MUSQ vs. DBC
MUSQ (MUSQ Global Music Industry Index ETF) and DBC (Invesco DB Commodity Index Tracking Fund) are both exchange-traded funds - MUSQ is a Communications Equities fund tracking the MUSQ Global Music Industry Index, while DBC is a Commodities fund tracking the DBIQ Optimum Yield Diversified Commodity Index Excess Return. Both are passively managed. Over the past 3 years, MUSQ returned -0.43%/yr vs 11.07%/yr for DBC. Their 0.05 correlation means their historical movements had little consistent relationship. MUSQ charges 0.76%/yr vs 0.85%/yr for DBC.
Performance
MUSQ vs. DBC - Performance Comparison
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Returns By Period
In the year-to-date period, MUSQ achieves a -12.75% return, which is significantly lower than DBC's 31.71% return.
MUSQ
- 1D
- -4.84%
- 1M
- -4.32%
- 6M
- -11.21%
- YTD
- -12.75%
- 1Y
- -8.84%
- 3Y*
- -0.43%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 0.00%
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 | |
| $161.63K | $82.87K | $43.23K |
MUSQ vs. DBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
MUSQ MUSQ Global Music Industry Index ETF | -12.75% | 19.60% | -4.94% | 0.81% |
DBC Invesco DB Commodity Index Tracking Fund | 31.71% | 8.10% | 2.18% | 1.46% |
Correlation
The correlation between MUSQ and DBC is -0.10, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.10 |
Correlation (3Y) Balances recent behavior with more history. | 0.04 |
Correlation (All Time) Calculated using the full available price history since Jul 7, 2023 | 0.05 |
The correlation between MUSQ and DBC shifts across timeframes, from -0.10 (1 year) to 0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MUSQ vs. DBC — Risk / Return Rank
MUSQ
DBC
MUSQ vs. DBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MUSQ Global Music Industry Index ETF (MUSQ) 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.
| MUSQ | DBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.42 | ||
| Sortino ratioReturn per unit of downside risk | -3.17 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.31 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | -0.46 | 2.16 | -2.63 |
| Martin ratioReturn relative to average drawdown | -0.94 | 7.20 | -8.14 |
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Drawdowns
MUSQ vs. DBC - Drawdown Comparison
The maximum MUSQ drawdown since its inception was -23.11%, smaller than the maximum DBC drawdown of -76.36%. Use the drawdown chart below to compare losses from any high point for MUSQ and DBC.
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Drawdown Indicators
| MUSQ | DBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.11% | -76.36% | +53.25% |
Max Drawdown (1Y)Largest decline over 1 year | -23.11% | -16.54% | -6.57% |
Max Drawdown (3Y)Largest decline over 3 years | -23.11% | -16.54% | -6.57% |
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 | -18.60% | -23.81% | +5.21% |
Average DrawdownAverage peak-to-trough decline | -7.07% | -46.07% | +39.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.39% | 5.00% | +6.39% |
Volatility
MUSQ vs. DBC - Volatility Comparison
The current volatility for MUSQ Global Music Industry Index ETF (MUSQ) is 6.64%, while Invesco DB Commodity Index Tracking Fund (DBC) has a volatility of 7.01%. This indicates that MUSQ 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
| MUSQ | DBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.64% | 7.01% | -0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 15.14% | 17.35% | -2.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.14% | 19.58% | -1.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.08% | 19.31% | -1.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.08% | 17.87% | +0.21% |
MUSQ vs. DBC - Expense Ratio Comparison
MUSQ has a 0.76% expense ratio, which is lower than DBC's 0.85% expense ratio.
Dividends
MUSQ vs. DBC - Dividend Comparison
MUSQ's dividend yield for the trailing twelve months is around 0.72%, less 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% |
MUSQ MUSQ Global Music Industry Index ETF | 0.72% | 0.63% | 1.08% | 0.74% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MUSQ and DBC have a correlation of -0.10, 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 MUSQ (6.64%). In terms of maximum drawdown, MUSQ dropped -23.11% vs DBC's -76.36%.
On 3-year performance, DBC leads with 11.07% vs -0.43% for MUSQ. On fees, MUSQ is cheaper at 0.76% per year. On volatility, MUSQ has been the lower-risk option at 6.64%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, DBC has performed better with a 11.07% return vs -0.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MUSQ is cheaper with a 0.76% expense ratio, compared with 0.85% for DBC.
DBC has the higher dividend yield at 2.53%, compared with 0.72% for MUSQ.
MUSQ is categorized as Communications Equities, while DBC is Commodities. MUSQ tracks MUSQ Global Music Industry Index, while DBC tracks DBIQ Optimum Yield Diversified Commodity Index Excess Return. They also come from different issuers: Exchange Traded Concepts and Invesco. Their fees differ too: 0.76% for MUSQ and 0.85% for DBC.
DBC currently has the higher Sharpe Ratio (1.83 vs -0.59), 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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