VOOG vs. DBC
VOOG (Vanguard S&P 500 Growth ETF) and DBC (Invesco DB Commodity Index Tracking Fund) are both exchange-traded funds - VOOG is a S&P 500 fund tracking the S&P 500 Growth Index, while DBC is a Commodities fund tracking the DBIQ Optimum Yield Diversified Commodity Index Excess Return. Both are passively managed. Over the past 10 years, VOOG returned 17.86%/yr vs 8.27%/yr for DBC. At a 0.26 correlation, their price movements are largely independent. VOOG charges 0.07%/yr vs 0.85%/yr for DBC.
Performance
VOOG vs. DBC - Performance Comparison
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Returns By Period
In the year-to-date period, VOOG achieves a 9.67% return, which is significantly lower than DBC's 27.68% return. Over the past 10 years, VOOG has outperformed DBC with an annualized return of 17.86%, while DBC has yielded a comparatively lower 8.27% annualized return.
VOOG
- 1D
- 0.38%
- 1M
- -1.27%
- YTD
- 9.67%
- 6M
- 10.61%
- 1Y
- 29.13%
- 3Y*
- 25.78%
- 5Y*
- 14.86%
- 10Y*
- 17.86%
DBC
- 1D
- -1.04%
- 1M
- -8.46%
- YTD
- 27.68%
- 6M
- 28.76%
- 1Y
- 30.29%
- 3Y*
- 12.92%
- 5Y*
- 11.29%
- 10Y*
- 8.27%
VOOG vs. DBC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VOOG Vanguard S&P 500 Growth ETF | 9.67% | 22.11% | 35.89% | 29.96% | -29.48% | 31.95% | 33.35% | 30.93% | -0.21% | 27.19% |
DBC Invesco DB Commodity Index Tracking Fund | 27.68% | 8.10% | 2.18% | -6.19% | 19.34% | 41.36% | -7.84% | 11.84% | -11.63% | 4.86% |
Correlation
The correlation between VOOG and DBC is -0.15, 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 | -0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010 | 0.26 |
The correlation between VOOG and DBC shifts across timeframes, from -0.15 (1 year) to 0.26 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
VOOG vs. DBC — Risk / Return Rank
VOOG
DBC
VOOG vs. DBC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P 500 Growth ETF (VOOG) 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.
| VOOG | DBC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.15 | ||
| Sortino ratioReturn per unit of downside risk | -0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.32 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.02 | 3.48 | -1.46 |
| Martin ratioReturn relative to average drawdown | 8.11 | 9.64 | -1.53 |
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Drawdowns
VOOG vs. DBC - Drawdown Comparison
The maximum VOOG drawdown since its inception was -32.73%, smaller than the maximum DBC drawdown of -76.36%. Use the drawdown chart below to compare losses from any high point for VOOG and DBC.
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Drawdown Indicators
| VOOG | DBC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.73% | -76.36% | +43.63% |
Max Drawdown (1Y)Largest decline over 1 year | -13.71% | -9.91% | -3.80% |
Max Drawdown (3Y)Largest decline over 3 years | -22.18% | -13.82% | -8.36% |
Max Drawdown (5Y)Largest decline over 5 years | -32.73% | -27.34% | -5.39% |
Max Drawdown (10Y)Largest decline over 10 years | -32.73% | -41.71% | +8.98% |
Current DrawdownCurrent decline from peak | -4.65% | -26.14% | +21.49% |
Average DrawdownAverage peak-to-trough decline | -4.97% | -46.19% | +41.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.40% | 3.57% | -0.17% |
Volatility
VOOG vs. DBC - Volatility Comparison
Vanguard S&P 500 Growth ETF (VOOG) has a higher volatility of 6.29% compared to Invesco DB Commodity Index Tracking Fund (DBC) at 5.20%. This indicates that VOOG'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
| VOOG | DBC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.29% | 5.20% | +1.09% |
Volatility (6M)Calculated over the trailing 6-month period | 13.43% | 16.11% | -2.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.60% | 18.94% | -2.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.29% | 19.22% | +2.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.78% | 17.82% | +2.96% |
VOOG vs. DBC - Expense Ratio Comparison
VOOG has a 0.07% expense ratio, which is lower than DBC's 0.85% expense ratio.
Dividends
VOOG vs. DBC - Dividend Comparison
VOOG's dividend yield for the trailing twelve months is around 0.45%, less than DBC's 2.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBC Invesco DB Commodity Index Tracking Fund | 2.61% | 3.33% | 5.22% | 4.94% | 0.59% | 0.00% | 0.00% | 1.59% | 1.30% | 0.00% | 0.00% | 0.00% |
VOOG Vanguard S&P 500 Growth ETF | 0.45% | 0.49% | 0.49% | 1.12% | 0.93% | 0.53% | 0.88% | 1.26% | 1.34% | 1.32% | 1.47% | 1.56% |
Frequently Asked Questions
VOOG and DBC have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VOOG has higher volatility (6.29%) compared to DBC (5.20%). In terms of maximum drawdown, VOOG dropped -32.73% vs DBC's -76.36%.
On 10-year performance, VOOG leads with 17.86% vs 8.27% for DBC. On fees, VOOG is cheaper at 0.07% per year. On volatility, DBC has been the lower-risk option at 5.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VOOG has performed better with a 17.86% return vs 8.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VOOG is cheaper with a 0.07% expense ratio, compared with 0.85% for DBC.
DBC has the higher dividend yield at 2.61%, compared with 0.45% for VOOG.
VOOG is categorized as S&P 500, while DBC is Commodities. VOOG tracks S&P 500 Growth Index, while DBC tracks DBIQ Optimum Yield Diversified Commodity Index Excess Return. They also come from different issuers: Vanguard and Invesco. Their fees differ too: 0.07% for VOOG and 0.85% for DBC.
DBC currently has the higher Sharpe Ratio (1.82 vs 1.67), 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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