BSCT vs. DBO

Last updated Jun 4, 2026

BSCT (Invesco BulletShares 2029 Corporate Bond ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - BSCT is a Corporate Bonds fund tracking the NASDAQ BulletShares USD Corporate Bond 2029 Index, while DBO is a Oil & Gas fund tracking the DBIQ Optimum Yield Crude Oil Index Excess Return. Both are passively managed. Over the past 5 years, BSCT returned 1.25%/yr vs 15.98%/yr for DBO. At a correlation of -0.08, they often move in opposite directions. BSCT charges 0.10%/yr vs 0.78%/yr for DBO.

Performance

BSCT vs. DBO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco BulletShares 2029 Corporate Bond ETF (BSCT) and Invesco DB Oil Fund (DBO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BSCT achieves a 0.57% return, which is significantly lower than DBO's 84.75% return.

BSCT

• 1D: -0.05%
• 1M: 0.23%
• YTD: 0.57%
• 6M: 0.81%
• 1Y: 4.84%
• 3Y*: 5.61%
• 5Y*: 1.25%
• 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)

BSCT vs. DBO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
BSCT Invesco BulletShares 2029 Corporate Bond ETF	0.57%	7.51%	3.45%	8.61%	-12.88%	-2.13%	10.83%	1.72%
DBO Invesco DB Oil Fund	84.75%	-11.71%	7.85%	-4.44%	13.04%	60.74%	-20.99%	13.45%

Correlation

The correlation between BSCT and DBO is -0.39, 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 (1Y) Calculated over the trailing 1-year period	-0.39
Correlation (3Y) Calculated over the trailing 3-year period	-0.18
Correlation (5Y) Calculated over the trailing 5-year period	-0.11
Correlation (All Time) Calculated using the full available price history since Sep 13, 2019	-0.08

Over the past year, the inverse relationship between BSCT and DBO has strengthened: their correlation has moved from -0.08 to -0.39, meaning they now move in opposite directions more often than their long-term average.

BSCT vs. DBO - Sectors Allocation Comparison

Sectors	BSCT	DBO
Technology	12.6%	-
Financial Services	12.6%	116.0%
Healthcare	11.9%	-
Consumer Cyclical	10.0%	-
Communication Services	6.8%	-
Industrials	6.8%	-
Energy	5.3%	-
Consumer Defensive	4.5%	-
Utilities	4.3%	-
Real Estate	3.1%	-
Basic Materials	1.2%	-

Return for Risk

BSCT vs. DBO — Risk / Return Rank

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

BSCT

BSCT Risk / Return Rank: 65
BSCT Sharpe Ratio Rank: 63
BSCT Sortino Ratio Rank: 72
BSCT Omega Ratio Rank: 68
BSCT Calmar Ratio Rank: 61
BSCT Martin Ratio Rank: 62

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.

BSCT vs. DBO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco BulletShares 2029 Corporate Bond ETF (BSCT) 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.

	BSCT	DBO	Difference
Sharpe ratio Return per unit of total volatility	2.11	2.34	-0.24
Sortino ratio Return per unit of downside risk	3.27	2.94	+0.33
Omega ratio Gain probability vs. loss probability	1.41	1.38	+0.03
Calmar ratio Return relative to maximum drawdown	2.99	4.44	-1.45
Martin ratio Return relative to average drawdown	11.10	9.02	+2.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BSCT vs. DBO - Sharpe Ratio Comparison

The current BSCT Sharpe Ratio is 2.11, which is comparable to the DBO Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of BSCT and DBO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BSCT	DBO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.11	2.34	-0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.22	0.50	-0.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.36	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.02	+0.30

Drawdowns

BSCT vs. DBO - Drawdown Comparison

The maximum BSCT drawdown since its inception was -19.14%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for BSCT and DBO.

Drawdown Indicators

	BSCT	DBO	Difference
Max Drawdown Largest peak-to-trough decline	-19.14%	-90.18%	+71.04%
Max Drawdown (1Y) Largest decline over 1 year	-1.63%	-18.19%	+16.56%
Max Drawdown (3Y) Largest decline over 3 years	-4.21%	-28.20%	+23.99%
Max Drawdown (5Y) Largest decline over 5 years	-19.14%	-37.68%	+18.54%
Max Drawdown (10Y) Largest decline over 10 years	—	-61.69%	—
Current Drawdown Current decline from peak	-0.53%	-51.38%	+50.85%
Average Drawdown Average peak-to-trough decline	-5.37%	-62.25%	+56.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.44%	8.92%	-8.48%

Volatility

BSCT vs. DBO - Volatility Comparison

The current volatility for Invesco BulletShares 2029 Corporate Bond ETF (BSCT) is 0.60%, while Invesco DB Oil Fund (DBO) has a volatility of 12.61%. This indicates that BSCT 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

	BSCT	DBO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.60%	12.61%	-12.01%
Volatility (6M) Calculated over the trailing 6-month period	1.60%	28.20%	-26.60%
Volatility (1Y) Calculated over the trailing 1-year period	2.31%	34.46%	-32.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.71%	32.29%	-26.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.26%	31.78%	-24.52%

BSCT vs. DBO - Expense Ratio Comparison

BSCT has a 0.10% expense ratio, which is lower than DBO's 0.78% expense ratio.

Dividends

BSCT vs. DBO - Dividend Comparison

BSCT's dividend yield for the trailing twelve months is around 4.57%, more than DBO's 1.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BSCT Invesco BulletShares 2029 Corporate Bond ETF	4.57%	4.53%	4.51%	3.89%	2.65%	1.94%	2.24%	0.86%	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 BSCT and DBO in my portfolio?

BSCT and DBO have a correlation of -0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BSCT or DBO?

DBO has higher volatility (12.61%) compared to BSCT (0.60%). In terms of maximum drawdown, BSCT dropped -19.14% vs DBO's -90.18%.

Which ETF is better, BSCT or DBO?

On 5-year performance, DBO leads with 15.98% vs 1.25% for BSCT. On fees, BSCT is cheaper at 0.10% per year. On volatility, BSCT has been the lower-risk option at 0.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BSCT or DBO?

Over the 5-year period, DBO has performed better with a 15.98% return vs 1.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BSCT or DBO?

BSCT is cheaper with a 0.10% expense ratio, compared with 0.78% for DBO.

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

BSCT has the higher dividend yield at 4.57%, compared with 1.90% for DBO.

What is the main difference between BSCT and DBO?

BSCT is categorized as Corporate Bonds, while DBO is Oil & Gas. BSCT tracks NASDAQ BulletShares USD Corporate Bond 2029 Index, while DBO tracks DBIQ Optimum Yield Crude Oil Index Excess Return. Their fees differ too: 0.10% for BSCT and 0.78% for DBO.

Which has better risk-adjusted returns?

DBO currently has the higher Sharpe Ratio (2.34 vs 2.11), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.