MAMB vs. DBO
MAMB (Monarch Ambassador Income ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - MAMB is a Intermediate Core-Plus Bond fund tracking the Monarch Ambassador Income 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, MAMB returned 0.16%/yr vs 13.46%/yr for DBO. Their -0.06 correlation means they have often moved in opposite directions in the past. MAMB charges 1.49%/yr vs 0.78%/yr for DBO.
Performance
MAMB vs. DBO - Performance Comparison
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Returns By Period
In the year-to-date period, MAMB achieves a -0.37% return, which is significantly lower than DBO's 76.48% return.
MAMB
- 1D
- -0.45%
- 1M
- -1.94%
- 6M
- -1.83%
- YTD
- -0.37%
- 1Y
- 4.18%
- 3Y*
- 5.01%
- 5Y*
- 0.16%
- 10Y*
- —
- ALL TIME*
- 0.58%
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 | |
| $478.75K | $740.46K | $535.13K |
MAMB vs. DBO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MAMB Monarch Ambassador Income ETF | -0.37% | 10.69% | 1.32% | 4.90% | -13.02% | 1.17% |
DBO Invesco DB Oil Fund | 76.48% | -11.71% | 7.85% | -4.44% | 13.04% | 31.43% |
Correlation
The correlation between MAMB and DBO is -0.33, 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. | -0.33 |
Correlation (3Y) Balances recent behavior with more history. | -0.17 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.07 |
Correlation (All Time) Calculated using the full available price history since Mar 24, 2021 | -0.06 |
Over the past year, the inverse relationship between MAMB and DBO has strengthened: their correlation has moved from -0.06 to -0.33, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
MAMB vs. DBO — Risk / Return Rank
MAMB
DBO
MAMB vs. DBO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Monarch Ambassador Income ETF (MAMB) 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.
| MAMB | DBO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.55 | ||
| Sortino ratioReturn per unit of downside risk | -0.80 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.25 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.29 | 2.01 | -0.71 |
| Martin ratioReturn relative to average drawdown | 3.13 | 6.09 | -2.96 |
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Drawdowns
MAMB vs. DBO - Drawdown Comparison
The maximum MAMB drawdown since its inception was -19.33%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for MAMB and DBO.
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Drawdown Indicators
| MAMB | DBO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.33% | -90.18% | +70.85% |
Max Drawdown (1Y)Largest decline over 1 year | -3.94% | -27.73% | +23.79% |
Max Drawdown (3Y)Largest decline over 3 years | -5.71% | -28.20% | +22.49% |
Max Drawdown (5Y)Largest decline over 5 years | -19.33% | -37.68% | +18.35% |
Max Drawdown (10Y)Largest decline over 10 years | — | -61.69% | — |
Current DrawdownCurrent decline from peak | -3.94% | -53.56% | +49.62% |
Average DrawdownAverage peak-to-trough decline | -7.35% | -62.20% | +54.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.63% | 9.96% | -8.33% |
Volatility
MAMB vs. DBO - Volatility Comparison
The current volatility for Monarch Ambassador Income ETF (MAMB) is 1.53%, while Invesco DB Oil Fund (DBO) has a volatility of 17.75%. This indicates that MAMB 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
| MAMB | DBO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.53% | 17.75% | -16.22% |
Volatility (6M)Calculated over the trailing 6-month period | 4.48% | 33.77% | -29.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.70% | 38.53% | -32.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.05% | 33.35% | -26.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.87% | 32.20% | -25.33% |
MAMB vs. DBO - Expense Ratio Comparison
MAMB has a 1.49% expense ratio, which is higher than DBO's 0.78% expense ratio.
Dividends
MAMB vs. DBO - Dividend Comparison
MAMB's dividend yield for the trailing twelve months is around 2.71%, more than DBO's 1.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBO Invesco DB Oil Fund | 1.99% | 3.51% | 4.68% | 4.59% | 0.66% | 0.00% | 0.00% | 1.63% | 1.58% |
MAMB Monarch Ambassador Income ETF | 2.71% | 2.47% | 2.11% | 1.73% | 0.92% | 0.56% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MAMB and DBO have a correlation of -0.33, 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 MAMB (1.53%). In terms of maximum drawdown, MAMB dropped -19.33% vs DBO's -90.18%.
On 5-year performance, DBO leads with 13.46% vs 0.16% for MAMB. On fees, DBO is cheaper at 0.78% per year. On volatility, MAMB has been the lower-risk option at 1.53%. 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 13.46% return vs 0.16%. 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 1.49% for MAMB.
MAMB has the higher dividend yield at 2.71%, compared with 1.99% for DBO.
MAMB is categorized as Intermediate Core-Plus Bond, while DBO is Oil & Gas. MAMB tracks Monarch Ambassador Income Index, while DBO tracks DBIQ Optimum Yield Crude Oil Index Excess Return. They also come from different issuers: Monarch and Invesco. Their fees differ too: 1.49% for MAMB and 0.78% for DBO.
DBO currently has the higher Sharpe Ratio (1.45 vs 0.89), 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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