DBP

Invesco DB Precious Metals Fund
*Unless otherwise stated, data provided by FactSet.

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.

PERFORMANCE [as of 11/23/21] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
DBP -0.81% -0.74% -8.23% -3.65% 12.42% 6.65% -1.75%
DBP (NAV) 0.29% 1.84% -6.75% -4.68% 12.60% 6.48% -1.73%
S&P GSCI Precious Metals Index -- -- -- -- -- -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

DBP Summary Data

Invesco
Invesco DB
01/05/07
Commodities Pool
0.78%
$117.61M
$371.34K
0.18%

DBP Portfolio Data

Futures
Optimized
Annually
9

DBP Index Data

DBIQ Optimum Yield Precious Metals Index
Fixed
Fixed
S&P GSCI Precious Metals Index

DBP Portfolio Management

0.78%
--
--
--

DBP Tax Exposures

27.84% / 27.84%
--
Yes

DBP Fund Structure

Commodities Pool
No
N/A
N/A
N/A
Low
Daily

DBP Factset Analytics Block Liquidity

As of 11/25/21
5
4
3
2
1

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 Tradability

7,687
$371.34K
3,793
$182.98K
0.18%
$0.09
-0.02%
1.24% / -1.83%
None
100.00%
200,000
0.02
0.01%
--
24
$49.00
5

DBP Sector Breakdown


DBP
Segment Benchmark
100.00%
100.00%

DBP Top 10 Targeted Commodity Weights

55.52%
12.97%
4.32%
4.32%
3.46%
3.46%
3.46%
2.59%
100.00%

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.

DBP Performance Statistics

--
--
1.07
1.07
0.00%