DBC vs BCI ETF comparison
DBC vs BCI
DBC holds futures contracts on 27 commodities in the DBIQ Optimum Yield index and fills the rest of the fund with Treasury bills and cash, and BCI holds futures on the 24 commodities of the Bloomberg Commodity Index. The two funds follow different indexes. The DBIQ Optimum Yield Diversified Commodity Index Excess Return buys futures on 27 commodities and rolls them toward the contract month with the best expected roll yield, tracking the excess return version of the index.
The Bloomberg Commodity Index Total Return caps any one commodity or sector so oil cannot dominate, which gives it more gold and farm products than a production-weighted index. DBC charges 0.82% and BCI charges 0.26%. This page lines up what each fund holds by commodity, how much they overlap, what each paid and how each performed, with the date next to every number.
DBC vs BCI, the short answer
DBC and BCI differ in what they hold and what they charge. The two funds follow different indexes. The DBIQ Optimum Yield Diversified Commodity Index Excess Return buys futures on 27 commodities and rolls them toward the contract month with the best expected roll yield, tracking the excess return version of the index.
The Bloomberg Commodity Index Total Return caps any one commodity or sector so oil cannot dominate, which gives it more gold and farm products than a production-weighted index. Expense ratios are 0.82% and 0.26%. NAV total returns, annualized (DBC to Oct 31, 2026, BCI to Sep 30, 2026): 1 year 52.50% vs 39.78%; 3 years 16.35% vs 15.15%; 5 years 12.67% vs 10.63%. Neither is better for everyone; the choice turns on cost, tax form (K-1 or 1099), and what you already own.
DBC vs BCI overlap, if you own both
DBC · ten largest holdings
As of Nov 9, 2026- 1Brent crude CO18.93%Both
- 2WTI crude CL16.00%Both
- 3Gold GC9.22%Both
- 4Gasoil QS6.55%Both
- 5Copper HG5.71%Both
- 6Heating oil HO5.61%Only here
- 7Gasoline XB3.65%Only here
- 8Soybeans S3.39%Both
- 9Aluminum LA3.26%Both
- 10Live cattle LC3.25%Only here
Ten largest total 75.6%
BCI · ten largest holdings
As of Oct 31, 2026 sectors- 1Gold GC11.05%Both
- 2Brent crude CO11.05%Both
- 3Natural gas NG9.51%Only here
- 4WTI crude CL8.78%Both
- 5Copper HG5.58%Both
- 6Corn C5.30%Only here
- 7Soybeans S5.14%Both
- 8Gasoil QS3.82%Both
- 9Aluminum LA3.48%Both
- 10Silver SI2.93%Only here
Ten largest total 66.6%
Shared by both · 7 commodities
| Commodity | DBC weight | BCI weight | Gap |
|---|---|---|---|
| Brent crude CO | 18.93% | 11.05% | +7.88 pts |
| WTI crude CL | 16.00% | 8.78% | +7.22 pts |
| Gold GC | 9.22% | 11.05% | -1.83 pts |
| Gasoil QS | 6.55% | 3.82% | +2.73 pts |
| Copper HG | 5.71% | 5.58% | +0.13 pts |
| Soybeans S | 3.39% | 5.14% | -1.75 pts |
| Aluminum LA | 3.26% | 3.48% | -0.22 pts |
Only in DBC’s top ten: Heating oil, Gasoline, Live cattle. Only in BCI’s top ten: Natural gas, Corn, Silver.
The twist
75.4% of the exposure sits in commodities both funds hold (matched by commodity, issuer holdings dated Nov 9, 2026 and Oct 31, 2026 sectors), and 7 commodities appear in both top-ten lists. Holding both repeats more than half of the same exposure, so the second fund mostly adds weight to what you already own.
DBC vs BCI, one goal, which fund?
DBC vs BCI, where the money goes
DBC · Invesco, Nov 9, 2026
BCI · abrdn, Oct 31, 2026 sectors
DBC vs BCI returns compared over 1, 3, 5 and 10 years
DBC vs BCI, what each fund costs a year
The data room
Every figure behind the DBC vs BCI cards above, with its source, date and evidence grade. Open the issuer documents before relying on any number.
DBC vs BCI key facts
Evidence grade: Issuer issuer page · Mixed issuer plus provider · 3rd party| Metric | DBC | BCI | Grade and source |
|---|
Portfolio characteristics
| Metric | DBC | BCI | Grade and source |
|---|
Net assets are dated Nov 9, 2026 for both funds (DBC $1.77B; BCI $3.28B). Figures that the issuers do not publish, such as beta, standard deviation and 52-week range, are left as Not captured rather than estimated.
DBC vs BCI holdings and top ten
Click a commodity tile · DBC: Invesco, Nov 9, 2026 · BCI: abrdn, Oct 31, 2026 sectorsTile area is proportional to weight.
| # | Commodity | Weight |
|---|
| # | Commodity | Weight |
|---|
Top ten sums: DBC 75.6% · BCI 66.6%. 7 shared top-ten commodities. Weights change.
DBC vs BCI sector exposure
DBC: Nov 9, 2026 · BCI: Oct 31, 2026 sectorsThe sector mirror
Same funds, different lenses
Contracts and collateral
Both funds hold futures contracts, not physical commodities. DBC lists 27 commodities and BCI lists 25. Each contract expires and is replaced (rolled) before it ends, and the cash backing the contracts sits in Treasury bills, money market funds and similar holdings. That collateral earns interest and is not counted in the commodity weights here.
What you actually own
DBC vs BCI performance
Matched dates, DBC to Oct 31, 2026, BCI to Sep 30, 2026; issuer NAV rows dated separatelyReturn rows come from the issuer pages and are dated Oct 31, 2026 for DBC and Sep 30, 2026 for BCI, so they are not matched and no return leader is named. NAV returns include fees; market price and benchmark returns are shown beside them where the issuer published them, and gaps are marked Not captured. “Since inception” starts in different years (DBC 2006, BCI 2017). Past performance does not guarantee future results.
Growth of a hypothetical $10,000 · NAV total return, DBC to Oct 31, 2026, BCI to Sep 30, 2026
Both funds derived from issuer NAV total returns on matched dates (compounded). Distributions reinvested; fund expenses are already in NAV. Illustration, not a forecast.
DBC vs BCI yield, dividends and dividend growth
Yield and distribution facts| Measure | DBC | BCI |
|---|---|---|
| 30-day SEC yield | Not reported | Not reported |
| Trailing 12-month | 2.36% 12-month distribution rate (Nov 6, 2026) | Not captured |
| Paid, last 12 months | $0.744 per share | Not captured |
| Frequency | Annual | Not captured |
Distribution frequency: DBC annual, BCI not captured. Per-share payouts differ because share prices differ, so compare yields rather than dollars. Payouts depend on Treasury interest earned on collateral and on how each fund is structured, and some payouts are classed as return of capital. Payouts captured: DBC 2, BCI 0; gaps are marked Not captured. See what is dividend yield and yield vs total return.
DBC vs BCI concentration and overlap
Ten largest positions · shared holdingsRank by rank, the ten largest commodities of each fund, as a share of futures exposure. Top five: DBC 56.4%, BCI 46.0%. Top ten: DBC 75.6%, BCI 66.6%.
DBC vs BCI trading and liquidity
Issuer fund pages · Nov 9, 2026The issuers report bid/ask spreads of 0.03% for DBC and 0.04% for BCI (measures differ by issuer; see each fund page). A spread of 0.05% is about $50 between the buy and sell price on $100,000, so check the live quote before you trade.
Commodity prices can swing sharply when oil or metals move, so spreads can widen on volatile days. Use limit orders for large trades and avoid the first and last minutes of the session. See creation, redemption and trading for how NAV, premiums and spreads arise.
DBC vs BCI expense ratio and fees in dollars
As stated by each issuer| Balance | DBC (0.82%) | BCI (0.26%) | Gap per year |
|---|---|---|---|
| $10,000 | $82 | $26 | $56 |
| $50,000 | $410 | $130 | $280 |
| $100,000 | $820 | $260 | $560 |
Expense ratio is taken from fund assets, not billed. Net expense ratios are shown (DBC: total 0.89% before a 0.07% waiver; BCI: total 0.26%). Fees exclude the bid/ask spread, any premium or discount to NAV, brokerage commissions and taxes.
DBC vs BCI, how each fund gets its commodity exposure
Index approach, in plain languageDBC · DBIQ Optimum Yield Diversified Commodity Index Excess Return
DBC tracks the DBIQ Optimum Yield Diversified Commodity Index Excess Return. It holds futures on about 27 commodities and was launched in 2006; the ten largest commodities total 75.6% of futures exposure. Index rules and rebalance dates are in the fund’s prospectus.
BCI · Bloomberg Commodity Index Total Return
BCI tracks the Bloomberg Commodity Index Total Return. It holds futures on about 25 commodities and was launched in 2017; the ten largest commodities total 66.6% of futures exposure. Index rules and rebalance dates are in the fund’s prospectus.
Exact eligibility rules, caps and rebalance dates sit in each prospectus and index methodology; read them before relying on this summary.
DBC vs BCI, why yield and returns differ
Sector mix explains much of the gapThe two funds follow different indexes. The DBIQ Optimum Yield Diversified Commodity Index Excess Return buys futures on 27 commodities and rolls them toward the contract month with the best expected roll yield, tracking the excess return version of the index. The Bloomberg Commodity Index Total Return caps any one commodity or sector so oil cannot dominate, which gives it more gold and farm products than a production-weighted index.
DBC follows the DBIQ Optimum Yield Diversified Commodity Index Excess Return and BCI uses the Bloomberg Commodity Index Total Return. Because commodity funds hold futures, the return comes from three sources: the change in commodity prices, the roll yield or cost as contracts are replaced, and interest earned on the collateral. Differences in contract choice, roll timing and collateral income explain most of the gap between funds with similar baskets, and fees explain the rest.
How to decide between DBC and BCI
A step-by-step frameworkStart with what separates them: The two funds follow different indexes. The DBIQ Optimum Yield Diversified Commodity Index Excess Return buys futures on 27 commodities and rolls them toward the contract month with the best expected roll yield, tracking the excess return version of the index.
The Bloomberg Commodity Index Total Return caps any one commodity or sector so oil cannot dominate, which gives it more gold and farm products than a production-weighted index. Then check what you already own: the funds overlap by 75.4%, so holding both adds little.
- Step 1 · Structure: DBC holds futures contracts on 27 commodities in the DBIQ Optimum Yield index and fills the rest of the fund with Treasury bills and cash; BCI holds futures on the 24 commodities of the Bloomberg Commodity Index.
- Step 2 · Cost: DBC 0.82% vs BCI 0.26% net expense ratio.
- Step 3 · Tax form: DBC issues a Schedule K-1; BCI issues a 1099. This matters most for tax-advanced accounts and for Canadian investors.
- Step 4 · Overlap: use the Diversification Calculator against what you own.
Size the position against your whole portfolio. Commodity funds are volatile and behave differently from stocks and bonds, so they usually play a small, deliberate role.
DBC vs BCI for Canadian investors
Currency, withholding tax and account typeDBC and BCI are U.S.-listed and trade in U.S. dollars, so buying them from a Canadian account usually involves converting Canadian dollars, which adds a cost on both entry and exit. A move in the U.S. dollar also changes your return in Canadian dollars.
Tax treatment depends on the structure. A fund that files a Schedule K-1 can create extra reporting for a Canadian holder and may not suit an RRSP or TFSA, while a fund that issues a 1099 is simpler. Confirm the rules for your account with a tax professional. This is general education, not tax advice.
Risks of DBC and BCI
What can go wrongShared risks
- Commodity prices can swing sharply: oil, metals and crops respond to supply shocks, weather, politics and demand, and a broad commodity fund can fall while stocks rise.
- Futures funds can lose value when the market is in contango, because rolling into a more expensive contract costs money even if the spot price does not change.
- Energy is 53% of DBC and 39% of BCI, so oil and fuel prices drive a large share of the result.
- Commodities produce no earnings or dividends of their own; returns come from price changes, roll yield and interest on collateral.
Fund-specific risks
- DBC: ten largest commodities total 75.6% of futures exposure (Nov 9, 2026); exposure to 27 commodities.
- BCI: ten largest commodities total 66.6% of futures exposure (Oct 31, 2026 sectors); exposure to 25 commodities.
- DBC: files a Schedule K-1 and its Dec 2025 payout was reported as return of capital. BCI: uses Bloomberg index weights with a K-1 free structure; abrdn publishes sector weights only.
- Both: not registered as ordinary stock funds; see each prospectus for legal form and the risks of futures.
DBC vs BCI taxes and account placement
General education, not tax adviceDBC is a commodity pool that issues a Schedule K-1 each year, and futures gains in a K-1 fund are generally taxed under the 60/40 rule, with 60% treated as long-term and 40% as short-term regardless of how long you hold. BCI is marketed as K-1 free and issues a standard 1099, but income from its holdings can be taxed as ordinary income. Issuer pages list after-tax returns only for some funds, and gaps are marked Not captured.
For Canadian account types and withholding tax, see the Canadian section above. Confirm the rules for your account with a tax professional, and read how to build an ETF portfolio.
Other ETFs people compare
For context, not recommendationsInvestors comparing DBC and BCI often also look at the other broad commodity funds in this group: DBC, PDBC, GSG, USCI, BCI and COMT. See the other commodity ETFs comparisons and the ETF research hub.
DBC vs BCI drawdown arithmetic
What a decline means in dollarsRecovery gain = decline ÷ (1 − decline). The scenarios use illustrative declines of 10%, 20% and 30% so you can see what a drop does to each fund. They are a rough guide to a bad year, not a worst-case figure. See the Position Size Calculator.
Tools to compare DBC vs BCI
Static weights from this pageIgnores taxes, spreads and holdings differences. ETF Fee Calculator.
Check shared exposure with the Diversification Calculator.
DBC vs BCI, which fits which job
Characteristics, not recommendationsDBC may suit investors who want…
Passive exposure to 27 commodity futures, with a Schedule K-1.
Strengths
- Futures on 27 commodities
- Exchange-traded and priced all day
- Holdings dated on this page
Watch points
- Higher fee: 0.82% against 0.26%
- Heavier top ten: 75.6% against 66.6%
- Not a complete portfolio
- Futures roll costs
BCI may suit investors who want…
Capped, balanced commodity exposure with more gold and farm products.
Strengths
- Lower fee: 0.26% against 0.82%
- Futures on 25 commodities
- Flatter top ten: 66.6% against 75.6%
- Exchange-traded and priced all day
Watch points
- Not a complete portfolio
- Futures roll costs
DBC vs BCI investor scenarios
Characteristics that fit, not recommendationsDBC vs BCI key terms
Plain-language definitions
DBC vs BCI, frequently asked questions
Answers use the figures and dates shown aboveIs DBC or BCI better?
In the DBC vs BCI question, neither is better for everyone. DBC and BCI differ in what they hold and what they charge. The two funds follow different indexes. The DBIQ Optimum Yield Diversified Commodity Index Excess Return buys futures on 27 commodities and rolls them toward the contract month with the best expected roll yield, tracking the excess return version of the index.
The Bloomberg Commodity Index Total Return caps any one commodity or sector so oil cannot dominate, which gives it more gold and farm products than a production-weighted index. Expense ratios are 0.82% and 0.26%. NAV total returns, annualized (DBC to Oct 31, 2026, BCI to Sep 30, 2026): 1 year 52.50% vs 39.78%; 3 years 16.35% vs 15.15%; 5 years 12.67% vs 10.63%. Neither is better for everyone; the choice turns on cost, tax form (K-1 or 1099), and what you already own.
DBC vs BCI, what are the expense ratios?
DBC charges 0.82% and BCI charges 0.26%, which is $82 and $26 a year per $10,000.
DBC vs BCI, how much do the funds overlap?
About 75.4% of the exposure is held by both funds, matched by commodity in issuer holdings dated Nov 9, 2026 and Oct 31, 2026 sectors. 7 commodities appear in both top-ten lists.
DBC vs BCI, what does each ETF track?
DBC tracks the DBIQ Optimum Yield Diversified Commodity Index Excess Return. BCI tracks the Bloomberg Commodity Index Total Return.
DBC vs BCI, what are the top commodities?
DBC (Nov 9, 2026): Brent crude 18.93%, WTI crude 16.0%, Gold 9.22%, Gasoil 6.55%, Copper 5.71%. BCI (Oct 31, 2026 sectors): Gold 11.05%, Brent crude 11.05%, Natural gas 9.51%, WTI crude 8.78%, Copper 5.58%.
DBC vs BCI, which has performed better?
NAV total returns, annualized (DBC to Oct 31, 2026, BCI to Sep 30, 2026): 1 year 52.50% vs 39.78%; 3 years 16.35% vs 15.15%; 5 years 12.67% vs 10.63%. Returns depend on commodity prices, roll yield and collateral income, and past performance does not guarantee future results.
DBC vs BCI, can I own both?
On DBC vs BCI, you can, but they overlap by about 75.4%. 7 top-ten commodities are shared. Holding both repeats more than half of the same exposure, so the second fund mostly adds weight to what you already own.
DBC vs BCI, how often do the funds pay dividends?
Distribution frequency: DBC annual, BCI not captured. Distribution rates are 2.36% 12-month distribution rate trailing for DBC and not captured for BCI; check each issuer page for the schedule.
DBC vs BCI, are they suitable for Canadian investors?
On DBC vs BCI, both are U.S.-listed and trade in U.S. dollars, so Canadians face currency conversion costs. DBC issues a Schedule K-1 and BCI issues a 1099, which can change reporting. Treatment differs across TFSA, RRSP and taxable accounts. This is general education, not tax advice.
DBC vs BCI, how do the funds differ by sector?
DBC (Nov 9, 2026): energy 52.9%, agriculture 16.9%, industrial metals 11.8%. BCI (Oct 31, 2026 sectors): energy 38.9%, agriculture 29.1%, precious metals 14.0%.
DBC vs BCI documents and sources
Open the issuer documents before relying on any figureDBC · Invesco
BCI · abrdn
Third-party sources
Invesco DBC fund page · abrdn BCI fund page.
Methodology and limits
- DBC figures come from Invesco fund pages and BCI figures from abrdn fund pages.
- Dates are shown beside each figure; the issuer documents are linked below.
- Overlap is the sum of the smaller weight of each commodity held by both funds. Treasury bills, cash and swaps used as collateral are excluded, and the dates and bases differ, so treat the overlap as an estimate. Weights are shares of each fund’s futures exposure by underlying commodity, so Treasury bills, cash and collateral are excluded. DBC weights are computed from the Nov 9, 2026 futures holdings by adding contracts on the same commodity and dividing by total futures exposure. BCI publishes sector weights only (Oct 31, 2026), so Bloomberg Commodity Index 2026 target weights were rescaled to match abrdn’s sector weights.
- This page shows livestock as its own group for every fund.
- Figures that were unavailable (beta, standard deviation, 52-week range, calendar-year returns) are left as Not captured, and nothing was filled from memory or from another fund.
- Growth of $10,000 is derived from annualized NAV total returns on matched dates; dollar values are approximate.
- Returns are issuer-reported NAV total returns (dates shown beside each figure), with market price and benchmark figures where published.
Educational research, not personalized investment, tax or legal advice, and not a recommendation to buy or sell any fund. Investing involves risk, including loss of principal. Past performance does not guarantee future results. Calculators are hypothetical illustrations. Fund data are provided as published by the sources named and may differ from current figures.