DBP vs. XMMO
Compare and contrast key facts about Invesco DB Precious Metals Fund (DBP) and Invesco S&P MidCap Momentum ETF (XMMO).
DBP and XMMO 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. XMMO is a passively managed fund by Invesco that tracks the performance of the S&P MidCap 400 Index. It was launched on Mar 3, 2005. Both DBP and XMMO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
DBP vs. XMMO - Performance Comparison
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DBP vs. XMMO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DBP Invesco DB Precious Metals Fund | 7.03% | 73.43% | 26.71% | 8.68% | -1.51% | -7.10% | 26.79% | 15.89% | -4.31% | 10.58% |
XMMO Invesco S&P MidCap Momentum ETF | 4.93% | 13.04% | 38.03% | 20.39% | -16.02% | 16.69% | 29.17% | 36.78% | 6.12% | 37.18% |
Returns By Period
In the year-to-date period, DBP achieves a 7.03% return, which is significantly higher than XMMO's 4.93% return. Over the past 10 years, DBP has underperformed XMMO with an annualized return of 13.17%, while XMMO has yielded a comparatively higher 18.19% annualized return.
DBP
- 1D
- 4.37%
- 1M
- -13.22%
- YTD
- 7.03%
- 6M
- 26.77%
- 1Y
- 57.78%
- 3Y*
- 34.01%
- 5Y*
- 20.74%
- 10Y*
- 13.17%
XMMO
- 1D
- 4.31%
- 1M
- -3.18%
- YTD
- 4.93%
- 6M
- 7.61%
- 1Y
- 28.46%
- 3Y*
- 25.08%
- 5Y*
- 12.21%
- 10Y*
- 18.19%
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DBP vs. XMMO - Expense Ratio Comparison
DBP has a 0.78% expense ratio, which is higher than XMMO's 0.33% expense ratio.
Return for Risk
DBP vs. XMMO — Risk / Return Rank
DBP
XMMO
DBP vs. XMMO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB Precious Metals Fund (DBP) and Invesco S&P MidCap Momentum ETF (XMMO). 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 | XMMO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.76 | 1.30 | +0.46 |
Sortino ratioReturn per unit of downside risk | 2.08 | 1.86 | +0.22 |
Omega ratioGain probability vs. loss probability | 1.33 | 1.26 | +0.07 |
Calmar ratioReturn relative to maximum drawdown | 2.33 | 2.28 | +0.05 |
Martin ratioReturn relative to average drawdown | 8.43 | 10.83 | -2.41 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DBP | XMMO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.76 | 1.30 | +0.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.01 | 0.58 | +0.44 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.71 | 0.83 | -0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.54 | -0.09 |
Correlation
The correlation between DBP and XMMO is 0.11, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
DBP vs. XMMO - Dividend Comparison
DBP's dividend yield for the trailing twelve months is around 2.28%, more than XMMO's 0.71% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBP Invesco DB Precious Metals Fund | 2.28% | 2.44% | 4.21% | 4.47% | 0.45% | 0.00% | 0.00% | 1.26% | 1.24% | 0.12% | 0.00% | 0.00% |
XMMO Invesco S&P MidCap Momentum ETF | 0.71% | 0.78% | 0.34% | 0.80% | 1.43% | 0.41% | 0.61% | 0.60% | 0.19% | 0.21% | 0.22% | 0.64% |
Drawdowns
DBP vs. XMMO - Drawdown Comparison
The maximum DBP drawdown since its inception was -53.89%, roughly equal to the maximum XMMO drawdown of -55.37%. Use the drawdown chart below to compare losses from any high point for DBP and XMMO.
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Drawdown Indicators
| DBP | XMMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.89% | -55.37% | +1.48% |
Max Drawdown (1Y)Largest decline over 1 year | -25.48% | -12.81% | -12.67% |
Max Drawdown (5Y)Largest decline over 5 years | -25.48% | -27.91% | +2.43% |
Max Drawdown (10Y)Largest decline over 10 years | -28.36% | -36.74% | +8.38% |
Current DrawdownCurrent decline from peak | -19.34% | -4.39% | -14.95% |
Average DrawdownAverage peak-to-trough decline | -25.47% | -9.52% | -15.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.06% | 2.69% | +4.37% |
Volatility
DBP vs. XMMO - Volatility Comparison
Invesco DB Precious Metals Fund (DBP) has a higher volatility of 12.31% compared to Invesco S&P MidCap Momentum ETF (XMMO) at 9.07%. This indicates that DBP's price experiences larger fluctuations and is considered to be riskier than XMMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBP | XMMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.31% | 9.07% | +3.24% |
Volatility (6M)Calculated over the trailing 6-month period | 30.54% | 14.28% | +16.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.93% | 21.97% | +10.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.57% | 21.26% | -0.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.57% | 22.11% | -3.54% |