DBC Stock: Invesco DB Commodity Index Tracking Fund Profile & Analysis (2026)
The leading ETF for broad exposure to the world’s most liquid physical commodities — Updated May 2026 with current AUM, expense ratio, holdings, and performance data.
The Invesco DB Commodity Index Tracking Fund (DBC) is one of the most widely recognized vehicles for investors seeking liquid exposure to a diversified basket of physical commodities. By tracking the DBIQ Optimum Yield Diversified Commodity Index, DBC provides a strategic hedge against inflation and a way to diversify portfolios beyond traditional stocks and bonds. Unlike a single-metal focus like the GLD Stock Profile, DBC offers a comprehensive mix of energy, precious metals, industrial metals, and agriculture.
DBC is particularly unique because of its “Optimum Yield” methodology, which attempts to mitigate the negative effects of contango by selecting futures contracts with the best implied roll yield. While many traders look at the UNG Stock Profile for natural gas or the SLV Stock Profile for silver, DBC bundles these assets together, providing a “one-click” solution for broad commodity market participation. With a current dividend yield of 5.03%, primarily driven by interest on the fund’s cash collateral, it remains a powerhouse in the commodity ETF space.
Key Takeaways — DBC Stock
DBC provides exposure to 14 of the world’s most liquid physical commodities across energy, metals, and agriculture.
The fund uses a rules-based approach to roll futures contracts, aiming to maximize roll yield and minimize the costs of contango.
The fund earns significant interest on its treasury collateral, leading to a robust 5.03% dividend yield for shareholders.
Historically, broad commodities like those in DBC have shown a positive correlation with inflation, acting as a portfolio shield.
DBC — Live Price Chart
Real-time chart from TradingView.
DBC ETF Vitals & Key Statistics
Core data as of May 2026.
| Data Point | Value | Data Point | Value |
|---|---|---|---|
| Full Name | Invesco DB Commodity Index Tracking Fund | Ticker | DBC |
| Issuer | Invesco | Asset Class | Commodities / Broad Market |
| Index Tracked | DBIQ Optimum Yield Diversified Commodity Index Excess Return | Structure | Commodity Pool (K-1 Issuer) |
| Expense Ratio | 0.87% | AUM | ~$1.89B |
| Inception Date | February 3, 2006 | Exchange | AMEX |
| No. of Holdings | 23 | Dividend Yield | 5.03% |
| 52-Week High | $31.79 | 52-Week Low | $19.84 |
| Avg Daily Volume | ~1 million shares (964,330) | YTD Return | 38.30% |
| 1-Year Return | 44.56% | 5-Year Return | 13.82% |
| Category | Commodities Broad Basket | Dividend Frequency | Annual |
DBC Top 10 Holdings (May 2026)
Largest positions by weight. Click columns to sort.
| Rank | Ticker | Company Name | Sector | Weight % |
|---|---|---|---|---|
| 1 | AGPXX | Invesco Government & Agency Portfolio | Short Term Investment | 32.81% |
| 2 | TBLL | Invesco Short Term Treasury ETF | Treasury Bill | 8.69% |
| 3 | CASH | Futures Cash Collateral | Cash/Collateral | 8.55% |
| 4 | HO1! | NY Harbor ULSD Future May 26 | Energy | 6.49% |
| 5 | CO1! | Brent Crude Future Nov 25 | Energy | 6.04% |
| 6 | BZ1! | Mini Ibovespa Future Dec 25 | Index Future | 5.99% |
| 7 | CL1! | Crude Oil Future Nov 25 | Energy | 5.83% |
| 8 | GC1! | Gold Future Dec 25 | Precious Metals | 4.81% |
| 9 | NG1! | Henry Hub Natural Gas Apr 26 | Energy | 3.52% |
| 10 | ZN1! | Lme Zinc Future Oct 25 | Industrial Metals | 3.11% |
DBC — Pros & Cons
✓ Comprehensive Hedging
Offers a direct way to profit from rising raw material costs and inflation across multiple sectors.
✗ High Expense Ratio
At 0.87%, DBC is significantly more expensive than broad stock index ETFs or its K-1-less sibling, PDBC.
✓ Yield Generation
Unlike physical gold, DBC generates income by investing its cash collateral in interest-bearing treasuries.
✗ Tax Complexity
DBC is a commodity pool that issues a Schedule K-1, which can complicate tax filings for individual investors.
✓ Optimized Rolling
The fund’s strategy is designed to intelligently select futures contracts to maximize return and minimize roll costs.
✗ Futures Volatility
Exposure to futures markets can lead to rapid price swings and disconnects from spot physical prices.
Who Should Consider DBC?
Sophisticated investors seeking broad commodity exposure and inflation protection who don’t mind handling a K-1 tax form.
Passive, low-cost investors or those who want simple 1099-DIV tax reporting without the complexity of partnership accounting.
You believe a commodities super-cycle is underway or when interest rates are high, boosting the fund’s collateral yield.
Typically taxable brokerage accounts due to K-1 complexity, though some use them in IRAs despite potential UBIT issues.
DBC vs Similar ETFs
Key metrics comparison.
| ETF | Full Name | Expense Ratio | AUM | Holdings | Div Yield | YTD | Best For |
|---|---|---|---|---|---|---|---|
| DBC ★ | Invesco DB Commodity Index Tracking Fund | 0.87% | $1.89B | 23 | 5.03% | 38.30% | Liquidity & Strategy |
| PDBC | Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | 0.51% | ~$4.2B | ~20 | ~4.50% | 37.90% | No K-1 Tax Filing |
| GCC | WisdomTree Enhanced Commodity Strategy Fund | 0.57% | ~$210M | ~25 | ~3.80% | 32.10% | Broad Diversification |
| USCI | United States Commodity Index Fund | 0.60% | ~$150M | ~14 | ~2.90% | 34.50% | Active Selection |
DBC Technical Analysis
Real-time buy/sell signals.
DBC — Risks & Considerations
Contango & Roll Costs
If future commodity prices are higher than spot prices (contango), the fund may lose value when rolling contracts.
K-1 Tax Form Requirement
DBC is a partnership for tax purposes, meaning you will receive a K-1 form, which often arrives later than standard 1099s.
Energy Overweighting
While diversified, the index is heavily influenced by energy prices (Oil, Gas), making it sensitive to OPEC+ decisions.
Collateral Risk
The fund’s yield and stability depend on the safety and interest rates of the short-term treasuries used as collateral.