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Launched · SEC filings

Invesco DB Precious Metals Fund

DBPNYSE ArcaD

$95.13−0.37 (−0.39%)

As of Oct 13, 2026, 3:59 PM

D33/ 100

Rank 19 of 23 in Broad Commodity Futures

D33/100Rank 19 of 23inBroad Commodity Futures
Intraday session: down, 75 prints from 95.50 to 95.13. Range 94.67 to 95.83. Use the arrow keys to read each point.94.7595.0095.7510 AM12 PM2 PM4 PM
Expense ratio
0.76%
Fund size
$226M
1Y total return
+6.3%
Yield · Last 12 months
2.62%
Holdings
7
Avg volume · 30D
0M sh
NAV per share
$96.07
52W range
low $90.01high $140.76
Launched
Filings
SEC EDGAR

The ETF.net DBP Grade

Based on 5 of 6 pillars

D

Score 33 out of 100

Category
Broad Commodity Futures⁠
Rank
19 of 23
Six-pillar profile for DBP. Scores out of 100: Cost 36, Risk 19, Mission not scored, Tradability 27, Holdings 41, Durability 60. Strongest: Durability (60). Weakest: Risk (19). Based on 5 of 6 pillars.

Score 33 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.
    D36 out of 100
    Rank 14 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.
    F19 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.
    D27 out of 100
    Rank 19 of 23

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    C41 out of 100
    Rank 12 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 10 of 23

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 Oct 12, 2026
Asset class
Other
Holdings
7
Top-10 weight
199%
Largest holding
AGPXX81.0%

Sectors

  • Financials100.0%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001AGPXXInvesco Government & Agency Portfolio81.04%185,195,270$185M235
002—COMEX Gold 100 Troy Ounces Future 12/29/202676.02%412$174M2
003—COMEX Silver Future 12/29/202617.10%128$39M2
004—Cash Collateral9.48%21,662,037$22M29
005TBLLInvesco Short Term Treasury ETF9.43%203,900$22M5
006—NYMEX Platinum Future 07/28/20275.58%147$13M2
007—USD Pending Dividends0.08%0$174K241

Showing 1–7 of 7 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$10,625
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. DBP $10,625. SPY $12,044. Use the arrow keys to read each point.$9,376$12,201$15,027Oct 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 DBP. Periods over one year show the average yearly return.
PeriodDBP
Year to date−7.1%
1 month−4.7%
3 months+1.1%
1 year+6.3%
3 yearsper year+30.7%
5 yearsper year+17.8%
10 yearsper year+11.1%

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−7.1%
2025+73.3%
2024+26.7%
2023+8.7%
2022−1.5%
2021−7.1%
2020+26.8%

DBP in the news

Filtered to DBP · Broad Commodity Futures

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 12, 2026.
2.62%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.
20.7%
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.
1.20
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.
−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 0.70%

13 of the 22 Broad Commodity Futures funds charge less.

DBP costs $76.00 a year on $10,000. The median Broad Commodity Futures fund costs $70.50.

Other funds in Broad Commodity Futures

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