SIXP vs. DBC

Last updated Jun 4, 2026

SIXP (AllianzIM U.S. Equity 6 Month Buffer10 Mar/Sep ETF) and DBC (Invesco DB Commodity Index Tracking Fund) are both exchange-traded funds - SIXP is a Defined Outcome fund actively managed by Allianz, while DBC is a Commodities fund tracking the DBIQ Optimum Yield Diversified Commodity Index Excess Return. SIXP is actively managed, while DBC is passively managed. Over the past year, SIXP returned 17.68% vs 45.90% for DBC. At a 0.02 correlation, their price movements are largely independent. SIXP charges 0.74%/yr vs 0.85%/yr for DBC.

Performance

SIXP vs. DBC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Equity 6 Month Buffer10 Mar/Sep ETF (SIXP) and Invesco DB Commodity Index Tracking Fund (DBC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SIXP achieves a 6.59% return, which is significantly lower than DBC's 35.47% return.

SIXP

• 1D: -0.10%
• 1M: 1.99%
• YTD: 6.59%
• 6M: 7.46%
• 1Y: 17.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DBC

• 1D: 0.56%
• 1M: -3.32%
• YTD: 35.47%
• 6M: 35.36%
• 1Y: 45.90%
• 3Y*: 15.09%
• 5Y*: 12.78%
• 10Y*: 9.10%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SIXP vs. DBC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SIXP AllianzIM U.S. Equity 6 Month Buffer10 Mar/Sep ETF	6.59%	13.42%	10.64%
DBC Invesco DB Commodity Index Tracking Fund	35.47%	8.10%	1.91%

Correlation

The correlation between SIXP and DBC is -0.19, 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	-0.19
Correlation (All Time) Calculated using the full available price history since Mar 4, 2024	0.02

The correlation between SIXP and DBC shifts across timeframes, from -0.19 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.

SIXP vs. DBC - Sectors Allocation Comparison

Sectors	SIXP	DBC
Technology	36.2%	-
Financial Services	11.9%	91.5%
Communication Services	10.9%	-
Consumer Cyclical	10.1%	-
Healthcare	8.4%	-
Industrials	8.1%	-
Consumer Defensive	4.9%	-
Energy	3.5%	-
Utilities	2.3%	-
Real Estate	1.9%	-
Basic Materials	1.8%	-

Return for Risk

SIXP vs. DBC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SIXP

SIXP Risk / Return Rank: 88
SIXP Sharpe Ratio Rank: 86
SIXP Sortino Ratio Rank: 90
SIXP Omega Ratio Rank: 91
SIXP Calmar Ratio Rank: 79
SIXP Martin Ratio Rank: 91

DBC

DBC Risk / Return Rank: 75
DBC Sharpe Ratio Rank: 74
DBC Sortino Ratio Rank: 67
DBC Omega Ratio Rank: 70
DBC Calmar Ratio Rank: 92
DBC Martin Ratio Rank: 72

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SIXP vs. DBC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Equity 6 Month Buffer10 Mar/Sep ETF (SIXP) 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.

	SIXP	DBC	Difference
Sharpe ratio Return per unit of total volatility	2.83	2.47	+0.36
Sortino ratio Return per unit of downside risk	4.17	3.16	+1.01
Omega ratio Gain probability vs. loss probability	1.60	1.43	+0.17
Calmar ratio Return relative to maximum drawdown	3.97	6.54	-2.57
Martin ratio Return relative to average drawdown	21.92	13.91	+8.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SIXP vs. DBC - Sharpe Ratio Comparison

The current SIXP Sharpe Ratio is 2.83, which is comparable to the DBC Sharpe Ratio of 2.47. The chart below compares the historical Sharpe Ratios of SIXP and DBC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SIXP	DBC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.83	2.47	+0.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.67	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.51	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.54	0.12	+1.42

Drawdowns

SIXP vs. DBC - Drawdown Comparison

The maximum SIXP drawdown since its inception was -11.28%, smaller than the maximum DBC drawdown of -76.36%. Use the drawdown chart below to compare losses from any high point for SIXP and DBC.

Drawdown Indicators

	SIXP	DBC	Difference
Max Drawdown Largest peak-to-trough decline	-11.28%	-76.36%	+65.08%
Max Drawdown (1Y) Largest decline over 1 year	-4.48%	-7.05%	+2.57%
Max Drawdown (3Y) Largest decline over 3 years	—	-13.82%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-27.34%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.71%	—
Current Drawdown Current decline from peak	-0.10%	-21.64%	+21.54%
Average Drawdown Average peak-to-trough decline	-0.83%	-46.22%	+45.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.81%	3.31%	-2.50%

Volatility

SIXP vs. DBC - Volatility Comparison

The current volatility for AllianzIM U.S. Equity 6 Month Buffer10 Mar/Sep ETF (SIXP) is 0.80%, while Invesco DB Commodity Index Tracking Fund (DBC) has a volatility of 6.45%. This indicates that SIXP 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.

Volatility by Period

	SIXP	DBC	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.80%	6.45%	-5.65%
Volatility (6M) Calculated over the trailing 6-month period	5.01%	15.75%	-10.74%
Volatility (1Y) Calculated over the trailing 1-year period	6.28%	18.68%	-12.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.00%	19.18%	-10.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.00%	17.81%	-8.81%

SIXP vs. DBC - Expense Ratio Comparison

SIXP has a 0.74% expense ratio, which is lower than DBC's 0.85% expense ratio.

Dividends

SIXP vs. DBC - Dividend Comparison

SIXP has not paid dividends to shareholders, while DBC's dividend yield for the trailing twelve months is around 2.46%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DBC Invesco DB Commodity Index Tracking Fund	2.46%	3.33%	5.22%	4.94%	0.59%	0.00%	0.00%	1.59%	1.30%
SIXP AllianzIM U.S. Equity 6 Month Buffer10 Mar/Sep ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SIXP and DBC in my portfolio?

SIXP and DBC have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SIXP or DBC?

DBC has higher volatility (6.45%) compared to SIXP (0.80%). In terms of maximum drawdown, SIXP dropped -11.28% vs DBC's -76.36%.

Which ETF is better, SIXP or DBC?

On 1-year performance, DBC leads with 45.90% vs 17.68% for SIXP. On fees, SIXP is cheaper at 0.74% per year. On volatility, SIXP has been the lower-risk option at 0.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SIXP or DBC?

Over the 1-year period, DBC has performed better with a 45.90% return vs 17.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SIXP or DBC?

SIXP is cheaper with a 0.74% expense ratio, compared with 0.85% for DBC.

Which ETF pays a higher dividend yield, SIXP or DBC?

DBC has the higher dividend yield at 2.46%, compared with 0.00% for SIXP.

What is the main difference between SIXP and DBC?

SIXP is categorized as Defined Outcome, while DBC is Commodities. They also come from different issuers: Allianz and Invesco. Their fees differ too: 0.74% for SIXP and 0.85% for DBC.

Which has better risk-adjusted returns?

SIXP currently has the higher Sharpe Ratio (2.83 vs 2.47), 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.