ETF Versus

DBC vs GSG

Invesco DB Commodity Index Tracking Fund vs iShares S&P GSCI Commodity-Indexed Trust

Last updated: 2026-04-02

DBC

Invesco DB Commodity Index Tracking Fund (DBC) is an exchange-traded fund that provides exposure to broad commodities securities. It charges a high expense ratio of 0.84%. The fund offers an attractive dividend yield of 2.60%. Launched in 2006, the fund has a 20-year track record.

AUM: $1.7B ER: 0.84% Yield: 2.60% Since: Feb 3, 2006
GSG

iShares S&P GSCI Commodity-Indexed Trust (GSG) is an exchange-traded fund that provides exposure to broad commodities securities. It charges a high expense ratio of 0.75%. Launched in 2006, the fund has a 20-year track record.

AUM: $1.0B ER: 0.75% Yield: N/A Since: Jul 10, 2006

Quick Verdict

GSG has a slightly lower expense ratio (0.75% vs 0.84%), saving about $168 per $10,000 over 10 years. Over the past year, GSG has significantly outperformed with a 40.1% return vs 27.4%.

Key Metrics

Metric DBC GSG
Expense Ratio 0.84% 0.75%
Dividend Yield 2.6% N/A
Fund Family N/A N/A
Category Broad Commodities Broad Commodities

Performance Chart

Indexed to 100 at start (5-year comparison)

100 126 152 178 204 230 2021-04 2022-06 2023-09 2024-12 2026-04
DBC +72.4%
GSG +129.7%

Performance Comparison

Period DBC GSG Difference
1 Month +11.12% +18.45% -7.33%
3 Months +28.09% +38.32% -10.23%
6 Months +27.98% +40.26% -12.28%
YTD +28.09% +38.32% -10.23%
1 Year +27.41% +40.14% -12.73%
3 Years +18.86% +54.45% -35.59%
5 Years +72.36% +129.73% -57.37%

Fee Impact Over Time

Estimated fee cost difference assuming 8% annual returns

Investment Period DBC Fees GSG Fees You Save
$10.000 10 years $1.622 $1.453 $168
$10.000 20 years $6.739 $6.064 $675
$10.000 30 years $21.014 $18.984 $2.031
$50.000 10 years $8.108 $7.266 $842
$50.000 30 years $105.070 $94.918 $10.153
$100.000 30 years $210.141 $189.836 $20.305

Risk Metrics

Based on 5 years of daily returns

Metric DBC GSG
Annualized Volatility 19.2% 22.0%
Max Drawdown -34.0% -29.1%
Sharpe Ratio 0.43 0.67

Dividend Comparison

Metric DBC GSG
Annual Dividend (per share) $0.74 $0.00
Dividend Yield 2.59% 0.00%
Distribution Frequency Semi-Annual or Annual None

Top Holdings

0 of top 1 holdings overlap (0% overlap in top holdings)

DBC Top Holdings

NameWeight
Short-Term Investment Trust - Invesco Government & Agency Portfolio!mutf/AGPXX40.03%
Brent Crude Future June 26CO308.98%
Invesco Short Term Treasury ETF#TBLL6.81%

GSG Top Holdings

NameWeight
United States Treasury Bills 0%B.0 04.16.264.41%

Which One Should You Choose?

Choose GSG if...

you want the lowest fees and plan to buy and hold long-term. Over decades, the expense ratio difference compounds significantly.

Choose GSG if...

recent performance momentum matters to your strategy. Note that past performance doesn't guarantee future results.

Either works if...

you just need broad broad commodities exposure. Both are solid options — pick whichever your brokerage offers commission-free.

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