ITB vs. DBO
ITB (iShares U.S. Home Construction ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - ITB is a Building & Construction fund tracking the Dow Jones U.S. Select Home Construction 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, ITB returned 13.43%/yr vs 12.59%/yr for DBO. Their 0.15 correlation means their historical movements had little consistent relationship. ITB charges 0.38%/yr vs 0.78%/yr for DBO.
Performance
ITB vs. DBO - Performance Comparison
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Returns By Period
In the year-to-date period, ITB achieves a -1.69% return, which is significantly lower than DBO's 76.48% return. Over the past 10 years, ITB has outperformed DBO with an annualized return of 13.43%, while DBO has yielded a comparatively lower 12.59% annualized return.
ITB
- 1D
- -1.18%
- 1M
- -8.32%
- 6M
- -7.21%
- YTD
- -1.69%
- 1Y
- -5.06%
- 3Y*
- 2.79%
- 5Y*
- 6.57%
- 10Y*
- 13.43%
- ALL TIME*
- 4.08%
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 | |
| $179.18M | $195.32M | $218.82M |
ITB vs. DBO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ITB iShares U.S. Home Construction ETF | -1.69% | -5.26% | 2.06% | 68.91% | -26.26% | 49.25% | 26.42% | 48.70% | -30.92% | 59.65% |
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 ITB 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. | -0.14 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.02 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.07 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 2007 | 0.15 |
The correlation between ITB and DBO shifts across timeframes, from -0.35 (1 year) to 0.15 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ITB vs. DBO — Risk / Return Rank
ITB
DBO
ITB vs. DBO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Home Construction ETF (ITB) 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.
| ITB | DBO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.53 | ||
| Sortino ratioReturn per unit of downside risk | -1.96 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.25 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | -0.10 | 2.01 | -2.10 |
| Martin ratioReturn relative to average drawdown | -0.17 | 6.09 | -6.27 |
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Drawdowns
ITB vs. DBO - Drawdown Comparison
The maximum ITB drawdown since its inception was -86.53%, roughly equal to the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for ITB and DBO.
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Drawdown Indicators
| ITB | DBO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.53% | -90.18% | +3.65% |
Max Drawdown (1Y)Largest decline over 1 year | -26.04% | -27.73% | +1.69% |
Max Drawdown (3Y)Largest decline over 3 years | -33.35% | -28.20% | -5.15% |
Max Drawdown (5Y)Largest decline over 5 years | -40.55% | -37.68% | -2.87% |
Max Drawdown (10Y)Largest decline over 10 years | -52.10% | -61.69% | +9.59% |
Current DrawdownCurrent decline from peak | -25.47% | -53.56% | +28.09% |
Average DrawdownAverage peak-to-trough decline | -36.98% | -62.20% | +25.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.54% | 9.96% | +4.58% |
Volatility
ITB vs. DBO - Volatility Comparison
The current volatility for iShares U.S. Home Construction ETF (ITB) is 8.79%, while Invesco DB Oil Fund (DBO) has a volatility of 17.75%. This indicates that ITB 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
| ITB | DBO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.79% | 17.75% | -8.96% |
Volatility (6M)Calculated over the trailing 6-month period | 22.03% | 33.77% | -11.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.51% | 38.53% | -9.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.57% | 33.35% | -3.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.20% | 32.20% | -2.00% |
ITB vs. DBO - Expense Ratio Comparison
ITB has a 0.38% expense ratio, which is lower than DBO's 0.78% expense ratio.
Dividends
ITB vs. DBO - Dividend Comparison
ITB's dividend yield for the trailing twelve months is around 0.68%, less than DBO's 1.99% yield.
| 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% |
ITB iShares U.S. Home Construction ETF | 0.68% | 1.67% | 0.46% | 0.48% | 0.86% | 0.37% | 0.46% | 0.50% | 0.63% | 0.28% | 0.43% | 0.34% |
Frequently Asked Questions
ITB 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 ITB (8.79%). In terms of maximum drawdown, ITB dropped -86.53% vs DBO's -90.18%.
On 10-year performance, ITB leads with 13.43% vs 12.59% for DBO. On fees, ITB is cheaper at 0.38% per year. On volatility, ITB has been the lower-risk option at 8.79%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, ITB has performed better with a 13.43% return vs 12.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ITB is cheaper with a 0.38% expense ratio, compared with 0.78% for DBO.
DBO has the higher dividend yield at 1.99%, compared with 0.68% for ITB.
ITB is categorized as Building & Construction, while DBO is Oil & Gas. ITB tracks Dow Jones U.S. Select Home Construction Index, while DBO tracks DBIQ Optimum Yield Crude Oil Index Excess Return. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.38% for ITB and 0.78% for DBO.
DBO currently has the higher Sharpe Ratio (1.45 vs -0.09), 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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