DBP vs. GOLI
DBP (Invesco DB Precious Metals Fund) and GOLI (Defiance Gold Enhanced Options Income ETF) are both exchange-traded funds - DBP is a Precious Metals fund tracking the DBIQ Optimum Yield Precious Metals Index Excess Return, while GOLI is a Derivative Income fund actively managed by Defiance. DBP is passively managed, while GOLI is actively managed. Over the past year, DBP returned 24.83% vs 4.70% for GOLI. Their correlation of 0.84 means they have usually moved in the same direction. DBP charges 0.73%/yr vs 0.99%/yr for GOLI.
Performance
DBP vs. GOLI - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with DBP having a -9.61% return and GOLI slightly lower at -9.80%.
DBP
- 1D
- -1.56%
- 1M
- -2.23%
- 6M
- -19.86%
- YTD
- -9.61%
- 1Y
- 24.83%
- 3Y*
- 27.17%
- 5Y*
- 15.89%
- 10Y*
- 9.64%
- ALL TIME*
- 8.09%
GOLI
- 1D
- -0.96%
- 1M
- -0.36%
- 6M
- -12.09%
- YTD
- -9.80%
- 1Y
- 4.70%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 2.90%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.17M | $2.70M | $1.86M | |
| $229.39K | $245.33K | $424.44K |
DBP vs. GOLI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DBP Invesco DB Precious Metals Fund | -9.61% | 47.66% |
GOLI Defiance Gold Enhanced Options Income ETF | -9.80% | 15.16% |
Correlation
The correlation between DBP and GOLI is 0.84, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.84 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2025 | 0.84 |
The correlation between DBP and GOLI has been stable across timeframes, ranging from 0.84 to 0.84 - a consistent structural relationship.
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Return for Risk
DBP vs. GOLI — Risk / Return Rank
DBP
GOLI
DBP vs. GOLI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB Precious Metals Fund (DBP) and Defiance Gold Enhanced Options Income ETF (GOLI). 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 | GOLI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.60 | ||
| Sortino ratioReturn per unit of downside risk | +0.73 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.07 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.82 | 0.19 | +0.63 |
| Martin ratioReturn relative to average drawdown | 1.69 | 0.51 | +1.18 |
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Drawdowns
DBP vs. GOLI - Drawdown Comparison
The maximum DBP drawdown since its inception was -53.89%, which is greater than GOLI's maximum drawdown of -25.88%. Use the drawdown chart below to compare losses from any high point for DBP and GOLI.
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Drawdown Indicators
| DBP | GOLI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.89% | -25.88% | -28.01% |
Max Drawdown (1Y)Largest decline over 1 year | -33.30% | -25.88% | -7.42% |
Max Drawdown (3Y)Largest decline over 3 years | -33.30% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -33.30% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -33.30% | — | — |
Current DrawdownCurrent decline from peak | -31.89% | -19.79% | -12.10% |
Average DrawdownAverage peak-to-trough decline | -25.45% | -5.73% | -19.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.07% | 9.51% | +6.56% |
Volatility
DBP vs. GOLI - Volatility Comparison
Invesco DB Precious Metals Fund (DBP) has a higher volatility of 7.19% compared to Defiance Gold Enhanced Options Income ETF (GOLI) at 4.89%. This indicates that DBP's price experiences larger fluctuations and is considered to be riskier than GOLI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBP | GOLI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.19% | 4.89% | +2.30% |
Volatility (6M)Calculated over the trailing 6-month period | 29.20% | 23.40% | +5.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.26% | 25.21% | +9.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.45% | 22.98% | -1.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.94% | 22.98% | -4.04% |
DBP vs. GOLI - Expense Ratio Comparison
DBP has a 0.73% expense ratio, which is lower than GOLI's 0.99% expense ratio.
Dividends
DBP vs. GOLI - Dividend Comparison
DBP's dividend yield for the trailing twelve months is around 2.69%, less than GOLI's 49.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DBP Invesco DB Precious Metals Fund | 2.69% | 2.44% | 4.21% | 4.47% | 0.45% | 0.00% | 0.00% | 1.26% | 1.24% | 0.12% |
GOLI Defiance Gold Enhanced Options Income ETF | 49.92% | 37.38% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DBP and GOLI have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBP has higher volatility (7.19%) compared to GOLI (4.89%). In terms of maximum drawdown, DBP dropped -53.89% vs GOLI's -25.88%.
On 1-year performance, DBP leads with 24.83% vs 4.70% for GOLI. On fees, DBP is cheaper at 0.73% per year. On volatility, GOLI has been the lower-risk option at 4.89%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DBP has performed better with a 24.83% return vs 4.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DBP is cheaper with a 0.73% expense ratio, compared with 0.99% for GOLI.
GOLI has the higher dividend yield at 49.92%, compared with 2.69% for DBP.
DBP is categorized as Precious Metals, while GOLI is Derivative Income. They also come from different issuers: Invesco and Defiance. Their fees differ too: 0.73% for DBP and 0.99% for GOLI.
DBP currently has the higher Sharpe Ratio (0.79 vs 0.19), 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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