ISTM vs. DBB
ISTM (iShares Strategic Metals ETF) and DBB (Invesco DB Base Metals Fund) are both Metals funds - ISTM tracks the ICE Strategic Re-Industrialization Metals Index while DBB tracks the DBIQ Optimum Yield Industrial Metals Index Excess Return. Both are passively managed. Over the past year, ISTM returned 58.68% vs 43.74% for DBB. Their correlation of 0.82 suggests significant overlap in exposure. ISTM charges 0.49%/yr vs 0.80%/yr for DBB.
Performance
ISTM vs. DBB - Performance Comparison
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Returns By Period
In the year-to-date period, ISTM achieves a 13.15% return, which is significantly lower than DBB's 14.25% return.
ISTM
- 1D
- -2.14%
- 1M
- 4.48%
- YTD
- 13.15%
- 6M
- 24.67%
- 1Y
- 58.68%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DBB
- 1D
- -1.58%
- 1M
- 7.02%
- YTD
- 14.25%
- 6M
- 21.06%
- 1Y
- 43.74%
- 3Y*
- 19.11%
- 5Y*
- 8.22%
- 10Y*
- 9.52%
ISTM vs. DBB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ISTM iShares Strategic Metals ETF | 13.15% | 54.07% | 6.95% | 2.69% |
DBB Invesco DB Base Metals Fund | 14.25% | 25.01% | 7.90% | 4.03% |
Correlation
The correlation between ISTM and DBB is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Sep 29, 2023 | 0.82 |
The correlation between ISTM and DBB has been stable across timeframes, ranging from 0.80 to 0.82 - a consistent structural relationship.
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Return for Risk
ISTM vs. DBB — Risk / Return Rank
ISTM
DBB
ISTM vs. DBB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Strategic Metals ETF (ISTM) and Invesco DB Base Metals Fund (DBB). 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.
| ISTM | DBB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.52 | ||
| Sortino ratioReturn per unit of downside risk | -1.00 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.42 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.66 | 4.00 | -1.34 |
| Martin ratioReturn relative to average drawdown | 6.65 | 15.29 | -8.63 |
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
| ISTM | DBB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.92 | 2.44 | -0.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.41 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.52 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.15 | 0.08 | +1.07 |
Drawdowns
ISTM vs. DBB - Drawdown Comparison
The maximum ISTM drawdown since its inception was -22.20%, smaller than the maximum DBB drawdown of -60.20%. Use the drawdown chart below to compare losses from any high point for ISTM and DBB.
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Drawdown Indicators
| ISTM | DBB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.20% | -60.20% | +38.00% |
Max Drawdown (1Y)Largest decline over 1 year | -22.20% | -11.00% | -11.20% |
Max Drawdown (3Y)Largest decline over 3 years | — | -16.59% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -35.00% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -37.98% | — |
Current DrawdownCurrent decline from peak | -11.03% | -1.58% | -9.45% |
Average DrawdownAverage peak-to-trough decline | -6.49% | -30.89% | +24.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.85% | 2.87% | +5.98% |
Volatility
ISTM vs. DBB - Volatility Comparison
iShares Strategic Metals ETF (ISTM) has a higher volatility of 8.76% compared to Invesco DB Base Metals Fund (DBB) at 5.85%. This indicates that ISTM's price experiences larger fluctuations and is considered to be riskier than DBB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ISTM | DBB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.76% | 5.85% | +2.91% |
Volatility (6M)Calculated over the trailing 6-month period | 28.06% | 15.73% | +12.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.67% | 17.99% | +12.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.11% | 20.25% | +3.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.11% | 18.47% | +5.64% |
ISTM vs. DBB - Expense Ratio Comparison
ISTM has a 0.49% expense ratio, which is lower than DBB's 0.80% expense ratio.
Dividends
ISTM vs. DBB - Dividend Comparison
ISTM's dividend yield for the trailing twelve months is around 13.06%, more than DBB's 2.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBB Invesco DB Base Metals Fund | 2.29% | 2.61% | 4.75% | 7.21% | 0.94% | 0.00% | 0.00% | 1.83% | 1.59% |
ISTM iShares Strategic Metals ETF | 13.06% | 14.78% | 29.62% | 1.02% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ISTM and DBB have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ISTM has higher volatility (8.76%) compared to DBB (5.85%). In terms of maximum drawdown, ISTM dropped -22.20% vs DBB's -60.20%.
On 1-year performance, ISTM leads with 58.68% vs 43.74% for DBB. On fees, ISTM is cheaper at 0.49% per year. On volatility, DBB has been the lower-risk option at 5.85%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, ISTM has performed better with a 58.68% return vs 43.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ISTM is cheaper with a 0.49% expense ratio, compared with 0.80% for DBB.
ISTM has the higher dividend yield at 13.06%, compared with 2.29% for DBB.
ISTM tracks ICE Strategic Re-Industrialization Metals Index, while DBB tracks DBIQ Optimum Yield Industrial Metals Index Excess Return. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.49% for ISTM and 0.80% for DBB.
DBB currently has the higher Sharpe Ratio (2.44 vs 1.92), 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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