IOYY vs. DBO

Last updated Jun 5, 2026

IOYY (GraniteShares YieldBOOST IONQ ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - IOYY is a Derivative Income fund actively managed by GraniteShares, while DBO is a Oil & Gas fund tracking the DBIQ Optimum Yield Crude Oil Index Excess Return. IOYY is actively managed, while DBO is passively managed. At a correlation of -0.08, they often move in opposite directions. IOYY charges 1.07%/yr vs 0.78%/yr for DBO.

Performance

IOYY vs. DBO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GraniteShares YieldBOOST IONQ ETF (IOYY) and Invesco DB Oil Fund (DBO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IOYY achieves a -11.92% return, which is significantly lower than DBO's 79.84% return.

IOYY

• 1D: -0.97%
• 1M: 6.59%
• YTD: -11.92%
• 6M: -23.78%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DBO

• 1D: -2.66%
• 1M: -3.39%
• YTD: 79.84%
• 6M: 74.51%
• 1Y: 77.38%
• 3Y*: 20.83%
• 5Y*: 15.36%
• 10Y*: 10.89%

*Multi-year figures are annualized to reflect compound growth (CAGR)

IOYY vs. DBO - Yearly Performance Comparison

	2026 (YTD)	2025
IOYY GraniteShares YieldBOOST IONQ ETF	-11.92%	-11.64%
DBO Invesco DB Oil Fund	79.84%	-3.70%

Correlation

The correlation between IOYY and DBO is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 5, 2025	-0.08

Return for Risk

IOYY vs. DBO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DBO

DBO Risk / Return Rank: 65
DBO Sharpe Ratio Rank: 70
DBO Sortino Ratio Rank: 62
DBO Omega Ratio Rank: 61
DBO Calmar Ratio Rank: 82
DBO Martin Ratio Rank: 52

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IOYY vs. DBO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GraniteShares YieldBOOST IONQ ETF (IOYY) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	IOYY	DBO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.25	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.48	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.34	—
Sharpe Ratio (All Time) Calculated using the full available price history	-1.03	0.02	-1.05

Drawdowns

IOYY vs. DBO - Drawdown Comparison

The maximum IOYY drawdown since its inception was -38.47%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for IOYY and DBO.

Drawdown Indicators

	IOYY	DBO	Difference
Max Drawdown Largest peak-to-trough decline	-38.47%	-90.18%	+51.71%
Max Drawdown (1Y) Largest decline over 1 year	—	-18.19%	—
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 Drawdown Current decline from peak	-28.57%	-52.68%	+24.11%
Average Drawdown Average peak-to-trough decline	-23.12%	-62.25%	+39.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	8.94%	—

Volatility

Volatility by Period

	IOYY	DBO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	12.79%	—
Volatility (6M) Calculated over the trailing 6-month period	—	28.32%	—
Volatility (1Y) Calculated over the trailing 1-year period	34.32%	34.58%	-0.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.32%	32.31%	+2.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.32%	31.79%	+2.53%

IOYY vs. DBO - Expense Ratio Comparison

IOYY has a 1.07% expense ratio, which is higher than DBO's 0.78% expense ratio.

Dividends

IOYY vs. DBO - Dividend Comparison

IOYY's dividend yield for the trailing twelve months is around 122.28%, more than DBO's 1.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DBO Invesco DB Oil Fund	1.95%	3.51%	4.68%	4.59%	0.66%	0.00%	0.00%	1.63%	1.58%
IOYY GraniteShares YieldBOOST IONQ ETF	122.28%	28.55%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IOYY and DBO in my portfolio?

IOYY and DBO have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, IOYY or DBO?

On fees, DBO is cheaper at 0.78% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, IOYY or DBO?

DBO is cheaper with a 0.78% expense ratio, compared with 1.07% for IOYY.

Which ETF pays a higher dividend yield, IOYY or DBO?

IOYY has the higher dividend yield at 122.28%, compared with 1.95% for DBO.

What is the main difference between IOYY and DBO?

IOYY is categorized as Derivative Income, while DBO is Oil & Gas. They also come from different issuers: GraniteShares and Invesco. Their fees differ too: 1.07% for IOYY and 0.78% for DBO.