DBC vs VOO
DBC vs VOO
Invesco DB Commodity Index Tracking Fund vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. DBC delivered stronger 1-year returns. VOO offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | DBC | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 0.84% | 0.03% | |
| AUM | $1.7B | $979.0B | |
| Dividend Yield | 2.80% | 1.09% | |
| Holdings | 33 | 509 | |
| YTD Return | +29.12% | +13.80% | |
| 1Y Return | +36.83% | +23.71% | |
| 3Y Return (annualized) | +10.58% | +21.50% | |
| 5Y Return (annualized) | +12.15% | +13.44% | |
| Volatility (annualized) | 18.7% | 14.1% | |
| Max Drawdown | -76.4% | -34.3% | |
| Fund Family | Invesco (US) | Vanguard (US) | |
| Category | Commodity | Equity | |
| Inception | Feb 3, 2006 | Sep 7, 2010 |
DBC vs VOO Performance
Invesco DB Commodity Index Tracking Fund (DBC) is a ETF from Invesco (US) and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year DBC returned +36.83% while VOO returned +23.71%. Year to date, DBC is up 29.12% versus a gain of 13.80% for VOO.
Over three years, DBC compounded at +10.58% per year against +21.50% for VOO; over five years the annualized figures are +12.15% and +13.44% respectively. Across the full 16-year window we track, VOO has the edge at +13.58% annualized vs +1.96%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DBC has been the more volatile fund, with annualized monthly volatility of 18.7% 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 -76.4% for DBC 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 0.39. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
DBC charges 0.84% per year while VOO charges 0.03%. On a $10,000 position that is $84 vs $3 annually, a gap of $81 per year that compounds over a long holding period. On income, DBC currently yields 2.80% against 1.09% for VOO.
Holdings Overlap
DBC 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, DBC or VOO?
DBC has an expense ratio of 0.84% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $81 per year of difference.
Which performed better, DBC or VOO?
Over the past year DBC returned +36.83% vs +23.71% for VOO, so DBC leads on 1-year performance. Over the longest common window we track (16 years), DBC annualized +1.96% vs +13.58% for VOO. Past performance does not guarantee future results.
Which is riskier, DBC or VOO?
DBC has been the more volatile fund at 18.7% annualized versus 14.1% for VOO. Worst drawdown: DBC -76.4% vs VOO -34.3%.
Should I hold both DBC and VOO?
DBC and VOO have a monthly-return correlation of 0.39, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DBC and VOO?
DBC and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 507 unique securities.
Which pays a higher dividend, DBC or VOO?
DBC yields 2.80% while VOO yields 1.09%, so DBC currently pays the higher dividend yield.
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