PLTM vs. DBP

Last updated Jun 4, 2026

PLTM (GraniteShares Platinum Trust) and DBP (Invesco DB Precious Metals Fund) are both Precious Metals funds - PLTM tracks the Platinum London PM Fix ($/ozt) while DBP tracks the DBIQ Optimum Yield Precious Metals Index Excess Return. Both are passively managed. Over the past 5 years, PLTM returned 9.22%/yr vs 17.43%/yr for DBP. A 0.58 correlation means they provide meaningful diversification when combined. PLTM charges 0.50%/yr vs 0.78%/yr for DBP.

Performance

PLTM vs. DBP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares Platinum Trust (PLTM) 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, PLTM achieves a -9.33% return, which is significantly lower than DBP's 2.13% return.

PLTM

• 1D: -3.82%
• 1M: -4.28%
• YTD: -9.33%
• 6M: 11.67%
• 1Y: 71.85%
• 3Y*: 22.22%
• 5Y*: 9.22%
• 10Y*: —

DBP

• 1D: -1.42%
• 1M: -1.48%
• YTD: 2.13%
• 6M: 8.68%
• 1Y: 42.65%
• 3Y*: 32.54%
• 5Y*: 17.43%
• 10Y*: 12.31%

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

PLTM vs. DBP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
PLTM GraniteShares Platinum Trust	-9.33%	124.46%	-8.91%	-8.10%	10.83%	-10.52%	10.87%	20.76%	-20.48%
DBP Invesco DB Precious Metals Fund	2.13%	73.43%	26.71%	8.68%	-1.51%	-7.10%	26.79%	15.89%	-5.89%

Correlation

The correlation between PLTM and DBP is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (All Time) Calculated using the full available price history since Feb 6, 2018	0.58

The correlation between PLTM and DBP shifts across timeframes, from 0.58 (all time) to 0.70 (1 year), reflecting how their relationship changes across market environments.

PLTM vs. DBP - Sectors Allocation Comparison

Sectors	PLTM	DBP
Real Estate	100.0%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	100.5%
Healthcare	-	-
Industrials	-	-
Technology	-	-
Utilities	-	-

Return for Risk

PLTM vs. DBP — Risk / Return Rank

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

PLTM

PLTM Risk / Return Rank: 36
PLTM Sharpe Ratio Rank: 39
PLTM Sortino Ratio Rank: 33
PLTM Omega Ratio Rank: 39
PLTM Calmar Ratio Rank: 42
PLTM Martin Ratio Rank: 30

DBP

DBP Risk / Return Rank: 34
DBP Sharpe Ratio Rank: 36
DBP Sortino Ratio Rank: 30
DBP Omega Ratio Rank: 40
DBP Calmar Ratio Rank: 34
DBP Martin Ratio Rank: 28

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.

PLTM vs. DBP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares Platinum Trust (PLTM) 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.

	PLTM	DBP	Difference
Sharpe ratio Return per unit of total volatility	1.41	1.32	+0.09
Sortino ratio Return per unit of downside risk	1.80	1.65	+0.15
Omega ratio Gain probability vs. loss probability	1.26	1.26	-0.01
Calmar ratio Return relative to maximum drawdown	2.09	1.68	+0.41
Martin ratio Return relative to average drawdown	4.43	4.01	+0.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PLTM vs. DBP - Sharpe Ratio Comparison

The current PLTM Sharpe Ratio is 1.41, which is comparable to the DBP Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of PLTM 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.

Sharpe Ratios by Period

	PLTM	DBP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.41	1.32	+0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	0.84	-0.56
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.66	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.24	0.43	-0.19

Drawdowns

PLTM vs. DBP - Drawdown Comparison

The maximum PLTM drawdown since its inception was -42.32%, smaller than the maximum DBP drawdown of -53.89%. Use the drawdown chart below to compare losses from any high point for PLTM and DBP.

Drawdown Indicators

	PLTM	DBP	Difference
Max Drawdown Largest peak-to-trough decline	-42.32%	-53.89%	+11.57%
Max Drawdown (1Y) Largest decline over 1 year	-34.52%	-25.48%	-9.04%
Max Drawdown (3Y) Largest decline over 3 years	-34.52%	-25.48%	-9.04%
Max Drawdown (5Y) Largest decline over 5 years	-34.52%	-25.48%	-9.04%
Max Drawdown (10Y) Largest decline over 10 years	—	-28.36%	—
Current Drawdown Current decline from peak	-33.02%	-23.04%	-9.98%
Average Drawdown Average peak-to-trough decline	-18.55%	-25.42%	+6.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.28%	10.67%	+5.61%

Volatility

PLTM vs. DBP - Volatility Comparison

GraniteShares Platinum Trust (PLTM) has a higher volatility of 10.88% compared to Invesco DB Precious Metals Fund (DBP) at 7.57%. This indicates that PLTM'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.

Volatility by Period

	PLTM	DBP	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.88%	7.57%	+3.31%
Volatility (6M) Calculated over the trailing 6-month period	45.45%	29.87%	+15.58%
Volatility (1Y) Calculated over the trailing 1-year period	51.40%	32.57%	+18.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.83%	20.91%	+11.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.98%	18.72%	+12.26%

PLTM vs. DBP - Expense Ratio Comparison

PLTM has a 0.50% expense ratio, which is lower than DBP's 0.78% expense ratio.

Dividends

PLTM vs. DBP - Dividend Comparison

PLTM has not paid dividends to shareholders, while DBP's dividend yield for the trailing twelve months is around 2.38%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DBP Invesco DB Precious Metals Fund	2.38%	2.44%	4.21%	4.47%	0.45%	0.00%	0.00%	1.26%	1.24%	0.12%
PLTM GraniteShares Platinum Trust	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PLTM and DBP in my portfolio?

PLTM and DBP have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PLTM or DBP?

PLTM has higher volatility (10.88%) compared to DBP (7.57%). In terms of maximum drawdown, PLTM dropped -42.32% vs DBP's -53.89%.

Which ETF is better, PLTM or DBP?

On 5-year performance, DBP leads with 17.43% vs 9.22% for PLTM. On fees, PLTM is cheaper at 0.50% per year. On volatility, DBP has been the lower-risk option at 7.57%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PLTM or DBP?

Over the 5-year period, DBP has performed better with a 17.43% return vs 9.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PLTM or DBP?

PLTM is cheaper with a 0.50% expense ratio, compared with 0.78% for DBP.

Which ETF pays a higher dividend yield, PLTM or DBP?

DBP has the higher dividend yield at 2.38%, compared with 0.00% for PLTM.

What is the main difference between PLTM and DBP?

PLTM tracks Platinum London PM Fix ($/ozt), while DBP tracks DBIQ Optimum Yield Precious Metals Index Excess Return. They also come from different issuers: GraniteShares and Invesco. Their fees differ too: 0.50% for PLTM and 0.78% for DBP.

Which has better risk-adjusted returns?

PLTM currently has the higher Sharpe Ratio (1.41 vs 1.32), 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.