LTCN vs. DBO
LTCN (Grayscale Litecoin Trust) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - LTCN is a Cryptocurrency fund tracking the CoinDesk Litecoin Price 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 5 years, LTCN returned -59.05%/yr vs 15.98%/yr for DBO. At a 0.06 correlation, their price movements are largely independent. LTCN charges 2.50%/yr vs 0.78%/yr for DBO.
Performance
LTCN vs. DBO - Performance Comparison
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Returns By Period
In the year-to-date period, LTCN achieves a -42.39% return, which is significantly lower than DBO's 84.75% return.
LTCN
- 1D
- -1.54%
- 1M
- -18.21%
- YTD
- -42.39%
- 6M
- -51.98%
- 1Y
- -51.98%
- 3Y*
- -8.44%
- 5Y*
- -59.05%
- 10Y*
- —
DBO
- 1D
- 2.27%
- 1M
- -2.34%
- YTD
- 84.75%
- 6M
- 81.10%
- 1Y
- 80.26%
- 3Y*
- 21.86%
- 5Y*
- 15.98%
- 10Y*
- 11.37%
LTCN vs. DBO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
LTCN Grayscale Litecoin Trust | -42.39% | -54.37% | -18.79% | 650.00% | -77.17% | -96.84% | 1,165.22% |
DBO Invesco DB Oil Fund | 84.75% | -11.71% | 7.85% | -4.44% | 13.04% | 60.74% | 9.20% |
Correlation
The correlation between LTCN and DBO is -0.10, 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 | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Aug 19, 2020 | 0.06 |
The correlation between LTCN and DBO shifts across timeframes, from -0.10 (1 year) to 0.06 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
LTCN vs. DBO — Risk / Return Rank
LTCN
DBO
LTCN vs. DBO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Litecoin Trust (LTCN) 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.
| LTCN | DBO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.09 | ||
| Sortino ratioReturn per unit of downside risk | -3.95 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 1.38 | -0.49 |
| Calmar ratioReturn relative to maximum drawdown | -0.75 | 4.44 | -5.19 |
| Martin ratioReturn relative to average drawdown | -1.21 | 9.02 | -10.24 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| LTCN | DBO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.75 | 2.34 | -3.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.56 | 0.50 | -1.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.36 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.20 | 0.02 | -0.22 |
Drawdowns
LTCN vs. DBO - Drawdown Comparison
The maximum LTCN drawdown since its inception was -99.58%, which is greater than DBO's maximum drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for LTCN and DBO.
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Drawdown Indicators
| LTCN | DBO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.58% | -90.18% | -9.40% |
Max Drawdown (1Y)Largest decline over 1 year | -69.43% | -18.19% | -51.24% |
Max Drawdown (3Y)Largest decline over 3 years | -92.85% | -28.20% | -64.65% |
Max Drawdown (5Y)Largest decline over 5 years | -99.28% | -37.68% | -61.60% |
Max Drawdown (10Y)Largest decline over 10 years | — | -61.69% | — |
Current DrawdownCurrent decline from peak | -99.33% | -51.38% | -47.95% |
Average DrawdownAverage peak-to-trough decline | -89.61% | -62.25% | -27.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 42.95% | 8.92% | +34.03% |
Volatility
LTCN vs. DBO - Volatility Comparison
Grayscale Litecoin Trust (LTCN) and Invesco DB Oil Fund (DBO) have volatilities of 12.48% and 12.61%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LTCN | DBO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.48% | 12.61% | -0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 41.84% | 28.20% | +13.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 69.70% | 34.46% | +35.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 106.73% | 32.29% | +74.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 141.42% | 31.78% | +109.64% |
LTCN vs. DBO - Expense Ratio Comparison
LTCN has a 2.50% expense ratio, which is higher than DBO's 0.78% expense ratio.
Dividends
LTCN vs. DBO - Dividend Comparison
LTCN has not paid dividends to shareholders, while DBO's dividend yield for the trailing twelve months is around 1.90%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBO Invesco DB Oil Fund | 1.90% | 3.51% | 4.68% | 4.59% | 0.66% | 0.00% | 0.00% | 1.63% | 1.58% |
LTCN Grayscale Litecoin Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
LTCN and DBO have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBO has higher volatility (12.61%) compared to LTCN (12.48%). In terms of maximum drawdown, LTCN dropped -99.58% vs DBO's -90.18%.
On 5-year performance, DBO leads with 15.98% vs -59.05% for LTCN. On fees, DBO is cheaper at 0.78% per year. On volatility, LTCN has been the lower-risk option at 12.48%. 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 15.98% return vs -59.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DBO is cheaper with a 0.78% expense ratio, compared with 2.50% for LTCN.
DBO has the higher dividend yield at 1.90%, compared with 0.00% for LTCN.
LTCN is categorized as Cryptocurrency, while DBO is Oil & Gas. LTCN tracks CoinDesk Litecoin Price Index, while DBO tracks DBIQ Optimum Yield Crude Oil Index Excess Return. They also come from different issuers: Grayscale and Invesco. Their fees differ too: 2.50% for LTCN and 0.78% for DBO.
DBO currently has the higher Sharpe Ratio (2.34 vs -0.75), 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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