FCOR vs. DBO
FCOR (Fidelity Corporate Bond ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - FCOR is a Corporate Bonds fund actively managed by Fidelity, while DBO is a Oil & Gas fund tracking the DBIQ Optimum Yield Crude Oil Index Excess Return. FCOR is actively managed, while DBO is passively managed. Over the past 10 years, FCOR returned 2.89%/yr vs 11.37%/yr for DBO. At a correlation of -0.08, they often move in opposite directions. FCOR charges 0.36%/yr vs 0.78%/yr for DBO.
Performance
FCOR vs. DBO - Performance Comparison
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Returns By Period
In the year-to-date period, FCOR achieves a 0.48% return, which is significantly lower than DBO's 84.75% return. Over the past 10 years, FCOR has underperformed DBO with an annualized return of 2.89%, while DBO has yielded a comparatively higher 11.37% annualized return.
FCOR
- 1D
- -0.21%
- 1M
- 0.67%
- YTD
- 0.48%
- 6M
- 0.32%
- 1Y
- 6.06%
- 3Y*
- 5.65%
- 5Y*
- 0.70%
- 10Y*
- 2.89%
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%
FCOR vs. DBO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FCOR Fidelity Corporate Bond ETF | 0.48% | 7.88% | 3.01% | 8.95% | -15.88% | -1.64% | 11.39% | 14.87% | -3.04% | 6.13% |
DBO Invesco DB Oil Fund | 84.75% | -11.71% | 7.85% | -4.44% | 13.04% | 60.74% | -20.99% | 28.05% | -15.22% | 4.86% |
Correlation
The correlation between FCOR and DBO is -0.42, 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 | -0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.19 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.14 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.08 |
Correlation (All Time) Calculated using the full available price history since Oct 10, 2014 | -0.08 |
Over the past year, the inverse relationship between FCOR and DBO has strengthened: their correlation has moved from -0.08 to -0.42, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
FCOR vs. DBO — Risk / Return Rank
FCOR
DBO
FCOR vs. DBO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Corporate Bond ETF (FCOR) 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.
| FCOR | DBO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.95 | ||
| Sortino ratioReturn per unit of downside risk | -0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.38 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.99 | 4.44 | -2.45 |
| Martin ratioReturn relative to average drawdown | 6.21 | 9.02 | -2.81 |
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
| FCOR | DBO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.39 | 2.34 | -0.95 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.10 | 0.50 | -0.40 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.41 | 0.36 | +0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 0.02 | +0.40 |
Drawdowns
FCOR vs. DBO - Drawdown Comparison
The maximum FCOR drawdown since its inception was -22.60%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for FCOR and DBO.
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Drawdown Indicators
| FCOR | DBO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.60% | -90.18% | +67.58% |
Max Drawdown (1Y)Largest decline over 1 year | -3.06% | -18.19% | +15.13% |
Max Drawdown (3Y)Largest decline over 3 years | -6.60% | -28.20% | +21.60% |
Max Drawdown (5Y)Largest decline over 5 years | -22.60% | -37.68% | +15.08% |
Max Drawdown (10Y)Largest decline over 10 years | -22.60% | -61.69% | +39.09% |
Current DrawdownCurrent decline from peak | -1.18% | -51.38% | +50.20% |
Average DrawdownAverage peak-to-trough decline | -4.73% | -62.25% | +57.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.98% | 8.92% | -7.94% |
Volatility
FCOR vs. DBO - Volatility Comparison
The current volatility for Fidelity Corporate Bond ETF (FCOR) is 1.61%, while Invesco DB Oil Fund (DBO) has a volatility of 12.61%. This indicates that FCOR 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
| FCOR | DBO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.61% | 12.61% | -11.00% |
Volatility (6M)Calculated over the trailing 6-month period | 3.32% | 28.20% | -24.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.38% | 34.46% | -30.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.06% | 32.29% | -25.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.10% | 31.78% | -24.68% |
FCOR vs. DBO - Expense Ratio Comparison
FCOR has a 0.36% expense ratio, which is lower than DBO's 0.78% expense ratio.
Dividends
FCOR vs. DBO - Dividend Comparison
FCOR's dividend yield for the trailing twelve months is around 4.55%, more than DBO's 1.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBO Invesco DB Oil Fund | 1.90% | 3.51% | 4.68% | 4.59% | 0.66% | 0.00% | 0.00% | 1.63% | 1.58% | 0.00% | 0.00% | 0.00% |
FCOR Fidelity Corporate Bond ETF | 4.55% | 4.47% | 4.35% | 3.70% | 3.30% | 2.34% | 2.99% | 3.10% | 3.65% | 2.81% | 3.04% | 3.82% |
Frequently Asked Questions
FCOR and DBO have a correlation of -0.42, 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 FCOR (1.61%). In terms of maximum drawdown, FCOR dropped -22.60% vs DBO's -90.18%.
On 10-year performance, DBO leads with 11.37% vs 2.89% for FCOR. On fees, FCOR is cheaper at 0.36% per year. On volatility, FCOR has been the lower-risk option at 1.61%. 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 11.37% return vs 2.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FCOR is cheaper with a 0.36% expense ratio, compared with 0.78% for DBO.
FCOR has the higher dividend yield at 4.55%, compared with 1.90% for DBO.
FCOR is categorized as Corporate Bonds, while DBO is Oil & Gas. They also come from different issuers: Fidelity and Invesco. Their fees differ too: 0.36% for FCOR and 0.78% for DBO.
DBO currently has the higher Sharpe Ratio (2.34 vs 1.39), 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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