DBP vs. QQQ
DBP (Invesco DB Precious Metals Fund) and QQQ (Invesco QQQ ETF) are both exchange-traded funds - DBP is a Precious Metals fund tracking the DBIQ Optimum Yield Precious Metals Index Excess Return, while QQQ is a Nasdaq-100 fund tracking the NASDAQ-100 Index. Both are passively managed. Over the past 10 years, DBP returned 10.50%/yr vs 22.07%/yr for QQQ. At a 0.10 correlation, their price movements are largely independent. DBP charges 0.78%/yr vs 0.18%/yr for QQQ.
Performance
DBP vs. QQQ - 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 QQQ's 16.45% return. Over the past 10 years, DBP has underperformed QQQ with an annualized return of 10.50%, while QQQ has yielded a comparatively higher 22.07% annualized 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%
QQQ
- 1D
- -3.29%
- 1M
- -0.43%
- YTD
- 16.45%
- 6M
- 14.99%
- 1Y
- 34.88%
- 3Y*
- 26.05%
- 5Y*
- 16.01%
- 10Y*
- 22.07%
DBP vs. QQQ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DBP Invesco DB Precious Metals Fund | -7.35% | 73.43% | 26.71% | 8.68% | -1.51% | -7.10% | 26.79% | 15.89% | -4.31% | 10.58% |
QQQ Invesco QQQ ETF | 16.45% | 20.77% | 25.58% | 54.86% | -32.58% | 27.42% | 48.62% | 38.96% | -0.13% | 32.66% |
Correlation
The correlation between DBP and QQQ is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 2007 | 0.10 |
The correlation between DBP and QQQ shifts across timeframes, from 0.10 (all time) to 0.28 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DBP vs. QQQ — Risk / Return Rank
DBP
QQQ
DBP vs. QQQ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB Precious Metals Fund (DBP) and Invesco QQQ ETF (QQQ). 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 | QQQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.13 | ||
| Sortino ratioReturn per unit of downside risk | -1.40 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.35 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 0.92 | 2.93 | -2.01 |
| Martin ratioReturn relative to average drawdown | 2.25 | 10.86 | -8.61 |
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Drawdowns
DBP vs. QQQ - Drawdown Comparison
The maximum DBP drawdown since its inception was -53.89%, smaller than the maximum QQQ drawdown of -82.97%. Use the drawdown chart below to compare losses from any high point for DBP and QQQ.
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Drawdown Indicators
| DBP | QQQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.89% | -82.97% | +29.08% |
Max Drawdown (1Y)Largest decline over 1 year | -30.18% | -11.96% | -18.22% |
Max Drawdown (3Y)Largest decline over 3 years | -30.18% | -22.77% | -7.41% |
Max Drawdown (5Y)Largest decline over 5 years | -30.18% | -35.12% | +4.94% |
Max Drawdown (10Y)Largest decline over 10 years | -30.18% | -35.12% | +4.94% |
Current DrawdownCurrent decline from peak | -30.18% | -4.25% | -25.93% |
Average DrawdownAverage peak-to-trough decline | -25.42% | -32.73% | +7.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.30% | 3.22% | +9.08% |
Volatility
DBP vs. QQQ - Volatility Comparison
Invesco DB Precious Metals Fund (DBP) and Invesco QQQ ETF (QQQ) have volatilities of 8.93% and 9.17%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBP | QQQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.93% | 9.17% | -0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 30.96% | 14.57% | +16.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.62% | 17.96% | +15.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.18% | 22.69% | -1.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.83% | 22.42% | -3.59% |
DBP vs. QQQ - Expense Ratio Comparison
DBP has a 0.78% expense ratio, which is higher than QQQ's 0.18% expense ratio.
Dividends
DBP vs. QQQ - Dividend Comparison
DBP's dividend yield for the trailing twelve months is around 2.63%, more than QQQ's 0.43% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% |
QQQ Invesco QQQ ETF | 0.43% | 0.45% | 0.56% | 0.62% | 0.80% | 0.43% | 0.55% | 0.74% | 0.91% | 0.84% | 1.06% | 0.99% |
Frequently Asked Questions
DBP and QQQ have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
QQQ has higher volatility (9.17%) compared to DBP (8.93%). In terms of maximum drawdown, DBP dropped -53.89% vs QQQ's -82.97%.
On 10-year performance, QQQ leads with 22.07% vs 10.50% for DBP. On fees, QQQ is cheaper at 0.18% 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 10-year period, QQQ has performed better with a 22.07% return vs 10.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QQQ is cheaper with a 0.18% expense ratio, compared with 0.78% for DBP.
DBP has the higher dividend yield at 2.63%, compared with 0.43% for QQQ.
DBP is categorized as Precious Metals, while QQQ is Nasdaq-100. DBP tracks DBIQ Optimum Yield Precious Metals Index Excess Return, while QQQ tracks NASDAQ-100 Index. Their fees differ too: 0.78% for DBP and 0.18% for QQQ.
QQQ currently has the higher Sharpe Ratio (1.95 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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