AVTM vs. DBO

Last updated Jun 5, 2026

AVTM (Avantis Total Equity Markets ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - AVTM is a Global Equities fund actively managed by Avantis, while DBO is a Oil & Gas fund tracking the DBIQ Optimum Yield Crude Oil Index Excess Return. AVTM is actively managed, while DBO is passively managed. At a correlation of -0.55, they often move in opposite directions. AVTM charges 0.22%/yr vs 0.78%/yr for DBO.

Performance

AVTM vs. DBO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis Total Equity Markets ETF (AVTM) and Invesco DB Oil Fund (DBO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

AVTM

• 1D: 0.85%
• 1M: 5.22%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DBO

• 1D: -2.66%
• 1M: -3.39%
• YTD: 79.84%
• 6M: 74.51%
• 1Y: 77.38%
• 3Y*: 20.83%
• 5Y*: 15.36%
• 10Y*: 10.89%

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

AVTM vs. DBO - Yearly Performance Comparison

	2026 (YTD)
AVTM Avantis Total Equity Markets ETF	9.99%
DBO Invesco DB Oil Fund	65.21%

Correlation

The correlation between AVTM and DBO is -0.55, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 3, 2026	-0.55

AVTM vs. DBO - Sectors Allocation Comparison

Sectors	AVTM	DBO
Technology	31.0%	-
Financial Services	16.6%	116.0%
Industrials	11.9%	-
Consumer Cyclical	11.0%	-
Communication Services	10.2%	-
Healthcare	6.4%	-
Energy	4.2%	-
Consumer Defensive	4.2%	-
Basic Materials	2.7%	-
Utilities	1.8%	-
Real Estate	0.2%	-

Return for Risk

AVTM 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: 61
DBO Calmar Ratio Rank: 82
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.

AVTM vs. DBO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis Total Equity Markets ETF (AVTM) 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

	AVTM	DBO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.25	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.48	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.34	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.07	0.02	+2.05

Drawdowns

AVTM vs. DBO - Drawdown Comparison

The maximum AVTM drawdown since its inception was -9.21%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for AVTM and DBO.

Drawdown Indicators

	AVTM	DBO	Difference
Max Drawdown Largest peak-to-trough decline	-9.21%	-90.18%	+80.97%
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%	-52.68%	+52.68%
Average Drawdown Average peak-to-trough decline	-2.06%	-62.25%	+60.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	8.94%	—

Volatility

Volatility by Period

	AVTM	DBO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	12.79%	—
Volatility (6M) Calculated over the trailing 6-month period	—	28.32%	—
Volatility (1Y) Calculated over the trailing 1-year period	15.84%	34.58%	-18.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.84%	32.31%	-16.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.84%	31.79%	-15.95%

AVTM vs. DBO - Expense Ratio Comparison

AVTM has a 0.22% expense ratio, which is lower than DBO's 0.78% expense ratio.

Dividends

AVTM vs. DBO - Dividend Comparison

AVTM's dividend yield for the trailing twelve months is around 0.08%, less than DBO's 1.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
AVTM Avantis Total Equity Markets ETF	0.08%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DBO Invesco DB Oil Fund	1.95%	3.51%	4.68%	4.59%	0.66%	0.00%	0.00%	1.63%	1.58%

Frequently Asked Questions

Can I hold both AVTM and DBO in my portfolio?

AVTM and DBO have a correlation of -0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AVTM or DBO?

On fees, AVTM is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AVTM or DBO?

AVTM is cheaper with a 0.22% expense ratio, compared with 0.78% for DBO.

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

DBO has the higher dividend yield at 1.95%, compared with 0.08% for AVTM.

What is the main difference between AVTM and DBO?

AVTM is categorized as Global Equities, while DBO is Oil & Gas. They also come from different issuers: Avantis and Invesco. Their fees differ too: 0.22% for AVTM and 0.78% for DBO.