Invesco DB Commodity Tracking (DBC) to EUR: Historical Returns

Simulation Settings

Category: Commodities

Period: August 1953 - May 2025 (~72 years)
Consolidated Returns as of 31 May 2025

Initial Amount: 1€

Currency: EUR

DBC is not denominated in EUR. Returns are simulated using exchange rates or interest rate differentials in case of currency hedging.

Inflation: Eurozone

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Results

30 Years
(1995/06 - 2025/05)

All Data
(1953/08 - 2025/05)

Inflation Adjusted:

Invesco DB Commodity Tracking (DBC)

1.00€
Invested Capital
June 1995
3.66€
Final Capital
May 2025
4.42%
Yearly Return
17.76%
Std Deviation
-63.38%
Max Drawdown
203months*
Recovery Period
* in progress

1.00€
Invested Capital
June 1995
1.99€
Final Capital
May 2025
2.33%
Yearly Return
17.76%
Std Deviation
-67.95%
Max Drawdown
203months*
Recovery Period
* in progress

1.00€
Invested Capital
August 1953
59.10€
Final Capital
May 2025
5.84%
Yearly Return
16.59%
Std Deviation
-63.38%
Max Drawdown
203months*
Recovery Period
* in progress

1.00€
Invested Capital
August 1953
8.91€
Final Capital
May 2025
3.09%
Yearly Return
16.59%
Std Deviation
-67.95%
Max Drawdown
203months*
Recovery Period
* in progress

This portfolio is built with ETFs not denominated in EUR. Returns are calculated using exchange rates or, if applicable, interest rate differentials for currency hedging.

The Invesco DB Commodity Tracking (DBC) to EUR ETF covers to the following investment themes:

Asset Class: Commodity
Commodity: Broad Diversified

As of May 2025, in the previous 30 Years, the Invesco DB Commodity Tracking (DBC) to EUR ETF obtained a 4.42% compound annual return, with a 17.76% standard deviation. It suffered a maximum drawdown of -63.38% which has been ongoing for 203 months and is still in progress.

Disclaimer: The simulations on this website are provided in good faith but should NOT be taken as investment advice. We are not liable for any errors or actions based on this information. The authors of the website are not affiliated with the ETFs/Assets issuers. Content is for informational, educational, illustrative and entertainment purposes only.

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Investment Returns as of May 31, 2025

Returns are calculated in EUR, assuming:

no fees or capital gain taxes.
dividend reinvestment, when applicable.
for non-EUR assets, the adjustment for actual currency exchange rates.
the actual Eurozone Inflation rates.

INVESCO DB COMMODITY TRACKING (DBC) TO EUR ETF

Capital Growth

30 Years
(1995/06 - 2025/05)

All Data
(1953/08 - 2025/05)

Inflation Adjusted:

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		Initial Amount €	Final Amount €	Total Return (%)	Annualized (%)
	Invesco DB Commodity Tracking (DBC)	1 €	3.66 €	266.00%	4.42%
		Jun 1995	May 2025

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		Initial Amount €	Final Amount €	Total Return (%)	Annualized (%)
	Invesco DB Commodity Tracking (DBC)	1 €	1.99 €	99.45%	2.33%
		Jun 1995	May 2025

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		Initial Amount €	Final Amount €	Total Return (%)	Annualized (%)
	Invesco DB Commodity Tracking (DBC)	1 €	59.10 €	5 809.72%	5.84%
		Aug 1953	May 2025

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		Initial Amount €	Final Amount €	Total Return (%)	Annualized (%)
	Invesco DB Commodity Tracking (DBC)	1 €	8.91 €	790.68%	3.09%
		Aug 1953	May 2025

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	Chg (%)		Return (%)	Return (%) as of May 31, 2025
	1 Day	Time ET^(*)	---	YTD (5M)	1M	6M	1Y	5Y	10Y	30Y	MAX (~72Y)
Investment Return	---		---	-11.23	1.03	-8.34	-10.52	13.91	2.66	4.42	5.84
Eurozone Inflation Adjusted Return				-12.36	1.08	-9.83	-12.19	9.43	0.16	2.33	3.09
Returns over 1 year are annualized
(*) Eastern Time (ET - America/New York)
The live monthly return is calculated by assuming, for each asset, the weight defined by the base asset allocation.
Eurozone Inflation is updated to May 2025. Inflation (annualized) is 1Y: 1.90% , 5Y: 4.09% , 10Y: 2.49% , 30Y: 2.04%

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Investment Metrics as of May 31, 2025

Metrics are calculated based on monthly returns, assuming:

no fees or capital gain taxes.
dividend reinvestment, when applicable.
for non-EUR assets, the adjustment for actual currency exchange rates.
the actual Eurozone Inflation rates.

INVESCO DB COMMODITY TRACKING (DBC) TO EUR ETF

Advanced Metrics

1 August 1953 - 31 May 2025 (~72 years)

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	Metrics as of May 31, 2025
	YTD (5M)	1M	3M	6M	1Y	3Y	5Y	10Y	20Y	30Y	MAX (~72Y)
Investment Return (%)	-11.23	1.03	-13.82	-8.34	-10.52	-8.80	13.91	2.66	0.93	4.42	5.84
Growth of 1€	0.89	1.01	0.86	0.92	0.89	0.76	1.92	1.30	1.20	3.66	59.10
Infl. Adjusted Return (%)	-12.36	1.08	-14.79	-9.83	-12.19	-11.89	9.43	0.16	-1.15	2.33	3.09
Eurozone Inflation (%)	1.29	-0.05	1.14	1.65	1.90	3.51	4.09	2.49	2.10	2.04	2.67
Returns / Inflation rates over 1 year are annualized.
DRAWDOWN Inflation Adjusted: Inflation Adjusted:				Current	1Y	3Y	5Y	10Y	20Y	30Y	MAX
Deepest Drawdown Depth (%)				-25.09	-14.70	-24.92	-24.92	-36.64	-63.38	-63.38	-63.38
Start to Recovery (# months)				203*	3*	36*	36*	72	203*	203*	203*
Start (yyyy mm)					2025 03	2022 06	2022 06	2015 07	2008 07	2008 07	2008 07
Start to Bottom (# months)					2	35	35	58	142	142	142
Bottom (yyyy mm)					2025 04	2025 04	2025 04	2020 04	2020 04	2020 04	2020 04
Bottom to End (# months)					1	1	1	14	61	61	61
End (yyyy mm)					-	-	-	2021 06	-	-	-
Longest Drawdown Depth (%)					-7.80	same	same	same	same	same	same
Start to Recovery (# months)					7	same	same	same	same	same	same
Start (yyyy mm)					2024 07	2022 06	2022 06	2015 07	2008 07	2008 07	2008 07
Start to Bottom (# months)					3	35	35	58	142	142	142
Bottom (yyyy mm)					2024 09	2025 04	2025 04	2020 04	2020 04	2020 04	2020 04
Bottom to End (# months)					4	1	1	14	61	61	61
End (yyyy mm)					2025 01	-	-	2021 06	-	-	-
Longest negative period (# months)					12*	36*	39*	72	236*	273	273
Start (yyyy mm)					2024 06	2022 06	2022 03	2015 06	2005 10	1997 08	1997 08
End (yyyy mm)					2025 05	2025 05	2025 05	2021 05	2025 05	2020 04	2020 04
Annualized Return (%)					-10.52	-8.80	-1.36	-0.48	-0.04	-0.08	-0.08
Drawdowns / Negative periods marked with * are in progress
Deepest Drawdown Depth (%)				-46.31	-15.93	-32.33	-32.33	-39.54	-67.95	-67.95	-67.95
Start to Recovery (# months)				203*	4*	36*	36*	75	203*	203*	203*
Start (yyyy mm)					2025 02	2022 06	2022 06	2015 07	2008 07	2008 07	2008 07
Start to Bottom (# months)					3	35	35	58	142	142	142
Bottom (yyyy mm)					2025 04	2025 04	2025 04	2020 04	2020 04	2020 04	2020 04
Bottom to End (# months)					1	1	1	17	61	61	61
End (yyyy mm)					-	-	-	2021 09	-	-	-
Longest Drawdown Depth (%)					-7.82	same	same	same	same	same	-31.20
Start to Recovery (# months)					7	same	same	same	same	same	227
Start (yyyy mm)					2024 07	2022 06	2022 06	2015 07	2008 07	2008 07	1954 02
Start to Bottom (# months)					2	35	35	58	142	142	196
Bottom (yyyy mm)					2024 08	2025 04	2025 04	2020 04	2020 04	2020 04	1970 05
Bottom to End (# months)					5	1	1	17	61	61	31
End (yyyy mm)					2025 01	-	-	2021 09	-	-	1972 12
Longest negative period (# months)					12*	36*	44*	75	240*	299*	363
Start (yyyy mm)					2024 06	2022 06	2021 10	2015 06	2005 06	2000 07	1990 10
End (yyyy mm)					2025 05	2025 05	2025 05	2021 08	2025 05	2025 05	2020 12
Annualized Return (%)					-12.19	-11.89	-0.43	-0.54	-1.15	-0.14	-0.03
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS					1Y	3Y	5Y	10Y	20Y	30Y	MAX
Standard Deviation (%)					15.40	13.43	16.31	16.84	16.40	17.76	16.59
Sharpe Ratio					-0.99	-0.98	0.69	0.05	-0.04	0.12	0.10
Sortino Ratio					-1.16	-1.33	0.98	0.07	-0.05	0.17	0.15
Ulcer Index					6.63	15.95	12.47	16.68	35.90	31.33	22.21
Ratio: Return / Standard Deviation					-0.68	-0.66	0.85	0.16	0.06	0.25	0.35
Ratio: Return / Deepest Drawdown					-0.72	-0.35	0.56	0.07	0.01	0.07	0.09
Positive Months (%)					58.33	47.22	61.66	55.83	53.75	54.16	53.71
Positive Months					7	17	37	67	129	195	463
Negative Months					5	19	23	53	111	165	399
LONG TERM RETURNS Inflation Adjusted: Inflation Adjusted:					1Y	3Y	5Y	10Y	20Y	30Y	MAX
Best 10 Years Return (%) - Annualized								2.66	4.64	14.80	17.84
Worst 10 Years Return (%) - Annualized								2.66	-5.96	-5.96	-5.96
Best 10 Years Return (%) - Annualized								0.16	2.03	12.32	12.32
Worst 10 Years Return (%) - Annualized								0.16	-7.07	-7.07	-7.07
TIMEFRAMES Inflation Adjusted: Inflation Adjusted:		1M	3M	6M	1Y	3Y	5Y	10Y	20Y	30Y	MAX
··· As of May 2025 - Over the previous 30Y
Best Rolling Return (%) - Annualized					91.49	29.30	22.31	14.80	5.53	4.42
Worst Rolling Return (%) - Annualized					-42.38	-18.16	-11.52	-5.96	-1.51	4.42
Positive Periods (%)					55.0	60.6	68.1	64.3	90.9	100.0
Best Rolling Return (%) - Annualized					87.86	24.63	19.82	12.32	3.66	2.33
Worst Rolling Return (%) - Annualized					-42.29	-18.25	-12.35	-7.07	-3.06	2.33
Positive Periods (%)					51.8	55.6	59.8	48.1	66.9	100.0
95% VaR - Value at Risk (%) - Cumulative		7.94	13.13	17.70	32.36	32.83	36.69	39.16	12.09
95% CVaR - Conditional Value at Risk (%)		10.07	16.82	22.92	37.44	38.02	40.91	41.48	21.75
99% VaR - Value at Risk (%) - Cumulative		11.44	19.18	26.26	39.85	43.56	44.61	44.27	26.26
99% CVaR - Conditional Value at Risk (%)		13.66	23.03	31.71	41.69	44.46	45.65	45.89	26.26
Short term VaRs: analytical \| 1+ year VaRs: historical data
Safe Withdrawal Rate (%)					65.83	21.34	13.29	5.64	4.04	6.34
Perpetual Withdrawal Rate (%)					---	---	---	---	---	3.16
% based on initial capital, inflation-adj. monthly withdrawals afterwards \| Credits: BestRetirementPortfolio.com
··· All available data (Aug 1953 - May 2025)
Best Rolling Return (%) - Annualized					91.49	50.62	32.30	17.84	15.46	13.14
Worst Rolling Return (%) - Annualized					-42.38	-18.16	-11.52	-5.96	-1.51	1.58
Positive Periods (%)					60.5	69.4	80.6	85.3	98.2	100.0
Best Rolling Return (%) - Annualized					87.86	41.32	24.88	12.32	11.11	9.42
Worst Rolling Return (%) - Annualized					-42.29	-18.25	-12.35	-7.07	-3.06	-0.28
Positive Periods (%)					53.4	56.3	62.3	68.5	93.5	99.6
95% VaR - Value at Risk (%) - Cumulative		7.29	11.88	15.77	21.64	22.85	27.13	30.93	0.00	0.00
95% CVaR - Conditional Value at Risk (%)		9.28	15.33	20.64	30.33	31.39	35.26	37.13	0.00	0.00
99% VaR - Value at Risk (%) - Cumulative		10.56	17.54	23.77	36.55	36.20	40.26	40.14	12.09	0.00
99% CVaR - Conditional Value at Risk (%)		12.63	21.13	28.86	39.53	41.48	43.52	42.85	21.75	0.00
Short term VaRs: analytical \| 1+ year VaRs: historical data
Safe Withdrawal Rate (%)					65.83	21.34	13.29	5.64	4.04	3.50
Perpetual Withdrawal Rate (%)					---	---	---	---	---	---
% based on initial capital, inflation-adj. monthly withdrawals afterwards \| Credits: BestRetirementPortfolio.com

Terms and Definitions

Annualized Portfolio Return: it's the annualized geometric mean return of the portfolio.
Deepest/Longest Drawdown: a drawdown refers to the decline in value from a relative peak value to a relative trough. The deepest (or maximum) drawdown is the maximum observed loss from a peak to a trough of a portfolio before a new peak is attained. The longest drawdown is the period observed from a peak to the subsequent peak with the greatest duration. When cashflows are involved, portfolio values are normalized by the invested capital at each time step. This isolates the effect of market performance from capital contributions, avoiding misleading drawdowns caused by large inflows that artificially lift the portfolio value.
Longest negative period: it's the maximum period for which an overall negative return has been observed.
Standard Deviation: it's a measure of the dispersion of returns around the mean.
Sharpe Ratio: it's a measure of risk-adjusted performance of the portfolio. It's calculated by dividing the excess return of the portfolio over the risk-free rate by the portfolio standard deviation. The risk-free rate here considered is the 1-3 Mth T-Bill return.
Sortino Ratio: another measure of risk-adjusted performance of the portfolio. It's a modification of the Sharpe Ratio (same formula but the denominator is the portfolio downside standard deviation).
Ulcer Index: it's a measure of downside risk that quantifies the depth and duration of drawdowns in an investment portfolio.
Best/Worst 10Y returns: the best and the worst 10-year return over a time frame.
Rolling Returns: N-year returns over a time frame, calculated over all the available data source (best, worst, % of positive returns). Each rolling period, longer than the longest negative period, yielded a non-negative minimum return.
Value at Risk (VaR): it's an evaluation of a cumulative worst-case loss (in absolute value), associated with a probability (95%-99%) and a time horizon. For short term, it's calculated based on the expected return and standard deviation, assuming a normal distribution of monthly returns. For long term is retrieved by the historical rolling return data.
Conditional Value at Risk (CVaR): it represents the average expected loss if that worst-case threshold (95%-99%) is ever crossed.
Safe Withdrawal Rate (SWR): it's the percentage of the initial portfolio balance that can be withdrawn at the beginning of each month with inflation adjustment, without the portfolio running out of money in any case (money amount withdrawal).
For instance: Your initial invested capital is 100.000$; withdrawal rate (annualized) is 4%. This means that, in the first month, you will withdraw 100.000 * 4% * 1/12 = 333.33$. The second month, you’ll withdraw 333.33$ plus the inflation monthly rate. You’ll continue adjusting your withdraw monthly for inflation.
Perpetual Withdrawal Rate (PWR): it's the percentage of the initial portfolio balance that can be withdrawn at the beginning of each month with inflation adjustment, preserving the original invested capital, adjusted for inflation too.

Drawdowns

A drawdown refers to the decline in value from a relative peak value to a relative trough. A maximum drawdown is the maximum observed loss from a peak to a trough of a portfolio before a new peak is attained.

INVESCO DB COMMODITY TRACKING (DBC) TO EUR ETF

Drawdown periods

Drawdown periods - Inflation Adjusted

1 June 1995 - 31 May 2025 (30 Years)

1 August 1953 - 31 May 2025 (~72 years)

30 Years
(1995/06 - 2025/05)

All Data
(1953/08 - 2025/05)

Inflation Adjusted:

Chart Table Range

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Rolling Returns

For a detailed rolling return analysis, click here
Invesco DB Commodity Tracking (DBC) to EUR ETF: Rolling Returns

A rolling return is a measure of investment performance that calculates the return of an investment over a set period of time, with the starting date rolling forward. This approach can provide a more accurate representation of the investment's historical performance and helps investors to evaluate the investment's consistency over time.

INVESCO DB COMMODITY TRACKING (DBC) TO EUR ETF

Annualized Rolling Returns

Annualized Rolling Returns - Inflation Adjusted

1 June 1995 - 31 May 2025 (30 Years)

1 August 1953 - 31 May 2025 (~72 years)

30 Years
(1995/06 - 2025/05)

All Data
(1953/08 - 2025/05)

Inflation Adjusted:

Return Chart Capital Chart Table

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The values shown for the rolling periods represent key statistical points: the minimum, maximum, median, and the 15th and 85th percentiles. These percentiles give insight into the distribution of the data, indicating the range within which the central 70% of the values lie, while the median represents the middle value.

Seasonality

In which months is it better to invest in Invesco DB Commodity Tracking (DBC) to EUR ETF?

Both the Average Return and the Gain Frequency (Win %) are useful to get an idea of what happened in the past. They are retrieved considering the time period from August 1953 to May 2025.

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For further information about the seasonality, check the Asset Class Seasonality page.

Monthly Returns

This section provides a visual/tabular representation of the performance variability in the Invesco DB Commodity Tracking (DBC) to EUR ETF over time. It illustrates the distribution of monthly returns, showcasing the range and frequency of positive and negative returns.

INVESCO DB COMMODITY TRACKING (DBC) TO EUR ETF

Monthly Returns Distribution

1 June 1995 - 31 May 2025 (30 Years)

1 August 1953 - 31 May 2025 (~72 years)

195 Positive Months (54%) - 165 Negative Months (46%)

463 Positive Months (54%) - 399 Negative Months (46%)

30 Years
(1995/06 - 2025/05)

All Data
(1953/08 - 2025/05)

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Methodology

Returns, up to December 2006, have been derived using the historical series of equivalent ETFs / Assets.
You can find additional information on extended Data Sources here.

For non-EUR assets, returns are calculated based on the performance of the original asset, adjusted for actual currency exchange rates.

Table of contents

Resources & Extras

Investment Returns as of May 31, 2025

Investment Metrics as of May 31, 2025

Drawdowns

Rolling Returns

Seasonality

Monthly Returns