DBB vs. PICK
DBB (Invesco DB Base Metals Fund) and PICK (iShares MSCI Global Metals & Mining Producers ETF) are both Metals funds - DBB tracks the DBIQ Optimum Yield Industrial Metals Index Excess Return while PICK tracks the MSCI ACWI Select Metals & Mining Producers ex Gold and Silver Investable Market Index. Both are passively managed. Over the past 10 years, DBB returned 7.86%/yr vs 15.55%/yr for PICK. A 0.56 correlation means they provide meaningful diversification when combined. DBB charges 0.80%/yr vs 0.39%/yr for PICK.
Performance
DBB vs. PICK - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, DBB achieves a 4.53% return, which is significantly lower than PICK's 13.69% return. Over the past 10 years, DBB has underperformed PICK with an annualized return of 7.86%, while PICK has yielded a comparatively higher 15.55% annualized return.
DBB
- 1D
- -1.19%
- 1M
- -7.66%
- YTD
- 4.53%
- 6M
- 6.67%
- 1Y
- 26.91%
- 3Y*
- 15.61%
- 5Y*
- 6.73%
- 10Y*
- 7.86%
PICK
- 1D
- -0.14%
- 1M
- -11.69%
- YTD
- 13.69%
- 6M
- 14.29%
- 1Y
- 56.77%
- 3Y*
- 16.33%
- 5Y*
- 9.87%
- 10Y*
- 15.55%
DBB vs. PICK - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DBB Invesco DB Base Metals Fund | 4.53% | 25.01% | 7.90% | 1.15% | -11.80% | 28.97% | 15.53% | -1.17% | -19.47% | 30.09% |
PICK iShares MSCI Global Metals & Mining Producers ETF | 13.69% | 51.89% | -16.37% | 9.69% | 2.54% | 22.61% | 27.46% | 16.47% | -18.65% | 38.42% |
Correlation
The correlation between DBB and PICK is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.66 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.60 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2012 | 0.56 |
The correlation between DBB and PICK shifts across timeframes, from 0.56 (all time) to 0.69 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
DBB vs. PICK — Risk / Return Rank
DBB
PICK
DBB vs. PICK - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB Base Metals Fund (DBB) and iShares MSCI Global Metals & Mining Producers ETF (PICK). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| DBB | PICK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.47 | ||
| Sortino ratioReturn per unit of downside risk | -0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.33 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.46 | 2.92 | -0.46 |
| Martin ratioReturn relative to average drawdown | 8.16 | 10.31 | -2.15 |
Loading charts...
Drawdowns
DBB vs. PICK - Drawdown Comparison
The maximum DBB drawdown since its inception was -60.20%, smaller than the maximum PICK drawdown of -68.87%. Use the drawdown chart below to compare losses from any high point for DBB and PICK.
Loading charts...
Drawdown Indicators
| DBB | PICK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.20% | -68.87% | +8.67% |
Max Drawdown (1Y)Largest decline over 1 year | -11.00% | -19.54% | +8.54% |
Max Drawdown (3Y)Largest decline over 3 years | -16.59% | -32.52% | +15.93% |
Max Drawdown (5Y)Largest decline over 5 years | -35.00% | -36.37% | +1.37% |
Max Drawdown (10Y)Largest decline over 10 years | -37.98% | -52.72% | +14.74% |
Current DrawdownCurrent decline from peak | -9.95% | -15.33% | +5.38% |
Average DrawdownAverage peak-to-trough decline | -30.80% | -24.05% | -6.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.31% | 5.52% | -2.21% |
Volatility
DBB vs. PICK - Volatility Comparison
The current volatility for Invesco DB Base Metals Fund (DBB) is 6.54%, while iShares MSCI Global Metals & Mining Producers ETF (PICK) has a volatility of 12.58%. This indicates that DBB experiences smaller price fluctuations and is considered to be less risky than PICK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| DBB | PICK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.54% | 12.58% | -6.04% |
Volatility (6M)Calculated over the trailing 6-month period | 16.55% | 26.61% | -10.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.91% | 30.06% | -11.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.31% | 28.15% | -7.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.52% | 28.29% | -9.77% |
DBB vs. PICK - Expense Ratio Comparison
DBB has a 0.80% expense ratio, which is higher than PICK's 0.39% expense ratio.
Dividends
DBB vs. PICK - Dividend Comparison
DBB's dividend yield for the trailing twelve months is around 2.50%, more than PICK's 2.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBB Invesco DB Base Metals Fund | 2.50% | 2.61% | 4.75% | 7.21% | 0.94% | 0.00% | 0.00% | 1.83% | 1.59% | 0.00% | 0.00% | 0.00% |
PICK iShares MSCI Global Metals & Mining Producers ETF | 2.28% | 2.88% | 3.26% | 4.19% | 6.93% | 5.89% | 2.27% | 5.51% | 4.77% | 2.41% | 1.15% | 15.77% |
Frequently Asked Questions
DBB and PICK have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PICK has higher volatility (12.58%) compared to DBB (6.54%). In terms of maximum drawdown, DBB dropped -60.20% vs PICK's -68.87%.
On 10-year performance, PICK leads with 15.55% vs 7.86% for DBB. On fees, PICK is cheaper at 0.39% per year. On volatility, DBB has been the lower-risk option at 6.54%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PICK has performed better with a 15.55% return vs 7.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PICK is cheaper with a 0.39% expense ratio, compared with 0.80% for DBB.
DBB has the higher dividend yield at 2.50%, compared with 2.28% for PICK.
DBB tracks DBIQ Optimum Yield Industrial Metals Index Excess Return, while PICK tracks MSCI ACWI Select Metals & Mining Producers ex Gold and Silver Investable Market Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.80% for DBB and 0.39% for PICK.
PICK currently has the higher Sharpe Ratio (1.90 vs 1.43), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for DBB and PICK
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer