Invesco DB Commodity Tracking (DBC): Historical Returns

Data Source: from January 1871 to January 2024 (~153 years)
Consolidated Returns as of 31 January 2024
Live Update: Feb 27 2024, 02:55PM Eastern Time
Category: Commodities
Invesco DB Commodity Tracking (DBC) ETF
ETF • LIVE PERFORMANCE (USD currency)
0.80%
1 Day
Feb 27 2024, 02:55PM Eastern Time
0.96%
Current Month
February 2024

In the last 30 Years, the Invesco DB Commodity Tracking (DBC) ETF obtained a 3.97% compound annual return, with a 18.80% standard deviation.

Table of contents
The first official book of
How to build wealth
with Lazy Portfolios and Passive Investing Strategies
Choose a goal
Employ the best metrics to evaluate it
Join the passive investing strategy
Discover new asset allocations in USD and EUR,
in addition to the lazy portfolios on the website.

The ETF is related to the following investment themes:

  • Asset Class: Commodity
  • Commodity: Broad Diversified

The Invesco DB Commodity Tracking (DBC) ETF is part of the following Lazy Portfolios:

Portfolio Name Author DBC Weight Currency
Five Asset Roger Gibson 20.00% USD
Rob Arnott Portfolio Rob Arnott 10.00% USD
All Weather Portfolio Ray Dalio 7.50% USD
All Weather Portfolio with Bitcoin Ray Dalio 6.50% USD

Investment Returns as of Jan 31, 2024

The Invesco DB Commodity Tracking (DBC) ETF guaranteed the following returns.

Returns are calculated in USD, assuming:
  • no fees or capital gain taxes.
  • the reinvestment of dividends.
  • the actual US Inflation rates.
INVESCO DB COMMODITY TRACKING (DBC) ETF
Consolidated returns as of 31 January 2024
Live Update: Feb 27 2024, 02:55PM Eastern Time
Swipe left to see all data
  Chg (%) Return (%) Return (%) as of Jan 31, 2024
  1 Day Time ET(*) Feb 2024 1M 6M 1Y 5Y 10Y 30Y MAX
(~153Y)
Invesco DB Commodity Tracking (DBC) ETF 0.80 -0.96 1.32 -5.11 -5.83 9.05 -0.25 3.97 2.60
US Inflation Adjusted return 1.01 -6.66 -8.67 4.70 -2.96 1.41 0.47
Returns over 1 year are annualized | Available data source: since Jan 1871
(*) Eastern Time (ET - America/New York)
US Inflation is updated to Jan 2024. Current inflation (annualized) is 1Y: 3.11% , 5Y: 4.16% , 10Y: 2.79% , 30Y: 2.53%

In 2023, the Invesco DB Commodity Tracking (DBC) ETF granted a 4.42% dividend yield. If you are interested in getting periodic income, please refer to the Invesco DB Commodity Tracking (DBC) ETF: Dividend Yield page.

Capital Growth as of Jan 31, 2024

An investment of 1$, since February 1994, now would be worth 3.22$, with a total return of 221.97% (3.97% annualized).

The Inflation Adjusted Capital now would be 1.52$, with a net total return of 52.10% (1.41% annualized).
An investment of 1$, since January 1871, now would be worth 51.00$, with a total return of 4999.72% (2.60% annualized).

The Inflation Adjusted Capital now would be 2.05$, with a net total return of 105.49% (0.47% annualized).

Investment Metrics as of Jan 31, 2024

Metrics of Invesco DB Commodity Tracking (DBC) ETF, updated as of 31 January 2024.

Metrics are calculated based on monthly returns, assuming:
  • no fees or capital gain taxes.
  • the reinvestment of dividends.
  • the actual US Inflation rates.
INVESCO DB COMMODITY TRACKING (DBC) ETF
Advanced Metrics
Data Source: 1 January 1871 - 31 January 2024 (~153 years)
Swipe left to see all data
Metrics as of Jan 31, 2024
1M 3M 6M 1Y 3Y 5Y 10Y 20Y 30Y MAX
(~153Y)
Investment Return (%) 1.32 -4.45 -5.11 -5.83 15.76 9.05 -0.25 1.55 3.97 2.60
Infl. Adjusted Return (%) details 1.01 -5.11 -6.66 -8.67 9.55 4.70 -2.96 -1.00 1.41 0.47
US Inflation (%) 0.31 0.70 1.66 3.11 5.66 4.16 2.79 2.57 2.53 2.12
Returns / Inflation rates over 1 year are annualized.
DRAWDOWN
Inflation Adjusted:
Inflation Adjusted:
1Y 3Y 5Y 10Y 20Y 30Y MAX
Deepest Drawdown Depth (%) -11.34 -22.97 -31.66 -57.79 -74.54 -74.54 -74.54
Start to Recovery (# months) details 8 20* 14 93 187* 187* 187*
Start (yyyy mm) 2023 02 2022 06 2020 01 2014 07 2008 07 2008 07 2008 07
Start to Bottom (# months) 4 12 4 70 142 142 142
Bottom (yyyy mm) 2023 05 2023 05 2020 04 2020 04 2020 04 2020 04 2020 04
Bottom to End (# months) 4 8 10 23 45 45 45
End (yyyy mm) 2023 09 - 2021 02 2022 03 - - -
Longest Drawdown Depth (%)
same as
deepest

same as
deepest
-22.97
same as
deepest

same as
deepest

same as
deepest
-62.15
Start to Recovery (# months) details 20* 660
Start (yyyy mm) 2023 02 2022 06 2022 06 2014 07 2008 07 2008 07 1918 01
Start to Bottom (# months) 4 12 12 70 142 142 169
Bottom (yyyy mm) 2023 05 2023 05 2023 05 2020 04 2020 04 2020 04 1932 01
Bottom to End (# months) 4 8 8 23 45 45 491
End (yyyy mm) 2023 09 - - 2022 03 - - 1972 12
Longest negative period (# months) details 12* 23* 24 120* 221* 281 1214
Period Start (yyyy mm) 2023 02 2022 03 2019 02 2014 02 2005 09 1996 12 1871 02
Period End (yyyy mm) 2024 01 2024 01 2021 01 2024 01 2024 01 2020 04 1972 03
Annualized Return (%) -5.83 -0.68 -0.28 -0.25 -0.04 -0.18 -0.01
Drawdowns / Negative periods marked with * are in progress
Deepest Drawdown Depth (%) -12.22 -26.02 -31.41 -60.90 -78.38 -78.38 -86.36
Start to Recovery (# months) details 12* 20* 22 115* 187* 187* 1128
Start (yyyy mm) 2023 02 2022 06 2019 05 2014 07 2008 07 2008 07 1896 10
Start to Bottom (# months) 4 12 12 70 142 142 884
Bottom (yyyy mm) 2023 05 2023 05 2020 04 2020 04 2020 04 2020 04 1970 05
Bottom to End (# months) 8 8 10 45 45 45 244
End (yyyy mm) - - 2021 02 - - - 1990 09
Longest Drawdown Depth (%)
same as
deepest

same as
deepest

same as
deepest

same as
deepest

same as
deepest

same as
deepest

same as
deepest
Start to Recovery (# months) details
Start (yyyy mm) 2023 02 2022 06 2019 05 2014 07 2008 07 2008 07 1896 10
Start to Bottom (# months) 4 12 12 70 142 142 884
Bottom (yyyy mm) 2023 05 2023 05 2020 04 2020 04 2020 04 2020 04 1970 05
Bottom to End (# months) 8 8 10 45 45 45 244
End (yyyy mm) - - 2021 02 - - - 1990 09
Longest negative period (# months) details 12* 27* 27* 120* 240* 321 1758
Period Start (yyyy mm) 2023 02 2021 11 2021 11 2014 02 2004 02 1994 02 1873 11
Period End (yyyy mm) 2024 01 2024 01 2024 01 2024 01 2024 01 2020 10 2020 04
Annualized Return (%) -8.67 -0.67 -0.67 -2.96 -1.00 -0.11 0.00
Drawdowns / Negative periods marked with * are in progress
RISK INDICATORS
1Y 3Y 5Y 10Y 20Y 30Y MAX
Standard Deviation (%) 12.98 17.06 18.68 17.45 18.78 18.80 12.44
Sharpe Ratio -0.84 0.79 0.39 -0.08 0.01 0.09 -0.11
Sortino Ratio -1.34 1.11 0.52 -0.11 0.02 0.13 -0.17
Ulcer Index 5.47 11.48 12.82 34.89 46.85 39.77 33.42
Ratio: Return / Standard Deviation -0.45 0.92 0.48 -0.01 0.08 0.21 0.21
Ratio: Return / Deepest Drawdown -0.51 0.69 0.29 0.00 0.02 0.05 0.03
% Positive Months details 33% 55% 55% 50% 51% 53% 81%
Positive Months 4 20 33 61 123 191 1499
Negative Months 8 16 27 59 117 169 338
LONG TERM RETURNS
Inflation Adjusted:
Inflation Adjusted:
1Y 3Y 5Y 10Y 20Y 30Y MAX
Best 10 Years Return (%) - Annualized -0.25 3.53 18.17 21.88
Worst 10 Years Return (%) - Annualized -8.73 -8.73 -8.73
Best 10 Years Return (%) - Annualized -2.96 1.20 14.79 14.79
Worst 10 Years Return (%) - Annualized -10.03 -10.03 -10.83
ROLLING PERIODS
Inflation Adjusted:
Inflation Adjusted:
1Y 3Y 5Y 10Y 20Y 30Y MAX
Over the latest 30Y
Best Rolling Return (%) - Annualized 78.58 31.81 25.40 18.17 6.60 3.97
Worst Rolling Return (%) - Annualized -48.67 -23.43 -15.57 -8.73 0.06
% Positive Periods 58% 62% 65% 55% 100% 100%
SWR - Safe Withdrawal Rate (%) - 100% Success - Annualized 57.78 18.85 11.57 4.46 4.53 4.85
PWR - Perpetual Withdrawal Rate (%) - 100% Success - Annualized - - - - - 1.66
WR calculated based on initial capital | Monthly withdrawals adjusted for inflation | Credits: BestRetirementPortfolio.com
Best Rolling Return (%) - Annualized 70.18 28.44 22.29 14.79 4.10 1.41
Worst Rolling Return (%) - Annualized -48.03 -24.08 -16.70 -10.03 -1.94
% Positive Periods 53% 56% 56% 53% 60% 100%
SWR - Safe Withdrawal Rate (%) - 100% Success - Annualized 57.78 18.85 11.57 4.46 4.53 4.85
PWR - Perpetual Withdrawal Rate (%) - 100% Success - Annualized - - - - - 1.66
WR calculated based on initial capital | Monthly withdrawals adjusted for inflation | Credits: BestRetirementPortfolio.com
Over all the available data source (Jan 1871 - Jan 2024)
Best Rolling Return (%) - Annualized 106.86 58.15 38.19 21.88 17.34 12.81
Worst Rolling Return (%) - Annualized -48.67 -23.43 -15.57 -8.73 -3.16 -1.80
% Positive Periods 55% 55% 59% 56% 63% 62%
SWR - Safe Withdrawal Rate (%) - 100% Success - Annualized 57.78 18.85 9.86 4.20 1.85 1.26
PWR - Perpetual Withdrawal Rate (%) - 100% Success - Annualized - - - - - -
WR calculated based on initial capital | Monthly withdrawals adjusted for inflation | Credits: BestRetirementPortfolio.com
Best Rolling Return (%) - Annualized 95.63 46.93 29.70 14.79 10.40 7.53
Worst Rolling Return (%) - Annualized -48.03 -27.11 -23.16 -10.83 -6.00 -4.20
% Positive Periods 49% 46% 44% 48% 53% 48%
SWR - Safe Withdrawal Rate (%) - 100% Success - Annualized 57.78 18.85 9.86 4.20 1.85 1.26
PWR - Perpetual Withdrawal Rate (%) - 100% Success - Annualized - - - - - -
WR calculated based on initial capital | Monthly withdrawals adjusted for inflation | 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.
  • 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.
  • 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.

Correlations as of Jan 31, 2024

Correlation measures to what degree the returns of the two assets move in relation to each other.

Correlation coefficient is a numerical value between -1 and +1. If one variable goes up by a certain amount, the correlation coefficient indicates which way the other variable moves and by how much.
Asset correlations are calculated based on monthly returns.

Monthly correlations of Invesco DB Commodity Tracking (DBC) ETF vs the main Asset Classes, over different timeframes. Columns are sortable (click on table header to sort).

INVESCO DB COMMODITY TRACKING (DBC) ETF
Monthly correlations as of 31 January 2024
Swipe left to see all data
Correlation vs DBC
Asset Class 1 Year 5 Years 10 Years 30 Years Since
Jan 1992
VTI
US Total Stock Market
0.14
0.48
0.43
0.34
0.33
SPY
US Large Cap
0.14
0.47
0.42
0.32
0.32
IJR
US Small Cap
0.10
0.55
0.47
0.37
0.36
VNQ
US REITs
0.05
0.43
0.25
0.26
0.26
QQQ
US Technology
-0.13
0.27
0.25
0.23
0.23
PFF
Preferred Stocks
0.18
0.31
0.26
0.23
0.22
EFA
EAFE Stocks
0.22
0.55
0.50
0.44
0.43
VT
World All Countries
0.20
0.53
0.49
0.40
0.40
EEM
Emerging Markets
0.37
0.51
0.48
0.40
0.38
VGK
Europe
0.18
0.57
0.51
0.40
0.39
VPL
Pacific
0.24
0.51
0.46
0.43
0.41
FLLA
Latin America
0.17
0.59
0.53
0.42
0.40
BND
US Total Bond Market
-0.05
-0.09
-0.10
0.03
0.04
TLT
Long Term Treasuries
-0.16
-0.35
-0.35
-0.17
-0.17
BIL
US Cash
0.13
-0.31
-0.12
0.02
0.02
TIP
TIPS
0.01
0.09
0.11
0.26
0.25
LQD
Invest. Grade Bonds
-0.01
0.09
0.09
0.13
0.13
HYG
High Yield Bonds
0.14
0.42
0.45
0.32
0.32
CWB
US Convertible Bonds
0.07
0.45
0.43
0.38
0.38
BNDX
International Bonds
-0.21
-0.11
-0.16
0.08
0.07
EMB
Emerg. Market Bonds
0.09
0.36
0.33
0.26
0.26
GLD
Gold
0.08
0.03
0.12
0.30
0.28

If you want to learn more about historical correlations, you can find out here how the main asset class are correlated to each other.

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) ETF
Drawdown periods
Drawdown periods - Inflation Adjusted
Data Source: 1 February 1994 - 31 January 2024 (30 Years)
Data Source: 1 January 1871 - 31 January 2024 (~153 years)
Inflation Adjusted:
Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months Ulcer Index
-74.54% Jul 2008 Apr 2020 142 in progress 45 187 53.00
-48.26% Nov 1997 Feb 1999 16 Jun 2000 16 32 30.21
-35.42% Dec 2000 Jan 2002 14 Jan 2003 12 26 19.75
-10.85% Mar 2003 Apr 2003 2 Oct 2003 6 8 6.12
-10.24% Aug 1994 Nov 1994 4 Nov 1995 12 16 6.31
-9.78% Dec 2006 Jan 2007 2 Sep 2007 8 10 4.83
-9.46% Oct 2005 Mar 2006 6 Nov 2006 8 14 5.66
-9.07% Jan 1997 Jun 1997 6 Oct 1997 4 10 4.96
-7.68% Jul 2000 Jul 2000 1 Aug 2000 1 2 4.43
-7.31% Apr 2004 Jun 2004 3 Sep 2004 3 6 4.51
-5.14% Nov 2004 Dec 2004 2 Feb 2005 2 4 3.08
-4.73% Jul 1996 Jul 1996 1 Sep 1996 2 3 2.51
-4.60% Apr 2005 May 2005 2 Aug 2005 3 5 2.82
-3.33% Feb 1994 Mar 1994 2 May 1994 2 4 1.81
-1.37% Sep 2000 Sep 2000 1 Nov 2000 2 3 0.89
Swipe left to see all data
Drawdown (DD)
Occurrencies (EOM)
Drawdown (DD)
Range #Num Every (Avg) Frequency Cumulative Frequency
All Time High (DD=0%) 40 9.0 Months 11.08%
 
DD = 0% 11.08%
 
0% < DD <= -5% 50 7.2 Months 13.85%
 
DD <= -5% 24.93%
 
-5% < DD <= -10% 34 10.6 Months 9.42%
 
DD <= -10% 34.35%
 
-10% < DD <= -15% 9 40.1 Months 2.49%
 
DD <= -15% 36.84%
 
-15% < DD <= -20% 9 40.1 Months 2.49%
 
DD <= -20% 39.34%
 
-20% < DD <= -25% 9 40.1 Months 2.49%
 
DD <= -25% 41.83%
 
-25% < DD <= -30% 9 40.1 Months 2.49%
 
DD <= -30% 44.32%
 
-30% < DD <= -35% 17 21.2 Months 4.71%
 
DD <= -35% 49.03%
 
-35% < DD <= -40% 27 13.4 Months 7.48%
 
DD <= -40% 56.51%
 
-40% < DD <= -45% 41 8.8 Months 11.36%
 
DD <= -45% 67.87%
 
-45% < DD <= -50% 22 16.4 Months 6.09%
 
DD <= -50% 73.96%
 
-50% < DD <= -55% 13 27.8 Months 3.60%
 
DD <= -55% 77.56%
 
-55% < DD <= -60% 13 27.8 Months 3.60%
 
DD <= -60% 81.16%
 
-60% < DD <= -65% 29 12.4 Months 8.03%
 
DD <= -65% 89.20%
 
-65% < DD <= -70% 32 11.3 Months 8.86%
 
DD <= -70% 98.06%
 
-70% < DD <= -100% 7 51.6 Months 1.94%
 
DD <= -100% 100.00%
 
Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months Ulcer Index
-78.38% Jul 2008 Apr 2020 142 in progress 45 187 58.07
-49.27% Nov 1997 Feb 1999 16 Aug 2000 18 34 30.78
-36.69% Dec 2000 Jan 2002 14 Feb 2003 13 27 20.94
-11.32% Oct 2005 Jan 2007 16 Sep 2007 8 24 6.71
-11.07% Aug 1994 Nov 1994 4 Dec 1995 13 17 7.51
-10.65% Mar 2003 Apr 2003 2 Oct 2003 6 8 6.13
-9.69% Jan 1997 Jun 1997 6 Oct 1997 4 10 5.41
-8.19% Apr 2004 Jun 2004 3 Sep 2004 3 6 5.11
-5.58% Nov 2004 Dec 2004 2 Feb 2005 2 4 3.38
-4.91% Jul 1996 Jul 1996 1 Sep 1996 2 3 2.65
-4.85% Apr 2005 May 2005 2 Aug 2005 3 5 3.08
-3.86% Feb 1994 Mar 1994 2 Jun 1994 3 5 1.95
-1.88% Sep 2000 Sep 2000 1 Nov 2000 2 3 1.31
-1.40% Nov 2007 Nov 2007 1 Dec 2007 1 2 0.81
-1.27% Mar 2008 Mar 2008 1 Apr 2008 1 2 0.73
Swipe left to see all data
Drawdown (DD)
Occurrencies (EOM)
Drawdown (DD)
Range #Num Every (Avg) Frequency Cumulative Frequency
All Time High (DD=0%) 35 10.3 Months 9.70%
 
DD = 0% 9.70%
 
0% < DD <= -5% 38 9.5 Months 10.53%
 
DD <= -5% 20.22%
 
-5% < DD <= -10% 43 8.4 Months 11.91%
 
DD <= -10% 32.13%
 
-10% < DD <= -15% 13 27.8 Months 3.60%
 
DD <= -15% 35.73%
 
-15% < DD <= -20% 12 30.1 Months 3.32%
 
DD <= -20% 39.06%
 
-20% < DD <= -25% 6 60.2 Months 1.66%
 
DD <= -25% 40.72%
 
-25% < DD <= -30% 11 32.8 Months 3.05%
 
DD <= -30% 43.77%
 
-30% < DD <= -35% 11 32.8 Months 3.05%
 
DD <= -35% 46.81%
 
-35% < DD <= -40% 19 19.0 Months 5.26%
 
DD <= -40% 52.08%
 
-40% < DD <= -45% 23 15.7 Months 6.37%
 
DD <= -45% 58.45%
 
-45% < DD <= -50% 31 11.6 Months 8.59%
 
DD <= -50% 67.04%
 
-50% < DD <= -55% 11 32.8 Months 3.05%
 
DD <= -55% 70.08%
 
-55% < DD <= -60% 17 21.2 Months 4.71%
 
DD <= -60% 74.79%
 
-60% < DD <= -65% 23 15.7 Months 6.37%
 
DD <= -65% 81.16%
 
-65% < DD <= -70% 38 9.5 Months 10.53%
 
DD <= -70% 91.69%
 
-70% < DD <= -100% 30 12.0 Months 8.31%
 
DD <= -100% 100.00%
 
Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months Ulcer Index
-74.54% Jul 2008 Apr 2020 142 in progress 45 187 53.00
-62.15% Jan 1918 Jan 1932 169 Dec 1972 491 660 43.48
-48.26% Nov 1997 Feb 1999 16 Jun 2000 16 32 30.21
-37.42% Dec 1974 Jul 1977 32 Jan 1979 18 50 24.76
-35.42% Dec 2000 Jan 2002 14 Jan 2003 12 26 19.75
-29.73% Nov 1980 Dec 1981 14 Oct 1985 46 60 15.79
-27.19% Jan 1875 Jan 1897 265 Jan 1916 228 493 18.22
-26.04% Oct 1990 Dec 1993 39 Mar 1996 27 66 17.34
-17.02% Feb 1974 May 1974 4 Jul 1974 2 6 9.25
-14.77% Feb 1980 Mar 1980 2 Jul 1980 4 6 7.50
-14.01% Dec 1985 Mar 1986 4 Nov 1986 8 12 8.40
-10.85% Mar 2003 Apr 2003 2 Oct 2003 6 8 6.12
-10.08% Sep 1973 Oct 1973 2 Dec 1973 2 4 5.58
-9.78% Dec 2006 Jan 2007 2 Sep 2007 8 10 4.83
-9.46% Oct 2005 Mar 2006 6 Nov 2006 8 14 5.66
Swipe left to see all data
Drawdown (DD)
Occurrencies (EOM)
Drawdown (DD)
Range #Num Every (Avg) Frequency Cumulative Frequency
All Time High (DD=0%) 157 11.7 Months 8.54%
 
DD = 0% 8.54%
 
0% < DD <= -5% 110 16.7 Months 5.98%
 
DD <= -5% 14.53%
 
-5% < DD <= -10% 86 21.4 Months 4.68%
 
DD <= -10% 19.21%
 
-10% < DD <= -15% 181 10.2 Months 9.85%
 
DD <= -15% 29.05%
 
-15% < DD <= -20% 188 9.8 Months 10.23%
 
DD <= -20% 39.28%
 
-20% < DD <= -25% 204 9.0 Months 11.10%
 
DD <= -25% 50.38%
 
-25% < DD <= -30% 75 24.5 Months 4.08%
 
DD <= -30% 54.46%
 
-30% < DD <= -35% 39 47.1 Months 2.12%
 
DD <= -35% 56.58%
 
-35% < DD <= -40% 113 16.3 Months 6.15%
 
DD <= -40% 62.73%
 
-40% < DD <= -45% 348 5.3 Months 18.93%
 
DD <= -45% 81.66%
 
-45% < DD <= -50% 171 10.7 Months 9.30%
 
DD <= -50% 90.97%
 
-50% < DD <= -55% 49 37.5 Months 2.67%
 
DD <= -55% 93.63%
 
-55% < DD <= -60% 25 73.5 Months 1.36%
 
DD <= -60% 94.99%
 
-60% < DD <= -65% 53 34.7 Months 2.88%
 
DD <= -65% 97.88%
 
-65% < DD <= -70% 32 57.4 Months 1.74%
 
DD <= -70% 99.62%
 
-70% < DD <= -100% 7 262.6 Months 0.38%
 
DD <= -100% 100.00%
 
Swipe left to see all data
Drawdown period
Recovery period
Total
Drawdown Start Bottom #Months End #Months #Months Ulcer Index
-86.36% Oct 1896 May 1970 884 Sep 1990 244 1128 61.86
-78.38% Jul 2008 Apr 2020 142 in progress 45 187 58.07
-49.27% Nov 1997 Feb 1999 16 Aug 2000 18 34 30.78
-36.69% Dec 2000 Jan 2002 14 Feb 2003 13 27 20.94
-33.36% Oct 1990 Nov 1994 50 Nov 1996 24 74 22.70
-20.62% Jan 1879 Aug 1882 44 Mar 1889 79 123 11.31
-14.50% May 1890 Feb 1893 34 Mar 1894 13 47 5.69
-11.36% Aug 1876 Jan 1877 6 Nov 1877 10 16 5.33
-11.32% Oct 2005 Jan 2007 16 Sep 2007 8 24 6.71
-10.65% Mar 2003 Apr 2003 2 Oct 2003 6 8 6.13
-9.69% Jan 1997 Jun 1997 6 Oct 1997 4 10 5.41
-8.19% Apr 2004 Jun 2004 3 Sep 2004 3 6 5.11
-6.67% Apr 1895 Jun 1895 3 Apr 1896 10 13 3.83
-6.05% Sep 1871 Nov 1872 15 Jan 1873 2 17 4.32
-5.58% Nov 2004 Dec 2004 2 Feb 2005 2 4 3.38
Swipe left to see all data
Drawdown (DD)
Occurrencies (EOM)
Drawdown (DD)
Range #Num Every (Avg) Frequency Cumulative Frequency
All Time High (DD=0%) 85 21.6 Months 4.62%
 
DD = 0% 4.62%
 
0% < DD <= -5% 162 11.3 Months 8.81%
 
DD <= -5% 13.44%
 
-5% < DD <= -10% 135 13.6 Months 7.34%
 
DD <= -10% 20.78%
 
-10% < DD <= -15% 93 19.8 Months 5.06%
 
DD <= -15% 25.84%
 
-15% < DD <= -20% 117 15.7 Months 6.37%
 
DD <= -20% 32.21%
 
-20% < DD <= -25% 90 20.4 Months 4.90%
 
DD <= -25% 37.11%
 
-25% < DD <= -30% 61 30.1 Months 3.32%
 
DD <= -30% 40.42%
 
-30% < DD <= -35% 46 40.0 Months 2.50%
 
DD <= -35% 42.93%
 
-35% < DD <= -40% 29 63.4 Months 1.58%
 
DD <= -40% 44.50%
 
-40% < DD <= -45% 30 61.3 Months 1.63%
 
DD <= -45% 46.14%
 
-45% < DD <= -50% 43 42.7 Months 2.34%
 
DD <= -50% 48.48%
 
-50% < DD <= -55% 43 42.7 Months 2.34%
 
DD <= -55% 50.82%
 
-55% < DD <= -60% 90 20.4 Months 4.90%
 
DD <= -60% 55.71%
 
-60% < DD <= -65% 178 10.3 Months 9.68%
 
DD <= -65% 65.40%
 
-65% < DD <= -70% 210 8.8 Months 11.43%
 
DD <= -70% 76.82%
 
-70% < DD <= -100% 426 4.3 Months 23.18%
 
DD <= -100% 100.00%
 

Rolling Returns

( more details)

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) ETF
Annualized Rolling Returns
Annualized Rolling Returns - Inflation Adjusted
Data Source: 1 February 1994 - 31 January 2024 (30 Years)
Data Source: 1 January 1871 - 31 January 2024 (~153 years)
Inflation Adjusted:
Swipe left to see all data
Rolling
Period
Worst Period
15th Percentile
50th Percentile
85th Percentile
Best Period
Latest Negative
Periods
Ann.
Return
From
To
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
From
To
Growth
of 1$
1Y -48.67 07/2008
06/2009
0.51$ -17.75 0.82$ 4.93 1.04$ 35.86 1.35$ 78.58 07/2007
06/2008
1.78$ -5.83 41.83%
2Y -30.15 03/2014
02/2016
0.48$ -13.97 0.74$ 6.23 1.12$ 24.00 1.53$ 58.92 05/2020
04/2022
2.52$ 2.51 37.98%
3Y -23.43 02/2013
01/2016
0.44$ -8.68 0.76$ 4.45 1.13$ 17.84 1.63$ 31.81 03/2002
02/2005
2.29$ 15.76 37.23%
5Y -15.57 03/2011
02/2016
0.42$ -8.20 0.65$ 3.26 1.17$ 15.65 2.06$ 25.40 03/1999
02/2004
3.10$ 9.05 34.55%
7Y -12.41 08/2008
07/2015
0.39$ -6.97 0.60$ 5.19 1.42$ 12.14 2.22$ 20.89 02/1999
01/2006
3.77$ 6.36 31.77%
10Y -8.73 07/2008
06/2018
0.40$ -5.05 0.59$ 3.53 1.41$ 10.87 2.80$ 18.17 07/1998
06/2008
5.30$ -0.25 44.81%
15Y -4.32 04/2005
03/2020
0.51$ -1.69 0.77$ 1.81 1.30$ 7.81 3.08$ 10.00 03/1999
02/2014
4.17$ 1.21 29.83%
20Y 0.06 11/2000
10/2020
1.01$ 1.46 1.33$ 2.90 1.77$ 4.72 2.51$ 6.60 04/1994
03/2014
3.58$ 1.55 0.00%
30Y 3.97 02/1994
01/2024
3.21$ 3.97 3.21$ 3.97 3.21$ 3.97 3.21$ 3.97 02/1994
01/2024
3.21$ 3.97 0.00%
Annualized rolling and percentiles/median returns over full calendar month periods
Swipe left to see all data
Rolling
Period
Worst Period
15th Percentile
50th Percentile
85th Percentile
Best Period
Latest Negative
Periods
Ann.
Return
From
To
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
From
To
Growth
of 1$
1Y -48.03 07/2008
06/2009
0.51$ -19.78 0.80$ 2.67 1.02$ 30.90 1.30$ 70.18 07/2007
06/2008
1.70$ -8.67 46.42%
2Y -30.41 03/2014
02/2016
0.48$ -14.86 0.72$ 3.13 1.06$ 20.30 1.44$ 49.67 05/2020
04/2022
2.24$ -2.11 42.43%
3Y -24.08 02/2013
01/2016
0.43$ -9.83 0.73$ 2.28 1.06$ 13.85 1.47$ 28.44 03/2002
02/2005
2.11$ 9.55 44.00%
5Y -16.70 03/2011
02/2016
0.40$ -9.57 0.60$ 0.92 1.04$ 12.68 1.81$ 22.29 03/1999
02/2004
2.73$ 4.70 43.85%
7Y -13.44 08/2008
07/2015
0.36$ -8.51 0.53$ 2.76 1.21$ 9.28 1.86$ 17.64 02/1999
01/2006
3.11$ 2.78 39.35%
10Y -10.03 07/2008
06/2018
0.34$ -6.70 0.49$ 1.20 1.12$ 8.15 2.18$ 14.79 07/1998
06/2008
3.97$ -2.96 46.89%
15Y -6.22 07/2008
06/2023
0.38$ -3.72 0.56$ -0.22 0.96$ 5.24 2.15$ 7.41 03/1999
02/2014
2.92$ -1.32 51.93%
20Y -1.94 11/2000
10/2020
0.67$ -0.73 0.86$ 0.68 1.14$ 2.29 1.57$ 4.10 04/1994
03/2014
2.23$ -1.00 39.67%
30Y 1.41 02/1994
01/2024
1.52$ 1.41 1.52$ 1.41 1.52$ 1.41 1.52$ 1.41 02/1994
01/2024
1.52$ 1.41 0.00%
Annualized rolling and percentiles/median returns over full calendar month periods
Swipe left to see all data
Rolling
Period
Worst Period
15th Percentile
50th Percentile
85th Percentile
Best Period
Latest Negative
Periods
Ann.
Return
From
To
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
From
To
Growth
of 1$
1Y -48.67 07/2008
06/2009
0.51$ -6.77 0.93$ 1.32 1.01$ 16.54 1.16$ 106.86 08/1972
07/1973
2.06$ -5.83 44.36%
2Y -30.15 03/2014
02/2016
0.48$ -4.90 0.90$ 0.42 1.00$ 13.41 1.28$ 71.21 11/1972
10/1974
2.93$ 2.51 46.31%
3Y -23.43 02/2013
01/2016
0.44$ -3.71 0.89$ 1.02 1.03$ 11.81 1.39$ 58.15 11/1971
10/1974
3.95$ 15.76 44.23%
5Y -15.57 03/2011
02/2016
0.42$ -2.34 0.88$ 0.54 1.02$ 9.93 1.60$ 38.19 12/1969
11/1974
5.03$ 9.05 40.55%
7Y -12.41 08/2008
07/2015
0.39$ -1.79 0.88$ 0.69 1.04$ 9.83 1.92$ 25.06 12/1967
11/1974
4.78$ 6.36 40.31%
10Y -8.73 07/2008
06/2018
0.40$ -1.68 0.84$ 0.45 1.04$ 10.66 2.75$ 21.88 11/1970
10/1980
7.23$ -0.25 43.89%
15Y -6.27 03/1917
02/1932
0.37$ -1.20 0.83$ 0.66 1.10$ 9.56 3.93$ 14.75 06/1969
05/1984
7.87$ 1.21 39.93%
20Y -3.16 02/1912
01/1932
0.52$ -1.17 0.78$ 0.65 1.13$ 9.53 6.17$ 17.34 10/1970
09/1990
24.46$ 1.55 36.36%
30Y -1.80 02/1902
01/1932
0.58$ -0.77 0.79$ 0.50 1.16$ 9.26 14.26$ 12.81 12/1970
11/2000
37.18$ 3.97 37.42%
Annualized rolling and percentiles/median returns over full calendar month periods
Swipe left to see all data
Rolling
Period
Worst Period
15th Percentile
50th Percentile
85th Percentile
Best Period
Latest Negative
Periods
Ann.
Return
From
To
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
Growth
of 1$
Ann.
Return
From
To
Growth
of 1$
1Y -48.03 07/2008
06/2009
0.51$ -9.40 0.90$ -0.16 0.99$ 13.18 1.13$ 95.63 08/1972
07/1973
1.95$ -8.67 50.88%
2Y -30.41 03/2014
02/2016
0.48$ -7.00 0.86$ -0.28 0.99$ 10.12 1.21$ 55.74 11/1972
10/1974
2.42$ -2.11 51.93%
3Y -27.11 02/1918
01/1921
0.38$ -5.42 0.84$ -0.53 0.98$ 8.69 1.28$ 46.93 11/1971
10/1974
3.17$ 9.55 53.66%
5Y -23.16 02/1916
01/1921
0.26$ -4.01 0.81$ -0.66 0.96$ 6.21 1.35$ 29.70 12/1969
11/1974
3.66$ 4.70 55.01%
7Y -13.75 03/1916
02/1923
0.35$ -4.18 0.74$ -0.36 0.97$ 5.88 1.49$ 17.81 12/1967
11/1974
3.14$ 2.78 54.45%
10Y -10.83 05/1911
04/1921
0.31$ -4.15 0.65$ -0.26 0.97$ 6.31 1.84$ 14.79 07/1998
06/2008
3.97$ -2.96 51.11%
15Y -8.51 02/1916
01/1931
0.26$ -3.58 0.57$ 0.46 1.07$ 5.32 2.17$ 9.27 07/1993
06/2008
3.77$ -1.32 46.68%
20Y -6.00 02/1901
01/1921
0.28$ -3.21 0.52$ 0.13 1.02$ 4.24 2.29$ 10.40 10/1970
09/1990
7.23$ -1.00 46.50%
30Y -4.20 02/1891
01/1921
0.27$ -2.93 0.41$ -0.13 0.96$ 4.92 4.22$ 7.53 07/1978
06/2008
8.82$ 1.41 51.76%
Annualized rolling and percentiles/median returns over full calendar month periods

If you need a deeper detail about rolling returns, please refer to the Invesco DB Commodity Tracking (DBC) ETF: Rolling Returns page.

Seasonality

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

Both the Average Return and the Gain Frequency (Win %) are useful to get an idea of what happened in the past.
For further information about the seasonality, check the Asset Class Seasonality page.
Swipe left to see all data
Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
0.97
80%
1.66
60%
-1.87
20%
2.16
60%
0.83
60%
1.48
80%
2.40
60%
-0.70
20%
-0.49
60%
1.57
60%
0.07
40%
2.39
60%
Best 7.9
2022
10.1
2021
9.2
2022
7.8
2021
8.1
2020
4.5
2020
8.7
2023
4.6
2020
5.2
2021
5.8
2021
10.2
2020
6.7
2021
Worst -8.6
2020
-6.7
2020
-17.3
2020
-3.1
2020
-6.4
2023
-7.5
2022
-2.0
2022
-4.6
2019
-7.0
2022
-3.1
2020
-8.8
2021
-3.3
2023
Monthly Seasonality over the period Feb 1871 - Jan 2024
Swipe left to see all data
Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
0.43
60%
1.44
50%
-1.22
30%
2.95
70%
0.17
50%
1.26
70%
-1.07
40%
-0.30
40%
-0.34
60%
0.23
50%
-2.21
40%
-0.06
50%
Best 7.9
2022
10.1
2021
9.2
2022
9.7
2016
8.1
2020
4.5
2020
8.7
2023
4.6
2020
5.2
2021
5.8
2021
10.2
2020
6.7
2021
Worst -8.6
2020
-6.7
2020
-17.3
2020
-3.1
2020
-6.4
2023
-7.5
2022
-12.6
2015
-4.6
2019
-7.2
2014
-5.6
2018
-9.8
2018
-9.6
2014
Monthly Seasonality over the period Feb 1871 - Jan 2024
Swipe left to see all data
Monthly Average Return (%) and Gain Frequency
Return (%) Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Average
Gain Frequency
0.17
55%
0.23
82%
0.44
86%
0.66
88%
0.21
82%
0.09
82%
0.40
86%
0.61
86%
0.39
86%
-0.02
83%
-0.07
83%
0.24
82%
Best 24.2
1916
11.1
2008
16.9
1999
9.7
2016
18.2
1973
12.4
1974
25.8
1973
16.6
1990
22.9
1990
9.0
1974
10.2
2020
10.5
1973
Worst -27.2
1921
-10.4
1975
-17.3
2020
-6.2
2004
-11.2
2012
-9.3
1978
-12.6
2015
-6.7
1994
-14.6
2011
-25.1
2008
-12.4
2008
-9.6
2014
Monthly Seasonality over the period Feb 1871 - Jan 2024

Monthly Returns

This section provides a visual/tabular representation of the performance variability in the Invesco DB Commodity Tracking (DBC) 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) ETF
Monthly Returns Distribution
Data Source: 1 February 1994 - 31 January 2024 (30 Years)
Data Source: 1 January 1871 - 31 January 2024 (~153 years)
191 Positive Months (53%) - 169 Negative Months (47%)
1499 Positive Months (82%) - 338 Negative Months (18%)
Swipe left to see all data
(Scroll down to see all data)
Investment 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.

Analyze your Portfolio: Backtest Now!
Explore historical data since 1871 and fine-tune your investment strategy for better results.