Invesco DB Commodity Index Tracking Fund (DBC) Performance
DBC total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +52.5% since Dec 31, 2025
- 1 year
- +54.3% total return
- 5 years
- +12.6% a year
- 10 years
- +10.2% a year
- Since first price
- +2.8% a year since 2006
DBC trailing returns vs SPY, QQQ, AGG
| Period | DBC total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +3.7% | +3.7% | −1.0% | −5.0% | +0.9% |
| 3 months | +12.5% | +12.5% | +3.2% | +1.9% | −0.4% |
| 6 months | +14.1% | +14.1% | +7.8% | +8.4% | −1.5% |
| YTD | +52.5% | +52.5% | +12.3% | +15.1% | −1.0% |
| 1 year | +54.3% | +49.3% | +14.4% | +15.9% | −1.1% |
| 3 years | +56.0%+16.0%/yr | +36.6% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +81.3%+12.6%/yr | +57.8% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +163.1%+10.2%/yr | +122.4% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +48.4%+2.7%/yr | +25.5% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| 20 years | +78.5%+2.9%/yr | +41.5% | +696.9%+10.9%/yr | +1,839.9%+16.0%/yr | +79.6%+3.0%/yr |
| Since inceptionFeb 3, 2006 | +75.6%+2.8%/yr | +39.2% | — | — | — |
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: DBC vs SPY
From Feb 3, 2006: DBC grew to $17,557, SPY to $87,870.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
DBC returns by calendar year
11 of 19 full years positive. Best 2021 (+41.4%), worst 2008 (−31.8%). 2026 is year to date.
DBC annual returns table
| Year | DBC | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +52.5% | −16.5% | +12.3% | +15.1% | −1.0% |
| 2025 | +8.1% | −12.3% | +17.7% | +20.8% | +7.2% |
| 2024 | +2.2% | −12.2% | +24.9% | +25.6% | +1.3% |
| 2023 | −6.2% | −12.3% | +26.2% | +54.9% | +5.7% |
| 2022 | +19.3% | −23.2% | −18.2% | −32.6% | −13.0% |
| 2021 | +41.4% | −11.6% | +28.7% | +27.4% | −1.8% |
| 2020 | −7.8% | −35.1% | +18.3% | +48.6% | +7.5% |
| 2019 | +11.8% | −9.8% | +31.2% | +39.0% | +8.5% |
| 2018 | −11.6% | −21.4% | −4.6% | −0.1% | +0.1% |
| 2017 | +4.9% | −14.4% | +21.7% | +32.7% | +3.6% |
| 2016 | +18.6% | −10.4% | +12.0% | +7.1% | +2.4% |
| 2015 | −27.6% | −28.8% | +1.2% | +9.4% | +0.5% |
| 2014 | −28.1% | −31.5% | +13.5% | +19.2% | +6.0% |
| 2013 | −7.6% | −12.2% | +32.3% | +36.6% | −2.0% |
| 2012 | +3.5% | −18.9% | +16.0% | +18.1% | +3.8% |
| 2011 | −2.6% | −19.9% | +1.9% | +3.4% | +7.7% |
| 2010 | +11.9% | −17.6% | +15.1% | +19.9% | +6.4% |
| 2009 | +16.2% | −20.2% | +26.4% | +54.7% | +3.0% |
| 2008 | −31.8% | −57.6% | −36.8% | −41.7% | +7.9% |
| 2007 | +31.6% | −5.6% | +5.1% | +19.0% | +6.6% |
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.
DBC largest drawdowns
Now 11.8% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jul 2, 2008 | −76.4% | Apr 27, 2020 | not yet | 11.8 years | 18.3 years so far |
| May 11, 2006 | −14.4% | Sep 20, 2006 | Jun 14, 2007 | 4 months | 1.1 years |
| Mar 13, 2008 | −10.0% | Mar 20, 2008 | Apr 16, 2008 | 7 days | 34 days |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
DBC risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2006 |
|---|---|---|---|---|
| Annualized return | +13.9% | +13.0% | +9.8% | +2.8% |
| Volatility (annualized) | 16.6% | 17.3% | 17.0% | 18.8% |
| Sharpe ratio | 0.60 | 0.58 | 0.50 | — |
| Sortino ratio | 1.07 | 0.98 | 0.76 | — |
| Best month | +15.3% | +15.3% | +15.3% | +16.3% |
| Worst month | −9.6% | −9.6% | −17.3% | −25.1% |
| Best 12 months | +56.3% | +56.3% | +68.8% | +78.6% |
| Worst 12 months | −7.2% | −23.0% | −31.2% | −48.7% |
| Positive months | 64% | 60% | 58% | 52% |
| Beta vs S&P 500 | -0.17 | 0.13 | 0.39 | — |
| Correlation with S&P 500 | -0.12 | 0.12 | 0.36 | — |
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.
DBC rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 237 | −48.7% | +1.5% | +78.6% | 53% |
| 3-year (a year) | 213 | −23.4% | +0.6% | +29.6% | 52% |
| 5-year (a year) | 189 | −15.6% | +2.5% | +17.3% | 55% |
| 10-year (a year) | 129 | −8.7% | −2.5% | +10.4% | 22% |
Every holding period starting at a month-end since 2006. Returns for 3 years and longer are annualized.
DBC performance overview
Invesco DB Commodity Index Tracking Fund (DBC) returned +54.3% over the past year and +10.2% a year over ten years, with distributions reinvested. Since its first recorded price in 2006 it has returned +2.8% a year, turning $10,000 into about $17,557. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −76.4%, from Jul 2, 2008 to Apr 27, 2020; the fund has not yet regained that high. DBC finished 11 of its 19 full calendar years with a gain; the best year was 2021 (+41.4%) and the worst 2008 (−31.8%). Volatility has been 18.8% a year.
Related: DBC chart, DBC dividends. See the DBC overview for the latest quote and fund facts.
DBC performance FAQ
What is the DBC return over the past year?
DBC returned +54.3% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 49.3%.
What is the average annual return of DBC?
DBC has returned +12.6% a year over 5 years, +10.2% a year over 10 years, +2.8% a year since February 3, 2006 (total return, distributions reinvested).
How much would $10,000 invested in DBC be worth?
$10,000 invested in DBC at its first recorded close on February 3, 2006 would be worth about $17,557 on October 23, 2026 with distributions reinvested.
What was the worst year for DBC?
The worst calendar year was 2008, with a total return of −31.8%. The best was 2021 at +41.4%.
What is the biggest drawdown of DBC?
The largest peak-to-trough decline was −76.4% between July 2, 2008 and April 27, 2020. It has not yet recovered to that high; it is 11.8% below its peak.
How volatile is DBC?
Over the past 3 years DBC had an annualized volatility of 16.6% and a Sharpe ratio of 0.60 (excess return over 1–3 month T-bills per unit of risk).