Invesco DB Oil Fund (DBO)

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The chart shows the growth of an initial investment of $10,000 in Invesco DB Oil Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.

Invesco DB Oil Fund (DBO) has returned 61.23% so far this year and 42.16% over the past 12 months. Over the last ten years, DBO has had an annualized return of 11.99%, just under the S&P 500 Index benchmark’s 12.16%.

Based on dividend-adjusted daily data since Jan 5, 2007, DBO's average daily return is +0.02%, while the average monthly return is +0.38%. At this rate, your investment would double in approximately 15.2 years.

Historically, 54% of months were positive and 46% were negative. The best month was Mar 2026 with a return of +36.2%, while the worst month was Oct 2008 at -29.0%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 8 months.

On a daily basis, DBO closed higher 52% of trading days. The best single day was Mar 19, 2020 with a return of +10.6%, while the worst single day was Mar 9, 2020 at -16.7%.

Invesco DB Oil Fund has an annualized alpha of -0.76%, beta of 0.58, and R² of 0.13 versus S&P 500 Index. Calculated based on daily prices since January 08, 2007.

• This ETF participated in 99.79% of S&P 500 Index downside but only 63.68% of its upside — more exposed to losses than it benefited from rallies.
• Beta of 0.58 may look defensive, but with R² of 0.13 this ETF is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
• R² of 0.13 means this ETF moves largely independently of S&P 500 Index — capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

DBO has an expense ratio of 0.78%, placing it in the medium range.

DBO ranks 64 for risk / return — better than 64% of ETFs on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.

The table below present risk-adjusted performance metrics for Invesco DB Oil Fund (DBO) and compare them to a chosen benchmark (S&P 500 Index).

Invesco DB Oil Fund provided a 2.18% dividend yield over the last twelve months, with an annual payout of $0.43 per share.

The table displays the monthly dividend distributions for Invesco DB Oil Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

The table below displays the maximum drawdowns of the Invesco DB Oil Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the Invesco DB Oil Fund was 90.18%, occurring on Apr 28, 2020. The portfolio has not yet recovered.

The current Invesco DB Oil Fund drawdown is 57.57%.

The chart below shows the rolling one-month volatility.