GIND vs. DBC
GIND (Goldman Sachs India Equity ETF) and DBC (Invesco DB Commodity Index Tracking Fund) are both exchange-traded funds - GIND is a Asia Pacific Equities fund actively managed by Goldman Sachs, while DBC is a Commodities fund tracking the DBIQ Optimum Yield Diversified Commodity Index Excess Return. GIND is actively managed, while DBC is passively managed. Over the past year, GIND returned -13.74% vs 45.90% for DBC. At a correlation of -0.20, they often move in opposite directions. GIND charges 0.75%/yr vs 0.85%/yr for DBC.
Performance
GIND vs. DBC - Performance Comparison
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Returns By Period
In the year-to-date period, GIND achieves a -12.46% return, which is significantly lower than DBC's 35.47% return.
GIND
- 1D
- -1.57%
- 1M
- -2.39%
- YTD
- -12.46%
- 6M
- -11.52%
- 1Y
- -13.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DBC
- 1D
- 0.56%
- 1M
- -3.32%
- YTD
- 35.47%
- 6M
- 35.36%
- 1Y
- 45.90%
- 3Y*
- 15.09%
- 5Y*
- 12.78%
- 10Y*
- 9.10%
GIND vs. DBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GIND Goldman Sachs India Equity ETF | -12.46% | 4.55% |
DBC Invesco DB Commodity Index Tracking Fund | 35.47% | 6.31% |
Correlation
The correlation between GIND and DBC is -0.25, 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 | -0.25 |
Correlation (All Time) Calculated using the full available price history since Apr 4, 2025 | -0.20 |
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Return for Risk
GIND vs. DBC — Risk / Return Rank
GIND
DBC
GIND vs. DBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs India Equity ETF (GIND) 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.
| GIND | DBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.32 | ||
| Sortino ratioReturn per unit of downside risk | -4.34 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.43 | -0.56 |
| Calmar ratioReturn relative to maximum drawdown | -0.60 | 6.54 | -7.14 |
| Martin ratioReturn relative to average drawdown | -1.45 | 13.91 | -15.36 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| GIND | DBC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.85 | 2.47 | -3.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.67 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.51 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.43 | 0.12 | -0.55 |
Drawdowns
GIND vs. DBC - Drawdown Comparison
The maximum GIND drawdown since its inception was -22.97%, smaller than the maximum DBC drawdown of -76.36%. Use the drawdown chart below to compare losses from any high point for GIND and DBC.
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Drawdown Indicators
| GIND | DBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.97% | -76.36% | +53.39% |
Max Drawdown (1Y)Largest decline over 1 year | -22.97% | -7.05% | -15.92% |
Max Drawdown (3Y)Largest decline over 3 years | — | -13.82% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -27.34% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.71% | — |
Current DrawdownCurrent decline from peak | -17.00% | -21.64% | +4.64% |
Average DrawdownAverage peak-to-trough decline | -6.85% | -46.22% | +39.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.52% | 3.31% | +6.21% |
Volatility
GIND vs. DBC - Volatility Comparison
The current volatility for Goldman Sachs India Equity ETF (GIND) is 5.81%, while Invesco DB Commodity Index Tracking Fund (DBC) has a volatility of 6.45%. This indicates that GIND 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
| GIND | DBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.81% | 6.45% | -0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 14.04% | 15.75% | -1.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.24% | 18.68% | -2.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.14% | 19.18% | -2.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.14% | 17.81% | -0.67% |
GIND vs. DBC - Expense Ratio Comparison
GIND has a 0.75% expense ratio, which is lower than DBC's 0.85% expense ratio.
Dividends
GIND vs. DBC - Dividend Comparison
GIND has not paid dividends to shareholders, while DBC's dividend yield for the trailing twelve months is around 2.46%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBC Invesco DB Commodity Index Tracking Fund | 2.46% | 3.33% | 5.22% | 4.94% | 0.59% | 0.00% | 0.00% | 1.59% | 1.30% |
GIND Goldman Sachs India Equity ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GIND and DBC have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBC has higher volatility (6.45%) compared to GIND (5.81%). In terms of maximum drawdown, GIND dropped -22.97% vs DBC's -76.36%.
On 1-year performance, DBC leads with 45.90% vs -13.74% for GIND. On fees, GIND is cheaper at 0.75% per year. On volatility, GIND has been the lower-risk option at 5.81%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DBC has performed better with a 45.90% return vs -13.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GIND is cheaper with a 0.75% expense ratio, compared with 0.85% for DBC.
DBC has the higher dividend yield at 2.46%, compared with 0.00% for GIND.
GIND is categorized as Asia Pacific Equities, while DBC is Commodities. They also come from different issuers: Goldman Sachs and Invesco. Their fees differ too: 0.75% for GIND and 0.85% for DBC.
DBC currently has the higher Sharpe Ratio (2.47 vs -0.85), 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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