DBP vs. MFIC

Last updated Jun 4, 2026

DBP (Invesco DB Precious Metals Fund) is Precious Metals fund tracking the DBIQ Optimum Yield Precious Metals Index Excess Return, while MFIC (MidCap Financial Investment Corporation) is a stock. Over the past 10 years, DBP returned 12.31%/yr vs 7.83%/yr for MFIC. At a 0.08 correlation, their price movements are largely independent.

Performance

DBP vs. MFIC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco DB Precious Metals Fund (DBP) and MidCap Financial Investment Corporation (MFIC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DBP achieves a 2.13% return, which is significantly higher than MFIC's -6.27% return. Over the past 10 years, DBP has outperformed MFIC with an annualized return of 12.31%, while MFIC has yielded a comparatively lower 7.83% annualized return.

DBP

• 1D: -1.42%
• 1M: -1.48%
• YTD: 2.13%
• 6M: 8.68%
• 1Y: 42.65%
• 3Y*: 32.54%
• 5Y*: 17.43%
• 10Y*: 12.31%

MFIC

• 1D: -4.32%
• 1M: -14.19%
• YTD: -6.27%
• 6M: -9.35%
• 1Y: -9.73%
• 3Y*: 7.31%
• 5Y*: 5.13%
• 10Y*: 7.83%

*Multi-year figures are annualized to reflect compound growth (CAGR)

DBP vs. MFIC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DBP Invesco DB Precious Metals Fund	2.13%	73.43%	26.71%	8.68%	-1.51%	-7.10%	26.79%	15.89%	-4.31%	10.58%
MFIC MidCap Financial Investment Corporation	-6.27%	-4.34%	11.25%	35.48%	0.19%	33.67%	-28.54%	56.97%	-18.11%	6.51%

Correlation

The correlation between DBP and MFIC is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.04
Correlation (5Y) Calculated over the trailing 5-year period	0.08
Correlation (10Y) Calculated over the trailing 10-year period	0.05
Correlation (All Time) Calculated using the full available price history since Jan 8, 2007	0.08

The correlation between DBP and MFIC shifts across timeframes, from -0.08 (1 year) to 0.08 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

DBP vs. MFIC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DBP

DBP Risk / Return Rank: 34
DBP Sharpe Ratio Rank: 36
DBP Sortino Ratio Rank: 30
DBP Omega Ratio Rank: 40
DBP Calmar Ratio Rank: 34
DBP Martin Ratio Rank: 28

MFIC

MFIC Risk / Return Rank: 21
MFIC Sharpe Ratio Rank: 22
MFIC Sortino Ratio Rank: 21
MFIC Omega Ratio Rank: 21
MFIC Calmar Ratio Rank: 26
MFIC Martin Ratio Rank: 17

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DBP vs. MFIC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco DB Precious Metals Fund (DBP) and MidCap Financial Investment Corporation (MFIC). 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.

	DBP	MFIC	Difference
Sharpe ratio: Return per unit of total volatility	1.32	-0.42	+1.73
Sortino ratio: Return per unit of downside risk	1.65	-0.43	+2.08
Omega ratio: Gain probability vs. loss probability	1.26	0.95	+0.32
Calmar ratio: Return relative to maximum drawdown	1.68	-0.42	+2.10
Martin ratio: Return relative to average drawdown	4.01	-1.12	+5.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DBP vs. MFIC - Sharpe Ratio Comparison

The current DBP Sharpe Ratio is 1.32, which is higher than the MFIC Sharpe Ratio of -0.42. The chart below compares the historical Sharpe Ratios of DBP and MFIC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DBP	MFIC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.32	-0.42	+1.73
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	0.23	+0.61
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.66	0.26	+0.40
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.14	+0.29

Drawdowns

DBP vs. MFIC - Drawdown Comparison

The maximum DBP drawdown since its inception was -53.89%, smaller than the maximum MFIC drawdown of -87.97%. Use the drawdown chart below to compare losses from any high point for DBP and MFIC.

Drawdown Indicators

	DBP	MFIC	Difference
Max Drawdown Largest peak-to-trough decline	-53.89%	-87.97%	+34.08%
Max Drawdown (1Y) Largest decline over 1 year	-25.48%	-23.46%	-2.02%
Max Drawdown (3Y) Largest decline over 3 years	-25.48%	-26.97%	+1.49%
Max Drawdown (5Y) Largest decline over 5 years	-25.48%	-26.97%	+1.49%
Max Drawdown (10Y) Largest decline over 10 years	-28.36%	-67.77%	+39.41%
Current Drawdown Current decline from peak	-23.04%	-18.08%	-4.96%
Average Drawdown Average peak-to-trough decline	-25.42%	-17.53%	-7.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.67%	8.69%	+1.98%

Volatility

DBP vs. MFIC - Volatility Comparison

The current volatility for Invesco DB Precious Metals Fund (DBP) is 7.57%, while MidCap Financial Investment Corporation (MFIC) has a volatility of 7.99%. This indicates that DBP experiences smaller price fluctuations and is considered to be less risky than MFIC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DBP	MFIC	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.57%	7.99%	-0.42%
Volatility (6M) Calculated over the trailing 6-month period	29.87%	20.13%	+9.74%
Volatility (1Y) Calculated over the trailing 1-year period	32.57%	23.38%	+9.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.91%	22.80%	-1.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.72%	30.03%	-11.31%

Dividends

DBP vs. MFIC - Dividend Comparison

DBP's dividend yield for the trailing twelve months is around 2.38%, less than MFIC's 13.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DBP Invesco DB Precious Metals Fund	2.38%	2.44%	4.21%	4.47%	0.45%	0.00%	0.00%	1.26%	1.24%	0.12%	0.00%	0.00%
MFIC MidCap Financial Investment Corporation	13.94%	13.29%	12.75%	11.11%	12.37%	11.26%	15.25%	10.31%	14.52%	10.60%	11.95%	15.33%

Frequently Asked Questions

Can I hold both DBP and MFIC in my portfolio?

DBP and MFIC have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DBP or MFIC?

MFIC has higher volatility (7.99%) compared to DBP (7.57%). In terms of maximum drawdown, DBP dropped -53.89% vs MFIC's -87.97%.

Which has better risk-adjusted returns?

DBP currently has the higher Sharpe Ratio (1.32 vs -0.42), 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.