DEEP vs. DBC
DEEP (Roundhill Acquirers Deep Value ETF) and DBC (Invesco DB Commodity Index Tracking Fund) are both exchange-traded funds - DEEP is a Small Cap Value Equities fund tracking the DEEP-US - Acquirers Deep Value Index, while DBC is a Commodities fund tracking the DBIQ Optimum Yield Diversified Commodity Index Excess Return. Both are passively managed. Over the past 10 years, DEEP returned 8.35%/yr vs 8.90%/yr for DBC. Their 0.28 correlation means their historical movements had little consistent relationship. DEEP charges 0.80%/yr vs 0.85%/yr for DBC.
Performance
DEEP vs. DBC - Performance Comparison
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Returns By Period
In the year-to-date period, DEEP achieves a 23.97% return, which is significantly lower than DBC's 27.37% return. Over the past 10 years, DEEP has underperformed DBC with an annualized return of 8.35%, while DBC has yielded a comparatively higher 8.90% annualized return.
DEEP
- 1D
- 0.11%
- 1M
- 3.18%
- 6M
- 15.25%
- YTD
- 23.97%
- 1Y
- 34.45%
- 3Y*
- 9.87%
- 5Y*
- 6.44%
- 10Y*
- 8.35%
- ALL TIME*
- 7.62%
DBC
- 1D
- 0.60%
- 1M
- 5.48%
- 6M
- 17.73%
- YTD
- 27.37%
- 1Y
- 34.92%
- 3Y*
- 9.99%
- 5Y*
- 11.48%
- 10Y*
- 8.90%
- ALL TIME*
- 1.88%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $29.84M | $30.72M | $31.47M | |
| $80.54K | $60.78K | $48.37K |
DEEP vs. DBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DEEP Roundhill Acquirers Deep Value ETF | 23.97% | 5.69% | -2.97% | 22.37% | -17.71% | 35.66% | -9.96% | 12.54% | -7.17% | 27.19% |
DBC Invesco DB Commodity Index Tracking Fund | 27.37% | 8.10% | 2.18% | -6.19% | 19.34% | 41.36% | -7.84% | 11.84% | -11.63% | 4.86% |
Correlation
The correlation between DEEP and DBC is -0.21, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.21 |
Correlation (3Y) Balances recent behavior with more history. | 0.05 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.16 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.24 |
Correlation (All Time) Calculated using the full available price history since Sep 23, 2014 | 0.28 |
The correlation between DEEP and DBC shifts across timeframes, from -0.21 (1 year) to 0.28 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DEEP vs. DBC — Risk / Return Rank
DEEP
DBC
DEEP vs. DBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Roundhill Acquirers Deep Value ETF (DEEP) and Invesco DB Commodity Index Tracking Fund (DBC). 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.
| DEEP | DBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.30 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.92 | 2.12 | +0.79 |
| Martin ratioReturn relative to average drawdown | 8.78 | 6.91 | +1.87 |
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Drawdowns
DEEP vs. DBC - Drawdown Comparison
The maximum DEEP drawdown since its inception was -52.52%, smaller than the maximum DBC drawdown of -76.36%. Use the drawdown chart below to compare losses from any high point for DEEP and DBC.
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Drawdown Indicators
| DEEP | DBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.52% | -76.36% | +23.84% |
Max Drawdown (1Y)Largest decline over 1 year | -11.87% | -16.54% | +4.67% |
Max Drawdown (3Y)Largest decline over 3 years | -28.40% | -16.54% | -11.86% |
Max Drawdown (5Y)Largest decline over 5 years | -28.40% | -27.34% | -1.06% |
Max Drawdown (10Y)Largest decline over 10 years | -52.52% | -41.71% | -10.81% |
Current DrawdownCurrent decline from peak | 0.00% | -26.32% | +26.32% |
Average DrawdownAverage peak-to-trough decline | -10.26% | -46.06% | +35.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.93% | 5.07% | -1.14% |
Volatility
DEEP vs. DBC - Volatility Comparison
The current volatility for Roundhill Acquirers Deep Value ETF (DEEP) is 5.34%, while Invesco DB Commodity Index Tracking Fund (DBC) has a volatility of 7.61%. This indicates that DEEP experiences smaller price fluctuations and is considered to be less risky than DBC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DEEP | DBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.34% | 7.61% | -2.27% |
Volatility (6M)Calculated over the trailing 6-month period | 12.56% | 16.61% | -4.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.41% | 19.70% | -1.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.54% | 19.33% | +2.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.22% | 17.89% | +6.33% |
DEEP vs. DBC - Expense Ratio Comparison
DEEP has a 0.80% expense ratio, which is lower than DBC's 0.85% expense ratio.
Dividends
DEEP vs. DBC - Dividend Comparison
DEEP's dividend yield for the trailing twelve months is around 1.84%, less than DBC's 2.61% 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% |
DEEP Roundhill Acquirers Deep Value ETF | 1.84% | 1.78% | 1.96% | 1.67% | 1.28% | 1.43% | 4.03% | 3.49% | 1.51% | 2.01% | 3.14% | 3.98% |
Frequently Asked Questions
DEEP and DBC have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBC has higher volatility (7.61%) compared to DEEP (5.34%). In terms of maximum drawdown, DEEP dropped -52.52% vs DBC's -76.36%.
On 10-year performance, DBC leads with 8.90% vs 8.35% for DEEP. On fees, DEEP is cheaper at 0.80% per year. On volatility, DEEP has been the lower-risk option at 5.34%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DBC has performed better with a 8.90% return vs 8.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DEEP is cheaper with a 0.80% expense ratio, compared with 0.85% for DBC.
DBC has the higher dividend yield at 2.61%, compared with 1.84% for DEEP.
DEEP is categorized as Small Cap Value Equities, while DBC is Commodities. DEEP tracks DEEP-US - Acquirers Deep Value Index, while DBC tracks DBIQ Optimum Yield Diversified Commodity Index Excess Return. They also come from different issuers: Exchange Traded Concepts and Invesco. Their fees differ too: 0.80% for DEEP and 0.85% for DBC.
DEEP currently has the higher Sharpe Ratio (1.88 vs 1.78), 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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