MUSQ vs. DBO
MUSQ (MUSQ Global Music Industry Index ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - MUSQ is a Communications Equities fund tracking the MUSQ Global Music Industry 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 3 years, MUSQ returned -0.43%/yr vs 14.86%/yr for DBO. Their -0.03 correlation means they have often moved in opposite directions in the past. MUSQ charges 0.76%/yr vs 0.78%/yr for DBO.
Performance
MUSQ vs. DBO - Performance Comparison
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Returns By Period
In the year-to-date period, MUSQ achieves a -12.75% return, which is significantly lower than DBO's 76.48% return.
MUSQ
- 1D
- -4.84%
- 1M
- -4.32%
- 6M
- -11.21%
- YTD
- -12.75%
- 1Y
- -8.84%
- 3Y*
- -0.43%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 0.00%
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 | |
| $161.63K | $82.87K | $43.23K |
MUSQ vs. DBO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
MUSQ MUSQ Global Music Industry Index ETF | -12.75% | 19.60% | -4.94% | 0.81% |
DBO Invesco DB Oil Fund | 76.48% | -11.71% | 7.85% | 1.99% |
Correlation
The correlation between MUSQ and DBO is -0.15, 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. | -0.15 |
Correlation (3Y) Balances recent behavior with more history. | -0.04 |
Correlation (All Time) Calculated using the full available price history since Jul 7, 2023 | -0.03 |
The correlation between MUSQ and DBO shifts across timeframes, from -0.15 (1 year) to -0.03 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MUSQ vs. DBO — Risk / Return Rank
MUSQ
DBO
MUSQ vs. DBO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MUSQ Global Music Industry Index ETF (MUSQ) 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.
| MUSQ | DBO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.04 | ||
| Sortino ratioReturn per unit of downside risk | -2.78 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.25 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.46 | 2.01 | -2.47 |
| Martin ratioReturn relative to average drawdown | -0.94 | 6.09 | -7.03 |
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Drawdowns
MUSQ vs. DBO - Drawdown Comparison
The maximum MUSQ drawdown since its inception was -23.11%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for MUSQ and DBO.
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Drawdown Indicators
| MUSQ | DBO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.11% | -90.18% | +67.07% |
Max Drawdown (1Y)Largest decline over 1 year | -23.11% | -27.73% | +4.62% |
Max Drawdown (3Y)Largest decline over 3 years | -23.11% | -28.20% | +5.09% |
Max Drawdown (5Y)Largest decline over 5 years | — | -37.68% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -61.69% | — |
Current DrawdownCurrent decline from peak | -18.60% | -53.56% | +34.96% |
Average DrawdownAverage peak-to-trough decline | -7.07% | -62.20% | +55.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.39% | 9.96% | +1.43% |
Volatility
MUSQ vs. DBO - Volatility Comparison
The current volatility for MUSQ Global Music Industry Index ETF (MUSQ) is 6.64%, while Invesco DB Oil Fund (DBO) has a volatility of 17.75%. This indicates that MUSQ 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
| MUSQ | DBO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.64% | 17.75% | -11.11% |
Volatility (6M)Calculated over the trailing 6-month period | 15.14% | 33.77% | -18.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.14% | 38.53% | -20.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.08% | 33.35% | -15.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.08% | 32.20% | -14.12% |
MUSQ vs. DBO - Expense Ratio Comparison
MUSQ has a 0.76% expense ratio, which is lower than DBO's 0.78% expense ratio.
Dividends
MUSQ vs. DBO - Dividend Comparison
MUSQ's dividend yield for the trailing twelve months is around 0.72%, less 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% |
MUSQ MUSQ Global Music Industry Index ETF | 0.72% | 0.63% | 1.08% | 0.74% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MUSQ and DBO have a correlation of -0.15, 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 MUSQ (6.64%). In terms of maximum drawdown, MUSQ dropped -23.11% vs DBO's -90.18%.
On 3-year performance, DBO leads with 14.86% vs -0.43% for MUSQ. On fees, MUSQ is cheaper at 0.76% per year. On volatility, MUSQ has been the lower-risk option at 6.64%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, DBO has performed better with a 14.86% return vs -0.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MUSQ is cheaper with a 0.76% expense ratio, compared with 0.78% for DBO.
DBO has the higher dividend yield at 1.99%, compared with 0.72% for MUSQ.
MUSQ is categorized as Communications Equities, while DBO is Oil & Gas. MUSQ tracks MUSQ Global Music Industry Index, while DBO tracks DBIQ Optimum Yield Crude Oil Index Excess Return. They also come from different issuers: Exchange Traded Concepts and Invesco. Their fees differ too: 0.76% for MUSQ and 0.78% for DBO.
DBO currently has the higher Sharpe Ratio (1.45 vs -0.59), 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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