DIVI vs. DBC
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 tracking the Morningstar Developed Markets ex-North America Dividend Enhanced Select 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, DIVI returned 11.41%/yr vs 7.98%/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
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Returns By Period
In the year-to-date period, DIVI achieves a 12.31% return, which is significantly lower than DBC's 23.08% return. Over the past 10 years, DIVI has outperformed DBC with an annualized return of 11.41%, while DBC has yielded a comparatively lower 7.98% annualized return.
DIVI
- 1D
- 0.49%
- 1M
- 0.88%
- 6M
- 9.30%
- YTD
- 12.31%
- 1Y
- 25.72%
- 3Y*
- 18.41%
- 5Y*
- 13.53%
- 10Y*
- 11.41%
DBC
- 1D
- -0.22%
- 1M
- -4.61%
- 6M
- 20.17%
- YTD
- 23.08%
- 1Y
- 26.37%
- 3Y*
- 10.50%
- 5Y*
- 10.59%
- 10Y*
- 7.98%
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 | 12.31% | 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 | 23.08% | 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 -0.13, 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 | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
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 -0.13 (1 year) to 0.21 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DIVI vs. DBC — Risk / Return Rank
DIVI
DBC
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 ratioReturn per unit of total volatility | +0.10 | ||
| Sortino ratioReturn per unit of downside risk | +0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.26 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.35 | 1.70 | +0.65 |
| Martin ratioReturn relative to average drawdown | 9.00 | 6.03 | +2.97 |
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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.
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Drawdown Indicators
| DIVI | DBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.76% | -76.36% | +48.60% |
Max Drawdown (1Y)Largest decline over 1 year | -10.54% | -16.54% | +6.00% |
Max Drawdown (3Y)Largest decline over 3 years | -14.58% | -16.54% | +1.96% |
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 DrawdownCurrent decline from peak | -0.76% | -28.80% | +28.04% |
Average DrawdownAverage peak-to-trough decline | -3.61% | -46.13% | +42.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.75% | 4.66% | -1.91% |
Volatility
DIVI vs. DBC - Volatility Comparison
The current volatility for Franklin International Core Dividend Tilt Index ETF (DIVI) is 4.83%, while Invesco DB Commodity Index Tracking Fund (DBC) has a volatility of 5.21%. This indicates that DIVI 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
| DIVI | DBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.83% | 5.21% | -0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 13.07% | 16.48% | -3.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.34% | 18.63% | -3.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.43% | 19.23% | -3.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.34% | 17.78% | -1.44% |
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 3.60%, more than DBC's 2.70% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
DBC Invesco DB Commodity Index Tracking Fund | 2.70% | 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 | 3.60% | 3.76% | 4.39% | 3.17% | 6.03% | 2.77% | 8.04% | 1.61% | 5.67% | 5.22% | 11.56% |
Frequently Asked Questions
DIVI and DBC have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBC has higher volatility (5.21%) compared to DIVI (4.83%). In terms of maximum drawdown, DIVI dropped -27.76% vs DBC's -76.36%.
On 10-year performance, DIVI leads with 11.41% vs 7.98% for DBC. On fees, DIVI is cheaper at 0.09% per year. On volatility, DIVI has been the lower-risk option at 4.83%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DIVI has performed better with a 11.41% return vs 7.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DIVI is cheaper with a 0.09% expense ratio, compared with 0.85% for DBC.
DIVI has the higher dividend yield at 3.60%, compared with 2.70% for DBC.
DIVI is categorized as Foreign Large Cap Equities, while DBC is Commodities. DIVI tracks Morningstar Developed Markets ex-North America Dividend Enhanced Select Index, while DBC tracks DBIQ Optimum Yield Diversified Commodity Index Excess Return. They also come from different issuers: Franklin Templeton and Invesco. Their fees differ too: 0.09% for DIVI and 0.85% for DBC.
DIVI currently has the higher Sharpe Ratio (1.61 vs 1.51), 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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