- Last Ratings Update:06/30/2014
- Price as of 06/30/2014 :$35.00
- Net Assets:$34.9 Million
- Peer Rank:33 of 42
- Investment Rating:E+
We rate PowerShares DB Silver Fund at E+. This overall rating indicates it is among the top 10% of all closed end funds in its peer group. Negative factors that influence this rating include a short term portfolio management tenure. The fund may be considered for investors seeking a Sector - Precious Metals strategy.
POSITIVES AND RISKS
Total return ranks well below peers over the last three years. The PowerShares DB Silver Fund has returned an annual rate of 5.40% since inception. More recently, the fund has generated a total return of 9.33% in the last five years, -18.05% in the last three years, and 11.74% in the last year. How does that compare to other equity funds? In the last five years, it has outperformed 27% of them. It has also outpaced 5% of its competitors on a three year basis and 36% of them over the last year for the period ending 6/30/2014. On a year to date basis, DBS has returned 8.24%.
Downside risk has been above average. DBS has a draw down risk of -57.40%, which is the largest price decline experienced over the last three years. This fund has a three year standard deviation of 40.1%. This fund has experienced excessive volatility in its monthly performance over the last 36 months. As of 6/30/2014, the fund was trading at a price of $35.00, which is 0.2% below its 52-week high of $35.08 and 13.5% above its 52-week low of $30.83.
High expense ratio hinders performance. On total assets of $34.90 million, DBS maintains a high expense ratio compared to its Sector - Precious Metals peers of 0.77% to cover all operating costs. Brokerage costs for the fund to buy and sell shares are not included in the expense ratio. As DBS is an exchange traded fund, it has no front end or back end load.
The PowerShares DB Silver Fund is managed by Benjamin A. Pace, III at DB Commodity Services LLC. This fund is one of 23 DB Commodity Services LLC exchange-traded funds launched since 2/3/2006 that we track.
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