DBO vs. TPL
Compare and contrast key facts about Invesco DB Oil Fund (DBO) and Texas Pacific Land Corporation (TPL).
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.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: DBO or TPL.
Key characteristics
| DBO | TPL | |
|---|---|---|
| YTD Return | 9.78% | 15.55% |
| 1Y Return | 15.95% | 39.45% |
| 3Y Return (Ann) | 11.23% | 5.95% |
| 5Y Return (Ann) | 8.56% | 21.42% |
| 10Y Return (Ann) | -5.48% | 31.85% |
| Sharpe Ratio | 0.60 | 1.02 |
| Daily Std Dev | 24.95% | 34.20% |
| Max Drawdown | -90.18% | -72.77% |
| Current Drawdown | -69.66% | -31.24% |
Correlation
The correlation between DBO and TPL is 0.32, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
DBO vs. TPL - Performance Comparison
In the year-to-date period, DBO achieves a 9.78% return, which is significantly lower than TPL's 15.55% return. Over the past 10 years, DBO has underperformed TPL with an annualized return of -5.48%, while TPL has yielded a comparatively higher 31.85% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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Risk-Adjusted Performance
DBO vs. TPL - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB Oil Fund (DBO) and Texas Pacific Land Corporation (TPL). 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.
Dividends
DBO vs. TPL - Dividend Comparison
DBO's dividend yield for the trailing twelve months is around 4.18%, more than TPL's 2.20% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBO Invesco DB Oil Fund | 4.18% | 4.59% | 0.66% | 0.00% | 0.00% | 1.63% | 1.59% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TPL Texas Pacific Land Corporation | 2.20% | 2.48% | 4.10% | 2.64% | 10.73% | 2.30% | 2.24% | 0.91% | 0.31% | 0.66% | 0.69% | 0.81% |
Drawdowns
DBO vs. TPL - Drawdown Comparison
The maximum DBO drawdown since its inception was -90.18%, which is greater than TPL's maximum drawdown of -72.77%. Use the drawdown chart below to compare losses from any high point for DBO and TPL. For additional features, visit the drawdowns tool.
Volatility
DBO vs. TPL - Volatility Comparison
The current volatility for Invesco DB Oil Fund (DBO) is 4.41%, while Texas Pacific Land Corporation (TPL) has a volatility of 11.48%. This indicates that DBO experiences smaller price fluctuations and is considered to be less risky than TPL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.