IOPP vs. DBO
IOPP (Simplify Tara India Opportunities ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - IOPP is a India Equities fund actively managed by Simplify, while DBO is a Oil & Gas fund tracking the DBIQ Optimum Yield Crude Oil Index Excess Return. IOPP is actively managed, while DBO is passively managed. Over the past year, IOPP returned -0.44% vs 60.30% for DBO. Their -0.14 correlation means they have often moved in opposite directions in the past. IOPP charges 0.73%/yr vs 0.78%/yr for DBO.
Performance
IOPP vs. DBO - Performance Comparison
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Returns By Period
In the year-to-date period, IOPP achieves a -1.52% return, which is significantly lower than DBO's 76.48% return.
IOPP
- 1D
- 0.24%
- 1M
- 2.09%
- 6M
- 3.42%
- YTD
- -1.52%
- 1Y
- -0.44%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.86%
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 | |
| $120.79K | $149.59K | $72.78K |
IOPP vs. DBO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IOPP Simplify Tara India Opportunities ETF | -1.52% | 1.86% | 14.31% |
DBO Invesco DB Oil Fund | 76.48% | -11.71% | 1.78% |
Correlation
The correlation between IOPP 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 (All Time) Calculated using the full available price history since Mar 5, 2024 | -0.14 |
Over the past year, the inverse relationship between IOPP and DBO has strengthened: their correlation has moved from -0.14 to -0.35, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
IOPP vs. DBO — Risk / Return Rank
IOPP
DBO
IOPP vs. DBO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Tara India Opportunities ETF (IOPP) 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.
| IOPP | DBO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.48 | ||
| Sortino ratioReturn per unit of downside risk | -1.97 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.25 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | -0.03 | 2.01 | -2.03 |
| Martin ratioReturn relative to average drawdown | -0.07 | 6.09 | -6.16 |
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Drawdowns
IOPP vs. DBO - Drawdown Comparison
The maximum IOPP drawdown since its inception was -23.67%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for IOPP and DBO.
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Drawdown Indicators
| IOPP | DBO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.67% | -90.18% | +66.51% |
Max Drawdown (1Y)Largest decline over 1 year | -19.42% | -27.73% | +8.31% |
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 DrawdownCurrent decline from peak | -10.05% | -53.56% | +43.51% |
Average DrawdownAverage peak-to-trough decline | -9.10% | -62.20% | +53.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.89% | 9.96% | -2.07% |
Volatility
IOPP vs. DBO - Volatility Comparison
The current volatility for Simplify Tara India Opportunities ETF (IOPP) is 3.88%, while Invesco DB Oil Fund (DBO) has a volatility of 17.75%. This indicates that IOPP 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
| IOPP | DBO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.88% | 17.75% | -13.87% |
Volatility (6M)Calculated over the trailing 6-month period | 14.60% | 33.77% | -19.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.31% | 38.53% | -21.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.65% | 33.35% | -16.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.65% | 32.20% | -15.55% |
IOPP vs. DBO - Expense Ratio Comparison
IOPP has a 0.73% expense ratio, which is lower than DBO's 0.78% expense ratio.
Dividends
IOPP vs. DBO - Dividend Comparison
IOPP's dividend yield for the trailing twelve months is around 0.37%, less than DBO's 1.99% yield.
| 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% |
IOPP Simplify Tara India Opportunities ETF | 0.37% | 0.29% | 6.96% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IOPP 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 IOPP (3.88%). In terms of maximum drawdown, IOPP dropped -23.67% vs DBO's -90.18%.
On 1-year performance, DBO leads with 60.30% vs -0.44% for IOPP. On fees, IOPP is cheaper at 0.73% per year. On volatility, IOPP has been the lower-risk option at 3.88%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DBO has performed better with a 60.30% return vs -0.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IOPP is cheaper with a 0.73% expense ratio, compared with 0.78% for DBO.
DBO has the higher dividend yield at 1.99%, compared with 0.37% for IOPP.
IOPP is categorized as India Equities, while DBO is Oil & Gas. They also come from different issuers: Simplify and Invesco. Their fees differ too: 0.73% for IOPP and 0.78% for DBO.
DBO currently has the higher Sharpe Ratio (1.45 vs -0.03), 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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