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DBP — Invesco DB Precious Metals Fund

Data as of 2026-09-21 · US · Commodities · window 2016-09-21 → 2026-09-21 (10.0 years) · returns assume dividends reinvested, net of fund fees · Market Data from Tiingo.com

What the history says

DBP
Total return+181.2%
Annualised (CAGR)+10.9%
Volatility (annualised)+17.0%
Sharpe (rf = 0)0.64
Deepest drawdown-33.3%
Drawdown peak → trough2026-01-28 → 2026-07-16

Over the 10.0 years to 2026-09-21 the fund returned +181.2% in total (+10.9% a year), with a deepest drawdown of -33.3% from 2026-01-28 to 2026-07-16. Its worst calendar year was 2016 (-15.5%), its best 2025 (+73.3%).

Every calendar year

Calendar-year returns (net of fees, dividends reinvested)
YearDBP
2026-2.0%
2025+73.3%
2024+26.7%
2023+8.7%
2022-1.5%
2021-7.1%
2020+26.8%
2019+15.9%
2018-4.3%
2017+10.6%
2016-15.5%

What this page does not say

It does not say DBP is a good or bad fund, and it is not a forecast. Returns above are history: they already include dividends and already exclude the fund's own fees. A drawdown of -33.3% means an investor who bought at the peak would have watched that much value disappear before it recovered — how long that takes is the part most tables leave out.

Run your own window, add fees or a second fund: open DBP in the tool. History is shown as history, never sold as a forecast.

More in US · Commodities: UGA · GLD · AAAU · all fund pages