DBC — Invesco DB Commodity Index Tracking Fund

DBC Price Performance — Growth of $10,000

Value of a $10,000 investment in DBC over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

DBC Drawdown

The "underwater" chart: DBC's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The Invesco DB Commodity Index Tracking Fund, identified by the ticker DBC, operates within the Commodities category managed by issuer Invesco. With assets under management totaling $1.58 billion and a share price of $28.60, the fund represents a significant presence among the 22 ETFs tracked in its specific category. It currently holds an overall rank of #189 out of 458 tracked ETFs across all categories, earning an ETFValuer grade of C with a score of 63.3 out of 100. Investors in this fund face an annual expense ratio of 0.85% while receiving a dividend yield of 2.56%. The combination of a moderate asset base and a mid-tier ranking suggests a specific level of investor adoption relative to the broader market. These metrics collectively define the fund's structural profile and cost-to-income characteristics for potential holders.

Recent price action shows a decline of 1.41% over the last day and a further drop of 1.85% over the past week. Despite these short-term losses, the fund posted a robust 6.20% gain over the last month, followed by a contraction of 4.22% in the three-month period. The six-month horizon demonstrates strong momentum with a return of 18.28%, which accelerated significantly to a year-to-date gain of 27.74%. This upward trajectory continued over the full year, resulting in a 31.98% return, and extended further to a 33.08% gain over the three-year timeframe. The data indicates a pattern where short-term volatility has been overshadowed by substantial long-term appreciation. This divergence between recent weekly declines and multi-year gains highlights the fund's cyclical performance characteristics.

The fund carries a Moderate volatility label and exhibits a beta of 1.05, indicating that its price movements tend to align closely with or slightly exceed broader market fluctuations. A Sharpe ratio of 1.38 suggests that the fund has generated a favorable amount of excess return relative to the risk taken over the measured period. However, the maximum drawdown of -16.54% reveals the extent of potential peak-to-trough decline during adverse market conditions. This combination of moderate volatility and a beta near unity implies the fund moves in tandem with commodity cycles while offering a risk-adjusted return profile that has historically compensated investors. The recorded drawdown serves as a reminder of the capital preservation challenges inherent in this asset class despite the strong long-term returns.

AI-generated summary based on the data on this page.

Market Backdrop

10-Year Treasury Yield: 4.65% (as of 2026-07-27) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 18.67 (as of 2026-07-27) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

DBC Liquidity, Domicile & Tax Treatment

Liquidity: Quoted bid/ask spread is 13.05% and average daily volume is 1.2M/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $1.58B provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: DBC is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

DBC Performance History

How DBC Compares to Other Commodities ETFs