DBPInvesco DB Precious Metals Fund
DBP Fund Description
DBP tracks an index of gold and silver futures contracts. It optimizes its contract selection based on the shape of the futures curve to minimize contango.
DBP Factset Analytics Insight
DBP is the first precious-metals ETF, and it tracks a rules-based index composed of futures contracts on two of the well-known precious metals, gold and silver. The underlying index is designed to reduce the effects of contango by selecting futures contracts that, by its rule, have the highest implied roll yield for each commodity. Like our benchmark, it allocates over 80% of its portfolio to gold and the remainder to silver, ignoring platinum and palladium. The only big difference between DBP and our benchmark is that DBP holds contract based on the shape of the futures curve, while our benchmark uses a simple front-month futures strategy. Structured as a commodity pool, investors should expect a K-1 at tax time. The fund and the index are rebalanced and reconstituted annually in November.
DBP Summary Data
DBP Portfolio Data
DBP Index Data
DBP Portfolio Management
DBP Tax Exposures
DBP Fund Structure
DBP Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of DBP. DBP is rated a 5 out of 5.
DBP Sector Breakdown
DBP Top 10 Targeted Commodity Weights
DBP Tenor Strategy
DBP'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.
DBP Rolling Strategy
DBP rolls contracts between the 2nd and 6th business days each month.