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Launched · SEC filings

Invesco DB Base Metals Fund

DBBNYSE ArcaB

$25.04−0.11 (−0.44%)

At close: Oct 13, 2026, 4:00 PM

B60/ 100

Rank 5 of 15 in Commodity Futures

B60/100Rank 5 of 15inCommodity Futures
Intraday session: down, 79 prints from 25.15 to 25.04. Range 25.02 to 25.16. Use the arrow keys to read each point.25.0725.1025.1310 AM12 PM2 PM4 PM
Expense ratio
0.81%
Fund size
$341M
1Y total return
+24.1%
Yield · Last 12 months
2.38%
Holdings
10
Avg volume · 30D
0.3M sh
NAV per share
$25.09
52W range
low $20.66high $26.71
Launched
Filings
SEC EDGAR

The ETF.net DBB Grade

Based on 5 of 6 pillars

B

Score 60 out of 100

Category
Commodity Futures⁠
Rank
5 of 15
Six-pillar profile for DBB. Scores out of 100: Cost 43, Risk 64, Mission not scored, Tradability 84, Holdings 28, Durability 80. Strongest: Tradability (84). Weakest: Holdings (28). Based on 5 of 6 pillars.

Score 60 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    C43 out of 100
    Rank 9 of 15

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B64 out of 100
    Rank 5 of 15

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A84 out of 100
    Rank 2 of 15

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    D28 out of 100
    Rank 5 of 5

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A80 out of 100
    Rank 2 of 15

Our read on DBB

ETF.net Research

BThe metals that build things, not the ones that sit in vaults. Since 2007 DBB has held futures on industrial metals like copper, aluminum and zinc, with a roll rule that hunts for the best-priced contract instead of always buying the nearest one.

Stated mandate

The fund is designed to track the DBIQ Optimum Yield Industrial Metals Index Excess Return, which reflects changes in the market value of the base-metals sector.

Why people hold it

  1. 01A clean industrial-metals basket: futures on liquid base metals such as aluminum, zinc and copper, with no gold or oil muddying the signal.sec.gov
  2. 02The Optimum Yield roll picks contracts to limit losses when the futures curve slopes up and to capture the benefit when it slopes down, rather than defaulting to the front month.sec.govinvesco.com
  3. 03Trading since January 2007 through several full commodity cycles, and one of the steadier, more liquid names in its futures-commodity peer group.
  4. 04Expense ratio of 0.81%, sitting right at the middle of the futures-based commodity pack (PDBC 0.74%, HARD 0.78%).

Worth knowing

  1. 01It is a commodity pool, so tax time brings a Schedule K-1 instead of a 1099. Peers like PDBC are built specifically to avoid that paperwork.invesco.com
  2. 02Base metals track the global industrial cycle, and the prospectus materials describe the futures markets the fund trades as volatile and speculative.sec.gov
  3. 03Invesco updated the underlying index methodology in November 2025 (wider eligible commodity list, liquidity screens, weight caps), so the metals mix can differ from the historic lineup.invesco.com

DBB Holdings

As of Oct 12, 2026
Asset class
Other
Holdings
10
Top-10 weight
203%
Largest holding
AGPXX92.4%

Sectors

  • Financials100.0%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001AGPXXInvesco Government & Agency Portfolio92.39%307,093,027$307M235
002—LME Primary Aluminum Future 12/14/202627.48%1,199$91M2
003—LME Copper Future 03/15/202726.66%244$89M2
004—COMEX Copper Future 05/26/202724.96%483$83M2
005—LME Nickel Future 09/13/202710.45%359$35M2
006—LME Zinc Future 03/15/20279.22%324$31M2
007—Cash Collateral6.01%19,989,335$20M29
008—LME Lead Future 03/15/20273.86%269$13M2
009—Cash & Equivalents1.51%5,014,441$5M88
010—USD Pending Dividends0.09%0$291K241

Showing 1–10 of 10 holdings

DBB Performance

Launched Jan 5, 2007

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

DBB$12,407
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$12,044
Oct 10, 2025 to Oct 12, 2026. DBB $12,407. SPY $12,044. Use the arrow keys to read each point.$9,496$11,451$13,407Oct 2025Apr 2026Oct 2026

Oct 10, 2025 – Oct 12, 2026

Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for DBB. Periods over one year show the average yearly return.
PeriodDBB
Year to date+9.6%
1 month−1.0%
3 months+2.9%
1 year+24.1%
3 yearsper year+17.1%
5 yearsper year+5.9%
10 yearsper year+8.3%

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for DBB
YearReturn barDBB
2026 YTD+9.6%
2025+25.0%
2024+7.9%
2023+1.1%
2022−11.8%
2021+29.0%
2020+15.5%

DBB in the news

Filtered to DBB · Commodity Futures

DBB Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 12, 2026.
2.38%Last 12 months
Payout per share
$0.60Last 12 months
Last payment
$0.60 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2017–2026

One bar per payment. 6 payments from 2017 to 2026 YTD. Dec 24, 2018 $0.24; Dec 23, 2019 $0.27; Dec 19, 2022 $0.18; Dec 18, 2023 $1.32; Dec 23, 2024 $0.90; Dec 22, 2025 $0.60. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Dec 22, 2025Dec 26, 2025$0.60
Dec 23, 2024Dec 27, 2024$0.90
Dec 18, 2023Dec 22, 2023$1.32
Dec 19, 2022Dec 23, 2022$0.18
Dec 23, 2019Dec 31, 2019$0.27
Dec 24, 2018Dec 31, 2018$0.24
Dec 15, 2008Data unavailable$0.28
Dec 17, 2007Data unavailable$0.96

DBB Risk

How much the fund’s monthly returns vary, scaled to a year.
15.4%
Annualised · 36 months to Sep 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.70
vs 3-month T-bills · to Sep 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−35.0%
Trough Sep 2022
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.49
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

DBB Cost

Expense ratio0.81%
  • The middle half of Commodity Futures funds
  • Median 0.79%

8 of the 14 Commodity Futures funds charge less.

DBB costs $81.00 a year on $10,000. The median Commodity Futures fund costs $79.00.

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