GOAU vs. DBP
GOAU (US Global GO GOLD and Precious Metal Miners ETF) and DBP (Invesco DB Precious Metals Fund) are both exchange-traded funds - GOAU is a Materials fund tracking the U.S. Global GO GOLD and Precious Metal Miners Index, while DBP is a Precious Metals fund tracking the DBIQ Optimum Yield Precious Metals Index Excess Return. Both are passively managed. Over the past 5 years, GOAU returned 15.62%/yr vs 17.62%/yr for DBP. A 0.78 correlation means they provide meaningful diversification when combined. GOAU charges 0.60%/yr vs 0.78%/yr for DBP.
Performance
GOAU vs. DBP - Performance Comparison
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Returns By Period
In the year-to-date period, GOAU achieves a -1.69% return, which is significantly lower than DBP's 2.99% return.
GOAU
- 1D
- 1.83%
- 1M
- 2.05%
- YTD
- -1.69%
- 6M
- 2.10%
- 1Y
- 38.05%
- 3Y*
- 33.93%
- 5Y*
- 15.62%
- 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%
GOAU vs. DBP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GOAU US Global GO GOLD and Precious Metal Miners ETF | -1.69% | 126.68% | 13.78% | 10.67% | -11.66% | -9.23% | 14.13% | 54.17% | -11.88% | 7.92% |
DBP Invesco DB Precious Metals Fund | 2.99% | 73.43% | 26.71% | 8.68% | -1.51% | -7.10% | 26.79% | 15.89% | -4.31% | 2.99% |
Correlation
The correlation between GOAU 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 (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2017 | 0.78 |
The correlation between GOAU and DBP has been stable across timeframes, ranging from 0.78 to 0.81 - a consistent structural relationship.
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Return for Risk
GOAU vs. DBP — Risk / Return Rank
GOAU
DBP
GOAU vs. DBP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for US Global GO GOLD and Precious Metal Miners ETF (GOAU) 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.
| GOAU | DBP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.50 | ||
| Sortino ratioReturn per unit of downside risk | -0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.27 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.23 | 1.71 | -0.48 |
| Martin ratioReturn relative to average drawdown | 3.00 | 4.03 | -1.03 |
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
| GOAU | DBP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.84 | 1.34 | -0.50 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.43 | 0.85 | -0.42 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.66 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.43 | +0.02 |
Drawdowns
GOAU vs. DBP - Drawdown Comparison
The maximum GOAU drawdown since its inception was -55.41%, roughly equal to the maximum DBP drawdown of -53.89%. Use the drawdown chart below to compare losses from any high point for GOAU and DBP.
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Drawdown Indicators
| GOAU | DBP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.41% | -53.89% | -1.52% |
Max Drawdown (1Y)Largest decline over 1 year | -31.15% | -25.48% | -5.67% |
Max Drawdown (3Y)Largest decline over 3 years | -31.15% | -25.48% | -5.67% |
Max Drawdown (5Y)Largest decline over 5 years | -48.52% | -25.48% | -23.04% |
Max Drawdown (10Y)Largest decline over 10 years | — | -28.36% | — |
Current DrawdownCurrent decline from peak | -25.58% | -22.39% | -3.19% |
Average DrawdownAverage peak-to-trough decline | -18.82% | -25.42% | +6.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.71% | 10.76% | +1.95% |
Volatility
GOAU vs. DBP - Volatility Comparison
US Global GO GOLD and Precious Metal Miners ETF (GOAU) has a higher volatility of 14.53% compared to Invesco DB Precious Metals Fund (DBP) at 7.60%. This indicates that GOAU'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
| GOAU | DBP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.53% | 7.60% | +6.93% |
Volatility (6M)Calculated over the trailing 6-month period | 37.31% | 29.88% | +7.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.71% | 32.56% | +13.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.44% | 20.91% | +15.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.51% | 18.72% | +16.79% |
GOAU vs. DBP - Expense Ratio Comparison
GOAU has a 0.60% expense ratio, which is lower than DBP's 0.78% expense ratio.
Dividends
GOAU vs. DBP - Dividend Comparison
GOAU's dividend yield for the trailing twelve months is around 0.96%, 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% |
GOAU US Global GO GOLD and Precious Metal Miners ETF | 0.96% | 0.94% | 2.11% | 0.99% | 1.55% | 1.28% | 0.74% | 0.16% | 0.47% | 0.27% |
Frequently Asked Questions
GOAU 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.
GOAU has higher volatility (14.53%) compared to DBP (7.60%). In terms of maximum drawdown, GOAU dropped -55.41% vs DBP's -53.89%.
On 5-year performance, DBP leads with 17.62% vs 15.62% for GOAU. On fees, GOAU is cheaper at 0.60% 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 5-year period, DBP has performed better with a 17.62% return vs 15.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GOAU is cheaper with a 0.60% expense ratio, compared with 0.78% for DBP.
DBP has the higher dividend yield at 2.36%, compared with 0.96% for GOAU.
GOAU is categorized as Materials, while DBP is Precious Metals. GOAU tracks U.S. Global GO GOLD and Precious Metal Miners Index, while DBP tracks DBIQ Optimum Yield Precious Metals Index Excess Return. They also come from different issuers: US Global and Invesco. Their fees differ too: 0.60% for GOAU and 0.78% for DBP.
DBP currently has the higher Sharpe Ratio (1.34 vs 0.84), 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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