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Launched · SEC filings

Invesco DB Precious Metals Fund

DBPNYSE ArcaInvescoD

$88.05+1.57 (+1.81%)

As of Nov 2, 2026, 3:59 PM ET

D30/ 100

Rank 21 of 23 in Broad Commodity Futures

D30/100Rank 21 of 23inBroad Commodity Futures
Intraday session: up, 79 prints from 86.48 to 88.05. Range 87.91 to 88.61. Use the arrow keys to read each point.87.0087.5088.5010 AM12 PM2 PM4 PM
Expense ratio
0.76%
Fund size
$204M
1Y total return
−3.7%
Yield · Last 12 months
2.90%
Holdings
8
Avg volume · 30D
15.1K sh
52W range
low $86.27high $140.76
Launched
Filings
SEC EDGAR

The ETF.net DBP Grade

Based on 5 of 6 pillars

D

Score 30 out of 100

Category
Broad Commodity Futures⁠
Rank
21 of 23
Six-pillar profile for DBP. Scores out of 100: Cost 32, Risk 12, Mission not scored, Tradability 26, Holdings 45, Durability 60. Strongest: Durability (60). Weakest: Risk (12). Based on 5 of 6 pillars.

Score 30 of 100 falls in the D 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.
    D32 out of 100
    Rank 15 of 23

  • 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.
    F12 out of 100
    Rank 20 of 23

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D26 out of 100
    Rank 20 of 23

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C45 out of 100
    Rank 10 of 15

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B60 out of 100
    Rank 9 of 23

Our read on DBP

ETF.net Research

In short

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

  • Two metals, one ticker: a rules-based basket of gold and silver futures, rebalanced and reconstituted every November.invesco.com
  • The "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 2
  • Live 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

  • Charges 0.76% a year, pricier than broad-basket commodity peers such as BCI (0.26%) and CMDY (0.29%).
  • It 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
  • Thinly 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

Holdings pillarC45 out of 100Rank 10 of 15 in Broad Commodity Futures
Asset class
Other
Holdings
8
Top-10 weight
192%
Largest holding
AGPXX78.8%

Sectors

  • Financials100.0%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1AGPXXInvesco Government & Agency Portfolio78.76%180,144,222$180M230
2No dataCOMEX Gold 100 Troy Ounces Future 12/29/202672.80%413$166M2
3No dataCOMEX Silver Future 12/29/202614.66%128$33.5M2
4No dataCash Collateral11.04%25,248,511$25.2M26
5TBLLInvesco Short Term Treasury ETF9.41%203,900$21.5M6
6No dataNYMEX Platinum Future 07/28/20274.92%147$11.3M2
7No dataCash & Equivalents0.54%1,235,826$1.24M88
8No dataUSD Pending Dividends0.24%0$554K242

Showing 1–8 of 8 holdings

DBP 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.

DBP$9,634
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. DBP $9,634. SPY $11,199. Use the arrow keys to read each point.$10,000$12,000$14,000Oct 2025May 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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−15.9%
1 month−9.5%
3 months−6.9%
1 year−3.7%
3 yearsper year+24.0%
5 yearsper year+14.9%
10 yearsper year+9.8%

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−15.9%
2025+73.3%
2024+26.7%
2023+8.7%
2022−1.5%

DBP in the news

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 Oct 30, 2026.
2.90%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, 2008No data$0.27
Dec 17, 2007No data$0.60

— Pay date not on file.

$10,000 in DBP 10 years ago paid $2,142 in dividends.

DBP Risk

Risk pillarF12 out of 100Rank 20 of 23 in Broad Commodity Futures
How much the fund’s monthly returns vary, scaled to a year.
21.7%
Annualised · 36 months to Oct 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.
0.90
vs 3-month T-bills · to Oct 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.
−36.6%
Trough Oct 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.

FMP measures it over up to five years of monthly returns.

DBP Cost

Compare DBP and SDMF

Overpaying vs SDMF, cheapest in Broad Commodity Futures

$10,299

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • DBP 0.76%

    $14,656

  • SDMF 0.21% Cheapest

    $4,357

$10,000
30 years

Cost over time

  • DBP 0.76%
  • SDMF 0.21%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530DBP $14,656SDMF $4,357

Year by year

YearDBPSDMFOverpaying
10$1,353$383$970
20$5,142$1,491$3,651
30$14,656$4,357$10,299

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