PLW vs. DBC
PLW (Invesco 1-30 Laddered Treasury ETF) and DBC (Invesco DB Commodity Index Tracking Fund) are both exchange-traded funds - PLW is a Government Bonds fund tracking the Ryan/NASDAQ 1-30 Year Treasury Laddered Index, 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, PLW returned -0.51%/yr vs 9.54%/yr for DBC. Their -0.20 correlation means they have often moved in opposite directions in the past. PLW charges 0.25%/yr vs 0.85%/yr for DBC.
Performance
PLW vs. DBC - Performance Comparison
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Returns By Period
In the year-to-date period, PLW achieves a -2.29% return, which is significantly lower than DBC's 31.71% return. Over the past 10 years, PLW has underperformed DBC with an annualized return of -0.51%, while DBC has yielded a comparatively higher 9.54% annualized return.
PLW
- 1D
- -0.45%
- 1M
- -2.40%
- 6M
- -2.30%
- YTD
- -2.29%
- 1Y
- -0.55%
- 3Y*
- 1.08%
- 5Y*
- -3.88%
- 10Y*
- -0.51%
- ALL TIME*
- 2.87%
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 | |
| $4.66M | $4.82M | $7.27M |
PLW vs. DBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PLW Invesco 1-30 Laddered Treasury ETF | -2.29% | 5.84% | -2.95% | 3.31% | -19.98% | -3.76% | 12.55% | 10.00% | -0.28% | 4.96% |
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 PLW and DBC is -0.39, 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. | -0.39 |
Correlation (3Y) Balances recent behavior with more history. | -0.20 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.13 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.16 |
Correlation (All Time) Calculated using the full available price history since Oct 11, 2007 | -0.20 |
The correlation between PLW and DBC shifts across timeframes, from -0.39 (1 year) to -0.13 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PLW vs. DBC — Risk / Return Rank
PLW
DBC
PLW vs. DBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco 1-30 Laddered Treasury ETF (PLW) 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.
| PLW | DBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.73 | ||
| Sortino ratioReturn per unit of downside risk | -2.26 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.31 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | 0.11 | 2.16 | -2.05 |
| Martin ratioReturn relative to average drawdown | 0.26 | 7.20 | -6.94 |
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Drawdowns
PLW vs. DBC - Drawdown Comparison
The maximum PLW drawdown since its inception was -32.70%, smaller than the maximum DBC drawdown of -76.36%. Use the drawdown chart below to compare losses from any high point for PLW and DBC.
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Drawdown Indicators
| PLW | DBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.70% | -76.36% | +43.66% |
Max Drawdown (1Y)Largest decline over 1 year | -5.45% | -16.54% | +11.09% |
Max Drawdown (3Y)Largest decline over 3 years | -9.49% | -16.54% | +7.05% |
Max Drawdown (5Y)Largest decline over 5 years | -28.30% | -27.34% | -0.96% |
Max Drawdown (10Y)Largest decline over 10 years | -32.70% | -41.71% | +9.01% |
Current DrawdownCurrent decline from peak | -23.74% | -23.81% | +0.07% |
Average DrawdownAverage peak-to-trough decline | -9.75% | -46.07% | +36.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.37% | 5.00% | -2.63% |
Volatility
PLW vs. DBC - Volatility Comparison
The current volatility for Invesco 1-30 Laddered Treasury ETF (PLW) is 1.63%, while Invesco DB Commodity Index Tracking Fund (DBC) has a volatility of 7.01%. This indicates that PLW 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
| PLW | DBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.63% | 7.01% | -5.38% |
Volatility (6M)Calculated over the trailing 6-month period | 4.85% | 17.35% | -12.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.32% | 19.58% | -13.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.81% | 19.31% | -9.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.07% | 17.87% | -8.80% |
PLW vs. DBC - Expense Ratio Comparison
PLW has a 0.25% expense ratio, which is lower than DBC's 0.85% expense ratio.
Dividends
PLW vs. DBC - Dividend Comparison
PLW's dividend yield for the trailing twelve months is around 3.95%, 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% |
PLW Invesco 1-30 Laddered Treasury ETF | 3.95% | 3.75% | 3.56% | 2.87% | 1.97% | 1.15% | 1.00% | 1.96% | 2.14% | 2.02% | 2.00% | 2.14% |
Frequently Asked Questions
PLW and DBC have a correlation of -0.39, 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 PLW (1.63%). In terms of maximum drawdown, PLW dropped -32.70% vs DBC's -76.36%.
On 10-year performance, DBC leads with 9.54% vs -0.51% for PLW. On fees, PLW is cheaper at 0.25% per year. On volatility, PLW has been the lower-risk option at 1.63%. 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 -0.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PLW is cheaper with a 0.25% expense ratio, compared with 0.85% for DBC.
PLW has the higher dividend yield at 3.95%, compared with 2.53% for DBC.
PLW is categorized as Government Bonds, while DBC is Commodities. PLW tracks Ryan/NASDAQ 1-30 Year Treasury Laddered Index, while DBC tracks DBIQ Optimum Yield Diversified Commodity Index Excess Return. Their fees differ too: 0.25% for PLW and 0.85% for DBC.
DBC currently has the higher Sharpe Ratio (1.83 vs 0.10), 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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