JPRE vs. DBO

Last updated Jun 5, 2026

JPRE (JPMorgan Realty Income ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - JPRE is a REIT fund actively managed by JPMorgan, while DBO is a Oil & Gas fund tracking the DBIQ Optimum Yield Crude Oil Index Excess Return. JPRE is actively managed, while DBO is passively managed. Over the past 3 years, JPRE returned 10.46%/yr vs 20.83%/yr for DBO. At a correlation of -0.01, they often move in opposite directions. JPRE charges 0.50%/yr vs 0.78%/yr for DBO.

Performance

JPRE vs. DBO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Realty Income ETF (JPRE) 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, JPRE achieves a 11.12% return, which is significantly lower than DBO's 79.84% return.

JPRE

• 1D: 1.91%
• 1M: 0.43%
• YTD: 11.12%
• 6M: 10.73%
• 1Y: 10.96%
• 3Y*: 10.46%
• 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)

JPRE vs. DBO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
JPRE JPMorgan Realty Income ETF	11.12%	1.36%	7.43%	13.41%	-9.96%
DBO Invesco DB Oil Fund	79.84%	-11.71%	7.85%	-4.44%	-17.87%

Correlation

The correlation between JPRE and DBO is -0.15, 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	-0.15
Correlation (3Y) Calculated over the trailing 3-year period	-0.08
Correlation (All Time) Calculated using the full available price history since May 24, 2022	-0.01

The correlation between JPRE and DBO shifts across timeframes, from -0.15 (1 year) to -0.01 (all time), reflecting how their relationship changes across market environments.

JPRE vs. DBO - Sectors Allocation Comparison

Sectors	JPRE	DBO
Real Estate	98.1%	-
Basic Materials	0.6%	-
Industrials	0.6%	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	116.0%
Healthcare	-	-
Technology	-	-
Utilities	-	-

Return for Risk

JPRE vs. DBO — Risk / Return Rank

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

JPRE

JPRE Risk / Return Rank: 26
JPRE Sharpe Ratio Rank: 24
JPRE Sortino Ratio Rank: 23
JPRE Omega Ratio Rank: 23
JPRE Calmar Ratio Rank: 30
JPRE Martin Ratio Rank: 28

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.

JPRE vs. DBO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Realty Income ETF (JPRE) 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.

	JPRE	DBO	Difference
Sharpe ratio: Return per unit of total volatility	0.84	2.25	-1.41
Sortino ratio: Return per unit of downside risk	1.19	2.85	-1.65
Omega ratio: Gain probability vs. loss probability	1.15	1.36	-0.21
Calmar ratio: Return relative to maximum drawdown	1.43	4.28	-2.85
Martin ratio: Return relative to average drawdown	3.93	8.69	-4.76
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JPRE vs. DBO - Sharpe Ratio Comparison

The current JPRE Sharpe Ratio is 0.84, which is lower than the DBO Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of JPRE and DBO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	JPRE	DBO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.84	2.25	-1.41
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	0.30	0.02	+0.28

Drawdowns

JPRE vs. DBO - Drawdown Comparison

The maximum JPRE drawdown since its inception was -23.84%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for JPRE and DBO.

Drawdown Indicators

	JPRE	DBO	Difference
Max Drawdown Largest peak-to-trough decline	-23.84%	-90.18%	+66.34%
Max Drawdown (1Y) Largest decline over 1 year	-7.70%	-18.19%	+10.49%
Max Drawdown (3Y) Largest decline over 3 years	-16.27%	-28.20%	+11.93%
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	-1.73%	-52.68%	+50.95%
Average Drawdown Average peak-to-trough decline	-8.16%	-62.25%	+54.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.79%	8.94%	-6.15%

Volatility

JPRE vs. DBO - Volatility Comparison

The current volatility for JPMorgan Realty Income ETF (JPRE) is 4.33%, while Invesco DB Oil Fund (DBO) has a volatility of 12.79%. This indicates that JPRE 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.

Volatility by Period

	JPRE	DBO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.33%	12.79%	-8.46%
Volatility (6M) Calculated over the trailing 6-month period	9.59%	28.32%	-18.73%
Volatility (1Y) Calculated over the trailing 1-year period	13.11%	34.58%	-21.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.29%	32.31%	-14.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.29%	31.79%	-13.50%

JPRE vs. DBO - Expense Ratio Comparison

JPRE has a 0.50% expense ratio, which is lower than DBO's 0.78% expense ratio.

Dividends

JPRE vs. DBO - Dividend Comparison

JPRE's dividend yield for the trailing twelve months is around 2.25%, 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%
JPRE JPMorgan Realty Income ETF	2.25%	2.62%	2.21%	3.26%	10.60%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both JPRE and DBO in my portfolio?

JPRE and DBO have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JPRE or DBO?

DBO has higher volatility (12.79%) compared to JPRE (4.33%). In terms of maximum drawdown, JPRE dropped -23.84% vs DBO's -90.18%.

Which ETF is better, JPRE or DBO?

On 3-year performance, DBO leads with 20.83% vs 10.46% for JPRE. On fees, JPRE is cheaper at 0.50% per year. On volatility, JPRE has been the lower-risk option at 4.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JPRE or DBO?

Over the 3-year period, DBO has performed better with a 20.83% return vs 10.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JPRE or DBO?

JPRE is cheaper with a 0.50% expense ratio, compared with 0.78% for DBO.

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

JPRE has the higher dividend yield at 2.25%, compared with 1.95% for DBO.

What is the main difference between JPRE and DBO?

JPRE is categorized as REIT, while DBO is Oil & Gas. They also come from different issuers: JPMorgan and Invesco. Their fees differ too: 0.50% for JPRE and 0.78% for DBO.

Which has better risk-adjusted returns?

DBO currently has the higher Sharpe Ratio (2.25 vs 0.84), 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.