DBP vs. SOXQ

Last updated Jun 4, 2026

DBP (Invesco DB Precious Metals Fund) and SOXQ (Invesco PHLX Semiconductor ETF) are both exchange-traded funds - DBP is a Precious Metals fund tracking the DBIQ Optimum Yield Precious Metals Index Excess Return, while SOXQ is a Semiconductors fund tracking the PHLX Semiconductor Sector Index. Both are passively managed. Over the past 3 years, DBP returned 32.54%/yr vs 59.40%/yr for SOXQ. At a 0.15 correlation, their price movements are largely independent. DBP charges 0.78%/yr vs 0.19%/yr for SOXQ.

Performance

DBP vs. SOXQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco DB Precious Metals Fund (DBP) and Invesco PHLX Semiconductor ETF (SOXQ). 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 lower than SOXQ's 96.72% 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%

SOXQ

• 1D: 1.42%
• 1M: 32.12%
• YTD: 96.72%
• 6M: 91.61%
• 1Y: 181.76%
• 3Y*: 59.40%
• 5Y*: —
• 10Y*: —

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

DBP vs. SOXQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DBP Invesco DB Precious Metals Fund	2.13%	73.43%	26.71%	8.68%	-1.51%	-6.42%
SOXQ Invesco PHLX Semiconductor ETF	96.72%	43.11%	20.16%	66.74%	-35.59%	24.82%

Correlation

The correlation between DBP and SOXQ is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (All Time) Calculated using the full available price history since Jun 14, 2021	0.15

DBP vs. SOXQ - Sectors Allocation Comparison

Sectors	DBP	SOXQ
Financial Services	100.5%	0.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	100.0%
Utilities	-	-

Return for Risk

DBP vs. SOXQ — 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

SOXQ

SOXQ Risk / Return Rank: 96
SOXQ Sharpe Ratio Rank: 98
SOXQ Sortino Ratio Rank: 95
SOXQ Omega Ratio Rank: 95
SOXQ Calmar Ratio Rank: 97
SOXQ Martin Ratio Rank: 97

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. SOXQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco DB Precious Metals Fund (DBP) and Invesco PHLX Semiconductor ETF (SOXQ). 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	SOXQ	Difference
Sharpe ratio: Return per unit of total volatility	1.32	5.43	-4.11
Sortino ratio: Return per unit of downside risk	1.65	5.22	-3.57
Omega ratio: Gain probability vs. loss probability	1.26	1.72	-0.46
Calmar ratio: Return relative to maximum drawdown	1.68	11.73	-10.05
Martin ratio: Return relative to average drawdown	4.01	45.01	-41.00
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. SOXQ - Sharpe Ratio Comparison

The current DBP Sharpe Ratio is 1.32, which is lower than the SOXQ Sharpe Ratio of 5.43. The chart below compares the historical Sharpe Ratios of DBP and SOXQ, 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	SOXQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.32	5.43	-4.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.66	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.98	-0.55

Drawdowns

DBP vs. SOXQ - Drawdown Comparison

The maximum DBP drawdown since its inception was -53.89%, which is greater than SOXQ's maximum drawdown of -46.01%. Use the drawdown chart below to compare losses from any high point for DBP and SOXQ.

Drawdown Indicators

	DBP	SOXQ	Difference
Max Drawdown Largest peak-to-trough decline	-53.89%	-46.01%	-7.88%
Max Drawdown (1Y) Largest decline over 1 year	-25.48%	-15.59%	-9.89%
Max Drawdown (3Y) Largest decline over 3 years	-25.48%	-39.36%	+13.88%
Max Drawdown (5Y) Largest decline over 5 years	-25.48%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-28.36%	—	—
Current Drawdown Current decline from peak	-23.04%	0.00%	-23.04%
Average Drawdown Average peak-to-trough decline	-25.42%	-12.96%	-12.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.67%	4.06%	+6.61%

Volatility

DBP vs. SOXQ - Volatility Comparison

The current volatility for Invesco DB Precious Metals Fund (DBP) is 7.57%, while Invesco PHLX Semiconductor ETF (SOXQ) has a volatility of 13.44%. This indicates that DBP experiences smaller price fluctuations and is considered to be less risky than SOXQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DBP	SOXQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.57%	13.44%	-5.87%
Volatility (6M) Calculated over the trailing 6-month period	29.87%	26.70%	+3.17%
Volatility (1Y) Calculated over the trailing 1-year period	32.57%	33.78%	-1.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.91%	36.38%	-15.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.72%	36.38%	-17.66%

DBP vs. SOXQ - Expense Ratio Comparison

DBP has a 0.78% expense ratio, which is higher than SOXQ's 0.19% expense ratio.

Dividends

DBP vs. SOXQ - Dividend Comparison

DBP's dividend yield for the trailing twelve months is around 2.38%, more than SOXQ's 0.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
SOXQ Invesco PHLX Semiconductor ETF	0.26%	0.50%	0.68%	0.87%	1.36%	0.72%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DBP and SOXQ in my portfolio?

DBP and SOXQ have a correlation of 0.22, 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 SOXQ?

SOXQ has higher volatility (13.44%) compared to DBP (7.57%). In terms of maximum drawdown, DBP dropped -53.89% vs SOXQ's -46.01%.

Which ETF is better, DBP or SOXQ?

On 3-year performance, SOXQ leads with 59.40% vs 32.54% for DBP. On fees, SOXQ is cheaper at 0.19% per year. On volatility, DBP has been the lower-risk option at 7.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DBP or SOXQ?

Over the 3-year period, SOXQ has performed better with a 59.40% return vs 32.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DBP or SOXQ?

SOXQ is cheaper with a 0.19% expense ratio, compared with 0.78% for DBP.

Which ETF pays a higher dividend yield, DBP or SOXQ?

DBP has the higher dividend yield at 2.38%, compared with 0.26% for SOXQ.

What is the main difference between DBP and SOXQ?

DBP is categorized as Precious Metals, while SOXQ is Semiconductors. DBP tracks DBIQ Optimum Yield Precious Metals Index Excess Return, while SOXQ tracks PHLX Semiconductor Sector Index. Their fees differ too: 0.78% for DBP and 0.19% for SOXQ.

Which has better risk-adjusted returns?

SOXQ currently has the higher Sharpe Ratio (5.43 vs 1.32), 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.