DGL

Invesco DB Gold Fund
C

61
*Unless otherwise stated, data provided by FactSet.

DGL Fund Description

The Invesco DB Gold Fund tracks an index of gold futures contracts. To minimize contango, it optimizes its contract selection based on the shape of the futures curve.

DGL Factset Analytics Insight

There are many ETFs that offer exposure to the gold market, but DGL uses a unique strategy. It does not hold physical bullion, but uses a proprietary formula to select futures contracts to minimize contango. As such, DGL is not designed to track the current price of gold. However, no matter how good DGL is at approximating the spot market, it will always have to roll into new contracts that are converging to spot, exposing it to contango (or backwardation in the unlikely event that the curve turns around). Fees are high for this sector, considerably higher than with a physically held gold fund, and because it is a commodities pool investors will be taxed at the blended commodities rate. Daily trading volume is only middling, but spreads are narrow. It may not be the choice for everyone, but it is a different way to play gold, and seems to have filled a niche in the segment.

DGL CHARTS AND PERFORMANCE

Price Chart ($)
Total Return Chart (%)
  • 1 Month
  • 3 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Max
  • 1 Month
  • 3 Months
  • YTD
  • 1 Year
  • 3 Years
  • 5 Years
  • Max
COMPARE
RESET
Select ETFs to compare their performance:
PERFORMANCE [as of 07/12/18] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
DGL -3.96% -6.98% -4.96% 1.24% 0.95% -1.93% 1.03%
DGL (NAV) -3.98% -7.29% -5.39% 1.06% 1.04% -1.87% 1.07%
Gold Spot -- -- -- -- -- -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

DGL Top 10 Holdings

DGL Summary Data

Invesco
Invesco DB
01/05/07
Commodities Pool
0.78%
$140.60M
$1.94M
0.16%

DGL Portfolio Data

Futures
Optimized
N/A
--

DGL Index Data

Single Asset
Single Asset
Gold Spot

DGL Portfolio Management

0.78%
-1.00%
-0.63%
-1.23%

DGL Tax Exposures

27.84% / 27.84%
--
Yes

DGL Fund Structure

Commodities Pool
No
N/A
N/A
N/A
Low
Daily
Bats Book Viewer
TOP OF BOOK
LAST 10 TRADES
Bats BZX Real-time Quote -
Daily Spread
Premium/Discount
Volume

DGL Factset Analytics Block Liquidity

As of 07/18/18
5
4
3
2
1

This measurement shows how easy it is to trade a $1 million USD block of DGL. DGL is rated a 5 out of 5.

DGL Tradability

47,521
$1.94M
10,926
$448.47K
0.16%
$0.06
0.00%
0.88% / -1.15%
None
100.00%
200,000
0.05
0.01%
--
64
$38.66
5

DGL SECTOR BREAKDOWN


DGL
Segment Benchmark
100.00%
100.00%

DGL TOP 10 TARGETED COMMODITY WEIGHTS

56.36%
31.63%
4.69%
3.36%
3.34%
0.62%
100%

DGL Tenor Strategy

DGL's optimized tenor selection uses a rules-based strategy for choosing contracts over the next 13 months that will give the best possible implied roll yield.

DGL Rolling Strategy

DGL rolls contracts between the 2nd and 6th business days each month.

DGL Performance Statistics

0.52
0.86
0.97
0.91
0.01%