MFIC vs. DBP

Last updated Jun 23, 2026

MFIC (MidCap Financial Investment Corporation) is a stock, while DBP (Invesco DB Precious Metals Fund) is Precious Metals fund tracking the DBIQ Optimum Yield Precious Metals Index Excess Return. Over the past 10 years, MFIC returned 6.75%/yr vs 10.77%/yr for DBP. At a 0.08 correlation, their price movements are largely independent.

Performance

MFIC vs. DBP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MidCap Financial Investment Corporation (MFIC) and Invesco DB Precious Metals Fund (DBP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MFIC achieves a -9.56% return, which is significantly lower than DBP's -5.02% return. Over the past 10 years, MFIC has underperformed DBP with an annualized return of 6.75%, while DBP has yielded a comparatively higher 10.77% annualized return.

MFIC

• 1D: -1.91%
• 1M: -5.33%
• YTD: -9.56%
• 6M: -10.50%
• 1Y: -10.62%
• 3Y*: 5.21%
• 5Y*: 5.05%
• 10Y*: 6.75%

DBP

• 1D: -0.69%
• 1M: -8.76%
• YTD: -5.02%
• 6M: -7.14%
• 1Y: 31.38%
• 3Y*: 30.35%
• 5Y*: 17.32%
• 10Y*: 10.77%

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

MFIC vs. DBP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MFIC MidCap Financial Investment Corporation	-9.56%	-4.34%	11.25%	35.48%	0.19%	33.67%	-28.54%	56.97%	-18.11%	6.51%
DBP Invesco DB Precious Metals Fund	-5.02%	73.43%	26.71%	8.68%	-1.51%	-7.10%	26.79%	15.89%	-4.31%	10.58%

Correlation

The correlation between MFIC and DBP is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.05
Correlation (5Y) Calculated over the trailing 5-year period	0.08
Correlation (10Y) Calculated over the trailing 10-year period	0.05
Correlation (All Time) Calculated using the full available price history since Jan 5, 2007	0.08

The correlation between MFIC and DBP shifts across timeframes, from -0.04 (1 year) to 0.08 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

MFIC vs. DBP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MFIC

MFIC Risk / Return Rank: 21
MFIC Sharpe Ratio Rank: 22
MFIC Sortino Ratio Rank: 21
MFIC Omega Ratio Rank: 21
MFIC Calmar Ratio Rank: 26
MFIC Martin Ratio Rank: 17

DBP

DBP Risk / Return Rank: 25
DBP Sharpe Ratio Rank: 27
DBP Sortino Ratio Rank: 24
DBP Omega Ratio Rank: 30
DBP Calmar Ratio Rank: 23
DBP Martin Ratio Rank: 22

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.

MFIC vs. DBP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MidCap Financial Investment Corporation (MFIC) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	MFIC	DBP	Difference
Sharpe ratio: Return per unit of total volatility	-0.44	0.94	-1.39
Sortino ratio: Return per unit of downside risk	-0.47	1.29	-1.76
Omega ratio: Gain probability vs. loss probability	0.94	1.20	-0.26
Calmar ratio: Return relative to maximum drawdown	-0.45	1.05	-1.50
Martin ratio: Return relative to average drawdown	-1.15	2.59	-3.74

MFIC vs. DBP - Sharpe Ratio Comparison

The current MFIC Sharpe Ratio is -0.44, which is lower than the DBP Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of MFIC and DBP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MFIC vs. DBP - Drawdown Comparison

The maximum MFIC drawdown since its inception was -87.97%, which is greater than DBP's maximum drawdown of -53.89%. Use the drawdown chart below to compare losses from any high point for MFIC and DBP.

Drawdown Indicators

	MFIC	DBP	Difference
Max Drawdown Largest peak-to-trough decline	-87.97%	-53.89%	-34.08%
Max Drawdown (1Y) Largest decline over 1 year	-23.46%	-30.03%	+6.57%
Max Drawdown (3Y) Largest decline over 3 years	-26.97%	-30.03%	+3.06%
Max Drawdown (5Y) Largest decline over 5 years	-26.97%	-30.03%	+3.06%
Max Drawdown (10Y) Largest decline over 10 years	-67.77%	-30.03%	-37.74%
Current Drawdown Current decline from peak	-20.96%	-28.42%	+7.46%
Average Drawdown Average peak-to-trough decline	-17.52%	-25.42%	+7.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.26%	12.16%	-2.90%

Volatility

MFIC vs. DBP - Volatility Comparison

The current volatility for MidCap Financial Investment Corporation (MFIC) is 7.88%, while Invesco DB Precious Metals Fund (DBP) has a volatility of 8.74%. This indicates that MFIC experiences smaller price fluctuations and is considered to be less risky than DBP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MFIC	DBP	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.88%	8.74%	-0.86%
Volatility (6M) Calculated over the trailing 6-month period	20.86%	30.87%	-10.01%
Volatility (1Y) Calculated over the trailing 1-year period	24.02%	33.59%	-9.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.81%	21.15%	+1.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.07%	18.87%	+11.20%

Dividends

MFIC vs. DBP - Dividend Comparison

MFIC's dividend yield for the trailing twelve months is around 14.17%, more than DBP's 2.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DBP Invesco DB Precious Metals Fund	2.56%	2.44%	4.21%	4.47%	0.45%	0.00%	0.00%	1.26%	1.24%	0.12%	0.00%	0.00%
MFIC MidCap Financial Investment Corporation	14.17%	13.29%	12.75%	11.11%	12.37%	11.26%	15.25%	10.31%	14.52%	10.60%	11.95%	15.33%

Frequently Asked Questions

Can I hold both MFIC and DBP in my portfolio?

MFIC and DBP have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MFIC or DBP?

DBP has higher volatility (8.74%) compared to MFIC (7.88%). In terms of maximum drawdown, MFIC dropped -87.97% vs DBP's -53.89%.

Which has better risk-adjusted returns?

DBP currently has the higher Sharpe Ratio (0.94 vs -0.44), 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.