USCI vs. DBA
USCI (United States Commodity Index Fund) and DBA (Invesco DB Agriculture Fund) are both exchange-traded funds - USCI is a Commodities fund tracking the SummerHaven Dynamic Commodity Index Total Return, while DBA is a Agricultural Commodities fund tracking the DBIQ Diversified Agriculture Index Excess Return. Both are passively managed. Over the past 10 years, USCI returned 8.41%/yr vs 4.14%/yr for DBA. A 0.62 correlation means they provide meaningful diversification when combined. USCI charges 1.03%/yr vs 0.88%/yr for DBA.
Performance
USCI vs. DBA - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, USCI achieves a 23.68% return, which is significantly higher than DBA's 8.82% return. Over the past 10 years, USCI has outperformed DBA with an annualized return of 8.41%, while DBA has yielded a comparatively lower 4.14% annualized return.
USCI
- 1D
- -0.50%
- 1M
- -0.05%
- 6M
- 22.70%
- YTD
- 23.68%
- 1Y
- 28.10%
- 3Y*
- 20.39%
- 5Y*
- 19.25%
- 10Y*
- 8.41%
DBA
- 1D
- 0.22%
- 1M
- 5.59%
- 6M
- 7.72%
- YTD
- 8.82%
- 1Y
- 11.65%
- 3Y*
- 13.55%
- 5Y*
- 12.19%
- 10Y*
- 4.14%
USCI vs. DBA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
USCI United States Commodity Index Fund | 23.68% | 17.63% | 17.24% | -0.00% | 29.47% | 33.07% | -11.47% | -1.68% | -11.76% | 6.32% |
DBA Invesco DB Agriculture Fund | 8.82% | -0.56% | 33.45% | 7.64% | 2.53% | 22.37% | -2.54% | -0.71% | -8.74% | -6.06% |
Correlation
The correlation between USCI and DBA is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.48 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Aug 10, 2010 | 0.62 |
The correlation between USCI and DBA shifts across timeframes, from 0.48 (1 year) to 0.62 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
USCI vs. DBA — Risk / Return Rank
USCI
DBA
USCI vs. DBA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for United States Commodity Index Fund (USCI) and Invesco DB Agriculture Fund (DBA). 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.
| USCI | DBA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.69 | ||
| Sortino ratioReturn per unit of downside risk | +0.75 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.19 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.67 | 1.35 | +1.32 |
| Martin ratioReturn relative to average drawdown | 8.50 | 2.83 | +5.67 |
Loading charts...
Drawdowns
USCI vs. DBA - Drawdown Comparison
The maximum USCI drawdown since its inception was -66.41%, roughly equal to the maximum DBA drawdown of -67.97%. Use the drawdown chart below to compare losses from any high point for USCI and DBA.
Loading charts...
Drawdown Indicators
| USCI | DBA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.41% | -67.97% | +1.56% |
Max Drawdown (1Y)Largest decline over 1 year | -11.19% | -8.67% | -2.52% |
Max Drawdown (3Y)Largest decline over 3 years | -12.01% | -12.36% | +0.35% |
Max Drawdown (5Y)Largest decline over 5 years | -18.84% | -15.94% | -2.90% |
Max Drawdown (10Y)Largest decline over 10 years | -45.82% | -37.97% | -7.85% |
Current DrawdownCurrent decline from peak | -6.52% | -23.39% | +16.87% |
Average DrawdownAverage peak-to-trough decline | -29.37% | -41.02% | +11.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.51% | 4.12% | -0.61% |
Volatility
USCI vs. DBA - Volatility Comparison
United States Commodity Index Fund (USCI) has a higher volatility of 4.94% compared to Invesco DB Agriculture Fund (DBA) at 3.88%. This indicates that USCI's price experiences larger fluctuations and is considered to be riskier than DBA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| USCI | DBA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.94% | 3.88% | +1.06% |
Volatility (6M)Calculated over the trailing 6-month period | 14.42% | 7.43% | +6.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.91% | 10.83% | +6.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.40% | 13.86% | +4.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.88% | 13.06% | +2.82% |
USCI vs. DBA - Expense Ratio Comparison
USCI has a 1.03% expense ratio, which is higher than DBA's 0.88% expense ratio.
Dividends
USCI vs. DBA - Dividend Comparison
USCI has not paid dividends to shareholders, while DBA's dividend yield for the trailing twelve months is around 3.29%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBA Invesco DB Agriculture Fund | 3.29% | 3.58% | 4.08% | 4.63% | 0.48% | 0.00% | 0.00% | 1.55% | 1.06% |
USCI United States Commodity Index Fund | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
USCI and DBA have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USCI has higher volatility (4.94%) compared to DBA (3.88%). In terms of maximum drawdown, USCI dropped -66.41% vs DBA's -67.97%.
On 10-year performance, USCI leads with 8.41% vs 4.14% for DBA. On fees, DBA is cheaper at 0.88% per year. On volatility, DBA has been the lower-risk option at 3.88%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, USCI has performed better with a 8.41% return vs 4.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DBA is cheaper with a 0.88% expense ratio, compared with 1.03% for USCI.
DBA has the higher dividend yield at 3.29%, compared with 0.00% for USCI.
USCI is categorized as Commodities, while DBA is Agricultural Commodities. USCI tracks SummerHaven Dynamic Commodity Index Total Return, while DBA tracks DBIQ Diversified Agriculture Index Excess Return. They also come from different issuers: United States Commodity Funds and Invesco. Their fees differ too: 1.03% for USCI and 0.88% for DBA.
USCI currently has the higher Sharpe Ratio (1.77 vs 1.08), 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.
Find the right allocation for USCI and DBA
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer