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DBP

GradeDNew York Stock Exchange Arca

Invesco DB Precious Metals Fund

Commodities · Invesco · Inception 2007-01-05 · SEC filings

$99.19−2.38 (−2.35%)

As of Sep 23, 2026, 3:03 PM EDT

Intraday session: down, 63 prints from 101.58 to 99.19. Range 98.91 to 99.56. Use the arrow keys to read each point.$99.00$99.40$99.6010 AM12 PM2 PM4 PM
Expense ratio
0.76%
Fund size
$232M
1Y return
+20.8%
Yield · Last 12 months
2.46%
Holdings
5
Volume · 30D
0M sh
NAV per share
$100.69
52W range
low $85.46high $140.76

The ETF.net DBP Grade

D

32/ 100

Rank 21 of 23 in Broad Commodity Futures⁠

Confidence Medium

Six-pillar profile for DBP. Scores out of 100: Cost 36, Risk 21, Mission not scored, Tradability 19, Holdings 46, Durability 60. Strongest: Durability (60). Weakest: Tradability (19). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 32 of 100 sits in the D band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    DScore 36
    Category rank14/23 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    FScore 21
    Category rank20/23 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    FScore 19
    Category rank21/23 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    CScore 46
    Category rank11/15 · mid-pack

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 60
    Category rank10/23 · top 43%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on DBP

ETF.net Research

DGold and silver in one futures wrapper, running since 2007. Rather than rolling into the front-month contract on a calendar, its Deutsche Bank index shops the curve for the best implied roll yield. A commodity pool, not a 1940 Act fund.

Stated mandate

The Fund seeks to track the DBIQ Optimum Yield Precious Metals Index, primarily through commodity futures exposure to gold and silver.

Why people hold it

  1. 01Two metals, one ticker: a rules-based basket of gold and silver futures, rebalanced and reconstituted every November.invesco.com
  2. 02The "Optimum Yield" rule selects the contract with the best implied roll yield, out to 13 months ahead, instead of rolling on a fixed schedule.sec.govsec.gov
  3. 03Live since 2007. Futures are collateralized with Treasuries, money market funds and T-Bill ETFs, so that cash earns interest alongside the index.invesco.com

Worth knowing

  1. 01Charges 0.76% a year, pricier than broad-basket commodity peers such as BCI (0.26%) and CMDY (0.29%).
  2. 02It is a commodity pool, not a fund registered under the 1940 Act, and it issues a Schedule K-1 at tax time rather than a 1099.invesco.com
  3. 03Thinly traded, so spreads can widen. And it holds futures on the metals, not bars in a vault, so curve shape shows up in returns.sec.gov

DBP Holdings

As of Sep 20, 2026, 1:48 PM
Asset class
Other
Holdings
5
Top-10 weight
205%
Largest holding
AGPXX86.5%

Sectors

Geography

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001AGPXXInvesco Government & Agency Portfolio86.51%193,158,306$193M239
002—COMEX Gold 100 Troy Ounces Future 12/29/202679.67%402$178M2
003—COMEX Silver Future 12/29/202618.80%125$42M2
004TBLLInvesco Short Term Treasury ETF9.66%203,900$22M5
005—NYMEX Platinum Future 07/28/20276.01%144$13M2
006—CASH COLLATERAL4.13%9,217,944$9M20
007—USD Pending Dividends0.16%0$354K240

Showing 1–7 of 7 holdings

DBP Performance

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

DBP$12,083
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. DBP $12,083. SPY $11,723. Use the arrow keys to read each point.$8,995$12,880$16,764Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 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 DBP. Periods over one year show the average yearly return.
PeriodDBP
Year to date−1.2%
1 month−5.0%
3 months+4.0%
1 year+20.8%
3 years+31.7%per year
5 years+19.1%per year
10 years+10.9%per year

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 DBP
YearReturn barDBP
2026 YTD−1.2%
2025+73.3%
2024+26.7%
2023+8.7%
2022−1.5%
2021−7.1%
2020+26.8%

DBP in the news

ETF.net Research hasn’t filed on DBP yet — coverage lands here as it’s written.

DBP 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 Sep 22, 2026.
2.46%Last 12 months
Payout per share
$2.50Last 12 months
Last payment
$2.50 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. 7 payments from 2017 to 2026 YTD. Dec 18, 2017 $0.05; Dec 24, 2018 $0.45; Dec 23, 2019 $0.53; Dec 19, 2022 $0.22; Dec 18, 2023 $2.23; Dec 23, 2024 $2.56; Dec 22, 2025 $2.50. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Dec 22, 2025Dec 26, 2025$2.50
Dec 23, 2024Dec 27, 2024$2.56
Dec 18, 2023Dec 22, 2023$2.23
Dec 19, 2022Dec 23, 2022$0.22
Dec 23, 2019Dec 31, 2019$0.53
Dec 24, 2018Dec 31, 2018$0.45
Dec 18, 2017Dec 29, 2017$0.05
Dec 15, 2008Data unavailable$0.27
Dec 17, 2007Data unavailable$0.60

DBP Risk

How much the fund’s monthly returns vary, scaled to a year.
20.5%
Annualised · 36 months to Aug 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.
1.23
vs 3-month T-bills · to Aug 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.
−33.3%
Trough Jul 2026
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.
0.37
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.

DBP Cost

Expense ratio0.76%
  • The middle half of Broad Commodity Futures funds
  • Median 0.72%

12 of the 21 Broad Commodity Futures funds charge less.

DBP costs $76.00 a year on $10,000. The median Broad Commodity Futures fund costs $72.00.