DBO vs. BRNT.L
Compare and contrast key facts about Invesco DB Oil Fund (DBO) and WisdomTree Brent Crude Oil (BRNT.L).
DBO and BRNT.L are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. BRNT.L is a passively managed fund by WisdomTree that tracks the performance of the Bloomberg Brent Crude Subindex. It was launched on Jan 9, 2012. Both DBO and BRNT.L are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
DBO vs. BRNT.L - Performance Comparison
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DBO vs. BRNT.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DBO Invesco DB Oil Fund | 55.98% | -11.71% | 7.85% | -4.44% | 13.04% | 60.74% | -20.99% | 28.05% | -15.22% | 4.86% |
BRNT.L WisdomTree Brent Crude Oil | 68.54% | -6.34% | 7.45% | 1.08% | 35.10% | 66.26% | -33.22% | 32.15% | -13.92% | 12.39% |
Returns By Period
In the year-to-date period, DBO achieves a 55.98% return, which is significantly lower than BRNT.L's 68.54% return. Over the past 10 years, DBO has underperformed BRNT.L with an annualized return of 11.62%, while BRNT.L has yielded a comparatively higher 15.64% annualized return.
DBO
- 1D
- -3.25%
- 1M
- 23.41%
- YTD
- 55.98%
- 6M
- 47.63%
- 1Y
- 37.53%
- 3Y*
- 14.00%
- 5Y*
- 14.79%
- 10Y*
- 11.62%
BRNT.L
- 1D
- -6.07%
- 1M
- 30.64%
- YTD
- 68.54%
- 6M
- 61.53%
- 1Y
- 51.92%
- 3Y*
- 21.15%
- 5Y*
- 25.11%
- 10Y*
- 15.64%
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DBO vs. BRNT.L - Expense Ratio Comparison
DBO has a 0.78% expense ratio, which is higher than BRNT.L's 0.49% expense ratio.
Return for Risk
DBO vs. BRNT.L — Risk / Return Rank
DBO
BRNT.L
DBO vs. BRNT.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB Oil Fund (DBO) and WisdomTree Brent Crude Oil (BRNT.L). 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.
| DBO | BRNT.L | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.05 | 1.36 | -0.31 |
Sortino ratioReturn per unit of downside risk | 1.62 | 1.88 | -0.27 |
Omega ratioGain probability vs. loss probability | 1.20 | 1.27 | -0.06 |
Calmar ratioReturn relative to maximum drawdown | 2.06 | 2.82 | -0.76 |
Martin ratioReturn relative to average drawdown | 3.69 | 5.24 | -1.55 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DBO | BRNT.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.05 | 1.36 | -0.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.47 | 0.75 | -0.29 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.37 | 0.45 | -0.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.01 | 0.03 | -0.03 |
Correlation
The correlation between DBO and BRNT.L is 0.62, 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
DBO vs. BRNT.L - Dividend Comparison
DBO's dividend yield for the trailing twelve months is around 2.25%, while BRNT.L has not paid dividends to shareholders.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
DBO Invesco DB Oil Fund | 2.25% | 3.51% | 4.68% | 4.59% | 0.66% | 0.00% | 0.00% | 1.63% | 1.58% |
BRNT.L WisdomTree Brent Crude Oil | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
DBO vs. BRNT.L - Drawdown Comparison
The maximum DBO drawdown since its inception was -90.18%, roughly equal to the maximum BRNT.L drawdown of -85.97%. Use the drawdown chart below to compare losses from any high point for DBO and BRNT.L.
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Drawdown Indicators
| DBO | BRNT.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.18% | -85.97% | -4.21% |
Max Drawdown (1Y)Largest decline over 1 year | -18.19% | -18.66% | +0.47% |
Max Drawdown (5Y)Largest decline over 5 years | -37.68% | -31.44% | -6.24% |
Max Drawdown (10Y)Largest decline over 10 years | -61.69% | -71.94% | +10.25% |
Current DrawdownCurrent decline from peak | -58.95% | -6.80% | -52.15% |
Average DrawdownAverage peak-to-trough decline | -62.32% | -49.21% | -13.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.16% | 10.04% | +0.12% |
Volatility
DBO vs. BRNT.L - Volatility Comparison
The current volatility for Invesco DB Oil Fund (DBO) is 16.15%, while WisdomTree Brent Crude Oil (BRNT.L) has a volatility of 22.71%. This indicates that DBO experiences smaller price fluctuations and is considered to be less risky than BRNT.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBO | BRNT.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.15% | 22.71% | -6.56% |
Volatility (6M)Calculated over the trailing 6-month period | 25.38% | 29.75% | -4.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.04% | 38.04% | -2.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 31.73% | 33.31% | -1.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.53% | 34.90% | -3.37% |