DBSInvesco DB Silver Fund
DBS Fund Description
DBS tracks an index of silver futures contracts. It optimizes its contract selection based on the shape of the futures curve to minimize contango.
DBS Factset Analytics Insight
DBS suffers from the dubious distinction of being the most expensive way to access silver in an ETP form. DBS gets its access in the form of futures contracts, which may perhaps be the reason behind its higher fee (physical silver ETFs can be held for as little as 30 bps). DBS' dynamic contract selection is based on those contracts that it expects to experience the least amount of contango and, upon maturity, rolls its exposure to the new most-attractive contract. Unsurprisingly, the fund has not performed much like our silver spot price benchmark. It has, in fact, underperformed slightly over every time period we look at. The underperformance could turn around if silver goes into backwardation, but for now, physical silver ETFs are probably a better way to go.
DBS Summary Data
DBS Portfolio Data
DBS Index Data
DBS Portfolio Management
DBS Tax Exposures
DBS Fund Structure
DBS Factset Analytics Block Liquidity
This measurement shows how easy it is to trade a $1 million USD block of DBS. DBS is rated a 5 out of 5.
DBS Sector Breakdown
DBS Top 10 Targeted Commodity Weights
DBS Tenor Strategy
DBS'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.
DBS Rolling Strategy
DBS rolls contracts between the 2nd and 6th business days each month.