UTHY vs. DBC
UTHY (US Treasury 30 Year Bond ETF) and DBC (Invesco DB Commodity Index Tracking Fund) are both exchange-traded funds - UTHY is a Government Bonds fund tracking the ICE BofA Current 30-Year US Treasury Index - Benchmark TR Gross, while DBC is a Commodities fund tracking the DBIQ Optimum Yield Diversified Commodity Index Excess Return. Both are passively managed. Over the past 3 years, UTHY returned -1.17%/yr vs 9.77%/yr for DBC. Their -0.16 correlation means they have often moved in opposite directions in the past. UTHY charges 0.15%/yr vs 0.85%/yr for DBC.
Performance
UTHY vs. DBC - Performance Comparison
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Returns By Period
In the year-to-date period, UTHY achieves a -2.44% return, which is significantly lower than DBC's 26.61% return.
UTHY
- 1D
- 0.77%
- 1M
- -2.84%
- 6M
- -2.13%
- YTD
- -2.44%
- 1Y
- -1.50%
- 3Y*
- -1.17%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -3.02%
DBC
- 1D
- -1.97%
- 1M
- 6.55%
- 6M
- 17.23%
- YTD
- 26.61%
- 1Y
- 32.95%
- 3Y*
- 9.77%
- 5Y*
- 11.16%
- 10Y*
- 8.84%
- ALL TIME*
- 1.85%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $31.62M | $30.85M | $33.84M | |
| $5.77M | $5.13M | $5.93M |
UTHY vs. DBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
UTHY US Treasury 30 Year Bond ETF | -2.44% | 3.47% | -8.07% | -2.77% |
DBC Invesco DB Commodity Index Tracking Fund | 26.61% | 8.10% | 2.18% | -1.14% |
Correlation
The correlation between UTHY and DBC is -0.37, 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. | -0.37 |
Correlation (3Y) Balances recent behavior with more history. | -0.19 |
Correlation (All Time) Calculated using the full available price history since Mar 28, 2023 | -0.16 |
Over the past year, the inverse relationship between UTHY and DBC has strengthened: their correlation has moved from -0.16 to -0.37, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
UTHY vs. DBC — Risk / Return Rank
UTHY
DBC
UTHY vs. DBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for US Treasury 30 Year Bond ETF (UTHY) 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.
| UTHY | DBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.85 | ||
| Sortino ratioReturn per unit of downside risk | -2.44 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.28 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | -0.20 | 2.00 | -2.21 |
| Martin ratioReturn relative to average drawdown | -0.44 | 6.57 | -7.01 |
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Drawdowns
UTHY vs. DBC - Drawdown Comparison
The maximum UTHY drawdown since its inception was -21.86%, smaller than the maximum DBC drawdown of -76.36%. Use the drawdown chart below to compare losses from any high point for UTHY and DBC.
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Drawdown Indicators
| UTHY | DBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.86% | -76.36% | +54.50% |
Max Drawdown (1Y)Largest decline over 1 year | -7.41% | -16.54% | +9.13% |
Max Drawdown (3Y)Largest decline over 3 years | -14.90% | -16.54% | +1.64% |
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 | -13.30% | -26.76% | +13.46% |
Average DrawdownAverage peak-to-trough decline | -10.75% | -46.06% | +35.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.46% | 5.03% | -1.57% |
Volatility
UTHY vs. DBC - Volatility Comparison
The current volatility for US Treasury 30 Year Bond ETF (UTHY) is 2.54%, while Invesco DB Commodity Index Tracking Fund (DBC) has a volatility of 7.68%. This indicates that UTHY 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
| UTHY | DBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.54% | 7.68% | -5.14% |
Volatility (6M)Calculated over the trailing 6-month period | 6.63% | 16.78% | -10.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.92% | 19.70% | -10.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.46% | 19.33% | -5.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.46% | 17.89% | -4.43% |
UTHY vs. DBC - Expense Ratio Comparison
UTHY has a 0.15% expense ratio, which is lower than DBC's 0.85% expense ratio.
Dividends
UTHY vs. DBC - Dividend Comparison
UTHY's dividend yield for the trailing twelve months is around 4.81%, 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% |
UTHY US Treasury 30 Year Bond ETF | 4.81% | 4.53% | 4.58% | 2.81% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
UTHY and DBC have a correlation of -0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBC has higher volatility (7.68%) compared to UTHY (2.54%). In terms of maximum drawdown, UTHY dropped -21.86% vs DBC's -76.36%.
On 3-year performance, DBC leads with 9.77% vs -1.17% for UTHY. On fees, UTHY is cheaper at 0.15% per year. On volatility, UTHY has been the lower-risk option at 2.54%. 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 9.77% return vs -1.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UTHY is cheaper with a 0.15% expense ratio, compared with 0.85% for DBC.
UTHY has the higher dividend yield at 4.81%, compared with 2.63% for DBC.
UTHY is categorized as Government Bonds, while DBC is Commodities. UTHY tracks ICE BofA Current 30-Year US Treasury Index - Benchmark TR Gross, while DBC tracks DBIQ Optimum Yield Diversified Commodity Index Excess Return. They also come from different issuers: US Benchmark Series and Invesco. Their fees differ too: 0.15% for UTHY and 0.85% for DBC.
DBC currently has the higher Sharpe Ratio (1.68 vs -0.17), 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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