NDAQ vs. DBC
NDAQ (Nasdaq, 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, NDAQ returned 16.67%/yr vs 8.90%/yr for DBC. Their 0.19 correlation means their historical movements had little consistent relationship.
Performance
NDAQ vs. DBC - Performance Comparison
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Returns By Period
In the year-to-date period, NDAQ achieves a -1.99% return, which is significantly lower than DBC's 27.37% return. Over the past 10 years, NDAQ has outperformed DBC with an annualized return of 16.67%, while DBC has yielded a comparatively lower 8.90% annualized return.
NDAQ
- 1D
- 1.00%
- 1M
- 11.95%
- 6M
- 7.58%
- YTD
- -1.99%
- 1Y
- -0.61%
- 3Y*
- 25.84%
- 5Y*
- 9.98%
- 10Y*
- 16.67%
- ALL TIME*
- 14.07%
DBC
- 1D
- 0.60%
- 1M
- 5.48%
- 6M
- 17.73%
- YTD
- 27.37%
- 1Y
- 34.92%
- 3Y*
- 9.99%
- 5Y*
- 11.48%
- 10Y*
- 8.90%
- ALL TIME*
- 1.88%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $29.84M | $30.72M | $31.47M | |
NDAQ Nasdaq, Inc. | $368.48M | $369.14M | $354.79M |
NDAQ vs. DBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NDAQ Nasdaq, Inc. | -1.99% | 27.19% | 34.85% | -3.66% | -11.19% | 60.13% | 25.99% | 33.88% | 8.21% | 16.76% |
DBC Invesco DB Commodity Index Tracking Fund | 27.37% | 8.10% | 2.18% | -6.19% | 19.34% | 41.36% | -7.84% | 11.84% | -11.63% | 4.86% |
Correlation
The correlation between NDAQ and DBC is -0.09, 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. | -0.09 |
Correlation (3Y) Balances recent behavior with more history. | -0.00 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.07 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.12 |
Correlation (All Time) Calculated using the full available price history since Feb 6, 2006 | 0.19 |
The correlation between NDAQ and DBC shifts across timeframes, from -0.09 (1 year) to 0.19 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
NDAQ vs. DBC — Risk / Return Rank
NDAQ
DBC
NDAQ vs. DBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Nasdaq, Inc. (NDAQ) 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.
| NDAQ | DBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.80 | ||
| Sortino ratioReturn per unit of downside risk | -2.23 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.30 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.03 | 2.12 | -2.15 |
| Martin ratioReturn relative to average drawdown | -0.06 | 6.91 | -6.97 |
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Drawdowns
NDAQ vs. DBC - Drawdown Comparison
The maximum NDAQ drawdown since its inception was -68.48%, smaller than the maximum DBC drawdown of -76.36%. Use the drawdown chart below to compare losses from any high point for NDAQ and DBC.
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Drawdown Indicators
| NDAQ | DBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.48% | -76.36% | +7.88% |
Max Drawdown (1Y)Largest decline over 1 year | -23.39% | -16.54% | -6.85% |
Max Drawdown (3Y)Largest decline over 3 years | -23.39% | -16.54% | -6.85% |
Max Drawdown (5Y)Largest decline over 5 years | -32.84% | -27.34% | -5.50% |
Max Drawdown (10Y)Largest decline over 10 years | -38.31% | -41.71% | +3.40% |
Current DrawdownCurrent decline from peak | -5.72% | -26.32% | +20.60% |
Average DrawdownAverage peak-to-trough decline | -23.74% | -46.06% | +22.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.76% | 5.07% | +5.69% |
Volatility
NDAQ vs. DBC - Volatility Comparison
Nasdaq, Inc. (NDAQ) has a higher volatility of 8.52% compared to Invesco DB Commodity Index Tracking Fund (DBC) at 7.61%. This indicates that NDAQ'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
| NDAQ | DBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.52% | 7.61% | +0.91% |
Volatility (6M)Calculated over the trailing 6-month period | 22.17% | 16.61% | +5.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.31% | 19.70% | +7.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.65% | 19.33% | +5.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.59% | 17.89% | +6.70% |
Dividends
NDAQ vs. DBC - Dividend Comparison
NDAQ's dividend yield for the trailing twelve months is around 1.18%, less than DBC's 2.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBC Invesco DB Commodity Index Tracking Fund | 2.61% | 3.33% | 5.22% | 4.94% | 0.59% | 0.00% | 0.00% | 1.59% | 1.30% | 0.00% | 0.00% | 0.00% |
NDAQ Nasdaq, Inc. | 1.18% | 1.08% | 1.22% | 1.48% | 1.27% | 1.00% | 1.46% | 1.73% | 2.08% | 1.90% | 1.80% | 1.55% |
Frequently Asked Questions
NDAQ and DBC have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NDAQ has higher volatility (8.52%) compared to DBC (7.61%). In terms of maximum drawdown, NDAQ dropped -68.48% vs DBC's -76.36%.
DBC currently has the higher Sharpe Ratio (1.78 vs -0.02), 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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