# Invesco DB Base Metals Fund (DBB)

> Source: Nexqual · https://nexqual.com/DBB · data as of 2026-10-23 20:00 UTC · cite as "Nexqual, Invesco DB Base Metals Fund (DBB), nexqual.com/DBB" · informational, not investment advice.

**Price:** USD 24.88 (+1.10% on the day) · last close of Oct 23, 2026; US market after hours, not a live price. Prev close 24.61 · day 24.74–24.93 · 52w 21.14–26.71 · market cap null · PCX

## Key facts
- Total return with dividends: 1Y +18.3% vs S&P 500 +13.4%; 5Y +35.6% vs S&P 500 +76.9%.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Operating income | -$2.7M | $2.7M | $9.6M | $5.9M | $4.0M | $6.2M |
| Net income | $80.6M | -$66.0M | -$6.0M | $7.5M | $30.6M | $33.6M |
| Cash + short-term investments | $0K | $2.0M | $0K | $0K | $3.5M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)


## Total return (dividends reinvested)
|  | 1Y (from 2025-10-24) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +18.3% | +35.6% |
| S&P 500 (SPY) | +13.4% | +76.9% |
| Per year | +18.4% | +6.3% |
| Volatility (annualized) | 19.3% | 19.5% |
| Max drawdown | -11.0% (Jan 2026→Mar 2026) | -33.8% (Feb 2022→Jul 2022) |

## Peers
DBP (Invesco DB Precious Metals Fund) USD 90.38 -0.81% · DBE (Invesco DB Energy Fund) USD 41.02 +2.68% · DBA (Invesco DB Agriculture Fund) USD 27.87 -0.18% · DBC (Invesco DB Commodity Index Trac) USD 34.1 +1.58% · DBO (Invesco DB Oil Fund) USD 26.87 +3.35%

## More
Full page: https://nexqual.com/DBB · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Options: expected move (Cboe, 15-min delayed)

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 87.9% | ±6.4% |
| 2027-01-15 | 84 | 84.2% | ±12.0% |
| 2027-04-16 | 175 | 22.8% | ±14.6% |