DBA vs VOO
Invesco DB Agriculture Fund vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. VOO delivered stronger 1-year returns. VOO offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | DBA | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.88% | 0.03% | |
| AUM | $1.2B | $979.0B | |
| Dividend Yield | 3.42% | 1.09% | |
| Holdings | 17 | 509 | |
| YTD Return | +8.06% | +13.80% | |
| 1Y Return | +9.02% | +23.71% | |
| 3Y Return (annualized) | +11.78% | +21.50% | |
| 5Y Return (annualized) | +9.91% | +13.44% | |
| Volatility (annualized) | 15.3% | 14.1% | |
| Max Drawdown | -68.0% | -34.3% | |
| Fund Family | Invesco (US) | Vanguard (US) | |
| Category | Commodity | Equity | |
| Inception | Jan 5, 2007 | Sep 7, 2010 |
DBA vs VOO Performance
Invesco DB Agriculture Fund (DBA) is a ETF from Invesco (US) and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year DBA returned +9.02% while VOO returned +23.71%. Year to date, DBA is up 8.06% versus a gain of 13.80% for VOO.
Over three years, DBA compounded at +11.78% per year against +21.50% for VOO; over five years the annualized figures are +9.91% and +13.44% respectively. Across the full 16-year window we track, VOO has the edge at +13.58% annualized vs +1.25%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DBA has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 14.1% for VOO. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -68.0% for DBA and -34.3% for VOO. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.26. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
DBA charges 0.88% per year while VOO charges 0.03%. On a $10,000 position that is $88 vs $3 annually, a gap of $85 per year that compounds over a long holding period. On income, DBA currently yields 3.42% against 1.09% for VOO.
Holdings Overlap
DBA and VOO share 0 holdings out of 507 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, DBA or VOO?
DBA has an expense ratio of 0.88% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $85 per year of difference.
Which performed better, DBA or VOO?
Over the past year DBA returned +9.02% vs +23.71% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), DBA annualized +1.25% vs +13.58% for VOO. Past performance does not guarantee future results.
Which is riskier, DBA or VOO?
DBA has been the more volatile fund at 15.3% annualized versus 14.1% for VOO. Worst drawdown: DBA -68.0% vs VOO -34.3%.
Should I hold both DBA and VOO?
DBA and VOO have a monthly-return correlation of 0.26, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DBA and VOO?
DBA and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 507 unique securities.
Which pays a higher dividend, DBA or VOO?
DBA yields 3.42% while VOO yields 1.09%, so DBA currently pays the higher dividend yield.
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