VEGN vs. DBC
VEGN (US Vegan Climate ETF) and DBC (Invesco DB Commodity Index Tracking Fund) are both exchange-traded funds - VEGN is a Large Cap Growth Equities fund tracking the US Vegan Climate Index, while DBC is a Commodities fund tracking the DBIQ Optimum Yield Diversified Commodity Index Excess Return. Both are passively managed. Over the past 5 years, VEGN returned 16.68%/yr vs 10.64%/yr for DBC. At a 0.18 correlation, their price movements are largely independent. VEGN charges 0.60%/yr vs 0.85%/yr for DBC.
Performance
VEGN vs. DBC - Performance Comparison
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Returns By Period
In the year-to-date period, VEGN achieves a 34.36% return, which is significantly higher than DBC's 22.58% return.
VEGN
- 1D
- 0.73%
- 1M
- 10.45%
- YTD
- 34.36%
- 6M
- 33.80%
- 1Y
- 53.65%
- 3Y*
- 30.07%
- 5Y*
- 16.68%
- 10Y*
- —
DBC
- 1D
- -0.80%
- 1M
- -10.25%
- YTD
- 22.58%
- 6M
- 22.42%
- 1Y
- 21.81%
- 3Y*
- 10.98%
- 5Y*
- 10.64%
- 10Y*
- 8.01%
VEGN vs. DBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VEGN US Vegan Climate ETF | 34.36% | 13.71% | 25.42% | 38.10% | -26.87% | 26.01% | 27.72% | 9.45% |
DBC Invesco DB Commodity Index Tracking Fund | 22.58% | 8.10% | 2.18% | -6.19% | 19.34% | 41.36% | -7.84% | 6.20% |
Correlation
The correlation between VEGN and DBC is -0.11, 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 | -0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Sep 10, 2019 | 0.18 |
The correlation between VEGN and DBC shifts across timeframes, from -0.11 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
VEGN vs. DBC — Risk / Return Rank
VEGN
DBC
VEGN vs. DBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for US Vegan Climate ETF (VEGN) 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.
| VEGN | DBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.83 | ||
| Sortino ratioReturn per unit of downside risk | +2.17 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.21 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 4.55 | 1.62 | +2.93 |
| Martin ratioReturn relative to average drawdown | 17.84 | 6.82 | +11.02 |
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Drawdowns
VEGN vs. DBC - Drawdown Comparison
The maximum VEGN drawdown since its inception was -34.14%, smaller than the maximum DBC drawdown of -76.36%. Use the drawdown chart below to compare losses from any high point for VEGN and DBC.
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Drawdown Indicators
| VEGN | DBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.14% | -76.36% | +42.22% |
Max Drawdown (1Y)Largest decline over 1 year | -11.85% | -13.51% | +1.66% |
Max Drawdown (3Y)Largest decline over 3 years | -20.91% | -13.82% | -7.09% |
Max Drawdown (5Y)Largest decline over 5 years | -33.40% | -27.34% | -6.06% |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.71% | — |
Current DrawdownCurrent decline from peak | 0.00% | -29.09% | +29.09% |
Average DrawdownAverage peak-to-trough decline | -7.55% | -46.17% | +38.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.02% | 3.97% | -0.95% |
Volatility
VEGN vs. DBC - Volatility Comparison
US Vegan Climate ETF (VEGN) has a higher volatility of 9.16% compared to Invesco DB Commodity Index Tracking Fund (DBC) at 4.60%. This indicates that VEGN's price experiences larger fluctuations and is considered to be riskier 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
| VEGN | DBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.16% | 4.60% | +4.56% |
Volatility (6M)Calculated over the trailing 6-month period | 15.32% | 16.16% | -0.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.01% | 18.75% | -0.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.57% | 19.20% | +1.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.90% | 17.81% | +5.09% |
VEGN vs. DBC - Expense Ratio Comparison
VEGN has a 0.60% expense ratio, which is lower than DBC's 0.85% expense ratio.
Dividends
VEGN vs. DBC - Dividend Comparison
VEGN's dividend yield for the trailing twelve months is around 0.48%, less than DBC's 2.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBC Invesco DB Commodity Index Tracking Fund | 2.72% | 3.33% | 5.22% | 4.94% | 0.59% | 0.00% | 0.00% | 1.59% | 1.30% |
VEGN US Vegan Climate ETF | 0.48% | 0.51% | 0.51% | 0.67% | 0.81% | 0.41% | 0.71% | 0.29% | 0.00% |
Frequently Asked Questions
VEGN and DBC have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VEGN has higher volatility (9.16%) compared to DBC (4.60%). In terms of maximum drawdown, VEGN dropped -34.14% vs DBC's -76.36%.
On 5-year performance, VEGN leads with 16.68% vs 10.64% for DBC. On fees, VEGN is cheaper at 0.60% per year. On volatility, DBC has been the lower-risk option at 4.60%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, VEGN has performed better with a 16.68% return vs 10.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VEGN is cheaper with a 0.60% expense ratio, compared with 0.85% for DBC.
DBC has the higher dividend yield at 2.72%, compared with 0.48% for VEGN.
VEGN is categorized as Large Cap Growth Equities, while DBC is Commodities. VEGN tracks US Vegan Climate Index, while DBC tracks DBIQ Optimum Yield Diversified Commodity Index Excess Return. They also come from different issuers: Beyond Investing and Invesco. Their fees differ too: 0.60% for VEGN and 0.85% for DBC.
VEGN currently has the higher Sharpe Ratio (3.00 vs 1.17), 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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