KKR vs. DBC
KKR (KKR & Co. Inc.) is a stock, while DBC (Invesco DB Commodity Index Tracking Fund) is Commodities fund tracking the DBIQ Optimum Yield Diversified Commodity Index Excess Return. Over the past 10 years, KKR returned 25.02%/yr vs 8.60%/yr for DBC. At a 0.24 correlation, their price movements are largely independent.
Performance
KKR vs. DBC - Performance Comparison
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Returns By Period
In the year-to-date period, KKR achieves a -20.27% return, which is significantly lower than DBC's 28.76% return. Over the past 10 years, KKR has outperformed DBC with an annualized return of 25.02%, while DBC has yielded a comparatively lower 8.60% annualized return.
KKR
- 1D
- 3.85%
- 1M
- 2.93%
- 6M
- -23.05%
- YTD
- -20.27%
- 1Y
- -25.71%
- 3Y*
- 19.52%
- 5Y*
- 12.64%
- 10Y*
- 25.02%
DBC
- 1D
- 0.56%
- 1M
- 2.02%
- 6M
- 23.09%
- YTD
- 28.76%
- 1Y
- 33.57%
- 3Y*
- 11.63%
- 5Y*
- 11.71%
- 10Y*
- 8.60%
KKR vs. DBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
KKR KKR & Co. Inc. | -20.27% | -13.32% | 79.65% | 80.48% | -36.98% | 85.76% | 41.13% | 51.57% | -4.28% | 41.78% |
DBC Invesco DB Commodity Index Tracking Fund | 28.76% | 8.10% | 2.18% | -6.19% | 19.34% | 41.36% | -7.84% | 11.84% | -11.63% | 4.86% |
Correlation
The correlation between KKR and DBC is -0.04, 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 | -0.04 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Jul 15, 2010 | 0.24 |
The correlation between KKR and DBC shifts across timeframes, from -0.04 (1 year) to 0.24 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
KKR vs. DBC — Risk / Return Rank
KKR
DBC
KKR vs. DBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for KKR & Co. Inc. (KKR) 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.
| KKR | DBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.48 | ||
| Sortino ratioReturn per unit of downside risk | -3.24 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 1.31 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | -0.58 | 2.04 | -2.62 |
| Martin ratioReturn relative to average drawdown | -0.96 | 7.04 | -8.00 |
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Drawdowns
KKR vs. DBC - Drawdown Comparison
The maximum KKR drawdown since its inception was -53.10%, smaller than the maximum DBC drawdown of -76.36%. Use the drawdown chart below to compare losses from any high point for KKR and DBC.
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Drawdown Indicators
| KKR | DBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.10% | -76.36% | +23.26% |
Max Drawdown (1Y)Largest decline over 1 year | -44.62% | -16.54% | -28.08% |
Max Drawdown (3Y)Largest decline over 3 years | -49.42% | -16.54% | -32.88% |
Max Drawdown (5Y)Largest decline over 5 years | -49.42% | -27.34% | -22.08% |
Max Drawdown (10Y)Largest decline over 10 years | -49.42% | -41.71% | -7.71% |
Current DrawdownCurrent decline from peak | -38.82% | -25.52% | -13.30% |
Average DrawdownAverage peak-to-trough decline | -16.35% | -46.12% | +29.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 26.86% | 4.78% | +22.08% |
Volatility
KKR vs. DBC - Volatility Comparison
KKR & Co. Inc. (KKR) has a higher volatility of 9.33% compared to Invesco DB Commodity Index Tracking Fund (DBC) at 6.03%. This indicates that KKR's price experiences larger fluctuations and is considered to be riskier 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
| KKR | DBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.33% | 6.03% | +3.30% |
Volatility (6M)Calculated over the trailing 6-month period | 29.64% | 16.67% | +12.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 37.35% | 18.81% | +18.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.35% | 19.28% | +20.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 36.59% | 17.80% | +18.79% |
Dividends
KKR vs. DBC - Dividend Comparison
KKR's dividend yield for the trailing twelve months is around 1.03%, less than DBC's 2.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBC Invesco DB Commodity Index Tracking Fund | 2.58% | 3.33% | 5.22% | 4.94% | 0.59% | 0.00% | 0.00% | 1.59% | 1.30% | 0.00% | 0.00% | 0.00% |
KKR KKR & Co. Inc. | 1.03% | 0.57% | 0.47% | 0.78% | 1.31% | 0.77% | 1.31% | 1.71% | 3.23% | 3.18% | 4.16% | 10.13% |
Frequently Asked Questions
KKR and DBC have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KKR has higher volatility (9.33%) compared to DBC (6.03%). In terms of maximum drawdown, KKR dropped -53.10% vs DBC's -76.36%.
DBC currently has the higher Sharpe Ratio (1.79 vs -0.69), 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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