Key stats
About Invesco DB Precious Metals Fund
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Inception date
Jan 5, 2007
Structure
Commodities Pool
Dividend treatment
Distributes
Distribution tax treatment
No distributions
Income tax type
60/40
Max ST capital gains rate
27.84%
Max LT capital gains rate
27.84%
Primary advisor
Invesco Capital Management LLC
Distributor
Invesco Distributors, Inc.
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.
Classification
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
What's in the fund
Exposure type
Mutual fund
Government
ETF
Bonds, Cash & Other100.00%
Mutual fund49.81%
Government32.55%
ETF12.78%
Cash4.87%
Top 10 holdings
Dividends
Dividend payout history