DBP vs. PLTM
DBP (Invesco DB Precious Metals Fund) and PLTM (GraniteShares Platinum Trust) are both Precious Metals funds - DBP tracks the DBIQ Optimum Yield Precious Metals Index Excess Return while PLTM tracks the Platinum London PM Fix ($/ozt). Both are passively managed. Over the past 5 years, DBP returned 16.74%/yr vs 7.99%/yr for PLTM. A 0.58 correlation means they provide meaningful diversification when combined. DBP charges 0.78%/yr vs 0.50%/yr for PLTM.
Performance
DBP vs. PLTM - Performance Comparison
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Returns By Period
In the year-to-date period, DBP achieves a -7.35% return, which is significantly higher than PLTM's -19.61% 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%
PLTM
- 1D
- -1.49%
- 1M
- -14.13%
- YTD
- -19.61%
- 6M
- -27.97%
- 1Y
- 27.29%
- 3Y*
- 21.01%
- 5Y*
- 7.99%
- 10Y*
- —
DBP vs. PLTM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
DBP Invesco DB Precious Metals Fund | -7.35% | 73.43% | 26.71% | 8.68% | -1.51% | -7.10% | 26.79% | 15.89% | -5.51% |
PLTM GraniteShares Platinum Trust | -19.61% | 124.46% | -8.91% | -8.10% | 10.83% | -10.52% | 10.87% | 20.76% | -20.92% |
Correlation
The correlation between DBP and PLTM is 0.75, 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 | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.64 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.62 |
Correlation (All Time) Calculated using the full available price history since Feb 5, 2018 | 0.58 |
The correlation between DBP and PLTM shifts across timeframes, from 0.58 (all time) to 0.75 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DBP vs. PLTM — Risk / Return Rank
DBP
PLTM
DBP vs. PLTM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB Precious Metals Fund (DBP) and GraniteShares Platinum Trust (PLTM). 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 | PLTM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.29 | ||
| Sortino ratioReturn per unit of downside risk | +0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.14 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.92 | 0.67 | +0.24 |
| Martin ratioReturn relative to average drawdown | 2.25 | 1.49 | +0.76 |
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Drawdowns
DBP vs. PLTM - Drawdown Comparison
The maximum DBP drawdown since its inception was -53.89%, which is greater than PLTM's maximum drawdown of -42.32%. Use the drawdown chart below to compare losses from any high point for DBP and PLTM.
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Drawdown Indicators
| DBP | PLTM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.89% | -42.32% | -11.57% |
Max Drawdown (1Y)Largest decline over 1 year | -30.18% | -40.62% | +10.44% |
Max Drawdown (3Y)Largest decline over 3 years | -30.18% | -40.62% | +10.44% |
Max Drawdown (5Y)Largest decline over 5 years | -30.18% | -40.62% | +10.44% |
Max Drawdown (10Y)Largest decline over 10 years | -30.18% | — | — |
Current DrawdownCurrent decline from peak | -30.18% | -40.62% | +10.44% |
Average DrawdownAverage peak-to-trough decline | -25.42% | -18.66% | -6.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.30% | 18.37% | -6.07% |
Volatility
DBP vs. PLTM - Volatility Comparison
The current volatility for Invesco DB Precious Metals Fund (DBP) is 8.93%, while GraniteShares Platinum Trust (PLTM) has a volatility of 11.52%. This indicates that DBP experiences smaller price fluctuations and is considered to be less risky than PLTM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBP | PLTM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.93% | 11.52% | -2.59% |
Volatility (6M)Calculated over the trailing 6-month period | 30.96% | 46.02% | -15.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.62% | 51.35% | -17.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.18% | 32.99% | -11.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.83% | 31.10% | -12.27% |
DBP vs. PLTM - Expense Ratio Comparison
DBP has a 0.78% expense ratio, which is higher than PLTM's 0.50% expense ratio.
Dividends
DBP vs. PLTM - Dividend Comparison
DBP's dividend yield for the trailing twelve months is around 2.63%, while PLTM has not paid dividends to shareholders.
| 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% |
PLTM GraniteShares Platinum Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DBP and PLTM have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PLTM has higher volatility (11.52%) compared to DBP (8.93%). In terms of maximum drawdown, DBP dropped -53.89% vs PLTM's -42.32%.
On 5-year performance, DBP leads with 16.74% vs 7.99% for PLTM. On fees, PLTM is cheaper at 0.50% 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 5-year period, DBP has performed better with a 16.74% return vs 7.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PLTM is cheaper with a 0.50% expense ratio, compared with 0.78% for DBP.
DBP has the higher dividend yield at 2.63%, compared with 0.00% for PLTM.
DBP tracks DBIQ Optimum Yield Precious Metals Index Excess Return, while PLTM tracks Platinum London PM Fix ($/ozt). They also come from different issuers: Invesco and GraniteShares. Their fees differ too: 0.78% for DBP and 0.50% for PLTM.
DBP currently has the higher Sharpe Ratio (0.82 vs 0.53), 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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