DBC vs SPY
Comparison between Invesco DB Commodity Index Tracking Fund (DBC, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceSPY has outperformed DBC, delivering a return of +13.3% compared to +13.2%
DBC vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
DBC
$1.70B
Winner
SPY
$652B
Expense Ratio
DBC
0.85%
Winner
SPY
0.09%
Max Drawdown
DBC
77.39%
Winner
SPY
56.47%
Sharpe Ratio
Winner
DBC
2.17
SPY
2.07
5Y Beta
Winner
DBC
0.16
SPY
1.00
P/E Ratio
DBC
N/A
SPY
28.24
Forward P/E
DBC
N/A
SPY
21.85
5Y Dividends CAGR
Winner
DBC
48.91%
SPY
5.43%
5Y EPS CAGR
DBC
N/A
SPY
25.79%
Debt to Equity
DBC
N/A
SPY
22.35%
P/S Ratio
DBC
N/A
SPY
3.55
P/B Ratio
DBC
N/A
SPY
5.29
DBC vs SPY - Holdings Comparison
DBC and SPY have 1 common holdings. Overlap is 0.00%
DBC's top 25 holdings weight is 96.41%. SPY's top 25 holdings weight is 51.32%.
| Rank | DBC | SPY |
|---|---|---|
| #1 | INVESCO SHRT-TRM INV GOV&AGCY INSTL (AGPXX) - 40.22% | NVIDIA CORP (NVDA) - 8.45% |
| #2 | BRENT CRUDE FUTURE JULY 26 (n/a) - 9.04% | APPLE INC (AAPL) - 6.48% |
| #3 | CRUDE OIL FUTURE SEPT 26 (n/a) - 7.55% | MICROSOFT CORP (MSFT) - 5.20% |
| #4 | INVESCO SHORT TERM TREASURY ETF (TBLL) - 6.11% | AMAZON.COM INC (AMZN) - 4.14% |
| #5 | GOLD FUTURE DEC 26 (n/a) - 5.46% | ALPHABET INC CLASS A (GOOGL) - 3.32% |
| #6 | LOW SU GASOIL G JUN26 (n/a) - 3.79% | BROADCOM INC (AVGO) - 3.09% |
| #7 | NY HARBOR ULSD FUTURE JUNE 26 (n/a) - 2.49% | ALPHABET INC CLASS C (GOOG) - 2.65% |
| #8 | LME PRI ALUM FUTR DEC26 (n/a) - 1.83% | META PLATFORMS INC CLASS A (META) - 2.40% |
| #9 | LIVE CATTLE FUTURE AUG 26 (n/a) - 1.82% | TESLA INC (TSLA) - 1.73% |
| #10 | CORN FUTURE SEPT 26 (n/a) - 1.82% | BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.43% |
| #11 | MINI IBOVESPA FUTURE DEC 26 (n/a) - 1.70% | JPMORGAN CHASE & CO (JPM) - 1.37% |
| #12 | FUTURE ON SOYBEAN (n/a) - 1.67% | ELI LILLY AND CO (LLY) - 1.13% |
| #13 | COPPER FUTURE MAR 27 (n/a) - 1.43% | EXXON MOBIL CORP (XOM) - 1.03% |
| #14 | LEAN HOG FUTURE OCT 26 (n/a) - 1.37% | MICRON TECHNOLOGY INC (MU) - 0.93% |
| #15 | COPPER FUTURE JULY 26 (n/a) - 1.36% | WALMART INC (WMT) - 0.91% |
| #16 | SILVER FUTURE DEC 26 (n/a) - 1.35% | JOHNSON & JOHNSON (JNJ) - 0.90% |
| #17 | HENRY HUB NATURAL GAS MAR27 (n/a) - 1.33% | ADVANCED MICRO DEVICES INC (AMD) - 0.86% |
| #18 | FUTURE ON WHEAT (n/a) - 0.90% | VISA INC CLASS A (V) - 0.85% |
| #19 | FEEDER CATTLE FUTURE JAN 27 (n/a) - 0.89% | COSTCO WHOLESALE CORP (COST) - 0.72% |
| #20 | SOYBEAN OIL FUTURE DEC 26 (n/a) - 0.83% | MASTERCARD INC CLASS A (MA) - 0.67% |
| #21 | FUTURE ON NICKEL (n/a) - 0.77% | INTEL CORP (INTC) - 0.65% |
| #22 | COTTON NO 2 FUTURE DEC 26 (n/a) - 0.72% | NETFLIX INC (NFLX) - 0.64% |
| #23 | KC HRW WHEAT FUTURE JULY 26 (n/a) - 0.72% | CATERPILLAR INC (CAT) - 0.62% |
| #24 | SUGAR NO 11 FUTURE JULY 26 (n/a) - 0.64% | CHEVRON CORP (CVX) - 0.58% |
| #25 | SOYBEAN MEAL FUTURE JULY 26 (n/a) - 0.60% | PROCTER & GAMBLE CO (PG) - 0.57% |
| Total Holdings | 30 | 505 |
DBC vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
DBC
+6.09%
Winner
SPY
+9.11%
3M
Winner
DBC
+24.95%
SPY
+6.59%
6M
Winner
DBC
+36.71%
SPY
+10.56%
1Y
Winner
DBC
+49.37%
SPY
+32.04%
5Y(CAGR)
DBC
+13.18%
Winner
SPY
+13.35%
10Y(CAGR)
DBC
+10.00%
Winner
SPY
+15.49%
Max(CAGR)
DBC
+2.28%
Winner
SPY
+8.50%
DBC vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | DBC | SPY |
|---|---|---|
| 2026 | +35.33% | +8.27% |
| 2025 | +7.01% | +18.00% |
| 2024 | +3.02% | +25.59% |
| 2023 | -3.93% | +26.72% |
| 2022 | +18.88% | -18.64% |
| 2021 | +42.13% | +30.52% |
| 2020 | -7.95% | +17.28% |
| 2019 | +11.53% | +31.09% |
| 2018 | -12.04% | -5.24% |
| 2017 | +6.13% | +20.78% |
| 2016 | +19.46% | +13.59% |
| 2015 | -26.71% | +1.31% |
| 2014 | -27.05% | +14.56% |
| 2013 | -7.96% | +29.00% |
| 2012 | +0.51% | +14.17% |
| 2011 | -3.00% | +0.85% |
| 2010 | +9.15% | +13.14% |
| 2009 | +12.27% | +22.67% |
| 2008 | -33.60% | -36.25% |
| 2007 | +35.91% | +5.32% |
| 2006 | +4.10% | +13.85% |
| 2005 | N/A | +5.32% |
| 2004 | N/A | +10.75% |
| 2003 | N/A | +24.18% |
| 2002 | N/A | -22.42% |
| 2001 | N/A | -10.13% |
| 2000 | N/A | -8.84% |
| 1999 | N/A | +8.61% |
DBC vs SPY Drawdown Comparison
The maximum drawdown for DBC was -76.35%, occurring on Apr 27, 2020. This drawdown has not yet recovered.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current DBC drawdown is -21.62%.
| Rank | DBC | SPY |
|---|---|---|
| #1 | -76.35% Jul 2, 2008 - Apr 27, 2020 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -14.37% May 11, 2006 - Jun 14, 2007 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -10.01% Mar 13, 2008 - Apr 16, 2008 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -7.81% Feb 6, 2006 - Apr 6, 2006 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -6.68% May 21, 2008 - Jun 9, 2008 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -6.00% Jan 3, 2008 - Feb 8, 2008 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -5.59% Jun 15, 2007 - Sep 17, 2007 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -5.41% Apr 22, 2008 - May 6, 2008 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -4.82% Nov 6, 2007 - Nov 23, 2007 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -4.20% Nov 23, 2007 - Dec 12, 2007 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -3.65% Sep 27, 2007 - Oct 15, 2007 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -3.60% Apr 21, 2006 - May 2, 2006 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -2.98% May 2, 2006 - May 10, 2006 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -2.76% May 9, 2008 - May 20, 2008 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -2.64% Dec 12, 2007 - Dec 26, 2007 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between DBC and SPY is 0.01 which considered as a very weak or no correlation - the stocks move independently of each other.
0.01
-101
Dividend Comparison (1999 - 2026)
DBC vs SPY dividend yield comparison.
| Year | DBC | SPY |
|---|---|---|
| 2026 | 0.00% | 0.24% |
| 2025 | 3.33% | 1.07% |
| 2024 | 5.22% | 1.21% |
| 2023 | 4.94% | 1.40% |
| 2022 | 0.59% | 1.65% |
| 2021 | 0.00% | 1.20% |
| 2020 | 0.00% | 1.52% |
| 2019 | 1.59% | 1.75% |
| 2018 | 1.30% | 2.04% |
| 2017 | 0.00% | 1.80% |
| 2016 | 0.00% | 2.03% |
| 2015 | 0.00% | 2.06% |
| 2014 | 0.00% | 1.87% |
| 2013 | 0.00% | 1.81% |
| 2012 | 0.00% | 2.18% |
| 2011 | 0.00% | 2.05% |
| 2010 | 0.00% | 1.80% |
| 2009 | 0.00% | 1.95% |
| 2008 | 1.60% | 3.02% |
| 2007 | 2.41% | 1.85% |
| 2006 | 2.48% | 1.73% |
| 2005 | 0.00% | 1.73% |
| 2004 | 0.00% | 1.82% |
| 2003 | 0.00% | 1.47% |
| 2002 | 0.00% | 1.70% |
| 2001 | 0.00% | 1.25% |
| 2000 | 0.00% | 1.15% |
| 1999 | 0.00% | 0.24% |
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