PRFD vs. DBC
PRFD (PIMCO Preferred And Capital Securities Active Exchange-Traded Fund) and DBC (Invesco DB Commodity Index Tracking Fund) are both exchange-traded funds - PRFD is a Preferred Stock/Convertible Bonds fund actively managed by PIMCO, while DBC is a Commodities fund tracking the DBIQ Optimum Yield Diversified Commodity Index Excess Return. PRFD is actively managed, while DBC is passively managed. Over the past 3 years, PRFD returned 8.87%/yr vs 11.04%/yr for DBC. At a correlation of -0.03, they often move in opposite directions. PRFD charges 0.74%/yr vs 0.85%/yr for DBC.
Performance
PRFD vs. DBC - Performance Comparison
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Returns By Period
In the year-to-date period, PRFD achieves a 1.57% return, which is significantly lower than DBC's 26.70% return.
PRFD
- 1D
- -0.26%
- 1M
- 0.04%
- 6M
- 1.10%
- YTD
- 1.57%
- 1Y
- 6.07%
- 3Y*
- 8.87%
- 5Y*
- —
- 10Y*
- —
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%
PRFD vs. DBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
PRFD PIMCO Preferred And Capital Securities Active Exchange-Traded Fund | 1.57% | 8.45% | 9.92% | 1.81% |
DBC Invesco DB Commodity Index Tracking Fund | 26.70% | 8.10% | 2.18% | -6.35% |
Correlation
The correlation between PRFD 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 | -0.08 |
Correlation (All Time) Calculated using the full available price history since Jan 19, 2023 | -0.03 |
The correlation between PRFD and DBC shifts across timeframes, from -0.20 (1 year) to -0.03 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PRFD vs. DBC — Risk / Return Rank
PRFD
DBC
PRFD vs. DBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Preferred And Capital Securities Active Exchange-Traded Fund (PRFD) 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.
| PRFD | DBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.32 | ||
| Sortino ratioReturn per unit of downside risk | +0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.28 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.86 | 1.83 | +0.03 |
| Martin ratioReturn relative to average drawdown | 7.58 | 6.41 | +1.17 |
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Drawdowns
PRFD vs. DBC - Drawdown Comparison
The maximum PRFD drawdown since its inception was -11.93%, smaller than the maximum DBC drawdown of -76.36%. Use the drawdown chart below to compare losses from any high point for PRFD and DBC.
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Drawdown Indicators
| PRFD | DBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.93% | -76.36% | +64.43% |
Max Drawdown (1Y)Largest decline over 1 year | -3.28% | -16.54% | +13.26% |
Max Drawdown (3Y)Largest decline over 3 years | -6.28% | -16.54% | +10.26% |
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 | -0.70% | -26.71% | +26.01% |
Average DrawdownAverage peak-to-trough decline | -2.17% | -46.13% | +43.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.80% | 4.71% | -3.91% |
Volatility
PRFD vs. DBC - Volatility Comparison
The current volatility for PIMCO Preferred And Capital Securities Active Exchange-Traded Fund (PRFD) is 0.75%, while Invesco DB Commodity Index Tracking Fund (DBC) has a volatility of 6.07%. This indicates that PRFD 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
| PRFD | DBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.75% | 6.07% | -5.32% |
Volatility (6M)Calculated over the trailing 6-month period | 2.69% | 16.67% | -13.98% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.18% | 18.84% | -15.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.83% | 19.28% | -14.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.83% | 17.80% | -12.97% |
PRFD vs. DBC - Expense Ratio Comparison
PRFD has a 0.74% expense ratio, which is lower than DBC's 0.85% expense ratio.
Dividends
PRFD vs. DBC - Dividend Comparison
PRFD's dividend yield for the trailing twelve months is around 5.81%, more than DBC's 2.63% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
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% |
PRFD PIMCO Preferred And Capital Securities Active Exchange-Traded Fund | 5.81% | 5.63% | 5.53% | 5.04% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PRFD 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 PRFD (0.75%). In terms of maximum drawdown, PRFD dropped -11.93% vs DBC's -76.36%.
On 3-year performance, DBC leads with 11.04% vs 8.87% for PRFD. On fees, PRFD is cheaper at 0.74% per year. On volatility, PRFD has been the lower-risk option at 0.75%. 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 11.04% return vs 8.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PRFD is cheaper with a 0.74% expense ratio, compared with 0.85% for DBC.
PRFD has the higher dividend yield at 5.81%, compared with 2.63% for DBC.
PRFD is categorized as Preferred Stock/Convertible Bonds, while DBC is Commodities. They also come from different issuers: PIMCO and Invesco. Their fees differ too: 0.74% for PRFD and 0.85% for DBC.
PRFD currently has the higher Sharpe Ratio (1.92 vs 1.61), 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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