DBP vs. RING
Compare and contrast key facts about Invesco DB Precious Metals Fund (DBP) and iShares MSCI Global Gold Miners ETF (RING).
DBP and RING are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DBP is a passively managed fund by Invesco that tracks the performance of the DBIQ Optimum Yield Precious Metals Index Excess Return. It was launched on Jan 5, 2007. RING is a passively managed fund by iShares that tracks the performance of the MSCI ACWI Select Gold Miners Investable Market Index. It was launched on Jan 31, 2012. Both DBP and RING are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: DBP or RING.
Key characteristics
| DBP | RING | |
|---|---|---|
| YTD Return | 15.56% | 15.34% |
| 1Y Return | 16.15% | 9.84% |
| 3Y Return (Ann) | 5.60% | -1.76% |
| 5Y Return (Ann) | 11.46% | 13.89% |
| 10Y Return (Ann) | 4.16% | 4.83% |
| Sharpe Ratio | 1.20 | 0.36 |
| Daily Std Dev | 13.73% | 30.00% |
| Max Drawdown | -53.89% | -79.47% |
| Current Drawdown | -10.27% | -36.58% |
Correlation
The correlation between DBP and RING is 0.77, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
DBP vs. RING - Performance Comparison
The year-to-date returns for both stocks are quite close, with DBP having a 15.56% return and RING slightly lower at 15.34%. Over the past 10 years, DBP has underperformed RING with an annualized return of 4.16%, while RING has yielded a comparatively higher 4.83% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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DBP vs. RING - Expense Ratio Comparison
DBP has a 0.78% expense ratio, which is higher than RING's 0.39% expense ratio.
Risk-Adjusted Performance
DBP vs. RING - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB Precious Metals Fund (DBP) and iShares MSCI Global Gold Miners ETF (RING). 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.
Dividends
DBP vs. RING - Dividend Comparison
DBP's dividend yield for the trailing twelve months is around 3.87%, more than RING's 1.74% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBP Invesco DB Precious Metals Fund | 3.87% | 4.47% | 0.45% | 0.00% | 0.00% | 1.26% | 1.24% | 0.12% | 0.00% | 0.00% | 0.00% | 0.00% |
RING iShares MSCI Global Gold Miners ETF | 1.74% | 2.01% | 2.29% | 2.38% | 0.83% | 0.83% | 0.70% | 0.42% | 1.41% | 0.96% | 0.85% | 1.48% |
Drawdowns
DBP vs. RING - Drawdown Comparison
The maximum DBP drawdown since its inception was -53.89%, smaller than the maximum RING drawdown of -79.47%. Use the drawdown chart below to compare losses from any high point for DBP and RING. For additional features, visit the drawdowns tool.
Volatility
DBP vs. RING - Volatility Comparison
The current volatility for Invesco DB Precious Metals Fund (DBP) is 4.90%, while iShares MSCI Global Gold Miners ETF (RING) has a volatility of 9.42%. This indicates that DBP experiences smaller price fluctuations and is considered to be less risky than RING based on this measure. The chart below showcases a comparison of their rolling one-month volatility.