MIDE vs. DBO

Last updated Jun 5, 2026

MIDE (Xtrackers S&P MidCap 400 ESG ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - MIDE is a Mid Cap Blend Equities fund tracking the S&P MidCap 400 ESG 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, MIDE returned 8.38%/yr vs 15.36%/yr for DBO. At a 0.13 correlation, their price movements are largely independent. MIDE charges 0.15%/yr vs 0.78%/yr for DBO.

Performance

MIDE vs. DBO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers S&P MidCap 400 ESG ETF (MIDE) 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, MIDE achieves a 14.80% return, which is significantly lower than DBO's 79.84% return.

MIDE

• 1D: 0.30%
• 1M: 4.11%
• YTD: 14.80%
• 6M: 14.92%
• 1Y: 28.99%
• 3Y*: 16.92%
• 5Y*: 8.38%
• 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)

MIDE vs. DBO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
MIDE Xtrackers S&P MidCap 400 ESG ETF	14.80%	9.81%	11.21%	15.20%	-11.63%	11.77%
DBO Invesco DB Oil Fund	79.84%	-11.71%	7.85%	-4.44%	13.04%	24.31%

Correlation

The correlation between MIDE and DBO is -0.24, 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	-0.24
Correlation (3Y) Calculated over the trailing 3-year period	-0.00
Correlation (5Y) Calculated over the trailing 5-year period	0.13
Correlation (All Time) Calculated using the full available price history since Feb 25, 2021	0.13

The correlation between MIDE and DBO shifts across timeframes, from -0.24 (1 year) to 0.13 (5 years), reflecting how their relationship changes across market environments.

MIDE vs. DBO - Sectors Allocation Comparison

Sectors	MIDE	DBO
Industrials	23.3%	-
Financial Services	16.8%	116.0%
Technology	13.9%	-
Consumer Cyclical	12.1%	-
Healthcare	9.9%	-
Real Estate	8.8%	-
Energy	5.7%	-
Basic Materials	3.7%	-
Consumer Defensive	3.2%	-
Utilities	1.7%	-
Communication Services	0.9%	-

Return for Risk

MIDE vs. DBO — Risk / Return Rank

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

MIDE

MIDE Risk / Return Rank: 58
MIDE Sharpe Ratio Rank: 55
MIDE Sortino Ratio Rank: 56
MIDE Omega Ratio Rank: 53
MIDE Calmar Ratio Rank: 64
MIDE Martin Ratio Rank: 62

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.

MIDE vs. DBO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers S&P MidCap 400 ESG ETF (MIDE) 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.

	MIDE	DBO	Difference
Sharpe ratio: Return per unit of total volatility	1.84	2.25	-0.41
Sortino ratio: Return per unit of downside risk	2.65	2.85	-0.20
Omega ratio: Gain probability vs. loss probability	1.32	1.36	-0.04
Calmar ratio: Return relative to maximum drawdown	3.11	4.28	-1.17
Martin ratio: Return relative to average drawdown	11.09	8.69	+2.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MIDE vs. DBO - Sharpe Ratio Comparison

The current MIDE Sharpe Ratio is 1.84, which is comparable to the DBO Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of MIDE 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

	MIDE	DBO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.84	2.25	-0.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	0.48	-0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.34	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.02	+0.45

Drawdowns

MIDE vs. DBO - Drawdown Comparison

The maximum MIDE drawdown since its inception was -24.59%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for MIDE and DBO.

Drawdown Indicators

	MIDE	DBO	Difference
Max Drawdown Largest peak-to-trough decline	-24.59%	-90.18%	+65.59%
Max Drawdown (1Y) Largest decline over 1 year	-9.36%	-18.19%	+8.83%
Max Drawdown (3Y) Largest decline over 3 years	-24.59%	-28.20%	+3.61%
Max Drawdown (5Y) Largest decline over 5 years	-24.59%	-37.68%	+13.09%
Max Drawdown (10Y) Largest decline over 10 years	—	-61.69%	—
Current Drawdown Current decline from peak	0.00%	-52.68%	+52.68%
Average Drawdown Average peak-to-trough decline	-6.49%	-62.25%	+55.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.62%	8.94%	-6.32%

Volatility

MIDE vs. DBO - Volatility Comparison

The current volatility for Xtrackers S&P MidCap 400 ESG ETF (MIDE) is 4.40%, while Invesco DB Oil Fund (DBO) has a volatility of 12.79%. This indicates that MIDE 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

	MIDE	DBO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.40%	12.79%	-8.39%
Volatility (6M) Calculated over the trailing 6-month period	11.41%	28.32%	-16.91%
Volatility (1Y) Calculated over the trailing 1-year period	15.81%	34.58%	-18.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.71%	32.31%	-12.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.67%	31.79%	-12.12%

MIDE vs. DBO - Expense Ratio Comparison

MIDE has a 0.15% expense ratio, which is lower than DBO's 0.78% expense ratio.

Dividends

MIDE vs. DBO - Dividend Comparison

MIDE's dividend yield for the trailing twelve months is around 1.31%, less 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%
MIDE Xtrackers S&P MidCap 400 ESG ETF	1.31%	1.52%	1.45%	1.36%	1.33%	0.93%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MIDE and DBO in my portfolio?

MIDE and DBO have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MIDE or DBO?

DBO has higher volatility (12.79%) compared to MIDE (4.40%). In terms of maximum drawdown, MIDE dropped -24.59% vs DBO's -90.18%.

Which ETF is better, MIDE or DBO?

On 5-year performance, DBO leads with 15.36% vs 8.38% for MIDE. On fees, MIDE is cheaper at 0.15% per year. On volatility, MIDE has been the lower-risk option at 4.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MIDE or DBO?

Over the 5-year period, DBO has performed better with a 15.36% return vs 8.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MIDE or DBO?

MIDE is cheaper with a 0.15% expense ratio, compared with 0.78% for DBO.

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

DBO has the higher dividend yield at 1.95%, compared with 1.31% for MIDE.

What is the main difference between MIDE and DBO?

MIDE is categorized as Mid Cap Blend Equities, while DBO is Oil & Gas. MIDE tracks S&P MidCap 400 ESG Index, while DBO tracks DBIQ Optimum Yield Crude Oil Index Excess Return. They also come from different issuers: Deutsche Bank and Invesco. Their fees differ too: 0.15% for MIDE and 0.78% for DBO.

Which has better risk-adjusted returns?

DBO currently has the higher Sharpe Ratio (2.25 vs 1.84), 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.