DIVI vs. DBC

Last updated Jun 13, 2026

DIVI (Franklin International Core Dividend Tilt Index ETF) and DBC (Invesco DB Commodity Index Tracking Fund) are both exchange-traded funds - DIVI is a Foreign Large Cap Equities fund actively managed by Franklin Templeton, while DBC is a Commodities fund tracking the DBIQ Optimum Yield Diversified Commodity Index Excess Return. DIVI is actively managed, while DBC is passively managed. Over the past 10 years, DIVI returned 11.78%/yr vs 8.27%/yr for DBC. At a 0.21 correlation, their price movements are largely independent. DIVI charges 0.09%/yr vs 0.85%/yr for DBC.

Performance

DIVI vs. DBC - Performance Comparison

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

Returns By Period

In the year-to-date period, DIVI achieves a 11.97% return, which is significantly lower than DBC's 27.68% return. Over the past 10 years, DIVI has outperformed DBC with an annualized return of 11.78%, while DBC has yielded a comparatively lower 8.27% annualized return.

DIVI

• 1D: 0.58%
• 1M: 1.16%
• YTD: 11.97%
• 6M: 13.43%
• 1Y: 25.56%
• 3Y*: 18.03%
• 5Y*: 13.55%
• 10Y*: 11.78%

DBC

• 1D: -1.04%
• 1M: -8.99%
• YTD: 27.68%
• 6M: 28.76%
• 1Y: 34.32%
• 3Y*: 12.92%
• 5Y*: 11.29%
• 10Y*: 8.27%

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

DIVI vs. DBC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DIVI Franklin International Core Dividend Tilt Index ETF	11.97%	34.86%	1.77%	18.97%	-1.21%	16.95%	1.29%	22.98%	-6.73%	13.65%
DBC Invesco DB Commodity Index Tracking Fund	27.68%	8.10%	2.18%	-6.19%	19.34%	41.36%	-7.84%	11.84%	-11.63%	4.86%

Correlation

The correlation between DIVI and DBC is -0.19, 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	-0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.08
Correlation (5Y) Calculated over the trailing 5-year period	0.18
Correlation (10Y) Calculated over the trailing 10-year period	0.21
Correlation (All Time) Calculated using the full available price history since Jun 3, 2016	0.21

The correlation between DIVI and DBC shifts across timeframes, from -0.19 (1 year) to 0.21 (all time), reflecting how their relationship changes across market environments.

DIVI vs. DBC - Sectors Allocation Comparison

Sectors	DIVI	DBC
Financial Services	27.3%	91.5%
Industrials	17.2%	-
Technology	10.2%	-
Healthcare	9.1%	-
Consumer Cyclical	7.1%	-
Consumer Defensive	6.8%	-
Basic Materials	5.6%	-
Communication Services	5.0%	-
Utilities	4.9%	-
Energy	4.4%	-
Real Estate	2.3%	-

Return for Risk

DIVI vs. DBC — Risk / Return Rank

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

DIVI

DIVI Risk / Return Rank: 56
DIVI Sharpe Ratio Rank: 56
DIVI Sortino Ratio Rank: 56
DIVI Omega Ratio Rank: 54
DIVI Calmar Ratio Rank: 56
DIVI Martin Ratio Rank: 59

DBC

DBC Risk / Return Rank: 64
DBC Sharpe Ratio Rank: 63
DBC Sortino Ratio Rank: 59
DBC Omega Ratio Rank: 60
DBC Calmar Ratio Rank: 77
DBC Martin Ratio Rank: 61

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.

DIVI vs. DBC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin International Core Dividend Tilt Index ETF (DIVI) 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.

	DIVI	DBC	Difference
Sharpe ratio: Return per unit of total volatility	1.67	1.82	-0.15
Sortino ratio: Return per unit of downside risk	2.35	2.42	-0.07
Omega ratio: Gain probability vs. loss probability	1.30	1.32	-0.02
Calmar ratio: Return relative to maximum drawdown	2.44	3.48	-1.04
Martin ratio: Return relative to average drawdown	9.36	9.64	-0.29

DIVI vs. DBC - Sharpe Ratio Comparison

The current DIVI Sharpe Ratio is 1.67, which is comparable to the DBC Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of DIVI and DBC, 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

DIVI vs. DBC - Drawdown Comparison

The maximum DIVI drawdown since its inception was -27.76%, smaller than the maximum DBC drawdown of -76.36%. Use the drawdown chart below to compare losses from any high point for DIVI and DBC.

Drawdown Indicators

	DIVI	DBC	Difference
Max Drawdown Largest peak-to-trough decline	-27.76%	-76.36%	+48.60%
Max Drawdown (1Y) Largest decline over 1 year	-10.54%	-9.91%	-0.63%
Max Drawdown (3Y) Largest decline over 3 years	-14.58%	-13.82%	-0.76%
Max Drawdown (5Y) Largest decline over 5 years	-18.53%	-27.34%	+8.81%
Max Drawdown (10Y) Largest decline over 10 years	-27.76%	-41.71%	+13.95%
Current Drawdown Current decline from peak	-0.05%	-26.14%	+26.09%
Average Drawdown Average peak-to-trough decline	-3.62%	-46.19%	+42.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.75%	3.57%	-0.82%

Volatility

DIVI vs. DBC - Volatility Comparison

Franklin International Core Dividend Tilt Index ETF (DIVI) has a higher volatility of 5.63% compared to Invesco DB Commodity Index Tracking Fund (DBC) at 5.20%. This indicates that DIVI's price experiences larger fluctuations and is considered to be riskier than DBC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DIVI	DBC	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.63%	5.20%	+0.43%
Volatility (6M) Calculated over the trailing 6-month period	12.85%	16.11%	-3.26%
Volatility (1Y) Calculated over the trailing 1-year period	15.39%	18.94%	-3.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.40%	19.22%	-3.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.49%	17.82%	-1.33%

DIVI vs. DBC - Expense Ratio Comparison

DIVI has a 0.09% expense ratio, which is lower than DBC's 0.85% expense ratio.

Dividends

DIVI vs. DBC - Dividend Comparison

DIVI's dividend yield for the trailing twelve months is around 3.50%, more than DBC's 2.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
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%
DIVI Franklin International Core Dividend Tilt Index ETF	3.50%	3.76%	4.39%	3.17%	6.03%	2.77%	8.04%	1.61%	5.67%	5.22%	11.56%

Frequently Asked Questions

Can I hold both DIVI and DBC in my portfolio?

DIVI and DBC have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DIVI or DBC?

DIVI has higher volatility (5.63%) compared to DBC (5.20%). In terms of maximum drawdown, DIVI dropped -27.76% vs DBC's -76.36%.

Which ETF is better, DIVI or DBC?

On 10-year performance, DIVI leads with 11.78% vs 8.27% for DBC. On fees, DIVI is cheaper at 0.09% per year. On volatility, DBC has been the lower-risk option at 5.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DIVI or DBC?

Over the 10-year period, DIVI has performed better with a 11.78% return vs 8.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DIVI or DBC?

DIVI is cheaper with a 0.09% expense ratio, compared with 0.85% for DBC.

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

DIVI has the higher dividend yield at 3.50%, compared with 2.61% for DBC.

What is the main difference between DIVI and DBC?

DIVI is categorized as Foreign Large Cap Equities, while DBC is Commodities. They also come from different issuers: Franklin Templeton and Invesco. Their fees differ too: 0.09% for DIVI and 0.85% for DBC.

Which has better risk-adjusted returns?

DBC currently has the higher Sharpe Ratio (1.82 vs 1.67), 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.