DDTS vs. DBO

Last updated Aug 1, 2026

DDTS (Innovator Equity Dual Directional 10 Buffer ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - DDTS is a Defined Outcome fund actively managed by Innovator, while DBO is a Oil & Gas fund tracking the DBIQ Optimum Yield Crude Oil Index Excess Return. DDTS is actively managed, while DBO is passively managed. Their -0.25 correlation means they have often moved in opposite directions in the past. DDTS charges 0.79%/yr vs 0.78%/yr for DBO.

Performance

DDTS vs. DBO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Equity Dual Directional 10 Buffer ETF (DDTS) 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, DDTS achieves a 6.59% return, which is significantly lower than DBO's 76.48% return.

DDTS

• 1D: 0.31%
• 1M: 0.90%
• 6M: 5.81%
• YTD: 6.59%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

DBO

• 1D: 1.56%
• 1M: 24.59%
• 6M: 53.46%
• YTD: 76.48%
• 1Y: 60.30%
• 3Y*: 14.86%
• 5Y*: 13.46%
• 10Y*: 12.59%
• ALL TIME*: 0.52%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DBO Invesco DB Oil Fund	$11.01M	$10.23M	$13.95M
DDTS Innovator Equity Dual Directional 10 Buffer ETF	$86.44K	$63.95K	$163.16K

DDTS vs. DBO - Yearly Performance Comparison

	2026 (YTD)	2025
DDTS Innovator Equity Dual Directional 10 Buffer ETF	6.59%	4.57%
DBO Invesco DB Oil Fund	76.48%	-7.23%

Correlation

The correlation between DDTS and DBO is -0.25, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 2, 2025	-0.25

Return for Risk

DDTS vs. DBO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DDTS

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

DBO

DBO Risk / Return Rank: 58
DBO Sharpe Ratio Rank: 62
DBO Sortino Ratio Rank: 61
DBO Omega Ratio Rank: 57
DBO Calmar Ratio Rank: 57
DBO Martin Ratio Rank: 52

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DDTS vs. DBO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Dual Directional 10 Buffer ETF (DDTS) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	DDTS	DBO	Difference
Sharpe ratio: Return per unit of total volatility	—	1.45	—
Sortino ratio: Return per unit of downside risk	—	2.05	—
Omega ratio: Gain probability vs. loss probability	—	1.25	—
Calmar ratio: Return relative to maximum drawdown	—	2.01	—
Martin ratio: Return relative to average drawdown	—	6.09	—

Drawdowns

DDTS vs. DBO - Drawdown Comparison

The maximum DDTS drawdown since its inception was -4.28%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for DDTS and DBO.

Drawdown Indicators

	DDTS	DBO	Difference
Max Drawdown Largest peak-to-trough decline	-4.28%	-90.18%	+85.90%
Max Drawdown (1Y) Largest decline over 1 year	—	-27.73%	—
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%	-53.56%	+53.56%
Average Drawdown Average peak-to-trough decline	-0.48%	-62.20%	+61.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	9.96%	—

Volatility

Volatility by Period

	DDTS	DBO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	17.75%	—
Volatility (6M) Calculated over the trailing 6-month period	—	33.77%	—
Volatility (1Y) Calculated over the trailing 1-year period	6.35%	38.53%	-32.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.35%	33.35%	-27.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.35%	32.20%	-25.85%

DDTS vs. DBO - Expense Ratio Comparison

DDTS has a 0.79% expense ratio, which is higher than DBO's 0.78% expense ratio.

Dividends

DDTS vs. DBO - Dividend Comparison

DDTS has not paid dividends to shareholders, while DBO's dividend yield for the trailing twelve months is around 1.99%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DBO Invesco DB Oil Fund	1.99%	3.51%	4.68%	4.59%	0.66%	0.00%	0.00%	1.63%	1.58%
DDTS Innovator Equity Dual Directional 10 Buffer ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DDTS and DBO in my portfolio?

DDTS and DBO have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DDTS or DBO?

On fees, DBO is cheaper at 0.78% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DDTS or DBO?

DBO is cheaper with a 0.78% expense ratio, compared with 0.79% for DDTS.

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

DBO has the higher dividend yield at 1.99%, compared with 0.00% for DDTS.

What is the main difference between DDTS and DBO?

DDTS is categorized as Defined Outcome, while DBO is Oil & Gas. They also come from different issuers: Innovator and Invesco. Their fees differ too: 0.79% for DDTS and 0.78% for DBO.