DBB — Invesco DB Base Metals Fund

DBB Price Performance — Growth of $10,000

Value of a $10,000 investment in DBB over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.

DBB Drawdown

The "underwater" chart: DBB's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.

Overview

The Invesco DB Base Metals Fund (DBB) is a commodity-focused ETF issued by Invesco, tracking 22 peers in its category with $347 million in assets. It holds a C grade (59.2/100) and ranks 8th of 22 within the Commodities category, while sitting at #245 of 458 across all tracked ETFs. The fund carries a 0.75% expense ratio, which exceeds the category median of 0.595%, and offers a dividend yield of 2.41%, trailing the median of 2.89%. Holdings breakdown data is not available for this fund.

Over the past year, the fund delivered a 19.71% return, significantly outperforming the category median of 9.06%. Short-term momentum shows divergence, with a 1.10% gain in one day and 0.73% over one week, contrasting with a 4.05% decline over the past month. The price currently sits at $24.88, representing 67.1% of its 52-week trading range. The ETFValuer grade has remained unchanged at C for the last 35 tracked days, based on 3.0 years of price history.

With a beta of 0.44, the fund exhibits lower sensitivity to market movements compared to the broader market. Annualized volatility stands at 19.20%, labeled as Moderate, while the maximum drawdown recorded is -16.59%. A Sharpe ratio of 0.77 suggests reasonable risk-adjusted returns relative to the volatility experienced. Liquidity is supported by an average daily volume of 187,790 shares.

AI-generated summary based on the data on this page.

Market Backdrop

10-Year Treasury Yield: 4.96% (as of 2026-10-22) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.

CBOE Volatility Index (VIX): 19.03 (as of 2026-10-22) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.

Federal Funds Rate: 3.75% (as of 2026-09-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.

DBB Liquidity, Domicile & Tax Treatment

Liquidity: Average daily volume is 188K/day. Higher volume and a larger fund generally mean lower round-trip trading costs. AUM of $347M provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.

Domicile & tax treatment: DBB is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.

DBB Performance History

How DBB Compares to Other Commodities ETFs