NFLT vs. DBC
NFLT (Virtus Newfleet Multi-Sector Bond ETF) and DBC (Invesco DB Commodity Index Tracking Fund) are both exchange-traded funds - NFLT is a Multisector Bonds fund actively managed by Virtus, while DBC is a Commodities fund tracking the DBIQ Optimum Yield Diversified Commodity Index Excess Return. NFLT is actively managed, while DBC is passively managed. Over the past 10 years, NFLT returned 3.86%/yr vs 8.42%/yr for DBC. At a 0.05 correlation, their price movements are largely independent. NFLT charges 0.50%/yr vs 0.85%/yr for DBC.
Performance
NFLT vs. DBC - Performance Comparison
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Returns By Period
In the year-to-date period, NFLT achieves a 1.51% return, which is significantly lower than DBC's 26.70% return. Over the past 10 years, NFLT has underperformed DBC with an annualized return of 3.86%, while DBC has yielded a comparatively higher 8.42% annualized return.
NFLT
- 1D
- -0.39%
- 1M
- -0.24%
- 6M
- 1.29%
- YTD
- 1.51%
- 1Y
- 6.23%
- 3Y*
- 6.94%
- 5Y*
- 3.01%
- 10Y*
- 3.86%
DBC
- 1D
- 2.94%
- 1M
- -0.77%
- 6M
- 22.16%
- YTD
- 26.70%
- 1Y
- 30.09%
- 3Y*
- 11.04%
- 5Y*
- 11.23%
- 10Y*
- 8.42%
NFLT vs. DBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NFLT Virtus Newfleet Multi-Sector Bond ETF | 1.51% | 8.77% | 6.05% | 9.16% | -9.49% | 1.18% | 8.02% | 10.13% | -2.68% | 6.30% |
DBC Invesco DB Commodity Index Tracking Fund | 26.70% | 8.10% | 2.18% | -6.19% | 19.34% | 41.36% | -7.84% | 11.84% | -11.63% | 4.86% |
Correlation
The correlation between NFLT and DBC is -0.20, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Aug 11, 2015 | 0.05 |
The correlation between NFLT and DBC shifts across timeframes, from -0.20 (1 year) to 0.05 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
NFLT vs. DBC — Risk / Return Rank
NFLT
DBC
NFLT vs. DBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Virtus Newfleet Multi-Sector Bond ETF (NFLT) 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.
| NFLT | DBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.28 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.59 | 1.83 | +0.76 |
| Martin ratioReturn relative to average drawdown | 11.21 | 6.41 | +4.80 |
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Drawdowns
NFLT vs. DBC - Drawdown Comparison
The maximum NFLT drawdown since its inception was -15.17%, smaller than the maximum DBC drawdown of -76.36%. Use the drawdown chart below to compare losses from any high point for NFLT and DBC.
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Drawdown Indicators
| NFLT | DBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.17% | -76.36% | +61.19% |
Max Drawdown (1Y)Largest decline over 1 year | -2.42% | -16.54% | +14.12% |
Max Drawdown (3Y)Largest decline over 3 years | -3.24% | -16.54% | +13.30% |
Max Drawdown (5Y)Largest decline over 5 years | -13.42% | -27.34% | +13.92% |
Max Drawdown (10Y)Largest decline over 10 years | -15.17% | -41.71% | +26.54% |
Current DrawdownCurrent decline from peak | -0.89% | -26.71% | +25.82% |
Average DrawdownAverage peak-to-trough decline | -2.09% | -46.13% | +44.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.56% | 4.71% | -4.15% |
Volatility
NFLT vs. DBC - Volatility Comparison
The current volatility for Virtus Newfleet Multi-Sector Bond ETF (NFLT) is 1.57%, while Invesco DB Commodity Index Tracking Fund (DBC) has a volatility of 6.07%. This indicates that NFLT 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
| NFLT | DBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.57% | 6.07% | -4.50% |
Volatility (6M)Calculated over the trailing 6-month period | 3.14% | 16.67% | -13.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.03% | 18.84% | -14.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.48% | 19.28% | -14.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.93% | 17.80% | -12.87% |
NFLT vs. DBC - Expense Ratio Comparison
NFLT has a 0.50% expense ratio, which is lower than DBC's 0.85% expense ratio.
Dividends
NFLT vs. DBC - Dividend Comparison
NFLT's dividend yield for the trailing twelve months is around 5.51%, more than DBC's 2.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBC Invesco DB Commodity Index Tracking Fund | 2.63% | 3.33% | 5.22% | 4.94% | 0.59% | 0.00% | 0.00% | 1.59% | 1.30% | 0.00% | 0.00% | 0.00% |
NFLT Virtus Newfleet Multi-Sector Bond ETF | 5.51% | 5.74% | 5.76% | 6.02% | 4.16% | 3.41% | 3.63% | 4.33% | 4.81% | 6.23% | 5.30% | 0.67% |
Frequently Asked Questions
NFLT and DBC have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBC has higher volatility (6.07%) compared to NFLT (1.57%). In terms of maximum drawdown, NFLT dropped -15.17% vs DBC's -76.36%.
On 10-year performance, DBC leads with 8.42% vs 3.86% for NFLT. On fees, NFLT is cheaper at 0.50% per year. On volatility, NFLT has been the lower-risk option at 1.57%. 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 8.42% return vs 3.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NFLT is cheaper with a 0.50% expense ratio, compared with 0.85% for DBC.
NFLT has the higher dividend yield at 5.51%, compared with 2.63% for DBC.
NFLT is categorized as Multisector Bonds, while DBC is Commodities. They also come from different issuers: Virtus and Invesco. Their fees differ too: 0.50% for NFLT and 0.85% for DBC.
DBC currently has the higher Sharpe Ratio (1.61 vs 1.55), 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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