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CERY vs DBP

State Street SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF

CERYANYSE Arca

Invesco DB Precious Metals Fund

DBPDNYSE Arca

Overlap

0.0%by weight

Expense ratio

CERY −0.48pt a year

CERY0.28%DBP0.76%

Avg volume · 30D

CERY 14.3×the volume

CERY216KDBP15.1K

CERY vs DBP Performance

Oct 31, 2025 – Nov 2, 2026

+40.0%CERY−1.9%DBP

Oct 31, 2025 to Nov 2, 2026. CERY +40.0%. DBP −1.9%. Use the arrow keys to read each point.10%20%30%50%Oct 2025May 2026Nov 2026
Expense ratio
CERY 0.28%, better
DBP 0.76%
Fund size
CERY $1.27B
DBP $204M
1Y total return
CERY +40.0%, better
DBP −1.9%
Yield (12M)
CERY 3.67%, better
DBP 2.84%
Holdings
CERY 12
DBP 8
Avg volume (30D)
CERY 216K sh, better
DBP 15.1K sh
NAV per share
CERY $39.89
DBP $86.62
52W range

ETF.net Grade

CERY: Cost 84, Risk 66, Mission not scored, Tradability 75, Holdings not scored, Durability 64. DBP: Cost 32, Risk 11, Mission not scored, Tradability 26, Holdings 45, Durability 60.
Pillar letters and Scores for CERY, DBP, with each pillar’s weight
PillarCERYDBP
Cost30% weightA84HigherD32
Mission25% weightNot scoredNot scored
Risk15% weightB66HigherF11
Tradability15% weightA75HigherD26
Holdings10% weightNot scoredC45
Durability5% weightB64HigherB60

Rank among Broad Commodity Futures funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. CERY and DBP are both graded against the same 21 Broad Commodity Futures funds, so their Grades compare head to head.

Broad Commodity Futures⁠

Category · 21 funds
See all 21 ›

CERY ranks 1st and DBP 20th of 21 funds in the Broad Commodity Futures Category.

  1. Rank 1ACERYState Street SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETFScore 76
  2. Rank 2ACMDYiShares Bloomberg Roll Select Commodity Strategy ETFScore 69
  3. Rank 19DUSCIUnited States Commodity Index FundScore 32
  4. Rank 20DDBPInvesco DB Precious Metals FundScore 30
  5. Rank 21FKRBNKraneShares Global Carbon Strategy ETFScore 13

Our read on each fund

ETF.net Research

CERYAState Street SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF

DBPDInvesco DB Precious Metals Fund

In short

CERY Broad commodity exposure without the K-1 envelope. CERY tracks Bloomberg's Enhanced Roll Yield index, a rules-based long-only basket held through synthetic futures, and charges 0.28% in a category where the typical fee is far higher.

DBP Gold 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

CERY The fund seeks to track the Bloomberg Enhanced Roll Yield Total Return Index, which represents diversified, long-only exposure to broad commodities through synthetic futures positions.

DBP 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

  • CERY Costs 0.28% a year against a category norm nearer 0.68%. Fees bite hard in commodity futures funds, where there are no dividends to paper over the drag.
  • Tracks Bloomberg's Enhanced Roll Yield index: rules-based, long-only commodity exposure via synthetic futures. Roll mechanics come from index design, not a manager's call.ssga.com
  • Built as a 1940 Act fund, so shareholders get a 1099 rather than the partnership K-1 that many commodity futures vehicles send.ssga.com
  • Sits with BCI and BCD at the low-fee end of the broad commodity futures group and rates among the strongest implementations in it.
  • DBP 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

  • CERY Launched in 2024, so the record is short. The roll rules have not been tested across a full commodity cycle yet.
  • Long-only by design. There is no short side, so a broad commodity downturn passes straight through to the fund.
  • Distributions come once or twice a year. This is commodity price exposure, not a paycheck.
  • DBP 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

Full CERY profile⁠

Full DBP profile⁠

CERY vs DBP Holdings

How CERY and DBP differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of CERY and 0.0% of DBP.

Level by level

  • Asset classCommodities, Alternatives0.0%
  • Holdings0 in both0.0%

Sector

No Sector split for CERY.

Country, concentration and asset class

Country by domicile

No country split for CERY.

Concentration

Weight in the 10 largest Holdings

  • CERY99.4%
  • DBP188.9%

Securities held

  • CERY3
  • DBP2

Asset class

CERY
Commodities
DBP
Alternatives

Holdings

  • Only in CERY3
  • In both0
  • Only in DBP2

Only in CERY

3 securities, 19.6% of CERY by weight

  • Treasury Bill 12/26 0.000009.20%
  • Treasury Bill 11/26 0.000007.22%
  • Trs USD Berytr3.18%

Only in DBP

2 securities, 87.5% of DBP by weight

  • Invesco Government & Agency Portfolio78.04%
  • Invesco Short Term Treasury ETF9.42%

Weight gaps

CERY and DBP share no securities.

All 9 CERY holdings⁠All 5 DBP holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

CERY vs DBP Cost

Overpaying DBP vs CERY

$8,901

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

  • CERY 0.28%

    $5,755

  • DBP 0.76%

    $14,656

$10,000
30 years

Cost over time

  • CERY 0.28%
  • DBP 0.76%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530DBP $14,656CERY $5,755

Year by year

YearCERYDBPOverpaying
10$509$1,353$844
20$1,976$5,142$3,166
30$5,755$14,656$8,901

Expense ratio

  • 0.28%CERY, cheaper
  • 0.76%DBP
  • Middle half of Broad Commodity Futures funds
  • Median 0.68%

CERY 3rd cheapest of 21 funds

DBP 14th cheapest of 21 funds

CERY vs DBP Dividends

Last 12 months to Nov 2, 2026
Yield (12M)
CERY 3.67%, better
DBP 2.84%
Payout (12M)
CERY $1.43
DBP $2.50
Last payment
CERY $1.43
DBP $2.50
Ex-dividend
CERY Dec 29, 2025
DBP Dec 22, 2025
Paid on
CERY Dec 31, 2025
DBP Dec 26, 2025
Frequency
CERY Annual
DBP Annual

Distribution history

Per share, 2017 to 2026, same scale for both

CERYAnnual · 2 paymentsAll CERY payments⁠
One bar per payment. 2 payments from 2017 to 2026 YTD. Dec 27, 2024 $0.14; Dec 29, 2025 $1.43. Use the arrow keys to read each point.$0$2.502017202020232026YTD
DBPAnnual · 7 paymentsAll DBP payments⁠
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.$0$2.502017202020232026YTD

CERY vs DBP Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
CERY 14.0%since Oct 2024DBP 21.7%
Return per unit of riskSharpe ratio, 3 years
CERY 1.41since Oct 2024DBP 0.90
Worst fallMax drawdown, 5 years
CERY −14.3%since Sep 2024DBP −36.6%
Market sensitivityBeta, 5 years
CERY 0.03DBP 0.37

CERY and DBP in the news

All news⁠

Popular comparisons

  • CERYAvsCMDYA

    State Street SPDR Bloomberg Enhanced Roll Yield Commodity Strategy No K-1 ETF · iShares Bloomberg Roll Select Commodity Strategy ETF

    Expense ratio
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    Category
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  • DBPDvsCMDYA

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  • DBPDvsSDMFB

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    Expense ratio
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    Category
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