HGER vs. DBC
HGER (Harbor Commodity All-Weather Strategy ETF) and DBC (Invesco DB Commodity Index Tracking Fund) are both Commodities funds - HGER tracks the Quantix Commodity Index - Benchmark TR Net while DBC tracks the DBIQ Optimum Yield Diversified Commodity Index Excess Return. Both are passively managed. Over the past 3 years, HGER returned 18.61%/yr vs 11.07%/yr for DBC. Their correlation of 0.88 means they have usually moved in the same direction. HGER charges 0.68%/yr vs 0.85%/yr for DBC.
Performance
HGER vs. DBC - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, HGER achieves a 29.53% return, which is significantly lower than DBC's 31.71% return.
HGER
- 1D
- 0.00%
- 1M
- 8.43%
- 6M
- 20.19%
- YTD
- 29.53%
- 1Y
- 41.17%
- 3Y*
- 18.61%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 15.44%
DBC
- 1D
- 0.44%
- 1M
- 10.84%
- 6M
- 20.55%
- YTD
- 31.71%
- 1Y
- 37.81%
- 3Y*
- 11.07%
- 5Y*
- 11.66%
- 10Y*
- 9.54%
- ALL TIME*
- 2.04%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $27.92M | $29.19M | $34.33M | |
| $46.51M | $66.72M | $45.77M |
HGER vs. DBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
HGER Harbor Commodity All-Weather Strategy ETF | 29.53% | 20.08% | 9.25% | 1.93% | 9.66% |
DBC Invesco DB Commodity Index Tracking Fund | 31.71% | 8.10% | 2.18% | -6.19% | 8.24% |
Correlation
The correlation between HGER and DBC is 0.85, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.85 |
Correlation (3Y) Balances recent behavior with more history. | 0.86 |
Correlation (All Time) Calculated using the full available price history since Feb 10, 2022 | 0.88 |
The correlation between HGER and DBC has been stable across timeframes, ranging from 0.85 to 0.88 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
HGER vs. DBC — Risk / Return Rank
HGER
DBC
HGER vs. DBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Harbor Commodity All-Weather Strategy ETF (HGER) 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.
| HGER | DBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.45 | ||
| Sortino ratioReturn per unit of downside risk | +0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.31 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.87 | 2.16 | +0.71 |
| Martin ratioReturn relative to average drawdown | 10.23 | 7.20 | +3.04 |
Loading charts...
Drawdowns
HGER vs. DBC - Drawdown Comparison
The maximum HGER drawdown since its inception was -23.31%, smaller than the maximum DBC drawdown of -76.36%. Use the drawdown chart below to compare losses from any high point for HGER and DBC.
Loading charts...
Drawdown Indicators
| HGER | DBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.31% | -76.36% | +53.05% |
Max Drawdown (1Y)Largest decline over 1 year | -14.04% | -16.54% | +2.50% |
Max Drawdown (3Y)Largest decline over 3 years | -14.04% | -16.54% | +2.50% |
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 | -3.94% | -23.81% | +19.87% |
Average DrawdownAverage peak-to-trough decline | -7.66% | -46.07% | +38.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.94% | 5.00% | -1.06% |
Volatility
HGER vs. DBC - Volatility Comparison
The current volatility for Harbor Commodity All-Weather Strategy ETF (HGER) is 5.64%, while Invesco DB Commodity Index Tracking Fund (DBC) has a volatility of 7.01%. This indicates that HGER 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.
Loading charts...
Volatility by Period
| HGER | DBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.64% | 7.01% | -1.37% |
Volatility (6M)Calculated over the trailing 6-month period | 15.43% | 17.35% | -1.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.71% | 19.58% | -1.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.67% | 19.31% | -1.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.67% | 17.87% | -0.20% |
HGER vs. DBC - Expense Ratio Comparison
HGER has a 0.68% expense ratio, which is lower than DBC's 0.85% expense ratio.
Dividends
HGER vs. DBC - Dividend Comparison
HGER's dividend yield for the trailing twelve months is around 5.47%, more than DBC's 2.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBC Invesco DB Commodity Index Tracking Fund | 2.53% | 3.33% | 5.22% | 4.94% | 0.59% | 0.00% | 0.00% | 1.59% | 1.30% |
HGER Harbor Commodity All-Weather Strategy ETF | 5.47% | 7.09% | 3.28% | 7.24% | 0.64% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
HGER and DBC have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBC has higher volatility (7.01%) compared to HGER (5.64%). In terms of maximum drawdown, HGER dropped -23.31% vs DBC's -76.36%.
On 3-year performance, HGER leads with 18.61% vs 11.07% for DBC. On fees, HGER is cheaper at 0.68% per year. On volatility, HGER has been the lower-risk option at 5.64%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, HGER has performed better with a 18.61% return vs 11.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
HGER is cheaper with a 0.68% expense ratio, compared with 0.85% for DBC.
HGER has the higher dividend yield at 5.47%, compared with 2.53% for DBC.
HGER tracks Quantix Commodity Index - Benchmark TR Net, while DBC tracks DBIQ Optimum Yield Diversified Commodity Index Excess Return. They also come from different issuers: Harbor and Invesco. Their fees differ too: 0.68% for HGER and 0.85% for DBC.
HGER currently has the higher Sharpe Ratio (2.28 vs 1.83), 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.
Find the right allocation for HGER and DBC
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer