LCTD vs. DBO
LCTD (BlackRock World ex U.S. Carbon Transition Readiness ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - LCTD is a Alternative Energy Equities fund actively managed by BlackRock, while DBO is a Oil & Gas fund tracking the DBIQ Optimum Yield Crude Oil Index Excess Return. LCTD is actively managed, while DBO is passively managed. Over the past 5 years, LCTD returned 7.61%/yr vs 13.64%/yr for DBO. Their 0.09 correlation means their historical movements had little consistent relationship. LCTD charges 0.20%/yr vs 0.78%/yr for DBO.
Performance
LCTD vs. DBO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, LCTD achieves a 9.67% return, which is significantly lower than DBO's 66.72% return.
LCTD
- 1D
- 0.40%
- 1M
- 1.73%
- 6M
- 4.47%
- YTD
- 9.67%
- 1Y
- 22.85%
- 3Y*
- 15.76%
- 5Y*
- 7.61%
- 10Y*
- —
- ALL TIME*
- 8.10%
DBO
- 1D
- -5.53%
- 1M
- 17.71%
- 6M
- 53.16%
- YTD
- 66.72%
- 1Y
- 51.44%
- 3Y*
- 12.33%
- 5Y*
- 13.64%
- 10Y*
- 11.43%
- ALL TIME*
- 0.22%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $11.34M | $10.71M | $13.49M | |
| $320.78K | $394.26K | $1.78M |
LCTD vs. DBO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF | 9.67% | 30.42% | 3.14% | 17.10% | -16.16% | 4.48% |
DBO Invesco DB Oil Fund | 66.72% | -11.71% | 7.85% | -4.44% | 13.04% | 26.40% |
Correlation
The correlation between LCTD and DBO is -0.30, 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. | -0.30 |
Correlation (3Y) Balances recent behavior with more history. | -0.09 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.09 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2021 | 0.09 |
The correlation between LCTD and DBO shifts across timeframes, from -0.30 (1 year) to 0.09 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
LCTD vs. DBO — Risk / Return Rank
LCTD
DBO
LCTD vs. DBO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock World ex U.S. Carbon Transition Readiness ETF (LCTD) 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.
| LCTD | DBO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.19 | ||
| Sortino ratioReturn per unit of downside risk | +0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.23 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.10 | 1.86 | +0.24 |
| Martin ratioReturn relative to average drawdown | 7.32 | 5.64 | +1.68 |
Loading charts...
Drawdowns
LCTD vs. DBO - Drawdown Comparison
The maximum LCTD drawdown since its inception was -29.82%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for LCTD and DBO.
Loading charts...
Drawdown Indicators
| LCTD | DBO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.82% | -90.18% | +60.36% |
Max Drawdown (1Y)Largest decline over 1 year | -10.92% | -27.73% | +16.81% |
Max Drawdown (3Y)Largest decline over 3 years | -13.59% | -28.20% | +14.61% |
Max Drawdown (5Y)Largest decline over 5 years | -29.82% | -37.68% | +7.86% |
Max Drawdown (10Y)Largest decline over 10 years | — | -61.69% | — |
Current DrawdownCurrent decline from peak | -0.43% | -56.13% | +55.70% |
Average DrawdownAverage peak-to-trough decline | -6.65% | -62.20% | +55.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.13% | 9.16% | -6.03% |
Volatility
LCTD vs. DBO - Volatility Comparison
The current volatility for BlackRock World ex U.S. Carbon Transition Readiness ETF (LCTD) is 4.25%, while Invesco DB Oil Fund (DBO) has a volatility of 18.99%. This indicates that LCTD 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.
Loading charts...
Volatility by Period
| LCTD | DBO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.25% | 18.99% | -14.74% |
Volatility (6M)Calculated over the trailing 6-month period | 12.84% | 34.30% | -21.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.12% | 38.86% | -23.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.22% | 33.43% | -17.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.04% | 32.24% | -16.20% |
LCTD vs. DBO - Expense Ratio Comparison
LCTD has a 0.20% expense ratio, which is lower than DBO's 0.78% expense ratio.
Dividends
LCTD vs. DBO - Dividend Comparison
LCTD's dividend yield for the trailing twelve months is around 3.31%, more than DBO's 2.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBO Invesco DB Oil Fund | 2.11% | 3.51% | 4.68% | 4.59% | 0.66% | 0.00% | 0.00% | 1.63% | 1.58% |
LCTD BlackRock World ex U.S. Carbon Transition Readiness ETF | 3.31% | 3.61% | 3.74% | 3.16% | 3.52% | 2.20% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
LCTD and DBO have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBO has higher volatility (18.99%) compared to LCTD (4.25%). In terms of maximum drawdown, LCTD dropped -29.82% vs DBO's -90.18%.
On 5-year performance, DBO leads with 13.64% vs 7.61% for LCTD. On fees, LCTD is cheaper at 0.20% per year. On volatility, LCTD has been the lower-risk option at 4.25%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DBO has performed better with a 13.64% return vs 7.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LCTD is cheaper with a 0.20% expense ratio, compared with 0.78% for DBO.
LCTD has the higher dividend yield at 3.31%, compared with 2.11% for DBO.
LCTD is categorized as Alternative Energy Equities, while DBO is Oil & Gas. They also come from different issuers: BlackRock and Invesco. Their fees differ too: 0.20% for LCTD and 0.78% for DBO.
LCTD currently has the higher Sharpe Ratio (1.52 vs 1.33), 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.
Find the right allocation for LCTD and DBO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer