EMNT vs. DBO
EMNT (PIMCO Enhanced Short Maturity Active ESG ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - EMNT is a Ultrashort Bond fund actively managed by PIMCO, while DBO is a Oil & Gas fund tracking the DBIQ Optimum Yield Crude Oil Index Excess Return. EMNT is actively managed, while DBO is passively managed. Over the past 5 years, EMNT returned 3.43%/yr vs 15.98%/yr for DBO. At a correlation of -0.06, they often move in opposite directions. EMNT charges 0.24%/yr vs 0.78%/yr for DBO.
Performance
EMNT vs. DBO - Performance Comparison
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Returns By Period
In the year-to-date period, EMNT achieves a 1.64% return, which is significantly lower than DBO's 84.75% return.
EMNT
- 1D
- -0.02%
- 1M
- 0.39%
- YTD
- 1.64%
- 6M
- 1.97%
- 1Y
- 4.38%
- 3Y*
- 5.24%
- 5Y*
- 3.43%
- 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%
EMNT vs. DBO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EMNT PIMCO Enhanced Short Maturity Active ESG ETF | 1.64% | 4.74% | 5.79% | 5.84% | -0.57% | 0.11% | 2.08% | 0.09% |
DBO Invesco DB Oil Fund | 84.75% | -11.71% | 7.85% | -4.44% | 13.04% | 60.74% | -20.99% | 3.39% |
Correlation
The correlation between EMNT and DBO is -0.36, 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 | -0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.06 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2019 | -0.06 |
Over the past year, the inverse relationship between EMNT and DBO has strengthened: their correlation has moved from -0.06 to -0.36, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
EMNT vs. DBO — Risk / Return Rank
EMNT
DBO
EMNT vs. DBO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Enhanced Short Maturity Active ESG ETF (EMNT) 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.
| EMNT | DBO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 10.63 | 2.34 | +8.29 |
Sortino ratioReturn per unit of downside risk | 21.17 | 2.94 | +18.23 |
Omega ratioGain probability vs. loss probability | 5.63 | 1.38 | +4.26 |
Calmar ratioReturn relative to maximum drawdown | 33.45 | 4.44 | +29.02 |
Martin ratioReturn relative to average drawdown | 235.99 | 9.02 | +226.97 |
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
| EMNT | DBO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 10.63 | 2.34 | +8.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 4.18 | 0.50 | +3.68 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.36 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 3.51 | 0.02 | +3.49 |
Drawdowns
EMNT vs. DBO - Drawdown Comparison
The maximum EMNT drawdown since its inception was -2.28%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for EMNT and DBO.
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Drawdown Indicators
| EMNT | DBO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.28% | -90.18% | +87.90% |
Max Drawdown (1Y)Largest decline over 1 year | -0.13% | -18.19% | +18.06% |
Max Drawdown (3Y)Largest decline over 3 years | -0.73% | -28.20% | +27.47% |
Max Drawdown (5Y)Largest decline over 5 years | -1.70% | -37.68% | +35.98% |
Max Drawdown (10Y)Largest decline over 10 years | — | -61.69% | — |
Current DrawdownCurrent decline from peak | -0.02% | -51.38% | +51.36% |
Average DrawdownAverage peak-to-trough decline | -0.23% | -62.25% | +62.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 8.92% | -8.90% |
Volatility
EMNT vs. DBO - Volatility Comparison
The current volatility for PIMCO Enhanced Short Maturity Active ESG ETF (EMNT) is 0.14%, while Invesco DB Oil Fund (DBO) has a volatility of 12.61%. This indicates that EMNT 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.
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Volatility by Period
| EMNT | DBO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.14% | 12.61% | -12.47% |
Volatility (6M)Calculated over the trailing 6-month period | 0.34% | 28.20% | -27.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.41% | 34.46% | -34.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.83% | 32.29% | -31.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.86% | 31.78% | -30.92% |
EMNT vs. DBO - Expense Ratio Comparison
EMNT has a 0.24% expense ratio, which is lower than DBO's 0.78% expense ratio.
Dividends
EMNT vs. DBO - Dividend Comparison
EMNT's dividend yield for the trailing twelve months is around 4.00%, more than DBO's 1.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBO Invesco DB Oil Fund | 1.90% | 3.51% | 4.68% | 4.59% | 0.66% | 0.00% | 0.00% | 1.63% | 1.58% |
EMNT PIMCO Enhanced Short Maturity Active ESG ETF | 4.00% | 4.46% | 5.14% | 4.62% | 2.79% | 0.66% | 1.44% | 0.00% | 0.00% |
Frequently Asked Questions
EMNT and DBO have a correlation of -0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBO has higher volatility (12.61%) compared to EMNT (0.14%). In terms of maximum drawdown, EMNT dropped -2.28% vs DBO's -90.18%.
On 5-year performance, DBO leads with 15.98% vs 3.43% for EMNT. On fees, EMNT is cheaper at 0.24% per year. On volatility, EMNT has been the lower-risk option at 0.14%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DBO has performed better with a 15.98% return vs 3.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EMNT is cheaper with a 0.24% expense ratio, compared with 0.78% for DBO.
EMNT has the higher dividend yield at 4.00%, compared with 1.90% for DBO.
EMNT is categorized as Ultrashort Bond, while DBO is Oil & Gas. They also come from different issuers: PIMCO and Invesco. Their fees differ too: 0.24% for EMNT and 0.78% for DBO.
EMNT currently has the higher Sharpe Ratio (10.63 vs 2.34), 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.
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