LDRX vs. DBO

Last updated Jun 14, 2026

LDRX (SGI Enhanced Market Leaders ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - LDRX is a Derivative Income fund actively managed by Summit Global Investments, while DBO is a Oil & Gas fund tracking the DBIQ Optimum Yield Crude Oil Index Excess Return. LDRX is actively managed, while DBO is passively managed. Over the past year, LDRX returned 24.84% vs 47.97% for DBO. At a correlation of -0.24, they often move in opposite directions. LDRX charges 0.59%/yr vs 0.78%/yr for DBO.

Performance

LDRX vs. DBO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SGI Enhanced Market Leaders ETF (LDRX) 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, LDRX achieves a 6.83% return, which is significantly lower than DBO's 67.70% return.

LDRX

• 1D: 0.12%
• 1M: -1.49%
• YTD: 6.83%
• 6M: 7.43%
• 1Y: 24.84%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DBO

• 1D: -2.90%
• 1M: -11.54%
• YTD: 67.70%
• 6M: 68.30%
• 1Y: 47.97%
• 3Y*: 18.98%
• 5Y*: 13.41%
• 10Y*: 10.33%

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

LDRX vs. DBO - Yearly Performance Comparison

	2026 (YTD)	2025
LDRX SGI Enhanced Market Leaders ETF	6.83%	23.63%
DBO Invesco DB Oil Fund	67.70%	3.90%

Correlation

The correlation between LDRX and DBO is -0.26, 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	-0.26
Correlation (All Time) Calculated using the full available price history since May 5, 2025	-0.24

Return for Risk

LDRX vs. DBO — Risk / Return Rank

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

LDRX

LDRX Risk / Return Rank: 59
LDRX Sharpe Ratio Rank: 62
LDRX Sortino Ratio Rank: 61
LDRX Omega Ratio Rank: 61
LDRX Calmar Ratio Rank: 51
LDRX Martin Ratio Rank: 59

DBO

DBO Risk / Return Rank: 53
DBO Sharpe Ratio Rank: 54
DBO Sortino Ratio Rank: 51
DBO Omega Ratio Rank: 49
DBO Calmar Ratio Rank: 70
DBO Martin Ratio Rank: 43

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.

LDRX vs. DBO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SGI Enhanced Market Leaders ETF (LDRX) 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.

	LDRX	DBO	Difference
Sharpe ratio: Return per unit of total volatility	1.85	1.61	+0.25
Sortino ratio: Return per unit of downside risk	2.58	2.20	+0.38
Omega ratio: Gain probability vs. loss probability	1.33	1.27	+0.06
Calmar ratio: Return relative to maximum drawdown	2.29	3.08	-0.80
Martin ratio: Return relative to average drawdown	9.46	6.16	+3.30

LDRX vs. DBO - Sharpe Ratio Comparison

The current LDRX Sharpe Ratio is 1.85, which is comparable to the DBO Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of LDRX 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.

Drawdowns

LDRX vs. DBO - Drawdown Comparison

The maximum LDRX drawdown since its inception was -10.62%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for LDRX and DBO.

Drawdown Indicators

	LDRX	DBO	Difference
Max Drawdown Largest peak-to-trough decline	-10.62%	-90.18%	+79.56%
Max Drawdown (1Y) Largest decline over 1 year	-10.62%	-18.19%	+7.57%
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	-3.70%	-55.87%	+52.17%
Average Drawdown Average peak-to-trough decline	-1.48%	-62.22%	+60.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.56%	9.08%	-6.52%

Volatility

LDRX vs. DBO - Volatility Comparison

The current volatility for SGI Enhanced Market Leaders ETF (LDRX) is 4.51%, while Invesco DB Oil Fund (DBO) has a volatility of 11.28%. This indicates that LDRX 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

	LDRX	DBO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.51%	11.28%	-6.77%
Volatility (6M) Calculated over the trailing 6-month period	10.32%	29.06%	-18.74%
Volatility (1Y) Calculated over the trailing 1-year period	13.14%	34.93%	-21.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.18%	32.43%	-19.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.18%	31.83%	-18.65%

LDRX vs. DBO - Expense Ratio Comparison

LDRX has a 0.59% expense ratio, which is lower than DBO's 0.78% expense ratio.

Dividends

LDRX vs. DBO - Dividend Comparison

LDRX's dividend yield for the trailing twelve months is around 1.23%, less than DBO's 2.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DBO Invesco DB Oil Fund	2.09%	3.51%	4.68%	4.59%	0.66%	0.00%	0.00%	1.63%	1.58%
LDRX SGI Enhanced Market Leaders ETF	1.23%	1.19%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LDRX and DBO in my portfolio?

LDRX and DBO have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LDRX or DBO?

DBO has higher volatility (11.28%) compared to LDRX (4.51%). In terms of maximum drawdown, LDRX dropped -10.62% vs DBO's -90.18%.

Which ETF is better, LDRX or DBO?

On 1-year performance, DBO leads with 47.97% vs 24.84% for LDRX. On fees, LDRX is cheaper at 0.59% per year. On volatility, LDRX has been the lower-risk option at 4.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LDRX or DBO?

Over the 1-year period, DBO has performed better with a 47.97% return vs 24.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LDRX or DBO?

LDRX is cheaper with a 0.59% expense ratio, compared with 0.78% for DBO.

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

DBO has the higher dividend yield at 2.09%, compared with 1.23% for LDRX.

What is the main difference between LDRX and DBO?

LDRX is categorized as Derivative Income, while DBO is Oil & Gas. They also come from different issuers: Summit Global Investments and Invesco. Their fees differ too: 0.59% for LDRX and 0.78% for DBO.

Which has better risk-adjusted returns?

LDRX currently has the higher Sharpe Ratio (1.85 vs 1.61), 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.