DBCMX vs. DCMSX

Last updated Jun 4, 2026

DBCMX (DoubleLine Strategic Commodity Fund) and DCMSX (DFA Commodity Strategy Portfolio) are both Commodities funds. Over the past 10 years, DBCMX returned 7.08%/yr vs 7.72%/yr for DCMSX. A 0.76 correlation means they provide meaningful diversification when combined. DBCMX charges 1.02%/yr vs 0.31%/yr for DCMSX.

Performance

DBCMX vs. DCMSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DoubleLine Strategic Commodity Fund (DBCMX) and DFA Commodity Strategy Portfolio (DCMSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with DBCMX having a 29.36% return and DCMSX slightly higher at 30.71%. Over the past 10 years, DBCMX has underperformed DCMSX with an annualized return of 7.08%, while DCMSX has yielded a comparatively higher 7.72% annualized return.

DBCMX

• 1D: 0.32%
• 1M: -0.85%
• YTD: 29.36%
• 6M: 30.72%
• 1Y: 37.84%
• 3Y*: 12.44%
• 5Y*: 9.83%
• 10Y*: 7.08%

DCMSX

• 1D: 0.33%
• 1M: -2.57%
• YTD: 30.71%
• 6M: 29.48%
• 1Y: 42.92%
• 3Y*: 17.27%
• 5Y*: 12.32%
• 10Y*: 7.72%

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

DBCMX vs. DCMSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DBCMX DoubleLine Strategic Commodity Fund	29.36%	6.10%	0.45%	-3.96%	13.40%	31.24%	-6.07%	4.78%	-10.65%	9.17%
DCMSX DFA Commodity Strategy Portfolio	30.71%	15.15%	5.90%	-9.14%	11.36%	33.54%	-1.78%	7.96%	-11.22%	2.73%

Correlation

The correlation between DBCMX and DCMSX is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.76

The correlation between DBCMX and DCMSX has been stable across timeframes, ranging from 0.76 to 0.81 - a consistent structural relationship.

Return for Risk

DBCMX vs. DCMSX — Risk / Return Rank

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

DBCMX

DBCMX Risk / Return Rank: 87
DBCMX Sharpe Ratio Rank: 87
DBCMX Sortino Ratio Rank: 78
DBCMX Omega Ratio Rank: 77
DBCMX Calmar Ratio Rank: 97
DBCMX Martin Ratio Rank: 97

DCMSX

DCMSX Risk / Return Rank: 81
DCMSX Sharpe Ratio Rank: 84
DCMSX Sortino Ratio Rank: 67
DCMSX Omega Ratio Rank: 73
DCMSX Calmar Ratio Rank: 96
DCMSX Martin Ratio Rank: 86

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.

DBCMX vs. DCMSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DoubleLine Strategic Commodity Fund (DBCMX) and DFA Commodity Strategy Portfolio (DCMSX). 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.

	DBCMX	DCMSX	Difference
Sharpe ratio: Return per unit of total volatility	2.84	2.71	+0.13
Sortino ratio: Return per unit of downside risk	3.72	3.42	+0.30
Omega ratio: Gain probability vs. loss probability	1.50	1.48	+0.02
Calmar ratio: Return relative to maximum drawdown	7.09	6.10	+0.99
Martin ratio: Return relative to average drawdown	26.68	16.43	+10.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DBCMX vs. DCMSX - Sharpe Ratio Comparison

The current DBCMX Sharpe Ratio is 2.84, which is comparable to the DCMSX Sharpe Ratio of 2.71. The chart below compares the historical Sharpe Ratios of DBCMX and DCMSX, 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

	DBCMX	DCMSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.84	2.71	+0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	0.76	-0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	0.54	-0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.11	+0.42

Drawdowns

DBCMX vs. DCMSX - Drawdown Comparison

The maximum DBCMX drawdown since its inception was -37.62%, smaller than the maximum DCMSX drawdown of -60.94%. Use the drawdown chart below to compare losses from any high point for DBCMX and DCMSX.

Drawdown Indicators

	DBCMX	DCMSX	Difference
Max Drawdown Largest peak-to-trough decline	-37.62%	-60.94%	+23.32%
Max Drawdown (1Y) Largest decline over 1 year	-5.48%	-7.21%	+1.73%
Max Drawdown (3Y) Largest decline over 3 years	-14.75%	-11.10%	-3.65%
Max Drawdown (5Y) Largest decline over 5 years	-27.60%	-27.93%	+0.33%
Max Drawdown (10Y) Largest decline over 10 years	-37.62%	-32.52%	-5.10%
Current Drawdown Current decline from peak	-3.51%	-3.81%	+0.30%
Average Drawdown Average peak-to-trough decline	-13.27%	-31.79%	+18.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.45%	2.66%	-1.21%

Volatility

DBCMX vs. DCMSX - Volatility Comparison

DoubleLine Strategic Commodity Fund (DBCMX) has a higher volatility of 5.92% compared to DFA Commodity Strategy Portfolio (DCMSX) at 5.53%. This indicates that DBCMX's price experiences larger fluctuations and is considered to be riskier than DCMSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DBCMX	DCMSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.92%	5.53%	+0.39%
Volatility (6M) Calculated over the trailing 6-month period	12.23%	14.09%	-1.86%
Volatility (1Y) Calculated over the trailing 1-year period	13.71%	16.32%	-2.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.33%	16.31%	+0.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.64%	14.48%	+0.16%

DBCMX vs. DCMSX - Expense Ratio Comparison

DBCMX has a 1.02% expense ratio, which is higher than DCMSX's 0.31% expense ratio.

Dividends

DBCMX vs. DCMSX - Dividend Comparison

DBCMX's dividend yield for the trailing twelve months is around 2.35%, less than DCMSX's 8.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DBCMX DoubleLine Strategic Commodity Fund	2.35%	3.04%	2.89%	3.30%	46.88%	13.53%	0.00%	1.04%	1.21%	5.23%	0.51%	0.00%
DCMSX DFA Commodity Strategy Portfolio	8.06%	10.75%	2.83%	2.52%	7.46%	49.44%	0.37%	1.51%	1.63%	3.09%	0.47%	0.15%

Frequently Asked Questions

Can I hold both DBCMX and DCMSX in my portfolio?

DBCMX and DCMSX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DBCMX or DCMSX?

DBCMX has higher volatility (5.92%) compared to DCMSX (5.53%). In terms of maximum drawdown, DBCMX dropped -37.62% vs DCMSX's -60.94%.

Which has better risk-adjusted returns?

DBCMX currently has the higher Sharpe Ratio (2.84 vs 2.71), 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.