DBB vs. PPLT
DBB (Invesco DB Base Metals Fund) and PPLT (abrdn Physical Platinum Shares ETF) are both exchange-traded funds - DBB is a Metals fund tracking the DBIQ Optimum Yield Industrial Metals Index Excess Return, while PPLT is a Precious Metals fund tracking the LBMA Platinum Price PM. Both are passively managed. Over the past 10 years, DBB returned 8.59%/yr vs 4.70%/yr for PPLT. At a 0.40 correlation, their price movements are largely independent. DBB charges 0.80%/yr vs 0.60%/yr for PPLT.
Performance
DBB vs. PPLT - Performance Comparison
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Returns By Period
In the year-to-date period, DBB achieves a 6.67% return, which is significantly higher than PPLT's -19.76% return. Over the past 10 years, DBB has outperformed PPLT with an annualized return of 8.59%, while PPLT has yielded a comparatively lower 4.70% annualized return.
DBB
- 1D
- -3.05%
- 1M
- -5.52%
- YTD
- 6.67%
- 6M
- 9.49%
- 1Y
- 31.53%
- 3Y*
- 16.31%
- 5Y*
- 7.44%
- 10Y*
- 8.59%
PPLT
- 1D
- -1.45%
- 1M
- -14.37%
- YTD
- -19.76%
- 6M
- -28.09%
- 1Y
- 27.10%
- 3Y*
- 20.79%
- 5Y*
- 7.90%
- 10Y*
- 4.70%
DBB vs. PPLT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DBB Invesco DB Base Metals Fund | 6.67% | 25.01% | 7.90% | 1.15% | -11.80% | 28.97% | 15.53% | -1.17% | -19.47% | 30.09% |
PPLT abrdn Physical Platinum Shares ETF | -19.76% | 124.48% | -8.90% | -8.18% | 10.43% | -10.75% | 10.78% | 20.85% | -14.95% | 2.38% |
Correlation
The correlation between DBB and PPLT is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.43 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Jan 8, 2010 | 0.40 |
The correlation between DBB and PPLT shifts across timeframes, from 0.38 (10 years) to 0.54 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DBB vs. PPLT — Risk / Return Rank
DBB
PPLT
DBB vs. PPLT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB Base Metals Fund (DBB) and abrdn Physical Platinum Shares ETF (PPLT). 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 | PPLT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.17 | ||
| Sortino ratioReturn per unit of downside risk | +1.32 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.14 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.88 | 0.67 | +2.21 |
| Martin ratioReturn relative to average drawdown | 10.30 | 1.48 | +8.82 |
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Drawdowns
DBB vs. PPLT - Drawdown Comparison
The maximum DBB drawdown since its inception was -60.20%, smaller than the maximum PPLT drawdown of -70.73%. Use the drawdown chart below to compare losses from any high point for DBB and PPLT.
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Drawdown Indicators
| DBB | PPLT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.20% | -70.73% | +10.53% |
Max Drawdown (1Y)Largest decline over 1 year | -11.00% | -40.69% | +29.69% |
Max Drawdown (3Y)Largest decline over 3 years | -16.59% | -40.69% | +24.10% |
Max Drawdown (5Y)Largest decline over 5 years | -35.00% | -40.69% | +5.69% |
Max Drawdown (10Y)Largest decline over 10 years | -37.98% | -51.14% | +13.16% |
Current DrawdownCurrent decline from peak | -8.11% | -40.69% | +32.58% |
Average DrawdownAverage peak-to-trough decline | -30.82% | -39.93% | +9.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.07% | 18.34% | -15.27% |
Volatility
DBB vs. PPLT - Volatility Comparison
The current volatility for Invesco DB Base Metals Fund (DBB) is 5.98%, while abrdn Physical Platinum Shares ETF (PPLT) has a volatility of 11.41%. This indicates that DBB experiences smaller price fluctuations and is considered to be less risky than PPLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBB | PPLT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.98% | 11.41% | -5.43% |
Volatility (6M)Calculated over the trailing 6-month period | 16.24% | 45.28% | -29.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.63% | 50.70% | -32.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.26% | 32.68% | -12.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.51% | 29.18% | -10.67% |
DBB vs. PPLT - Expense Ratio Comparison
DBB has a 0.80% expense ratio, which is higher than PPLT's 0.60% expense ratio.
Dividends
DBB vs. PPLT - Dividend Comparison
DBB's dividend yield for the trailing twelve months is around 2.45%, while PPLT has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBB Invesco DB Base Metals Fund | 2.45% | 2.61% | 4.75% | 7.21% | 0.94% | 0.00% | 0.00% | 1.83% | 1.59% |
PPLT abrdn Physical Platinum Shares ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DBB and PPLT have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PPLT has higher volatility (11.41%) compared to DBB (5.98%). In terms of maximum drawdown, DBB dropped -60.20% vs PPLT's -70.73%.
On 10-year performance, DBB leads with 8.59% vs 4.70% for PPLT. On fees, PPLT is cheaper at 0.60% per year. On volatility, DBB has been the lower-risk option at 5.98%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DBB has performed better with a 8.59% return vs 4.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PPLT is cheaper with a 0.60% expense ratio, compared with 0.80% for DBB.
DBB has the higher dividend yield at 2.45%, compared with 0.00% for PPLT.
DBB is categorized as Metals, while PPLT is Precious Metals. DBB tracks DBIQ Optimum Yield Industrial Metals Index Excess Return, while PPLT tracks LBMA Platinum Price PM. They also come from different issuers: Invesco and abrdn. Their fees differ too: 0.80% for DBB and 0.60% for PPLT.
DBB currently has the higher Sharpe Ratio (1.70 vs 0.54), 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.
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