Overview
Food prices themselves — corn, soybeans, wheat, sugar, cattle and coffee futures in one diversified agricultural basket, the direct way to own what groceries cost.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| CASH | Invesco Short-Term Gov & Agency Fund | 41.4% |
| FUT | Soybean futures | 7.1% |
| FUT | Live Cattle futures | 6.8% |
| FUT | Corn futures | 6.6% |
| TBLL | Invesco Short Term Treasury ETF | 4.8% |
| FUT | Feeder Cattle futures | 3.4% |
| FUT | Soybean Oil futures | 3.3% |
| FUT | Wheat futures | 3.3% |
| CASH | Futures cash collateral | 3.2% |
| FUT | Sugar futures | 3.2% |
Fund Details
Investment Thesis
The inflation hedge most portfolios skip: agricultural commodities respond to weather, diesel and geopolitics rather than Fed policy, making DBA's returns genuinely uncorrelated to both stocks and bonds. +7.5% in a quiet crop year, +33% in 2024's squeeze — the fund's job is being long food scarcity when it matters. Climate volatility makes supply shocks structural, not cyclical, and the futures basket collects on every one.
Who It's For
Portfolio diversifiers who want direct food-price exposure as an uncorrelated inflation hedge — the commodity sleeve's agricultural side, held through the quiet years.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $19.97 | -- |
| 2017 | $18.76 | -6.1% |
| 2018 | $16.94 | -9.7% |
| 2019 | $16.56 | -2.2% |
| 2020 | $16.14 | -2.5% |
| 2021 | $19.75 | +22.4% |
| 2022 | $20.15 | +2.0% |
| 2023 | $20.74 | +2.9% |
| 2024 | $26.59 | +28.2% |
| 2025 | $25.52 | -4.0% |
| Year | Yield |
|---|---|
| 2016 | 0.00% |
| 2017 | 0.00% |
| 2018 | 1.06% |
| 2019 | 1.57% |
| 2020 | 0.00% |
| 2021 | 0.00% |
| 2022 | 0.49% |
| 2023 | 4.58% |
| 2024 | 4.09% |
| 2025 | 3.61% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $0.9B | -- |
| 2017 | $0.8B | -11.1% |
| 2018 | $0.7B | -12.5% |
| 2019 | $0.7B | +0.0% |
| 2020 | $0.7B | +0.0% |
| 2021 | $0.9B | +28.6% |
| 2022 | $0.9B | +0.0% |
| 2023 | $1.0B | +11.1% |
| 2024 | $1.3B | +30.0% |
| 2025 | $1.3B | +0.0% |
Price history from exchange data. Dividend yields from reported distributions; some earlier years are derived from total-return vs price-return data or are ETFHub estimates. AUM history is an ETFHub estimate modelled from current assets and annual returns (fund flows not reflected) and may differ from official fund records. Data as of October 2026.
Related Materials & Resources ETFs
Markets. Intelligence. Daily.
Full briefs on 500+ ETFs, curated daily ETF news, and a free weekly deep-dive newsletter — all on ETFHub.
Get the Free Weekly Brief Explore the ETF Portal Official Fund Page →