Invesco DB Base Metals Fund (DBB) Performance
DBB total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +8.5% since Dec 31, 2025
- 1 year
- +18.8% total return
- 5 years
- +5.7% a year
- 10 years
- +8.4% a year
- Since first price
- +1.5% a year since 2007
DBB trailing returns vs SPY, QQQ, AGG
| Period | DBB total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −3.6% | −3.6% | −1.0% | −5.0% | +0.9% |
| 3 months | +0.7% | +0.7% | +3.2% | +1.9% | −0.4% |
| 6 months | −1.2% | −1.2% | +7.8% | +8.4% | −1.5% |
| YTD | +8.5% | +8.5% | +12.3% | +15.1% | −1.0% |
| 1 year | +18.8% | +15.7% | +14.4% | +15.9% | −1.1% |
| 3 years | +60.1%+17.0%/yr | +38.4% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +32.2%+5.7%/yr | +13.2% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +123.3%+8.4%/yr | +85.0% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +60.4%+3.2%/yr | +32.8% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionJan 5, 2007 | +35.5%+1.5%/yr | +4.9% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: DBB vs SPY
From Jan 5, 2007: DBB grew to $13,552, SPY to $77,514.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
DBB returns by calendar year
10 of 18 full years positive. Best 2009 (+88.9%), worst 2008 (−44.3%). 2026 is year to date.
DBB annual returns table
| Year | DBB | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +8.5% | −11.0% | +12.3% | +15.1% | −1.0% |
| 2025 | +25.0% | −13.6% | +17.7% | +20.8% | +7.2% |
| 2024 | +7.9% | −16.5% | +24.9% | +25.6% | +1.3% |
| 2023 | +1.1% | −21.6% | +26.2% | +54.9% | +5.7% |
| 2022 | −11.8% | −35.0% | −18.2% | −32.6% | −13.0% |
| 2021 | +29.0% | −13.9% | +28.7% | +27.4% | −1.8% |
| 2020 | +15.5% | −22.6% | +18.3% | +48.6% | +7.5% |
| 2019 | −1.2% | −15.2% | +31.2% | +39.0% | +8.5% |
| 2018 | −19.5% | −21.9% | −4.6% | −0.1% | +0.1% |
| 2017 | +30.1% | −7.6% | +21.7% | +32.7% | +3.6% |
| 2016 | +25.6% | −8.4% | +12.0% | +7.1% | +2.4% |
| 2015 | −25.3% | −32.1% | +1.2% | +9.4% | +0.5% |
| 2014 | −5.7% | −12.3% | +13.5% | +19.2% | +6.0% |
| 2013 | −12.5% | −20.0% | +32.3% | +36.6% | −2.0% |
| 2012 | +3.4% | −19.5% | +16.0% | +18.1% | +3.8% |
| 2011 | −23.7% | −29.4% | +1.9% | +3.4% | +7.7% |
| 2010 | +8.6% | −28.9% | +15.1% | +19.9% | +6.4% |
| 2009 | +88.9% | −15.9% | +26.4% | +54.7% | +3.0% |
| 2008 | −44.3% | −59.3% | −36.8% | −41.7% | +7.9% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
DBB largest drawdowns
Now 6.6% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| May 4, 2007 | −60.2% | Feb 23, 2009 | Mar 4, 2022 | 1.8 years | 14.8 years |
| Mar 4, 2022 | −35.0% | Sep 27, 2022 | Jan 5, 2026 | 7 months | 3.8 years |
| Jan 29, 2026 | −11.0% | Mar 20, 2026 | Apr 22, 2026 | 50 days | 3 months |
| Jun 2, 2026 | −10.7% | Jun 24, 2026 | not yet | 22 days | 5 months so far |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
DBB risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2007 |
|---|---|---|---|---|
| Annualized return | +15.2% | +7.4% | +8.1% | +1.7% |
| Volatility (annualized) | 15.4% | 19.5% | 18.0% | 20.7% |
| Sharpe ratio | 0.71 | 0.28 | 0.39 | 0.12 |
| Sortino ratio | 1.21 | 0.42 | 0.62 | 0.17 |
| Best month | +13.1% | +14.5% | +14.5% | +14.5% |
| Worst month | −7.3% | −15.5% | −15.5% | −26.3% |
| Best 12 months | +45.1% | +45.1% | +62.7% | +88.9% |
| Worst 12 months | −8.3% | −22.3% | −26.2% | −55.7% |
| Positive months | 61% | 55% | 55% | 53% |
| Beta vs S&P 500 | 0.27 | 0.56 | 0.57 | — |
| Correlation with S&P 500 | 0.22 | 0.45 | 0.48 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
DBB rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 226 | −55.7% | +0.4% | +88.9% | 50% |
| 3-year (a year) | 202 | −15.7% | +1.2% | +23.1% | 54% |
| 5-year (a year) | 178 | −13.7% | +0.9% | +12.1% | 56% |
| 10-year (a year) | 118 | −5.5% | +1.2% | +9.6% | 59% |
Every holding period starting at a month-end since 2007. Returns for 3 years and longer are annualized.
DBB performance overview
Invesco DB Base Metals Fund (DBB) returned +18.8% over the past year and +8.4% a year over ten years, with distributions reinvested. Since its first recorded price in 2007 it has returned +1.5% a year, turning $10,000 into about $13,552. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −60.2%, from May 4, 2007 to Feb 23, 2009, and it took 13.0 years to get back to the old high. DBB finished 10 of its 18 full calendar years with a gain; the best year was 2009 (+88.9%) and the worst 2008 (−44.3%). Volatility has been 20.7% a year.
Related: DBB chart, DBB dividends. See the DBB overview for the latest quote and fund facts.
DBB performance FAQ
What is the DBB return over the past year?
DBB returned +18.8% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 15.7%.
What is the average annual return of DBB?
DBB has returned +5.7% a year over 5 years, +8.4% a year over 10 years, +1.5% a year since January 5, 2007 (total return, distributions reinvested).
How much would $10,000 invested in DBB be worth?
$10,000 invested in DBB at its first recorded close on January 5, 2007 would be worth about $13,552 on October 23, 2026 with distributions reinvested.
What was the worst year for DBB?
The worst calendar year was 2008, with a total return of −44.3%. The best was 2009 at +88.9%.
What is the biggest drawdown of DBB?
The largest peak-to-trough decline was −60.2% between May 4, 2007 and February 23, 2009. It recovered to the old high on March 4, 2022, 13.0 years after the bottom.
How volatile is DBB?
Over the past 3 years DBB had an annualized volatility of 15.4% and a Sharpe ratio of 0.71 (excess return over 1–3 month T-bills per unit of risk).