Another advantage of DBC’s diversified approach, which potentially speaks to allocating a higher percentage of a portfolio to the fund when inflation is high, is that diversity ensures some reduction in correlations. For example, the Invesco DB Commodity Index Tracking Fund (DBC) is up more than 30% year-to-date while the S&P 500 and nearly every bond exchange traded fund on the market are in the red. Of course, high oil prices help the commodities complex because crude is one of the most consumed and heavily traded commodities, but it’s not the only driver of DBC upside.