Which returned more over the last year, DBC or NBCM?

In the year to Oct 9, 2026, with distributions reinvested, DBC returned +51.0% and NBCM +43.3%.

Which is cheaper, DBC or NBCM?

NBCM is cheaper, by 0.20 percentage points a year. On $10,000 held for a year that difference is about $20. Fees come from each fund's prospectus.

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DBC vs NBCM: how they differ

DBC is a commodity futures fund and NBCM an actively managed commodity fund, and over the year DBC returned +51.0% against +43.3%. Invesco DB Commodity Index Tracking Fund and Neuberger Commodity Strategy ETF.

NBCM costs 0.20 points a year less; their one-year returns differ by 7.7 points; DBC is 4.6 times larger.

	DBC	NBCM
Expense ratio	0.85%	0.65%
Net assets, DBC as of Oct 8, 2026 and NBCM as of May 31, 2026	$2.0bn	$425m
Total return, 1 year	+51.0%	+43.3%
Holdings in common	not published
Below its high	14.8%, high on Jul 2, 2008

+51.0%

DBC total return, 1 year

+43.3%

NBCM total return, 1 year

0.85%

DBC expense ratio

0.65%

NBCM expense ratio

On the same fields

DBC

Invesco DB Commodity Index Tracking Fund

NBCM

Neuberger Commodity Strategy ETF

Where it sits Commodity ETF Commodity ETF

Issuer Invesco Neuberger Berman

What it is Holds commodity futures Actively managed

Total return, 1 year +51.0% +43.3%

S&P 500 over the same days +17.3% +17.3%

Gap to the S&P 500 +33.8 pts +26.1 pts

Expense ratio 0.85% 0.65%

Holdings not read by ETFIQ 149

Net assets, DBC as of Oct 8, 2026 and NBCM as of May 31, 2026 $2.0bn $425m

DBC and NBCM on the fields both publish, as of Oct 9, 2026. Source: ETFIQ.

DBC in plain words

DBC holds commodity futures. Over the year to Oct 9, 2026 it returned +51.0% with distributions reinvested. The prospectus expense ratio is 0.85% a year. It sat 14.8% below its high of Jul 2, 2008 on Oct 9, 2026.

NBCM in plain words

NBCM is actively managed and tracks no index. The prospectus expense ratio is 0.65% a year.

Over the year to Oct 9, 2026 it returned +43.3% with distributions reinvested, against +40.2% for its benchmark, the Bloomberg Commodity Index.

Questions people ask

Which returned more over the last year, DBC or NBCM?: In the year to Oct 9, 2026, with distributions reinvested, DBC returned +51.0% and NBCM +43.3%.
Which is cheaper, DBC or NBCM?: NBCM is cheaper, by 0.20 percentage points a year. On $10,000 held for a year that difference is about $20. Fees come from each fund's prospectus.

Other comparisons

BCD vs DBC DBC vs PIT CMDY vs DBC DBC vs FAAR NBCM vs PDBC FTGC vs NBCM CERY vs NBCM BCI vs NBCM

DBC on its own →NBCM on its own →Hold both: look the portfolio through →Rankings →Standards and sources →

Where these figures came from

DBC filings on SEC EDGAR ↗Invesco page for DBC ↗NBCM filings on SEC EDGAR ↗NBCM prospectus with the expense ratio (SEC) ↗Neuberger Berman website ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, DBC against NBCM, data as of Oct 9, 2026. https://etfiq.com/compare/any/dbc-vs-nbcm

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.