DBC
Invesco DB Commodity Index Tracking FundDBC Fund Description
DBC tracks an index of 14 commodities. It uses futures contracts to maintain exposure and selects them based on the shape of the futures curve to minimize contango.
DBC Factset Analytics Insight
DBC thoughtfully addresses the two thorniest problems in commodities: weighting and roll costs. The most market-like approach, production weighting, allocates heavily to consumables like oil at the expense of storables like gold. DBC threads the needle by capping energy’s economic dominance at 60%, yet allowing for a diversified portfolio. DBC aims to turn short-term contracts into a long-term investment carefully, by picking the cheapest of the tenors available for each of its contracts. This mitigates roll costs, but in cases where DBC selects long-term contracts, it can sacrifice responsiveness to short-term price movements. Note that DBC’s approach tends to trail our vanilla benchmark with its steep expense ratio creating a high hurdle to break-even. DBC's awesome liquidity, however, helps it win Analyst Pick. Expect a K-1 at tax time.
DBC CHARTS AND PERFORMANCE
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DBC Top 10 Holdings
DBC Summary Data
DBC Portfolio Data
DBC Index Data
DBC Portfolio Management
DBC Tax Exposures
DBC Fund Structure
DBC Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of DBC. DBC is rated a 5 out of 5.
DBC Tradability
DBC SECTOR BREAKDOWN
DBC
DBC TOP 10 TARGETED COMMODITY WEIGHTS
DBC Tenor Strategy
DBC's optimized tenor selection uses a rules-based strategy for choosing contracts over the next 13 months that will give the best possible implied roll yield.
DBC Rolling Strategy
DBC rolls contracts between the 2nd and 6th business days each month.
DBC Performance Statistics
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