BPH vs. DBO

Last updated Apr 1, 2026

Compare and contrast key facts about BP p.l.c. ADRhedged ETF (BPH) and Invesco DB Oil Fund (DBO).

BPH and DBO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BPH is an actively managed fund by Precidian. It was launched on Jan 3, 2025. DBO is a passively managed fund by Invesco that tracks the performance of the DBIQ Optimum Yield Crude Oil Index Excess Return. It was launched on Jan 5, 2007.

Performance

BPH vs. DBO - Performance Comparison

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

BPH vs. DBO - Yearly Performance Comparison

	2026 (YTD)	2025
BPH BP p.l.c. ADRhedged ETF	37.33%	6.33%
DBO Invesco DB Oil Fund	61.23%	-14.34%

Returns By Period

In the year-to-date period, BPH achieves a 37.33% return, which is significantly lower than DBO's 61.23% return.

BPH

• 1D: -1.40%
• 1M: 21.65%
• YTD: 37.33%
• 6M: 39.70%
• 1Y: 40.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DBO

• 1D: -5.52%
• 1M: 36.22%
• YTD: 61.23%
• 6M: 51.46%
• 1Y: 42.16%
• 3Y*: 15.27%
• 5Y*: 15.55%
• 10Y*: 11.99%

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

BPH vs. DBO - Expense Ratio Comparison

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

DBO

Invesco DB Oil Fund

BPH

BP p.l.c. ADRhedged ETF

Return for Risk

BPH vs. DBO — Risk / Return Rank

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

BPH

BPH Risk / Return Rank: 65
BPH Sharpe Ratio Rank: 74
BPH Sortino Ratio Rank: 69
BPH Omega Ratio Rank: 68
BPH Calmar Ratio Rank: 69
BPH Martin Ratio Rank: 47

DBO

DBO Risk / Return Rank: 68
DBO Sharpe Ratio Rank: 69
DBO Sortino Ratio Rank: 73
DBO Omega Ratio Rank: 63
DBO Calmar Ratio Rank: 86
DBO Martin Ratio Rank: 50

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.

BPH vs. DBO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BP p.l.c. ADRhedged ETF (BPH) 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.

	BPH	DBO	Difference
Sharpe ratio Return per unit of total volatility	1.38	1.18	+0.20
Sortino ratio Return per unit of downside risk	1.80	1.77	+0.03
Omega ratio Gain probability vs. loss probability	1.26	1.22	+0.03
Calmar ratio Return relative to maximum drawdown	1.82	2.52	-0.70
Martin ratio Return relative to average drawdown	4.64	4.52	+0.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BPH vs. DBO - Sharpe Ratio Comparison

The current BPH Sharpe Ratio is 1.38, which is comparable to the DBO Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of BPH and DBO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	BPH	DBO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.38	1.18	+0.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.49	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.38	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.26	-0.00	+1.26

Correlation

The correlation between BPH and DBO is 0.55, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

BPH vs. DBO - Dividend Comparison

BPH's dividend yield for the trailing twelve months is around 1.85%, less than DBO's 2.18% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BPH BP p.l.c. ADRhedged ETF	1.85%	1.74%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DBO Invesco DB Oil Fund	2.18%	3.51%	4.68%	4.59%	0.66%	0.00%	0.00%	1.63%	1.58%

Drawdowns

BPH vs. DBO - Drawdown Comparison

The maximum BPH drawdown since its inception was -26.32%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for BPH and DBO.

Drawdown Indicators

	BPH	DBO	Difference
Max Drawdown Largest peak-to-trough decline	-26.32%	-90.18%	+63.86%
Max Drawdown (1Y) Largest decline over 1 year	-22.40%	-18.19%	-4.21%
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	-1.40%	-57.57%	+56.17%
Average Drawdown Average peak-to-trough decline	-7.53%	-62.32%	+54.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.79%	10.15%	-1.36%

Volatility

BPH vs. DBO - Volatility Comparison

The current volatility for BP p.l.c. ADRhedged ETF (BPH) is 8.41%, while Invesco DB Oil Fund (DBO) has a volatility of 15.71%. This indicates that BPH experiences smaller price fluctuations and is considered to be less risky than DBO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BPH	DBO	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.41%	15.71%	-7.30%
Volatility (6M) Calculated over the trailing 6-month period	19.41%	25.15%	-5.74%
Volatility (1Y) Calculated over the trailing 1-year period	29.54%	35.96%	-6.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.80%	31.74%	-2.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.80%	31.52%	-2.72%