GBUG vs. DBP
GBUG (Sprott Active Gold & Silver Miners ETF) and DBP (Invesco DB Precious Metals Fund) are both exchange-traded funds - GBUG is a Gold fund actively managed by Sprott, while DBP is a Precious Metals fund tracking the DBIQ Optimum Yield Precious Metals Index Excess Return. GBUG is actively managed, while DBP is passively managed. Over the past year, GBUG returned 63.04% vs 43.27% for DBP. Their correlation of 0.81 suggests significant overlap in exposure. GBUG charges 0.89%/yr vs 0.78%/yr for DBP.
Performance
GBUG vs. DBP - Performance Comparison
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Returns By Period
In the year-to-date period, GBUG achieves a -1.44% return, which is significantly lower than DBP's 2.99% return.
GBUG
- 1D
- 1.17%
- 1M
- 0.96%
- YTD
- -1.44%
- 6M
- 7.57%
- 1Y
- 63.04%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DBP
- 1D
- 0.84%
- 1M
- -1.26%
- YTD
- 2.99%
- 6M
- 10.06%
- 1Y
- 43.27%
- 3Y*
- 32.69%
- 5Y*
- 17.62%
- 10Y*
- 12.38%
GBUG vs. DBP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
GBUG Sprott Active Gold & Silver Miners ETF | -1.44% | 119.00% |
DBP Invesco DB Precious Metals Fund | 2.99% | 55.68% |
Correlation
The correlation between GBUG and DBP is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Feb 21, 2025 | 0.81 |
The correlation between GBUG and DBP has been stable across timeframes, ranging from 0.81 to 0.81 - a consistent structural relationship.
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Return for Risk
GBUG vs. DBP — Risk / Return Rank
GBUG
DBP
GBUG vs. DBP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Sprott Active Gold & Silver Miners ETF (GBUG) and Invesco DB Precious Metals Fund (DBP). 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.
| GBUG | DBP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.27 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 1.97 | 1.71 | +0.27 |
| Martin ratioReturn relative to average drawdown | 5.05 | 4.03 | +1.02 |
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
| GBUG | DBP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.33 | 1.34 | -0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.85 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.66 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.74 | 0.43 | +1.31 |
Drawdowns
GBUG vs. DBP - Drawdown Comparison
The maximum GBUG drawdown since its inception was -32.10%, smaller than the maximum DBP drawdown of -53.89%. Use the drawdown chart below to compare losses from any high point for GBUG and DBP.
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Drawdown Indicators
| GBUG | DBP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.10% | -53.89% | +21.79% |
Max Drawdown (1Y)Largest decline over 1 year | -32.10% | -25.48% | -6.62% |
Max Drawdown (3Y)Largest decline over 3 years | — | -25.48% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.48% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -28.36% | — |
Current DrawdownCurrent decline from peak | -25.98% | -22.39% | -3.59% |
Average DrawdownAverage peak-to-trough decline | -7.68% | -25.42% | +17.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.52% | 10.76% | +1.76% |
Volatility
GBUG vs. DBP - Volatility Comparison
Sprott Active Gold & Silver Miners ETF (GBUG) has a higher volatility of 15.44% compared to Invesco DB Precious Metals Fund (DBP) at 7.60%. This indicates that GBUG's price experiences larger fluctuations and is considered to be riskier than DBP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GBUG | DBP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.44% | 7.60% | +7.84% |
Volatility (6M)Calculated over the trailing 6-month period | 39.41% | 29.88% | +9.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 47.62% | 32.56% | +15.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 47.31% | 20.91% | +26.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.31% | 18.72% | +28.59% |
GBUG vs. DBP - Expense Ratio Comparison
GBUG has a 0.89% expense ratio, which is higher than DBP's 0.78% expense ratio.
Dividends
GBUG vs. DBP - Dividend Comparison
GBUG's dividend yield for the trailing twelve months is around 1.58%, less than DBP's 2.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DBP Invesco DB Precious Metals Fund | 2.36% | 2.44% | 4.21% | 4.47% | 0.45% | 0.00% | 0.00% | 1.26% | 1.24% | 0.12% |
GBUG Sprott Active Gold & Silver Miners ETF | 1.58% | 1.56% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GBUG and DBP have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GBUG has higher volatility (15.44%) compared to DBP (7.60%). In terms of maximum drawdown, GBUG dropped -32.10% vs DBP's -53.89%.
On 1-year performance, GBUG leads with 63.04% vs 43.27% for DBP. On fees, DBP is cheaper at 0.78% per year. On volatility, DBP has been the lower-risk option at 7.60%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, GBUG has performed better with a 63.04% return vs 43.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DBP is cheaper with a 0.78% expense ratio, compared with 0.89% for GBUG.
DBP has the higher dividend yield at 2.36%, compared with 1.58% for GBUG.
GBUG is categorized as Gold, while DBP is Precious Metals. They also come from different issuers: Sprott and Invesco. Their fees differ too: 0.89% for GBUG and 0.78% for DBP.
DBP currently has the higher Sharpe Ratio (1.34 vs 1.33), 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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