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Invesco DB Oil Fund (DBO)
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

ETF Info

ISIN

US46140H4039

CUSIP

46140H403

Issuer

Invesco

Inception Date

Jan 5, 2007

Category

Oil & Gas

Leveraged

1x

Index Tracked

DBIQ Optimum Yield Crude Oil Index Excess Return

Asset Class

Commodity

Expense Ratio

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


Share Price Chart


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Compare to other instruments

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.


Performance

Performance Chart


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Returns By Period

Invesco DB Oil Fund (DBO) returned -11.25% year-to-date (YTD) and -12.81% over the past 12 months. Over the past 10 years, DBO returned -0.35% annually, underperforming the S&P 500 benchmark at 10.79%.


DBO

YTD

-11.25%

1M

1.52%

6M

-6.24%

1Y

-12.81%

5Y*

19.31%

10Y*

-0.35%

^GSPC (Benchmark)

YTD

0.60%

1M

9.64%

6M

-0.54%

1Y

11.47%

5Y*

15.67%

10Y*

10.79%

*Annualized

Monthly Returns

The table below presents the monthly returns of DBO, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
20252.87%-3.60%0.99%-16.19%5.75%-11.25%
20244.17%0.83%6.37%0.26%-2.37%4.21%-2.46%-5.05%-4.84%3.94%-1.65%5.06%7.85%
2023-0.66%-2.78%-0.82%1.24%-9.36%5.61%14.45%2.41%6.65%-6.29%-6.53%-5.99%-4.44%
202211.59%4.70%9.41%2.71%9.33%-6.22%-1.92%-5.25%-10.43%9.41%-5.06%-2.87%13.04%
20217.59%16.54%-0.47%6.84%5.16%9.05%1.47%-4.28%9.58%10.28%-18.70%10.16%60.74%
2020-14.90%-10.57%-24.51%-9.63%17.33%7.54%4.87%4.91%-6.50%-10.71%23.21%6.57%-20.99%
201917.12%4.23%1.64%3.90%-14.38%7.38%1.30%-7.08%0.11%1.27%2.82%10.11%28.05%
20187.98%-4.29%6.48%5.82%0.85%4.53%-2.01%3.52%6.65%-9.72%-22.10%-9.22%-15.22%
2017-3.41%-0.43%-5.59%-2.84%-2.93%-2.65%5.82%-2.46%5.52%5.12%4.76%4.85%4.85%
2016-11.60%-7.75%5.29%10.68%5.35%1.10%-12.01%4.59%5.22%-3.38%5.02%7.55%6.96%
2015-13.25%7.42%-7.79%12.53%-2.90%-0.95%-17.26%2.90%-8.69%2.11%-9.75%-13.48%-42.36%
2014-2.97%6.58%-0.10%-0.56%3.55%4.38%-6.05%-1.73%-4.47%-10.87%-17.16%-21.62%-43.33%

Risk-Adjusted Performance

Risk-Adjusted Performance Rank

The current rank of DBO is 6, meaning it’s performing worse than 94% of other ETFs on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.


The Risk-Adjusted Performance Rank of DBO is 66
Overall Rank
The Sharpe Ratio Rank of DBO is 66
Sharpe Ratio Rank
The Sortino Ratio Rank of DBO is 66
Sortino Ratio Rank
The Omega Ratio Rank of DBO is 66
Omega Ratio Rank
The Calmar Ratio Rank of DBO is 99
Calmar Ratio Rank
The Martin Ratio Rank of DBO is 33
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

Risk-Adjusted Performance Indicators

The charts below present risk-adjusted performance metrics for Invesco DB Oil Fund (DBO) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.


The Sharpe ratio helps investors understand how much return they're getting for the level of risk taken. A higher Sharpe ratio indicates better risk-adjusted performance, meaning more reward for each unit of risk.

Invesco DB Oil Fund Sharpe ratios as of May 16, 2025 (values are recalculated daily):

  • 1-Year: -0.42
  • 5-Year: 0.61
  • 10-Year: -0.01
  • All Time: -0.08

These values reflect how efficiently the investment has delivered returns relative to its volatility over different time periods. All figures are annualized and based on daily total returns (including price changes and dividends).

The chart below shows the rolling Sharpe ratio of Invesco DB Oil Fund compared to the selected benchmark. This view highlights how the investment's risk-adjusted performance has changed over time. For deeper analysis or to customize the calculation, use the Sharpe ratio tool.


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Dividends

Dividend History

Invesco DB Oil Fund provided a 5.27% dividend yield over the last twelve months, with an annual payout of $0.67 per share. The fund has been increasing its distributions for 2 consecutive years.


0.00%1.00%2.00%3.00%4.00%5.00%$0.00$0.10$0.20$0.30$0.40$0.50$0.60$0.702018201920202021202220232024
Dividends
Dividend Yield
PeriodTTM2024202320222021202020192018
Dividend$0.67$0.67$0.64$0.10$0.00$0.00$0.17$0.13

Dividend yield

5.27%4.68%4.59%0.66%0.00%0.00%1.63%1.59%

Monthly Dividends

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.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
2025$0.00$0.00$0.00$0.00$0.00$0.00
2024$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.67$0.67
2023$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.64$0.64
2022$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.10$0.10
2021$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00
2020$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00
2019$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.17$0.17
2018$0.13$0.13

Drawdowns

Drawdowns Chart

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.


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Worst Drawdowns

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 73.55%.


Depth

Start

To Bottom

Bottom

To Recover

End

Total

-90.18%Jul 15, 20082968Apr 28, 2020
-11.3%Jan 4, 200813Jan 23, 200818Feb 19, 200831
-9.74%Jan 9, 20077Jan 18, 20079Jan 31, 200716
-8.93%May 22, 20089Jun 4, 20082Jun 6, 200811
-8.34%Nov 21, 200710Dec 5, 200715Dec 27, 200725

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.


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