FALN vs. DBA
FALN (iShares Fallen Angels USD Bond ETF) and DBA (Invesco DB Agriculture Fund) are both exchange-traded funds - FALN is a High Yield Bonds fund tracking the Bloomberg US High Yield Fallen Angel 3% Capped Index, while DBA is a Agricultural Commodities fund tracking the DBIQ Diversified Agriculture Index Excess Return. Both are passively managed. Over the past 10 years, FALN returned 6.60%/yr vs 3.67%/yr for DBA. At a 0.12 correlation, their price movements are largely independent. FALN charges 0.25%/yr vs 0.88%/yr for DBA.
Performance
FALN vs. DBA - Performance Comparison
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Returns By Period
In the year-to-date period, FALN achieves a 2.24% return, which is significantly lower than DBA's 4.43% return. Over the past 10 years, FALN has outperformed DBA with an annualized return of 6.60%, while DBA has yielded a comparatively lower 3.67% annualized return.
FALN
- 1D
- -0.11%
- 1M
- 1.07%
- YTD
- 2.24%
- 6M
- 2.46%
- 1Y
- 7.88%
- 3Y*
- 9.39%
- 5Y*
- 3.76%
- 10Y*
- 6.60%
DBA
- 1D
- 0.08%
- 1M
- -3.30%
- YTD
- 4.43%
- 6M
- 4.76%
- 1Y
- 4.55%
- 3Y*
- 11.76%
- 5Y*
- 11.03%
- 10Y*
- 3.67%
FALN vs. DBA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FALN iShares Fallen Angels USD Bond ETF | 2.24% | 8.92% | 7.68% | 13.47% | -13.79% | 5.40% | 14.85% | 17.42% | -4.97% | 8.70% |
DBA Invesco DB Agriculture Fund | 4.43% | -0.56% | 33.45% | 7.64% | 2.53% | 22.37% | -2.54% | -0.71% | -8.74% | -6.06% |
Correlation
The correlation between FALN and DBA is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Jun 17, 2016 | 0.12 |
The correlation between FALN and DBA shifts across timeframes, from 0.01 (1 year) to 0.12 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
FALN vs. DBA — Risk / Return Rank
FALN
DBA
FALN vs. DBA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Fallen Angels USD Bond ETF (FALN) and Invesco DB Agriculture Fund (DBA). 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.
| FALN | DBA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.29 | ||
| Sortino ratioReturn per unit of downside risk | +1.82 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.08 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 2.00 | 0.53 | +1.47 |
| Martin ratioReturn relative to average drawdown | 8.32 | 1.15 | +7.17 |
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Drawdowns
FALN vs. DBA - Drawdown Comparison
The maximum FALN drawdown since its inception was -29.22%, smaller than the maximum DBA drawdown of -67.97%. Use the drawdown chart below to compare losses from any high point for FALN and DBA.
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Drawdown Indicators
| FALN | DBA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.22% | -67.97% | +38.75% |
Max Drawdown (1Y)Largest decline over 1 year | -3.96% | -8.67% | +4.71% |
Max Drawdown (3Y)Largest decline over 3 years | -5.92% | -12.36% | +6.44% |
Max Drawdown (5Y)Largest decline over 5 years | -18.78% | -15.94% | -2.84% |
Max Drawdown (10Y)Largest decline over 10 years | -29.22% | -39.12% | +9.90% |
Current DrawdownCurrent decline from peak | -0.11% | -26.48% | +26.37% |
Average DrawdownAverage peak-to-trough decline | -3.31% | -41.06% | +37.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 3.96% | -3.01% |
Volatility
FALN vs. DBA - Volatility Comparison
The current volatility for iShares Fallen Angels USD Bond ETF (FALN) is 1.18%, while Invesco DB Agriculture Fund (DBA) has a volatility of 2.85%. This indicates that FALN experiences smaller price fluctuations and is considered to be less risky than DBA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FALN | DBA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.18% | 2.85% | -1.67% |
Volatility (6M)Calculated over the trailing 6-month period | 3.73% | 6.65% | -2.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.60% | 10.60% | -6.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.33% | 13.93% | -6.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.94% | 13.06% | -4.12% |
FALN vs. DBA - Expense Ratio Comparison
FALN has a 0.25% expense ratio, which is lower than DBA's 0.88% expense ratio.
Dividends
FALN vs. DBA - Dividend Comparison
FALN's dividend yield for the trailing twelve months is around 6.42%, more than DBA's 3.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
DBA Invesco DB Agriculture Fund | 3.42% | 3.58% | 4.08% | 4.63% | 0.48% | 0.00% | 0.00% | 1.55% | 1.06% | 0.00% | 0.00% |
FALN iShares Fallen Angels USD Bond ETF | 6.42% | 6.31% | 6.24% | 5.37% | 5.08% | 3.40% | 5.14% | 5.35% | 5.97% | 6.98% | 3.55% |
Frequently Asked Questions
FALN and DBA have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBA has higher volatility (2.85%) compared to FALN (1.18%). In terms of maximum drawdown, FALN dropped -29.22% vs DBA's -67.97%.
On 10-year performance, FALN leads with 6.60% vs 3.67% for DBA. On fees, FALN is cheaper at 0.25% per year. On volatility, FALN has been the lower-risk option at 1.18%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FALN has performed better with a 6.60% return vs 3.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FALN is cheaper with a 0.25% expense ratio, compared with 0.88% for DBA.
FALN has the higher dividend yield at 6.42%, compared with 3.42% for DBA.
FALN is categorized as High Yield Bonds, while DBA is Agricultural Commodities. FALN tracks Bloomberg US High Yield Fallen Angel 3% Capped Index, while DBA tracks DBIQ Diversified Agriculture Index Excess Return. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.25% for FALN and 0.88% for DBA.
FALN currently has the higher Sharpe Ratio (1.72 vs 0.43), 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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