DBP vs. GDE
DBP (Invesco DB Precious Metals Fund) and GDE (WisdomTree Efficient Gold Plus Equity Strategy Fund) are both exchange-traded funds - DBP is a Precious Metals fund tracking the DBIQ Optimum Yield Precious Metals Index Excess Return, while GDE is a Gold fund actively managed by WisdomTree. DBP is passively managed, while GDE is actively managed. Over the past 3 years, DBP returned 29.27%/yr vs 40.84%/yr for GDE. A 0.74 correlation means they provide meaningful diversification when combined. DBP charges 0.78%/yr vs 0.20%/yr for GDE.
Performance
DBP vs. GDE - Performance Comparison
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Returns By Period
In the year-to-date period, DBP achieves a -7.35% return, which is significantly lower than GDE's -0.50% return.
DBP
- 1D
- -2.46%
- 1M
- -11.00%
- YTD
- -7.35%
- 6M
- -11.28%
- 1Y
- 27.61%
- 3Y*
- 29.27%
- 5Y*
- 16.74%
- 10Y*
- 10.50%
GDE
- 1D
- -3.14%
- 1M
- -10.04%
- YTD
- -0.50%
- 6M
- -5.03%
- 1Y
- 37.19%
- 3Y*
- 40.84%
- 5Y*
- —
- 10Y*
- —
DBP vs. GDE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
DBP Invesco DB Precious Metals Fund | -7.35% | 73.43% | 26.71% | 8.68% | -6.52% |
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund | -0.50% | 73.76% | 44.79% | 33.85% | -8.58% |
Correlation
The correlation between DBP and GDE is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Mar 17, 2022 | 0.74 |
The correlation between DBP and GDE shifts across timeframes, from 0.74 (all time) to 0.86 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DBP vs. GDE — Risk / Return Rank
DBP
GDE
DBP vs. GDE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB Precious Metals Fund (DBP) and WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE). 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.
| DBP | GDE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.48 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.24 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.92 | 1.65 | -0.73 |
| Martin ratioReturn relative to average drawdown | 2.25 | 4.59 | -2.34 |
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Drawdowns
DBP vs. GDE - Drawdown Comparison
The maximum DBP drawdown since its inception was -53.89%, which is greater than GDE's maximum drawdown of -32.01%. Use the drawdown chart below to compare losses from any high point for DBP and GDE.
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Drawdown Indicators
| DBP | GDE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.89% | -32.01% | -21.88% |
Max Drawdown (1Y)Largest decline over 1 year | -30.18% | -22.66% | -7.52% |
Max Drawdown (3Y)Largest decline over 3 years | -30.18% | -22.66% | -7.52% |
Max Drawdown (5Y)Largest decline over 5 years | -30.18% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -30.18% | — | — |
Current DrawdownCurrent decline from peak | -30.18% | -19.50% | -10.68% |
Average DrawdownAverage peak-to-trough decline | -25.42% | -7.97% | -17.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.30% | 8.12% | +4.18% |
Volatility
DBP vs. GDE - Volatility Comparison
The current volatility for Invesco DB Precious Metals Fund (DBP) is 8.93%, while WisdomTree Efficient Gold Plus Equity Strategy Fund (GDE) has a volatility of 11.41%. This indicates that DBP experiences smaller price fluctuations and is considered to be less risky than GDE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBP | GDE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.93% | 11.41% | -2.48% |
Volatility (6M)Calculated over the trailing 6-month period | 30.96% | 26.51% | +4.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.62% | 30.33% | +3.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.18% | 27.15% | -5.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.83% | 27.15% | -8.32% |
DBP vs. GDE - Expense Ratio Comparison
DBP has a 0.78% expense ratio, which is higher than GDE's 0.20% expense ratio.
Dividends
DBP vs. GDE - Dividend Comparison
DBP's dividend yield for the trailing twelve months is around 2.63%, less than GDE's 4.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DBP Invesco DB Precious Metals Fund | 2.63% | 2.44% | 4.21% | 4.47% | 0.45% | 0.00% | 0.00% | 1.26% | 1.24% | 0.12% |
GDE WisdomTree Efficient Gold Plus Equity Strategy Fund | 4.34% | 4.32% | 7.14% | 2.22% | 0.81% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DBP and GDE have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GDE has higher volatility (11.41%) compared to DBP (8.93%). In terms of maximum drawdown, DBP dropped -53.89% vs GDE's -32.01%.
On 3-year performance, GDE leads with 40.84% vs 29.27% for DBP. On fees, GDE is cheaper at 0.20% per year. On volatility, DBP has been the lower-risk option at 8.93%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, GDE has performed better with a 40.84% return vs 29.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GDE is cheaper with a 0.20% expense ratio, compared with 0.78% for DBP.
GDE has the higher dividend yield at 4.34%, compared with 2.63% for DBP.
DBP is categorized as Precious Metals, while GDE is Gold. They also come from different issuers: Invesco and WisdomTree. Their fees differ too: 0.78% for DBP and 0.20% for GDE.
GDE currently has the higher Sharpe Ratio (1.23 vs 0.82), 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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