IEAA.L vs. DBC

Last updated Apr 2, 2026

Compare and contrast key facts about iShares Core Euro Corporate Bond UCITS ETF (Acc) (IEAA.L) and Invesco DB Commodity Index Tracking Fund (DBC).

IEAA.L and DBC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IEAA.L is a passively managed fund by iShares that tracks the performance of the Bloomberg Euro Corp TR EUR. It was launched on Sep 21, 2017. DBC is a passively managed fund by Invesco that tracks the performance of the DBIQ Optimum Yield Diversified Commodity Index Excess Return. It was launched on Feb 3, 2006. Both IEAA.L and DBC are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

IEAA.L vs. DBC - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares Core Euro Corporate Bond UCITS ETF (Acc) (IEAA.L) and Invesco DB Commodity Index Tracking Fund (DBC). The values are adjusted to include any dividend payments, if applicable.

IEAA.L vs. DBC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IEAA.L iShares Core Euro Corporate Bond UCITS ETF (Acc)	-0.60%	3.10%	4.31%	7.51%	-13.40%	-1.11%	2.70%	6.24%	-1.48%	0.45%
DBC Invesco DB Commodity Index Tracking Fund	30.24%	-4.72%	8.93%	-9.01%	26.73%	51.93%	-15.43%	14.37%	-7.48%	4.55%

Different Trading Currencies

IEAA.L is traded in EUR, while DBC is traded in USD. To make them comparable, the DBC values have been converted to EUR using the latest available exchange rates.

Returns By Period

In the year-to-date period, IEAA.L achieves a -0.60% return, which is significantly lower than DBC's 30.24% return.

IEAA.L

• 1D: 0.47%
• 1M: -1.49%
• YTD: -0.60%
• 6M: -0.28%
• 1Y: 2.31%
• 3Y*: 4.30%
• 5Y*: -0.22%
• 10Y*: —

DBC

• 1D: -1.04%
• 1M: 12.29%
• YTD: 30.24%
• 6M: 33.69%
• 1Y: 22.88%
• 3Y*: 8.96%
• 5Y*: 14.72%
• 10Y*: 9.85%

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

IEAA.L vs. DBC - Expense Ratio Comparison

IEAA.L has a 0.20% expense ratio, which is lower than DBC's 0.85% expense ratio.

DBC

Invesco DB Commodity Index Tracking Fund

IEAA.L

iShares Core Euro Corporate Bond UCITS ETF (Acc)

Return for Risk

IEAA.L vs. DBC — Risk / Return Rank

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

IEAA.L

IEAA.L Risk / Return Rank: 38
IEAA.L Sharpe Ratio Rank: 42
IEAA.L Sortino Ratio Rank: 38
IEAA.L Omega Ratio Rank: 37
IEAA.L Calmar Ratio Rank: 33
IEAA.L Martin Ratio Rank: 40

DBC

DBC Risk / Return Rank: 81
DBC Sharpe Ratio Rank: 84
DBC Sortino Ratio Rank: 84
DBC Omega Ratio Rank: 78
DBC Calmar Ratio Rank: 88
DBC Martin Ratio Rank: 70

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.

IEAA.L vs. DBC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core Euro Corporate Bond UCITS ETF (Acc) (IEAA.L) 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.

	IEAA.L	DBC	Difference
Sharpe ratio Return per unit of total volatility	0.83	1.10	-0.27
Sortino ratio Return per unit of downside risk	1.16	1.56	-0.40
Omega ratio Gain probability vs. loss probability	1.16	1.21	-0.05
Calmar ratio Return relative to maximum drawdown	0.90	1.76	-0.86
Martin ratio Return relative to average drawdown	4.07	3.06	+1.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IEAA.L vs. DBC - Sharpe Ratio Comparison

The current IEAA.L Sharpe Ratio is 0.83, which is comparable to the DBC Sharpe Ratio of 1.10. The chart below compares the historical Sharpe Ratios of IEAA.L and DBC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	IEAA.L	DBC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.83	1.10	-0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.05	0.75	-0.80
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.54	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.15	0.13	+0.02

Correlation

The correlation between IEAA.L and DBC is 0.01, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

IEAA.L vs. DBC - Dividend Comparison

IEAA.L has not paid dividends to shareholders, while DBC's dividend yield for the trailing twelve months is around 2.59%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
IEAA.L iShares Core Euro Corporate Bond UCITS ETF (Acc)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DBC Invesco DB Commodity Index Tracking Fund	2.59%	3.33%	5.22%	4.94%	0.59%	0.00%	0.00%	1.59%	1.30%

Drawdowns

IEAA.L vs. DBC - Drawdown Comparison

The maximum IEAA.L drawdown since its inception was -17.29%, smaller than the maximum DBC drawdown of -65.73%. Use the drawdown chart below to compare losses from any high point for IEAA.L and DBC.

Drawdown Indicators

	IEAA.L	DBC	Difference
Max Drawdown Largest peak-to-trough decline	-17.29%	-76.36%	+59.07%
Max Drawdown (1Y) Largest decline over 1 year	-2.73%	-10.99%	+8.26%
Max Drawdown (5Y) Largest decline over 5 years	-17.29%	-27.34%	+10.05%
Max Drawdown (10Y) Largest decline over 10 years	—	-41.71%	—
Current Drawdown Current decline from peak	-2.20%	-25.80%	+23.60%
Average Drawdown Average peak-to-trough decline	-4.62%	-46.42%	+41.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.61%	4.27%	-3.66%

Volatility

IEAA.L vs. DBC - Volatility Comparison

The current volatility for iShares Core Euro Corporate Bond UCITS ETF (Acc) (IEAA.L) is 1.67%, while Invesco DB Commodity Index Tracking Fund (DBC) has a volatility of 9.52%. This indicates that IEAA.L 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

	IEAA.L	DBC	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.67%	9.52%	-7.85%
Volatility (6M) Calculated over the trailing 6-month period	2.06%	14.71%	-12.65%
Volatility (1Y) Calculated over the trailing 1-year period	2.79%	20.96%	-18.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.39%	19.68%	-15.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.67%	18.41%	-13.74%