NAIL vs. DBO
NAIL (Direxion Daily Homebuilders & Supplies Bull 3X Shares) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - NAIL is a Leveraged Equities fund tracking the Dow Jones U.S. Select Home Construction Index (300%), while DBO is a Oil & Gas fund tracking the DBIQ Optimum Yield Crude Oil Index Excess Return. Both are passively managed. Over the past 10 years, NAIL returned 3.21%/yr vs 10.29%/yr for DBO. At a 0.09 correlation, their price movements are largely independent. NAIL charges 0.99%/yr vs 0.78%/yr for DBO.
Performance
NAIL vs. DBO - Performance Comparison
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Returns By Period
In the year-to-date period, NAIL achieves a -16.63% return, which is significantly lower than DBO's 63.77% return. Over the past 10 years, NAIL has underperformed DBO with an annualized return of 3.21%, while DBO has yielded a comparatively higher 10.29% annualized return.
NAIL
- 1D
- 2.44%
- 1M
- -4.01%
- 6M
- -41.20%
- YTD
- -16.63%
- 1Y
- -31.84%
- 3Y*
- -20.84%
- 5Y*
- -9.46%
- 10Y*
- 3.21%
DBO
- 1D
- 1.99%
- 1M
- -2.35%
- 6M
- 54.17%
- YTD
- 63.77%
- 1Y
- 51.26%
- 3Y*
- 14.96%
- 5Y*
- 12.44%
- 10Y*
- 10.29%
NAIL vs. DBO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NAIL Direxion Daily Homebuilders & Supplies Bull 3X Shares | -16.63% | -40.43% | -22.83% | 259.61% | -75.23% | 168.20% | -32.08% | 184.63% | -73.96% | 268.71% |
DBO Invesco DB Oil Fund | 63.77% | -11.71% | 7.85% | -4.44% | 13.04% | 60.74% | -20.99% | 28.05% | -15.22% | 4.86% |
Correlation
The correlation between NAIL and DBO is -0.30, 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 | -0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.00 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Aug 19, 2015 | 0.09 |
The correlation between NAIL and DBO shifts across timeframes, from -0.30 (1 year) to 0.09 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
NAIL vs. DBO — Risk / Return Rank
NAIL
DBO
NAIL vs. DBO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Homebuilders & Supplies Bull 3X Shares (NAIL) 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.
| NAIL | DBO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.79 | ||
| Sortino ratioReturn per unit of downside risk | -2.05 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.25 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | -0.47 | 1.86 | -2.33 |
| Martin ratioReturn relative to average drawdown | -0.76 | 5.02 | -5.78 |
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Drawdowns
NAIL vs. DBO - Drawdown Comparison
The maximum NAIL drawdown since its inception was -93.75%, roughly equal to the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for NAIL and DBO.
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Drawdown Indicators
| NAIL | DBO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.75% | -90.18% | -3.57% |
Max Drawdown (1Y)Largest decline over 1 year | -67.85% | -27.73% | -40.12% |
Max Drawdown (3Y)Largest decline over 3 years | -82.09% | -28.20% | -53.89% |
Max Drawdown (5Y)Largest decline over 5 years | -84.40% | -37.68% | -46.72% |
Max Drawdown (10Y)Largest decline over 10 years | -93.75% | -61.69% | -32.06% |
Current DrawdownCurrent decline from peak | -76.18% | -56.90% | -19.28% |
Average DrawdownAverage peak-to-trough decline | -44.08% | -62.22% | +18.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 41.98% | 10.23% | +31.75% |
Volatility
NAIL vs. DBO - Volatility Comparison
Direxion Daily Homebuilders & Supplies Bull 3X Shares (NAIL) has a higher volatility of 28.94% compared to Invesco DB Oil Fund (DBO) at 14.35%. This indicates that NAIL's price experiences larger fluctuations and is considered to be riskier 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
| NAIL | DBO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 28.94% | 14.35% | +14.59% |
Volatility (6M)Calculated over the trailing 6-month period | 63.56% | 31.17% | +32.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 89.78% | 36.05% | +53.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 87.93% | 32.93% | +55.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 89.63% | 31.92% | +57.71% |
NAIL vs. DBO - Expense Ratio Comparison
NAIL has a 0.99% expense ratio, which is higher than DBO's 0.78% expense ratio.
Dividends
NAIL vs. DBO - Dividend Comparison
NAIL's dividend yield for the trailing twelve months is around 0.75%, less than DBO's 2.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DBO Invesco DB Oil Fund | 2.14% | 3.51% | 4.68% | 4.59% | 0.66% | 0.00% | 0.00% | 1.63% | 1.58% | 0.00% |
NAIL Direxion Daily Homebuilders & Supplies Bull 3X Shares | 0.75% | 1.55% | 0.63% | 0.22% | 0.00% | 0.00% | 0.01% | 0.17% | 0.35% | 1.25% |
Frequently Asked Questions
NAIL and DBO have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NAIL has higher volatility (28.94%) compared to DBO (14.35%). In terms of maximum drawdown, NAIL dropped -93.75% vs DBO's -90.18%.
On 10-year performance, DBO leads with 10.29% vs 3.21% for NAIL. On fees, DBO is cheaper at 0.78% per year. On volatility, DBO has been the lower-risk option at 14.35%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DBO has performed better with a 10.29% return vs 3.21%. 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 0.99% for NAIL.
DBO has the higher dividend yield at 2.14%, compared with 0.75% for NAIL.
NAIL is categorized as Leveraged Equities, while DBO is Oil & Gas. NAIL tracks Dow Jones U.S. Select Home Construction Index (300%), while DBO tracks DBIQ Optimum Yield Crude Oil Index Excess Return. They also come from different issuers: Direxion and Invesco. Their fees differ too: 0.99% for NAIL and 0.78% for DBO.
DBO currently has the higher Sharpe Ratio (1.43 vs -0.36), 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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