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DBC vs SDMF

Invesco DB Commodity Index Tracking Fund

DBCCNYSE Arca

Simplify DBi CTA Managed Futures Index ETF

SDMFBNYSE Arca

Overlap

Expense ratio

SDMF −0.68pt a year

DBC0.89%SDMF0.21%

Avg volume · 30D

DBC 34.1×the volume

DBC867KSDMF25.4K

DBC vs SDMF Performance

Jul 31, 2026 – Oct 30, 2026

+14.1%DBC+4.8%SDMF

Jul 31, 2026 to Oct 30, 2026. DBC +14.1%. SDMF +4.8%. Use the arrow keys to read each point.−5%0%10%Jul 2026Sep 2026Oct 2026
Expense ratio
DBC 0.89%
SDMF 0.21%, better
Fund size
DBC $1.94B
SDMF $49M
1Y total return
DBC +51.8%
SDMF No data
Yield (12M)
DBC 2.21%
SDMF No data
Holdings
DBC 28
SDMF 27
Avg volume (30D)
DBC 867K sh, better
SDMF 25.4K sh
NAV per share
DBC $33.77
SDMF $27.08
52W range

ETF.net Grade

DBC: Cost 18, Risk 44, Mission not scored, Tradability 72, Holdings 55, Durability 81. SDMF: Cost 100, Risk 72, Mission not scored, Tradability 37, Holdings 25, Durability 30.
Pillar letters and Scores for DBC, SDMF, with each pillar’s weight
PillarDBCSDMF
Cost30% weightF18A100Higher
Mission25% weightNot scoredNot scored
Risk15% weightC44A72Higher
Tradability15% weightA72HigherD37
Holdings10% weightB55HigherD25
Durability5% weightA81HigherD30

Rank among Broad Commodity Futures funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. DBC and SDMF are both graded against the same 21 Broad Commodity Futures funds, so their Grades compare head to head.

Broad Commodity Futures⁠

Category · 21 funds
See all 21 ›

SDMF ranks 4th and DBC 16th of 21 funds in the Broad Commodity Futures Category.

  1. Rank 1ACERYState Street SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETFScore 77
  2. Rank 2ACMDYiShares Bloomberg Roll Select Commodity Strategy ETFScore 69
  3. Rank 3ACOMBGraniteShares Bloomberg Commodity Broad Strategy No K-1 ETFScore 68
  4. Rank 4BSDMFSimplify DBi CTA Managed Futures Index ETFScore 67
  5. Rank 5BBCDabrdn Bloomberg All Commodity Longer Dated Strategy K-1 Free ETFScore 63
  6. Rank 15CISTMiShares Strategic Metals ETFScore 45
  7. Rank 16CDBCInvesco DB Commodity Index Tracking FundScore 43
  8. Rank 17CGSGiShares S&P GSCI Commodity-Indexed TrustScore 41

Our read on each fund

ETF.net Research

DBCCInvesco DB Commodity Index Tracking Fund

SDMFBSimplify DBi CTA Managed Futures Index ETF

In short

DBC One 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.

SDMF Managed futures without the hedge fund bill. SDMF tracks an index built to replicate what CTA trend funds are actually doing, using a short list of liquid futures markets, for 0.35% a year.

Stated mandate

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

SDMF The Fund seeks long-term capital appreciation.

Why people hold it

  • DBC Live 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.
  • "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
  • One 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
  • SDMF Charges 0.35%, roughly half the typical fee among futures-strategy funds in its group. Cheap shelf space for a strategy that usually arrives with hedge fund pricing.
  • Rules over hunches: it follows the DBi CTA Managed Futures Index and its advertised 10-factor replication approach, not a trader's discretion.simplify.us
  • Its cohort is mostly long-only commodity baskets (BCI, CMDY). This one is a managed futures strategy, which can lean either direction across futures markets.
  • Ordinary 1940 Act ETF plumbing: daily pricing, intraday trading, no lockup or subscription paperwork.

Worth knowing

  • DBC The 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.
  • It 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
  • The 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.
  • SDMF Launched in 2026, so there is no long record here and the risk picture rests on limited history.
  • A small fund that has traded lightly since launch, so spreads can run wider than the big commodity index names in its category.
  • The stated goal is long-term capital appreciation, and payouts come once or twice a year at most. Not built as an income stream.

Full DBC profile⁠

Full SDMF profile⁠

DBC vs SDMF Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

DBC vs SDMF Cost

Overpaying DBC vs SDMF

$12,515

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • DBC 0.89%

    $16,872

  • SDMF 0.21%

    $4,357

$10,000
30 years

Cost over time

  • DBC 0.89%
  • SDMF 0.21%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530DBC $16,872SDMF $4,357

Year by year

YearDBCSDMFOverpaying
10$1,576$383$1,193
20$5,953$1,491$4,462
30$16,872$4,357$12,515

Expense ratio

  • 0.89%DBC
  • 0.21%SDMF, cheaper
  • Middle half of Broad Commodity Futures funds
  • Median 0.68%

SDMF cheapest of 21 funds

DBC 17th cheapest of 21 funds

DBC vs SDMF Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
DBC 2.21%
SDMF No data
Payout (12M)
DBC $0.74
SDMF No data
Last payment
DBC $0.74
SDMF $0.10
Ex-dividend
DBC Dec 22, 2025
SDMF Sep 25, 2026
Paid on
DBC Dec 26, 2025
SDMF Sep 30, 2026
Frequency
DBC Annual
SDMF Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

DBCAnnual · 6 paymentsAll DBC payments⁠
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.$0$12017202020232026YTD
SDMFQuarterly · 2 paymentsAll SDMF payments⁠
One bar per payment. 2 payments from 2017 to 2026 YTD. Jun 25, 2026 $0.10; Sep 25, 2026 $0.10. Use the arrow keys to read each point.$0$12017202020232026YTD

DBC vs SDMF Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
DBC 16.6%SDMF No data
Return per unit of riskSharpe ratio, 3 years
DBC 0.71SDMF No data
Worst fallMax drawdown, 5 years
DBC −27.4%SDMF No data
Market sensitivityBeta, 5 years
DBC 1.05SDMF 0.27

DBC and SDMF in the news

All news⁠

Popular comparisons

  • DBCCvsCERYA

    Invesco DB Commodity Index Tracking Fund · State Street SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF

    Expense ratio
    0.89% · 0.28%
    Category
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  • SDMFBvsCERYA

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  • DBCCvsCMDYA

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  • SDMFBvsCMDYA

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    Expense ratio
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    Category
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  • DBCCvsCOMBA

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    Expense ratio
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    Category
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  • SDMFBvsCOMBA

    Simplify DBi CTA Managed Futures Index ETF · GraniteShares Bloomberg Commodity Broad Strategy No K-1 ETF

    Expense ratio
    0.21% · 0.25%
    Category
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