Invesco DB Agriculture Fund (DBA) Performance
DBA total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +9.2% since Dec 31, 2025
- 1 year
- +7.3% total return
- 5 years
- +10.7% a year
- 10 years
- +4.8% a year
- Since first price
- +1.5% a year since 2007
DBA trailing returns vs SPY, QQQ, AGG
| Period | DBA total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −2.4% | −2.4% | −1.0% | −5.0% | +0.9% |
| 3 months | −1.3% | −1.3% | +3.2% | +1.9% | −0.4% |
| 6 months | +1.7% | +1.7% | +7.8% | +8.4% | −1.5% |
| YTD | +9.2% | +9.2% | +12.3% | +15.1% | −1.0% |
| 1 year | +7.3% | +3.5% | +14.4% | +15.9% | −1.1% |
| 3 years | +43.3%+12.7%/yr | +27.1% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +66.4%+10.7%/yr | +46.8% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +59.9%+4.8%/yr | +37.4% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +5.4%+0.4%/yr | −9.4% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionJan 5, 2007 | +33.9%+1.5%/yr | +11.4% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: DBA vs SPY
From Jan 5, 2007: DBA grew to $13,393, SPY to $77,514.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
DBA returns by calendar year
7 of 18 full years positive. Best 2024 (+33.4%), worst 2008 (−19.1%). 2026 is year to date.
DBA annual returns table
| Year | DBA | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +9.2% | −8.7% | +12.3% | +15.1% | −1.0% |
| 2025 | −0.6% | −11.0% | +17.7% | +20.8% | +7.2% |
| 2024 | +33.4% | −12.4% | +24.9% | +25.6% | +1.3% |
| 2023 | +7.6% | −5.7% | +26.2% | +54.9% | +5.7% |
| 2022 | +2.5% | −15.9% | −18.2% | −32.6% | −13.0% |
| 2021 | +22.4% | −8.6% | +28.7% | +27.4% | −1.8% |
| 2020 | −2.5% | −20.4% | +18.3% | +48.6% | +7.5% |
| 2019 | −0.7% | −14.3% | +31.2% | +39.0% | +8.5% |
| 2018 | −8.7% | −14.2% | −4.6% | −0.1% | +0.1% |
| 2017 | −6.1% | −12.9% | +21.7% | +32.7% | +3.6% |
| 2016 | −3.1% | −14.3% | +12.0% | +7.1% | +2.4% |
| 2015 | −17.2% | −19.7% | +1.2% | +9.4% | +0.5% |
| 2014 | +2.6% | −15.3% | +13.5% | +19.2% | +6.0% |
| 2013 | −13.2% | −13.2% | +32.3% | +36.6% | −2.0% |
| 2012 | −3.2% | −12.5% | +16.0% | +18.1% | +3.8% |
| 2011 | −10.7% | −22.1% | +1.9% | +3.4% | +7.7% |
| 2010 | +22.4% | −15.3% | +15.1% | +19.9% | +6.4% |
| 2009 | +1.0% | −18.3% | +26.4% | +54.7% | +3.0% |
| 2008 | −19.1% | −48.9% | −36.8% | −41.7% | +7.9% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
DBA largest drawdowns
Now 23.1% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 26, 2008 | −68.0% | Jun 26, 2020 | not yet | 12.3 years | 18.7 years so far |
| Feb 22, 2007 | −10.1% | May 10, 2007 | Jun 14, 2007 | 3 months | 4 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
DBA risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2007 |
|---|---|---|---|---|
| Annualized return | +14.0% | +10.8% | +5.1% | +1.4% |
| Volatility (annualized) | 12.7% | 11.3% | 11.3% | 15.4% |
| Sharpe ratio | 0.76 | 0.65 | 0.29 | 0.08 |
| Sortino ratio | 1.45 | 1.12 | 0.46 | 0.11 |
| Best month | +11.6% | +11.6% | +11.6% | +15.1% |
| Worst month | −5.3% | −7.3% | −7.7% | −14.9% |
| Best 12 months | +33.4% | +33.4% | +37.9% | +56.3% |
| Worst 12 months | −3.7% | −6.5% | −17.2% | −42.1% |
| Positive months | 58% | 60% | 53% | 49% |
| Beta vs S&P 500 | 0.05 | 0.12 | 0.16 | — |
| Correlation with S&P 500 | 0.05 | 0.17 | 0.22 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
DBA rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 226 | −42.1% | −1.0% | +56.3% | 47% |
| 3-year (a year) | 202 | −12.3% | −1.6% | +16.2% | 45% |
| 5-year (a year) | 178 | −11.1% | −1.3% | +16.5% | 44% |
| 10-year (a year) | 118 | −7.6% | −3.1% | +5.4% | 23% |
Every holding period starting at a month-end since 2007. Returns for 3 years and longer are annualized.
DBA performance overview
Invesco DB Agriculture Fund (DBA) returned +7.3% over the past year and +4.8% a year over ten years, with distributions reinvested. Since its first recorded price in 2007 it has returned +1.5% a year, turning $10,000 into about $13,393. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −68.0%, from Feb 26, 2008 to Jun 26, 2020; the fund has not yet regained that high. DBA finished 7 of its 18 full calendar years with a gain; the best year was 2024 (+33.4%) and the worst 2008 (−19.1%). Volatility has been 15.4% a year.
Related: DBA chart, DBA dividends. See the DBA overview for the latest quote and fund facts.
DBA performance FAQ
What is the DBA return over the past year?
DBA returned +7.3% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 3.5%.
What is the average annual return of DBA?
DBA has returned +10.7% a year over 5 years, +4.8% a year over 10 years, +1.5% a year since January 5, 2007 (total return, distributions reinvested).
How much would $10,000 invested in DBA be worth?
$10,000 invested in DBA at its first recorded close on January 5, 2007 would be worth about $13,393 on October 23, 2026 with distributions reinvested.
What was the worst year for DBA?
The worst calendar year was 2008, with a total return of −19.1%. The best was 2024 at +33.4%.
What is the biggest drawdown of DBA?
The largest peak-to-trough decline was −68.0% between February 26, 2008 and June 26, 2020. It has not yet recovered to that high; it is 23.1% below its peak.
How volatile is DBA?
Over the past 3 years DBA had an annualized volatility of 12.7% and a Sharpe ratio of 0.76 (excess return over 1–3 month T-bills per unit of risk).