ARMH vs. DBO

Last updated Jun 4, 2026

ARMH (Arm Holdings PLC ADRhedged ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - ARMH is a Technology Equities fund actively managed by Precidian, while DBO is a Oil & Gas fund tracking the DBIQ Optimum Yield Crude Oil Index Excess Return. ARMH is actively managed, while DBO is passively managed. At a 0.40 correlation, their price movements are largely independent. ARMH charges 0.19%/yr vs 0.78%/yr for DBO.

Performance

ARMH vs. DBO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Arm Holdings PLC ADRhedged ETF (ARMH) and Invesco DB Oil Fund (DBO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ARMH

• 1D: 2.87%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DBO

• 1D: 2.27%
• 1M: -2.34%
• YTD: 84.75%
• 6M: 81.10%
• 1Y: 80.26%
• 3Y*: 21.86%
• 5Y*: 15.98%
• 10Y*: 11.37%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ARMH vs. DBO - Yearly Performance Comparison

	2026 (YTD)
ARMH Arm Holdings PLC ADRhedged ETF	23.00%
DBO Invesco DB Oil Fund	5.18%

Correlation

The correlation between ARMH and DBO is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 29, 2026	0.40

Return for Risk

ARMH vs. DBO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DBO

DBO Risk / Return Rank: 65
DBO Sharpe Ratio Rank: 70
DBO Sortino Ratio Rank: 62
DBO Omega Ratio Rank: 60
DBO Calmar Ratio Rank: 83
DBO Martin Ratio Rank: 52

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ARMH vs. DBO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Arm Holdings PLC ADRhedged ETF (ARMH) and Invesco DB Oil Fund (DBO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	ARMH	DBO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.34	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.50	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.36	—
Sharpe Ratio (All Time) Calculated using the full available price history	471,500.14	0.02	+471,500.12

Drawdowns

ARMH vs. DBO - Drawdown Comparison

The maximum ARMH drawdown since its inception was -1.61%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for ARMH and DBO.

Drawdown Indicators

	ARMH	DBO	Difference
Max Drawdown Largest peak-to-trough decline	-1.61%	-90.18%	+88.57%
Max Drawdown (1Y) Largest decline over 1 year	—	-18.19%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-28.20%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-37.68%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-61.69%	—
Current Drawdown Current decline from peak	0.00%	-51.38%	+51.38%
Average Drawdown Average peak-to-trough decline	-0.40%	-62.25%	+61.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	8.92%	—

Volatility

Volatility by Period

	ARMH	DBO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	12.61%	—
Volatility (6M) Calculated over the trailing 6-month period	—	28.20%	—
Volatility (1Y) Calculated over the trailing 1-year period	113.00%	34.46%	+78.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	113.00%	32.29%	+80.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	113.00%	31.78%	+81.22%

ARMH vs. DBO - Expense Ratio Comparison

ARMH has a 0.19% expense ratio, which is lower than DBO's 0.78% expense ratio.

Dividends

ARMH vs. DBO - Dividend Comparison

ARMH has not paid dividends to shareholders, while DBO's dividend yield for the trailing twelve months is around 1.90%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
ARMH Arm Holdings PLC ADRhedged ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DBO Invesco DB Oil Fund	1.90%	3.51%	4.68%	4.59%	0.66%	0.00%	0.00%	1.63%	1.58%

Frequently Asked Questions

Can I hold both ARMH and DBO in my portfolio?

ARMH and DBO have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ARMH or DBO?

On fees, ARMH is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ARMH or DBO?

ARMH is cheaper with a 0.19% expense ratio, compared with 0.78% for DBO.

Which ETF pays a higher dividend yield, ARMH or DBO?

DBO has the higher dividend yield at 1.90%, compared with 0.00% for ARMH.

What is the main difference between ARMH and DBO?

ARMH is categorized as Technology Equities, while DBO is Oil & Gas. They also come from different issuers: Precidian and Invesco. Their fees differ too: 0.19% for ARMH and 0.78% for DBO.