GCC vs. DBC

Last updated Jun 23, 2026

GCC (WisdomTree Enhanced Commodity Strategy Fund) and DBC (Invesco DB Commodity Index Tracking Fund) are both Commodities funds. GCC is actively managed, while DBC is passively managed. Over the past 10 years, GCC returned 6.00%/yr vs 8.01%/yr for DBC. Their correlation of 0.80 suggests significant overlap in exposure. GCC charges 0.55%/yr vs 0.85%/yr for DBC.

Performance

GCC vs. DBC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Enhanced Commodity Strategy Fund (GCC) 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, GCC achieves a 9.55% return, which is significantly lower than DBC's 22.58% return. Over the past 10 years, GCC has underperformed DBC with an annualized return of 6.00%, while DBC has yielded a comparatively higher 8.01% annualized return.

GCC

• 1D: -0.34%
• 1M: -8.49%
• YTD: 9.55%
• 6M: 9.43%
• 1Y: 22.24%
• 3Y*: 15.39%
• 5Y*: 10.56%
• 10Y*: 6.00%

DBC

• 1D: -0.80%
• 1M: -10.25%
• YTD: 22.58%
• 6M: 22.42%
• 1Y: 21.81%
• 3Y*: 10.98%
• 5Y*: 10.64%
• 10Y*: 8.01%

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

GCC vs. DBC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GCC WisdomTree Enhanced Commodity Strategy Fund	9.55%	20.01%	15.13%	-3.72%	7.74%	19.96%	1.38%	7.07%	-8.69%	-0.57%
DBC Invesco DB Commodity Index Tracking Fund	22.58%	8.10%	2.18%	-6.19%	19.34%	41.36%	-7.84%	11.84%	-11.63%	4.86%

Correlation

The correlation between GCC and DBC is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since Jan 24, 2008	0.80

The correlation between GCC and DBC has been stable across timeframes, ranging from 0.76 to 0.86 - a consistent structural relationship.

Return for Risk

GCC vs. DBC — Risk / Return Rank

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

GCC

GCC Risk / Return Rank: 37
GCC Sharpe Ratio Rank: 38
GCC Sortino Ratio Rank: 33
GCC Omega Ratio Rank: 38
GCC Calmar Ratio Rank: 36
GCC Martin Ratio Rank: 41

DBC

DBC Risk / Return Rank: 34
DBC Sharpe Ratio Rank: 33
DBC Sortino Ratio Rank: 31
DBC Omega Ratio Rank: 32
DBC Calmar Ratio Rank: 33
DBC Martin Ratio Rank: 43

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.

GCC vs. DBC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Enhanced Commodity Strategy Fund (GCC) 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.

	GCC	DBC	Difference
Sharpe ratio: Return per unit of total volatility	1.31	1.17	+0.14
Sortino ratio: Return per unit of downside risk	1.70	1.64	+0.06
Omega ratio: Gain probability vs. loss probability	1.25	1.21	+0.04
Calmar ratio: Return relative to maximum drawdown	1.78	1.62	+0.16
Martin ratio: Return relative to average drawdown	6.32	6.82	-0.49

GCC vs. DBC - Sharpe Ratio Comparison

The current GCC Sharpe Ratio is 1.31, which is comparable to the DBC Sharpe Ratio of 1.17. The chart below compares the historical Sharpe Ratios of GCC 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

GCC vs. DBC - Drawdown Comparison

The maximum GCC drawdown since its inception was -63.19%, smaller than the maximum DBC drawdown of -76.36%. Use the drawdown chart below to compare losses from any high point for GCC and DBC.

Drawdown Indicators

	GCC	DBC	Difference
Max Drawdown Largest peak-to-trough decline	-63.19%	-76.36%	+13.17%
Max Drawdown (1Y) Largest decline over 1 year	-12.53%	-13.51%	+0.98%
Max Drawdown (3Y) Largest decline over 3 years	-12.53%	-13.82%	+1.29%
Max Drawdown (5Y) Largest decline over 5 years	-27.07%	-27.34%	+0.27%
Max Drawdown (10Y) Largest decline over 10 years	-32.67%	-41.71%	+9.04%
Current Drawdown Current decline from peak	-12.53%	-29.09%	+16.56%
Average Drawdown Average peak-to-trough decline	-34.84%	-46.17%	+11.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.54%	3.97%	-0.43%

Volatility

GCC vs. DBC - Volatility Comparison

The current volatility for WisdomTree Enhanced Commodity Strategy Fund (GCC) is 3.98%, while Invesco DB Commodity Index Tracking Fund (DBC) has a volatility of 4.60%. This indicates that GCC 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

	GCC	DBC	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.98%	4.60%	-0.62%
Volatility (6M) Calculated over the trailing 6-month period	15.21%	16.16%	-0.95%
Volatility (1Y) Calculated over the trailing 1-year period	17.08%	18.75%	-1.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.92%	19.20%	-2.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.79%	17.81%	-3.02%

GCC vs. DBC - Expense Ratio Comparison

GCC has a 0.55% expense ratio, which is lower than DBC's 0.85% expense ratio.

Dividends

GCC vs. DBC - Dividend Comparison

GCC's dividend yield for the trailing twelve months is around 6.06%, more than DBC's 2.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DBC Invesco DB Commodity Index Tracking Fund	2.72%	3.33%	5.22%	4.94%	0.59%	0.00%	0.00%	1.59%	1.30%
GCC WisdomTree Enhanced Commodity Strategy Fund	6.06%	6.64%	3.51%	3.68%	22.49%	9.76%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GCC and DBC in my portfolio?

GCC and DBC have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GCC or DBC?

DBC has higher volatility (4.60%) compared to GCC (3.98%). In terms of maximum drawdown, GCC dropped -63.19% vs DBC's -76.36%.

Which ETF is better, GCC or DBC?

On 10-year performance, DBC leads with 8.01% vs 6.00% for GCC. On fees, GCC is cheaper at 0.55% per year. On volatility, GCC has been the lower-risk option at 3.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GCC or DBC?

Over the 10-year period, DBC has performed better with a 8.01% return vs 6.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GCC or DBC?

GCC is cheaper with a 0.55% expense ratio, compared with 0.85% for DBC.

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

GCC has the higher dividend yield at 6.06%, compared with 2.72% for DBC.

What is the main difference between GCC and DBC?

They also come from different issuers: WisdomTree and Invesco. Their fees differ too: 0.55% for GCC and 0.85% for DBC.

Which has better risk-adjusted returns?

GCC currently has the higher Sharpe Ratio (1.31 vs 1.17), 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.