18.36%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $27.92M | $29.19M | $34.33M | |
WMT Walmart Inc. | $2.47B | $2.41B | $2.70B |
DBC vs. WMT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DBC Invesco DB Commodity Index Tracking Fund | 31.71% | 8.10% | 2.18% | -6.19% | 19.34% | 41.36% | -7.84% | 11.84% | -11.63% | 4.86% |
WMT Walmart Inc. | 0.21% | 24.49% | 73.99% | 12.88% | -0.46% | 1.97% | 23.32% | 30.16% | -3.43% | 46.56% |
Correlation
The correlation between DBC and WMT is -0.02, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.02 |
Correlation (3Y) Balances recent behavior with more history. | 0.00 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.02 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.06 |
Correlation (All Time) Calculated using the full available price history since Feb 6, 2006 | 0.05 |
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Return for Risk
DBC vs. WMT — Risk / Return Rank
DBC
WMT
DBC vs. WMT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB Commodity Index Tracking Fund (DBC) and Walmart Inc. (WMT). 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 | WMT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.24 | ||
| Sortino ratioReturn per unit of downside risk | +1.46 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.12 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 2.16 | 0.75 | +1.41 |
| Martin ratioReturn relative to average drawdown | 7.20 | 1.96 | +5.24 |
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Drawdowns
DBC vs. WMT - Drawdown Comparison
The maximum DBC drawdown since its inception was -76.36%, roughly equal to the maximum WMT drawdown of -77.14%. Use the drawdown chart below to compare losses from any high point for DBC and WMT.
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Drawdown Indicators
| DBC | WMT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.36% | -77.14% | +0.78% |
Max Drawdown (1Y)Largest decline over 1 year | -16.54% | -19.23% | +2.69% |
Max Drawdown (3Y)Largest decline over 3 years | -16.54% | -21.93% | +5.39% |
Max Drawdown (5Y)Largest decline over 5 years | -27.34% | -25.74% | -1.60% |
Max Drawdown (10Y)Largest decline over 10 years | -41.71% | -25.74% | -15.97% |
Current DrawdownCurrent decline from peak | -23.81% | -17.14% | -6.67% |
Average DrawdownAverage peak-to-trough decline | -46.07% | -14.63% | -31.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.00% | 7.39% | -2.39% |
Volatility
DBC vs. WMT - Volatility Comparison
Invesco DB Commodity Index Tracking Fund (DBC) and Walmart Inc. (WMT) have volatilities of 7.01% and 6.81%, 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 | WMT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.01% | 6.81% | +0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 17.35% | 19.61% | -2.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.58% | 24.77% | -5.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.31% | 21.96% | -2.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.87% | 21.90% | -4.03% |
Dividends
DBC vs. WMT - Dividend Comparison
DBC's dividend yield for the trailing twelve months is around 2.53%, more than WMT's 0.87% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
WMT Walmart Inc. | 0.87% | 0.84% | 0.92% | 1.45% | 1.58% | 1.52% | 1.50% | 1.78% | 2.23% | 2.07% | 2.89% | 3.20% |
Frequently Asked Questions
DBC and WMT have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBC has higher volatility (7.01%) compared to WMT (6.81%). In terms of maximum drawdown, DBC dropped -76.36% vs WMT's -77.14%.
DBC currently has the higher Sharpe Ratio (1.83 vs 0.59), 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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