EPI vs. DBO
EPI (WisdomTree India Earnings Fund) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - EPI is a India Equities fund tracking the WisdomTree India Earnings 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 10 years, EPI returned 8.68%/yr vs 12.59%/yr for DBO. Their 0.23 correlation means their historical movements had little consistent relationship. EPI charges 0.84%/yr vs 0.78%/yr for DBO.
Performance
EPI vs. DBO - Performance Comparison
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Returns By Period
In the year-to-date period, EPI achieves a -7.13% return, which is significantly lower than DBO's 76.48% return. Over the past 10 years, EPI has underperformed DBO with an annualized return of 8.68%, while DBO has yielded a comparatively higher 12.59% annualized return.
EPI
- 1D
- 0.07%
- 1M
- 0.16%
- 6M
- -4.00%
- YTD
- -7.13%
- 1Y
- -3.95%
- 3Y*
- 5.78%
- 5Y*
- 6.02%
- 10Y*
- 8.68%
- ALL TIME*
- 3.91%
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%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $11.01M | $10.23M | $13.95M | |
| $17.75M | $16.45M | $21.29M |
EPI vs. DBO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EPI WisdomTree India Earnings Fund | -7.13% | 2.25% | 10.70% | 26.03% | -4.74% | 26.41% | 18.55% | 1.53% | -9.88% | 39.14% |
DBO Invesco DB Oil Fund | 76.48% | -11.71% | 7.85% | -4.44% | 13.04% | 60.74% | -20.99% | 28.05% | -15.22% | 4.86% |
Correlation
The correlation between EPI and DBO is -0.35, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.35 |
Correlation (3Y) Balances recent behavior with more history. | -0.10 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.02 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.11 |
Correlation (All Time) Calculated using the full available price history since Feb 26, 2008 | 0.23 |
The correlation between EPI and DBO shifts across timeframes, from -0.35 (1 year) to 0.23 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EPI vs. DBO — Risk / Return Rank
EPI
DBO
EPI vs. DBO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree India Earnings Fund (EPI) 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.
| EPI | DBO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.70 | ||
| Sortino ratioReturn per unit of downside risk | -2.32 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.25 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.25 | 2.01 | -2.26 |
| Martin ratioReturn relative to average drawdown | -0.59 | 6.09 | -6.68 |
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Drawdowns
EPI vs. DBO - Drawdown Comparison
The maximum EPI drawdown since its inception was -66.21%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for EPI and DBO.
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Drawdown Indicators
| EPI | DBO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.21% | -90.18% | +23.97% |
Max Drawdown (1Y)Largest decline over 1 year | -15.69% | -27.73% | +12.04% |
Max Drawdown (3Y)Largest decline over 3 years | -21.89% | -28.20% | +6.31% |
Max Drawdown (5Y)Largest decline over 5 years | -21.89% | -37.68% | +15.79% |
Max Drawdown (10Y)Largest decline over 10 years | -50.29% | -61.69% | +11.40% |
Current DrawdownCurrent decline from peak | -15.19% | -53.56% | +38.37% |
Average DrawdownAverage peak-to-trough decline | -18.63% | -62.20% | +43.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.67% | 9.96% | -3.29% |
Volatility
EPI vs. DBO - Volatility Comparison
The current volatility for WisdomTree India Earnings Fund (EPI) is 3.62%, while Invesco DB Oil Fund (DBO) has a volatility of 17.75%. This indicates that EPI 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
| EPI | DBO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.62% | 17.75% | -14.13% |
Volatility (6M)Calculated over the trailing 6-month period | 13.01% | 33.77% | -20.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.28% | 38.53% | -23.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.29% | 33.35% | -17.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.27% | 32.20% | -11.93% |
EPI vs. DBO - Expense Ratio Comparison
EPI has a 0.84% expense ratio, which is higher than DBO's 0.78% expense ratio.
Dividends
EPI vs. DBO - Dividend Comparison
EPI 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 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBO Invesco DB Oil Fund | 1.99% | 3.51% | 4.68% | 4.59% | 0.66% | 0.00% | 0.00% | 1.63% | 1.58% | 0.00% | 0.00% | 0.00% |
EPI WisdomTree India Earnings Fund | 0.00% | 0.00% | 0.27% | 0.15% | 6.01% | 1.18% | 0.78% | 1.17% | 1.18% | 0.85% | 1.05% | 1.20% |
Frequently Asked Questions
EPI and DBO have a correlation of -0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBO has higher volatility (17.75%) compared to EPI (3.62%). In terms of maximum drawdown, EPI dropped -66.21% vs DBO's -90.18%.
On 10-year performance, DBO leads with 12.59% vs 8.68% for EPI. On fees, DBO is cheaper at 0.78% per year. On volatility, EPI has been the lower-risk option at 3.62%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DBO has performed better with a 12.59% return vs 8.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DBO is cheaper with a 0.78% expense ratio, compared with 0.84% for EPI.
DBO has the higher dividend yield at 1.99%, compared with 0.00% for EPI.
EPI is categorized as India Equities, while DBO is Oil & Gas. EPI tracks WisdomTree India Earnings Index, while DBO tracks DBIQ Optimum Yield Crude Oil Index Excess Return. They also come from different issuers: WisdomTree and Invesco. Their fees differ too: 0.84% for EPI and 0.78% for DBO.
DBO currently has the higher Sharpe Ratio (1.45 vs -0.26), 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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