MBSD vs. DBC
MBSD (FlexShares Disciplined Duration MBS Index Fund) and DBC (Invesco DB Commodity Index Tracking Fund) are both exchange-traded funds - MBSD is a Mortgage Backed Securities fund tracking the ICE BofA Constrained Duration US Mortgage Backed Securities, while DBC is a Commodities fund tracking the DBIQ Optimum Yield Diversified Commodity Index Excess Return. Both are passively managed. Over the past 10 years, MBSD returned 1.30%/yr vs 9.54%/yr for DBC. Their -0.06 correlation means they have often moved in opposite directions in the past. MBSD charges 0.20%/yr vs 0.85%/yr for DBC.
Performance
MBSD vs. DBC - Performance Comparison
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Returns By Period
In the year-to-date period, MBSD achieves a -0.19% return, which is significantly lower than DBC's 31.71% return. Over the past 10 years, MBSD has underperformed DBC with an annualized return of 1.30%, while DBC has yielded a comparatively higher 9.54% annualized return.
MBSD
- 1D
- -0.34%
- 1M
- -0.87%
- 6M
- -0.62%
- YTD
- -0.19%
- 1Y
- 2.42%
- 3Y*
- 4.23%
- 5Y*
- 0.47%
- 10Y*
- 1.30%
- ALL TIME*
- 1.54%
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 | |
| $201.68K | $253.65K | $251.40K |
MBSD vs. DBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MBSD FlexShares Disciplined Duration MBS Index Fund | -0.19% | 7.12% | 2.30% | 4.46% | -9.49% | -1.40% | 5.43% | 6.05% | 0.32% | 0.86% |
DBC Invesco DB Commodity Index Tracking Fund | 31.71% | 8.10% | 2.18% | -6.19% | 19.34% | 41.36% | -7.84% | 11.84% | -11.63% | 4.86% |
Correlation
The correlation between MBSD and DBC is -0.36, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.36 |
Correlation (3Y) Balances recent behavior with more history. | -0.16 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.06 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.05 |
Correlation (All Time) Calculated using the full available price history since Sep 4, 2014 | -0.06 |
Over the past year, the inverse relationship between MBSD and DBC has strengthened: their correlation has moved from -0.06 to -0.36, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
MBSD vs. DBC — Risk / Return Rank
MBSD
DBC
MBSD vs. DBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares Disciplined Duration MBS Index Fund (MBSD) 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.
| MBSD | DBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.88 | ||
| Sortino ratioReturn per unit of downside risk | -1.07 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.31 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.50 | 2.16 | -0.67 |
| Martin ratioReturn relative to average drawdown | 3.96 | 7.20 | -3.24 |
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Drawdowns
MBSD vs. DBC - Drawdown Comparison
The maximum MBSD drawdown since its inception was -14.36%, smaller than the maximum DBC drawdown of -76.36%. Use the drawdown chart below to compare losses from any high point for MBSD and DBC.
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Drawdown Indicators
| MBSD | DBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.36% | -76.36% | +62.00% |
Max Drawdown (1Y)Largest decline over 1 year | -2.17% | -16.54% | +14.37% |
Max Drawdown (3Y)Largest decline over 3 years | -4.25% | -16.54% | +12.29% |
Max Drawdown (5Y)Largest decline over 5 years | -14.05% | -27.34% | +13.29% |
Max Drawdown (10Y)Largest decline over 10 years | -14.36% | -41.71% | +27.35% |
Current DrawdownCurrent decline from peak | -1.79% | -23.81% | +22.02% |
Average DrawdownAverage peak-to-trough decline | -2.79% | -46.07% | +43.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | 5.00% | -4.18% |
Volatility
MBSD vs. DBC - Volatility Comparison
The current volatility for FlexShares Disciplined Duration MBS Index Fund (MBSD) is 0.85%, while Invesco DB Commodity Index Tracking Fund (DBC) has a volatility of 7.01%. This indicates that MBSD 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
| MBSD | DBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.85% | 7.01% | -6.16% |
Volatility (6M)Calculated over the trailing 6-month period | 2.58% | 17.35% | -14.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.43% | 19.58% | -16.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.17% | 19.31% | -14.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.26% | 17.87% | -13.61% |
MBSD vs. DBC - Expense Ratio Comparison
MBSD has a 0.20% expense ratio, which is lower than DBC's 0.85% expense ratio.
Dividends
MBSD vs. DBC - Dividend Comparison
MBSD's dividend yield for the trailing twelve months is around 4.21%, more than DBC's 2.53% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% | 0.00% |
MBSD FlexShares Disciplined Duration MBS Index Fund | 3.88% | 4.23% | 3.91% | 3.39% | 3.03% | 2.41% | 2.78% | 3.42% | 3.22% | 3.30% | 3.02% | 3.46% |
Frequently Asked Questions
MBSD and DBC have a correlation of -0.36, 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 MBSD (0.85%). In terms of maximum drawdown, MBSD dropped -14.36% vs DBC's -76.36%.
On 10-year performance, DBC leads with 9.54% vs 1.30% for MBSD. On fees, MBSD is cheaper at 0.20% per year. On volatility, MBSD has been the lower-risk option at 0.85%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DBC has performed better with a 9.54% return vs 1.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MBSD is cheaper with a 0.20% expense ratio, compared with 0.85% for DBC.
MBSD has the higher dividend yield at 3.88%, compared with 2.53% for DBC.
MBSD is categorized as Mortgage Backed Securities, while DBC is Commodities. MBSD tracks ICE BofA Constrained Duration US Mortgage Backed Securities, while DBC tracks DBIQ Optimum Yield Diversified Commodity Index Excess Return. They also come from different issuers: Northern Trust and Invesco. Their fees differ too: 0.20% for MBSD and 0.85% for DBC.
DBC currently has the higher Sharpe Ratio (1.83 vs 0.95), 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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