DIVO vs. DBC

Last updated Jun 13, 2026

DIVO (Amplify CWP Enhanced Dividend Income ETF) and DBC (Invesco DB Commodity Index Tracking Fund) are both exchange-traded funds - DIVO is a Derivative Income fund actively managed by Amplify, while DBC is a Commodities fund tracking the DBIQ Optimum Yield Diversified Commodity Index Excess Return. DIVO is actively managed, while DBC is passively managed. Over the past 5 years, DIVO returned 10.91%/yr vs 11.29%/yr for DBC. At a 0.27 correlation, their price movements are largely independent. DIVO charges 0.56%/yr vs 0.85%/yr for DBC.

Performance

DIVO vs. DBC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify CWP Enhanced Dividend Income ETF (DIVO) 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, DIVO achieves a 6.43% return, which is significantly lower than DBC's 27.68% return.

DIVO

• 1D: 0.72%
• 1M: 2.59%
• YTD: 6.43%
• 6M: 5.62%
• 1Y: 18.49%
• 3Y*: 15.47%
• 5Y*: 10.91%
• 10Y*: —

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)

DIVO vs. DBC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DIVO Amplify CWP Enhanced Dividend Income ETF	6.43%	17.40%	16.22%	6.95%	-1.46%	22.87%	12.40%	24.90%	-3.18%	21.41%
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 DIVO and DBC is -0.12, 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	-0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.08
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (All Time) Calculated using the full available price history since Dec 14, 2016	0.27

The correlation between DIVO and DBC shifts across timeframes, from -0.12 (1 year) to 0.27 (all time), reflecting how their relationship changes across market environments.

DIVO vs. DBC - Sectors Allocation Comparison

Sectors	DIVO	DBC
Financial Services	29.6%	91.5%
Industrials	16.0%	-
Technology	15.6%	-
Consumer Cyclical	11.5%	-
Consumer Defensive	6.9%	-
Energy	6.7%	-
Healthcare	6.6%	-
Basic Materials	4.2%	-
Utilities	1.9%	-
Communication Services	1.0%	-
Real Estate	-	-

Return for Risk

DIVO vs. DBC — Risk / Return Rank

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

DIVO

DIVO Risk / Return Rank: 72
DIVO Sharpe Ratio Rank: 72
DIVO Sortino Ratio Rank: 78
DIVO Omega Ratio Rank: 69
DIVO Calmar Ratio Rank: 71
DIVO Martin Ratio Rank: 70

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.

DIVO vs. DBC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify CWP Enhanced Dividend Income ETF (DIVO) 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.

	DIVO	DBC	Difference
Sharpe ratio: Return per unit of total volatility	2.02	1.82	+0.20
Sortino ratio: Return per unit of downside risk	2.99	2.42	+0.57
Omega ratio: Gain probability vs. loss probability	1.35	1.32	+0.03
Calmar ratio: Return relative to maximum drawdown	3.12	3.48	-0.36
Martin ratio: Return relative to average drawdown	11.23	9.64	+1.59

DIVO vs. DBC - Sharpe Ratio Comparison

The current DIVO Sharpe Ratio is 2.02, which is comparable to the DBC Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of DIVO 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

DIVO vs. DBC - Drawdown Comparison

The maximum DIVO drawdown since its inception was -30.04%, smaller than the maximum DBC drawdown of -76.36%. Use the drawdown chart below to compare losses from any high point for DIVO and DBC.

Drawdown Indicators

	DIVO	DBC	Difference
Max Drawdown Largest peak-to-trough decline	-30.04%	-76.36%	+46.32%
Max Drawdown (1Y) Largest decline over 1 year	-5.95%	-9.91%	+3.96%
Max Drawdown (3Y) Largest decline over 3 years	-12.12%	-13.82%	+1.70%
Max Drawdown (5Y) Largest decline over 5 years	-13.72%	-27.34%	+13.62%
Max Drawdown (10Y) Largest decline over 10 years	—	-41.71%	—
Current Drawdown Current decline from peak	-0.19%	-26.14%	+25.95%
Average Drawdown Average peak-to-trough decline	-2.61%	-46.19%	+43.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.65%	3.57%	-1.92%

Volatility

DIVO vs. DBC - Volatility Comparison

The current volatility for Amplify CWP Enhanced Dividend Income ETF (DIVO) is 2.71%, while Invesco DB Commodity Index Tracking Fund (DBC) has a volatility of 5.20%. This indicates that DIVO 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.

Volatility by Period

	DIVO	DBC	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.71%	5.20%	-2.49%
Volatility (6M) Calculated over the trailing 6-month period	7.13%	16.11%	-8.98%
Volatility (1Y) Calculated over the trailing 1-year period	9.20%	18.94%	-9.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.97%	19.22%	-7.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.83%	17.82%	-2.99%

DIVO vs. DBC - Expense Ratio Comparison

DIVO has a 0.56% expense ratio, which is lower than DBC's 0.85% expense ratio.

Dividends

DIVO vs. DBC - Dividend Comparison

DIVO's dividend yield for the trailing twelve months is around 6.36%, more than DBC's 2.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
DIVO Amplify CWP Enhanced Dividend Income ETF	6.36%	6.44%	4.70%	4.67%	4.76%	4.79%	4.91%	8.16%	5.27%	3.83%

Frequently Asked Questions

Can I hold both DIVO and DBC in my portfolio?

DIVO and DBC have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DIVO or DBC?

DBC has higher volatility (5.20%) compared to DIVO (2.71%). In terms of maximum drawdown, DIVO dropped -30.04% vs DBC's -76.36%.

Which ETF is better, DIVO or DBC?

On 5-year performance, DBC leads with 11.29% vs 10.91% for DIVO. On fees, DIVO is cheaper at 0.56% per year. On volatility, DIVO has been the lower-risk option at 2.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DIVO or DBC?

Over the 5-year period, DBC has performed better with a 11.29% return vs 10.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DIVO or DBC?

DIVO is cheaper with a 0.56% expense ratio, compared with 0.85% for DBC.

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

DIVO has the higher dividend yield at 6.36%, compared with 2.61% for DBC.

What is the main difference between DIVO and DBC?

DIVO is categorized as Derivative Income, while DBC is Commodities. They also come from different issuers: Amplify and Invesco. Their fees differ too: 0.56% for DIVO and 0.85% for DBC.

Which has better risk-adjusted returns?

DIVO currently has the higher Sharpe Ratio (2.02 vs 1.82), 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.