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DBC

GradeCNew York Stock Exchange Arca

Invesco DB Commodity Index Tracking Fund

Commodities · Invesco · Inception 2006-02-03 · SEC filings

$32.75+0.31 (+0.96%)

As of Sep 23, 2026, 2:20 PM EDT

Intraday session: up, 59 prints from 32.44 to 32.75. Range 32.56 to 32.83. Use the arrow keys to read each point.$32.60$32.70$32.8010 AM12 PM2 PM4 PM
Expense ratio
0.89%
Fund size
$2.0B
1Y return
+50.6%
Yield · Last 12 months
2.29%
Holdings
31
Volume · 30D
1M sh
NAV per share
$32.62
52W range
low $21.98high $33.78

The ETF.net DBC Grade

C

45/ 100

Rank 16 of 23 in Broad Commodity Futures⁠

Confidence Medium

Six-pillar profile for DBC. Scores out of 100: Cost 23, Risk 40, Mission not scored, Tradability 83, Holdings 50, Durability 81. Strongest: Tradability (83). Weakest: Cost (23). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 45 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    FScore 23
    Category rank18/23 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 40
    Category rank17/23 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 83
    Category rank3/23 · top 13%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    CScore 50
    Category rank8/15 · mid-pack

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    AScore 81
    Category rank4/23 · top 17%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on DBC

ETF.net Research

COne of the original broad commodity ETFs, running since 2006: roughly 30 futures positions and an index built to pick contracts by roll yield, not by default. Big, actively traded, and still a K-1 partnership.

Stated mandate

The Fund seeks to track positive or negative changes in the DBIQ Optimum Yield Diversified Commodity Index Excess Return.

Why people hold it

  1. 01Live since 2006, making it one of the longest-running broad commodity funds around, and it still sits in the multi-billion-dollar, actively traded tier of its category.
  2. 02"Optimum Yield" is in the index name for a reason: the rules choose which contract along each commodity's futures curve to hold instead of defaulting to the nearest month.invesco.com
  3. 03One ticker for a diversified basket of about 30 commodity futures positions, with no futures account, margin calls, or roll dates to manage yourself.invesco.com

Worth knowing

  1. 01The 0.89% expense ratio is the trade-off: K-1-free peers such as BCI (0.26%) and CMDY (0.29%) cover similar ground for a fraction of the fee.
  2. 02It is a commodity partnership, so tax season brings a Schedule K-1 rather than a 1099. Several newer competitors were built specifically to avoid that form.invesco.com
  3. 03The fund follows its index's futures prices and roll choices, not spot prices, so it can move differently from the oil or copper headlines you see quoted.

DBC Holdings

As of Sep 20, 2026, 1:42 PM
Asset class
Other
Holdings
31
Top-10 weight
180%
Largest holding
AGPXX91.2%

Sectors

Geography

The fund’s holdings, weight-ordered — page 1 of 2.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001AGPXXInvesco Government & Agency Portfolio91.17%1,601,382,339$1.6B239
002—ICE Brent Crude Oil Future 10/30/202620.55%3,636$361M2
003—NYMEX Light Sweet Crude Oil Future 10/20/202617.70%3,236$311M3
004TBLLInvesco Short Term Treasury ETF12.28%2,039,500$216M5
005—ICE Gas Oil Future 12/10/202610.34%1,343$182M2
006—COMEX Gold 100 Troy Ounces Future 12/29/202610.00%397$176M2
007—NYMEX NY Harbor ULSD Futures 05/28/20276.01%676$106M2
008—NYMEX Reformulated Gasoline Blendstock for Oxygen Blending RBOB Futures 11/30/20264.15%578$73M2
009—CBOT Soybean Future 11/13/20263.70%996$65M2
010—CBOT Corn Future 09/14/20273.62%2,437$64M2
011—LME Primary Aluminum Future 12/14/20263.48%743$61M2
012—LME Copper Future 03/15/20273.12%151$55M2
013—COMEX Copper Future 05/26/20272.92%299$51M2
014—NYMEX Henry Hub Natural Gas Futures 03/29/20272.40%1,558$42M2
015—COMEX Silver Future 12/29/20262.35%123$41M2

Showing 1–15 of 28 holdings

DBC Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

DBC$15,058
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. DBC $15,058. SPY $11,723. Use the arrow keys to read each point.$9,043$12,582$16,121Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for DBC. Periods over one year show the average yearly return.
PeriodDBC
Year to date+45.1%
1 month+3.8%
3 months+18.4%
1 year+50.6%
3 years+13.6%per year
5 years+13.8%per year
10 years+10.0%per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for DBC
YearReturn barDBC
2026 YTD+45.1%
2025+8.1%
2024+2.2%
2023−6.2%
2022+19.3%
2021+41.4%
2020−7.8%

DBC in the news

DBC Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
2.29%Last 12 months
Payout per share
$0.74Last 12 months
Last payment
$0.74 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2017–2026

One bar per payment. 6 payments from 2017 to 2026 YTD. Dec 24, 2018 $0.19; Dec 23, 2019 $0.25; Dec 19, 2022 $0.15; Dec 18, 2023 $1.09; Dec 23, 2024 $1.12; Dec 22, 2025 $0.74. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Dec 22, 2025Dec 26, 2025$0.74
Dec 23, 2024Dec 27, 2024$1.12
Dec 18, 2023Dec 22, 2023$1.09
Dec 19, 2022Dec 23, 2022$0.15
Dec 23, 2019Dec 31, 2019$0.25
Dec 24, 2018Dec 31, 2018$0.19
Dec 15, 2008Dec 30, 2008$0.34
Dec 17, 2007Dec 28, 2007$0.76
Dec 18, 2006Dec 29, 2006$1.22

DBC Risk

How much the fund’s monthly returns vary, scaled to a year.
16.5%
Annualised · 36 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.56
vs 3-month T-bills · to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−27.4%
Trough Sep 2024
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.05
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

DBC Cost

Expense ratio0.89%
  • The middle half of Broad Commodity Futures funds
  • Median 0.72%

15 of the 21 Broad Commodity Futures funds charge less.

DBC costs $89.00 a year on $10,000. The median Broad Commodity Futures fund costs $72.00.