DBP vs VYM
DBP vs VYM
Invesco DB Precious Metals Fund vs Vanguard High Dividend Yield ETF
Quick Verdict
VYM has a lower expense ratio. DBP delivered stronger 1-year returns. VYM offers more diversification with 558 holdings.
Side-by-Side Comparison
| Metric | DBP | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.73% | 0.04% | |
| AUM | $206M | $79.0B | |
| Dividend Yield | 2.70% | 2.86% | |
| Holdings | 7 | 568 | |
| YTD Return | -3.72% | +15.80% | |
| 1Y Return | +31.50% | +26.12% | |
| 3Y Return (annualized) | +29.47% | +18.25% | |
| 5Y Return (annualized) | +17.96% | +12.51% | |
| Volatility (annualized) | 19.6% | 14.6% | |
| Max Drawdown | -53.9% | -58.8% | |
| Fund Family | Invesco (US) | Vanguard (US) | |
| Category | Commodity | Equity | |
| Inception | Jan 5, 2007 | Nov 10, 2006 |
DBP vs VYM Performance
Invesco DB Precious Metals Fund (DBP) is a ETF from Invesco (US) and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year DBP returned +31.50% while VYM returned +26.12%. Year to date, DBP is down 3.72% versus a gain of 15.80% for VYM.
Over three years, DBP compounded at +29.47% per year against +18.25% for VYM; over five years the annualized figures are +17.96% and +12.51% respectively. Across the full 20-year window we track, DBP has the edge at +8.26% annualized vs +7.07%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
DBP has been the more volatile fund, with annualized monthly volatility of 19.6% compared with 14.6% for VYM. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -53.9% for DBP and -58.8% for VYM. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.12. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
DBP charges 0.73% per year while VYM charges 0.04%. On a $10,000 position that is $73 vs $4 annually, a gap of $69 per year that compounds over a long holding period. On income, DBP currently yields 2.70% against 2.86% for VYM.
Holdings Overlap
DBP and VYM share 0 holdings out of 560 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, DBP or VYM?
DBP has an expense ratio of 0.73% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $69 per year of difference.
Which performed better, DBP or VYM?
Over the past year DBP returned +31.50% vs +26.12% for VYM, so DBP leads on 1-year performance. Over the longest common window we track (20 years), DBP annualized +8.26% vs +7.07% for VYM. Past performance does not guarantee future results.
Which is riskier, DBP or VYM?
DBP has been the more volatile fund at 19.6% annualized versus 14.6% for VYM. Worst drawdown: DBP -53.9% vs VYM -58.8%.
Should I hold both DBP and VYM?
DBP and VYM have a monthly-return correlation of 0.12, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DBP and VYM?
DBP and VYM share 0 common holdings with a 0.0% weight overlap. Combined, they hold 560 unique securities.
Which pays a higher dividend, DBP or VYM?
DBP yields 2.70% while VYM yields 2.86%, so VYM currently pays the higher dividend yield.
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