DBCMX vs. PCLPX

Last updated Jun 23, 2026

DBCMX (DoubleLine Strategic Commodity Fund) and PCLPX (PIMCO CommoditiesPLUS Strategy I2) are both Commodities funds. Over the past 10 years, DBCMX returned 6.24%/yr vs 10.53%/yr for PCLPX. Their correlation of 0.82 suggests significant overlap in exposure. DBCMX charges 1.02%/yr vs 0.92%/yr for PCLPX.

Performance

DBCMX vs. PCLPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DoubleLine Strategic Commodity Fund (DBCMX) and PIMCO CommoditiesPLUS Strategy I2 (PCLPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DBCMX achieves a 21.33% return, which is significantly lower than PCLPX's 26.13% return. Over the past 10 years, DBCMX has underperformed PCLPX with an annualized return of 6.24%, while PCLPX has yielded a comparatively higher 10.53% annualized return.

DBCMX

• 1D: -0.79%
• 1M: -6.71%
• YTD: 21.33%
• 6M: 23.44%
• 1Y: 25.16%
• 3Y*: 8.77%
• 5Y*: 9.17%
• 10Y*: 6.24%

PCLPX

• 1D: -0.77%
• 1M: -8.96%
• YTD: 26.13%
• 6M: 24.83%
• 1Y: 25.23%
• 3Y*: 12.30%
• 5Y*: 14.13%
• 10Y*: 10.53%

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

DBCMX vs. PCLPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DBCMX DoubleLine Strategic Commodity Fund	21.33%	6.10%	0.45%	-3.96%	13.40%	31.24%	-6.07%	4.78%	-10.65%	9.17%
PCLPX PIMCO CommoditiesPLUS Strategy I2	26.13%	4.45%	5.92%	0.24%	23.04%	43.50%	-9.12%	19.39%	-12.15%	10.53%

Correlation

The correlation between DBCMX and PCLPX is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.82

The correlation between DBCMX and PCLPX has been stable across timeframes, ranging from 0.82 to 0.89 - a consistent structural relationship.

Return for Risk

DBCMX vs. PCLPX — Risk / Return Rank

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

DBCMX

DBCMX Risk / Return Rank: 48
DBCMX Sharpe Ratio Rank: 43
DBCMX Sortino Ratio Rank: 40
DBCMX Omega Ratio Rank: 40
DBCMX Calmar Ratio Rank: 52
DBCMX Martin Ratio Rank: 64

PCLPX

PCLPX Risk / Return Rank: 28
PCLPX Sharpe Ratio Rank: 24
PCLPX Sortino Ratio Rank: 21
PCLPX Omega Ratio Rank: 24
PCLPX Calmar Ratio Rank: 34
PCLPX Martin Ratio Rank: 37

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. PCLPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DoubleLine Strategic Commodity Fund (DBCMX) and PIMCO CommoditiesPLUS Strategy I2 (PCLPX). 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.

	DBCMX	PCLPX	Difference
Sharpe ratio: Return per unit of total volatility	1.80	1.30	+0.49
Sortino ratio: Return per unit of downside risk	2.45	1.79	+0.66
Omega ratio: Gain probability vs. loss probability	1.32	1.24	+0.08
Calmar ratio: Return relative to maximum drawdown	2.64	2.07	+0.57
Martin ratio: Return relative to average drawdown	11.88	7.65	+4.24

DBCMX vs. PCLPX - Sharpe Ratio Comparison

The current DBCMX Sharpe Ratio is 1.80, which is higher than the PCLPX Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of DBCMX and PCLPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DBCMX vs. PCLPX - Drawdown Comparison

The maximum DBCMX drawdown since its inception was -37.62%, smaller than the maximum PCLPX drawdown of -66.98%. Use the drawdown chart below to compare losses from any high point for DBCMX and PCLPX.

Drawdown Indicators

	DBCMX	PCLPX	Difference
Max Drawdown Largest peak-to-trough decline	-37.62%	-66.98%	+29.36%
Max Drawdown (1Y) Largest decline over 1 year	-9.50%	-12.18%	+2.68%
Max Drawdown (3Y) Largest decline over 3 years	-14.75%	-13.55%	-1.20%
Max Drawdown (5Y) Largest decline over 5 years	-27.60%	-21.53%	-6.07%
Max Drawdown (10Y) Largest decline over 10 years	-37.62%	-51.87%	+14.25%
Current Drawdown Current decline from peak	-9.50%	-12.18%	+2.68%
Average Drawdown Average peak-to-trough decline	-13.23%	-24.60%	+11.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.11%	3.33%	-1.22%

Volatility

DBCMX vs. PCLPX - Volatility Comparison

The current volatility for DoubleLine Strategic Commodity Fund (DBCMX) is 4.08%, while PIMCO CommoditiesPLUS Strategy I2 (PCLPX) has a volatility of 4.93%. This indicates that DBCMX experiences smaller price fluctuations and is considered to be less risky than PCLPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DBCMX	PCLPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.08%	4.93%	-0.85%
Volatility (6M) Calculated over the trailing 6-month period	12.47%	17.18%	-4.71%
Volatility (1Y) Calculated over the trailing 1-year period	13.98%	19.42%	-5.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.28%	19.53%	-3.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.64%	40.61%	-25.97%

DBCMX vs. PCLPX - Expense Ratio Comparison

DBCMX has a 1.02% expense ratio, which is higher than PCLPX's 0.92% expense ratio.

Dividends

DBCMX vs. PCLPX - Dividend Comparison

DBCMX's dividend yield for the trailing twelve months is around 2.50%, less than PCLPX's 11.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DBCMX DoubleLine Strategic Commodity Fund	2.50%	3.04%	2.89%	3.30%	46.88%	13.53%	0.00%	1.04%	1.21%	5.23%	0.51%	0.00%
PCLPX PIMCO CommoditiesPLUS Strategy I2	11.22%	1.31%	5.22%	4.65%	43.16%	74.10%	0.71%	2.39%	18.62%	12.52%	0.15%	1.92%

Frequently Asked Questions

Can I hold both DBCMX and PCLPX in my portfolio?

DBCMX and PCLPX have a correlation of 0.89, 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 PCLPX?

PCLPX has higher volatility (4.93%) compared to DBCMX (4.08%). In terms of maximum drawdown, DBCMX dropped -37.62% vs PCLPX's -66.98%.

Which has better risk-adjusted returns?

DBCMX currently has the higher Sharpe Ratio (1.80 vs 1.30), 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.