FXD vs. DBO
FXD (First Trust Consumer Discretionary AlphaDEX Fund) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - FXD is a Consumer Discretionary Equities fund tracking the StrataQuant Consumer Discretionary 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, FXD returned 8.95%/yr vs 9.19%/yr for DBO. At a 0.23 correlation, their price movements are largely independent. FXD charges 0.63%/yr vs 0.78%/yr for DBO.
Performance
FXD vs. DBO - Performance Comparison
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Returns By Period
In the year-to-date period, FXD achieves a 1.87% return, which is significantly lower than DBO's 48.11% return. Both investments have delivered pretty close results over the past 10 years, with FXD having a 8.95% annualized return and DBO not far ahead at 9.19%.
FXD
- 1D
- -0.50%
- 1M
- 4.01%
- YTD
- 1.87%
- 6M
- 0.20%
- 1Y
- 12.71%
- 3Y*
- 10.28%
- 5Y*
- 3.64%
- 10Y*
- 8.95%
DBO
- 1D
- 2.90%
- 1M
- -17.26%
- YTD
- 48.11%
- 6M
- 46.08%
- 1Y
- 41.77%
- 3Y*
- 13.64%
- 5Y*
- 9.72%
- 10Y*
- 9.19%
FXD vs. DBO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FXD First Trust Consumer Discretionary AlphaDEX Fund | 1.87% | 6.70% | 10.57% | 23.39% | -21.56% | 22.72% | 12.97% | 24.22% | -11.60% | 19.77% |
DBO Invesco DB Oil Fund | 48.11% | -11.71% | 7.85% | -4.44% | 13.04% | 60.74% | -20.99% | 28.05% | -15.22% | 4.86% |
Correlation
The correlation between FXD and DBO is -0.28, 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 | -0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since May 10, 2007 | 0.23 |
The correlation between FXD and DBO shifts across timeframes, from -0.28 (1 year) to 0.23 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FXD vs. DBO — Risk / Return Rank
FXD
DBO
FXD vs. DBO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Consumer Discretionary AlphaDEX Fund (FXD) 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.
| FXD | DBO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.57 | ||
| Sortino ratioReturn per unit of downside risk | -0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.22 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.92 | 1.60 | -0.69 |
| Martin ratioReturn relative to average drawdown | 2.27 | 4.78 | -2.51 |
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Drawdowns
FXD vs. DBO - Drawdown Comparison
The maximum FXD drawdown since its inception was -65.27%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for FXD and DBO.
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Drawdown Indicators
| FXD | DBO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.27% | -90.18% | +24.91% |
Max Drawdown (1Y)Largest decline over 1 year | -13.94% | -26.22% | +12.28% |
Max Drawdown (3Y)Largest decline over 3 years | -26.02% | -28.20% | +2.18% |
Max Drawdown (5Y)Largest decline over 5 years | -33.74% | -37.68% | +3.94% |
Max Drawdown (10Y)Largest decline over 10 years | -49.54% | -61.69% | +12.15% |
Current DrawdownCurrent decline from peak | -3.58% | -61.02% | +57.44% |
Average DrawdownAverage peak-to-trough decline | -10.95% | -62.22% | +51.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.61% | 8.77% | -3.16% |
Volatility
FXD vs. DBO - Volatility Comparison
The current volatility for First Trust Consumer Discretionary AlphaDEX Fund (FXD) is 5.96%, while Invesco DB Oil Fund (DBO) has a volatility of 11.32%. This indicates that FXD 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
| FXD | DBO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.96% | 11.32% | -5.36% |
Volatility (6M)Calculated over the trailing 6-month period | 14.95% | 29.75% | -14.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.57% | 34.39% | -14.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.79% | 32.61% | -9.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.70% | 31.84% | -8.14% |
FXD vs. DBO - Expense Ratio Comparison
FXD has a 0.63% expense ratio, which is lower than DBO's 0.78% expense ratio.
Dividends
FXD vs. DBO - Dividend Comparison
FXD's dividend yield for the trailing twelve months is around 0.89%, less than DBO's 2.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBO Invesco DB Oil Fund | 2.37% | 3.51% | 4.68% | 4.59% | 0.66% | 0.00% | 0.00% | 1.63% | 1.58% | 0.00% | 0.00% | 0.00% |
FXD First Trust Consumer Discretionary AlphaDEX Fund | 0.89% | 0.80% | 0.89% | 0.70% | 1.00% | 0.62% | 0.42% | 0.92% | 1.08% | 0.93% | 1.05% | 0.90% |
Frequently Asked Questions
FXD and DBO have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBO has higher volatility (11.32%) compared to FXD (5.96%). In terms of maximum drawdown, FXD dropped -65.27% vs DBO's -90.18%.
On 10-year performance, DBO leads with 9.19% vs 8.95% for FXD. On fees, FXD is cheaper at 0.63% per year. On volatility, FXD has been the lower-risk option at 5.96%. 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 9.19% return vs 8.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FXD is cheaper with a 0.63% expense ratio, compared with 0.78% for DBO.
DBO has the higher dividend yield at 2.37%, compared with 0.89% for FXD.
FXD is categorized as Consumer Discretionary Equities, while DBO is Oil & Gas. FXD tracks StrataQuant Consumer Discretionary Index, while DBO tracks DBIQ Optimum Yield Crude Oil Index Excess Return. They also come from different issuers: First Trust and Invesco. Their fees differ too: 0.63% for FXD and 0.78% for DBO.
DBO currently has the higher Sharpe Ratio (1.22 vs 0.65), 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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