NERD vs. DBO
NERD (Roundhill Video Games ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - NERD is a Gaming fund actively managed by Roundhill, while DBO is a Oil & Gas fund tracking the DBIQ Optimum Yield Crude Oil Index Excess Return. NERD is actively managed, while DBO is passively managed. Over the past 5 years, NERD returned -4.13%/yr vs 13.64%/yr for DBO. Their 0.11 correlation means their historical movements had little consistent relationship. NERD charges 0.50%/yr vs 0.78%/yr for DBO.
Performance
NERD vs. DBO - Performance Comparison
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Returns By Period
In the year-to-date period, NERD achieves a -11.43% return, which is significantly lower than DBO's 66.72% return.
NERD
- 1D
- 0.95%
- 1M
- 3.73%
- 6M
- -7.81%
- YTD
- -11.43%
- 1Y
- -14.64%
- 3Y*
- 13.27%
- 5Y*
- -4.13%
- 10Y*
- —
- ALL TIME*
- 5.99%
DBO
- 1D
- -5.53%
- 1M
- 17.71%
- 6M
- 53.16%
- YTD
- 66.72%
- 1Y
- 51.44%
- 3Y*
- 12.33%
- 5Y*
- 13.64%
- 10Y*
- 11.43%
- ALL TIME*
- 0.22%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $11.34M | $10.71M | $13.49M | |
| $26.49K | $27.10K | $40.58K |
NERD vs. DBO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
NERD Roundhill Video Games ETF | -11.43% | 23.14% | 28.52% | 12.94% | -43.30% | -17.57% | 89.66% | 8.14% |
DBO Invesco DB Oil Fund | 66.72% | -11.71% | 7.85% | -4.44% | 13.04% | 60.74% | -20.99% | 16.88% |
Correlation
The correlation between NERD and DBO is -0.19, 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. | -0.19 |
Correlation (3Y) Balances recent behavior with more history. | -0.05 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.04 |
Correlation (All Time) Calculated using the full available price history since Jun 4, 2019 | 0.11 |
The correlation between NERD and DBO shifts across timeframes, from -0.19 (1 year) to 0.11 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
NERD vs. DBO — Risk / Return Rank
NERD
DBO
NERD vs. DBO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Roundhill Video Games ETF (NERD) 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.
| NERD | DBO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.05 | ||
| Sortino ratioReturn per unit of downside risk | -2.83 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 1.23 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.44 | 1.86 | -2.31 |
| Martin ratioReturn relative to average drawdown | -0.72 | 5.64 | -6.36 |
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Drawdowns
NERD vs. DBO - Drawdown Comparison
The maximum NERD drawdown since its inception was -65.58%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for NERD and DBO.
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Drawdown Indicators
| NERD | DBO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.58% | -90.18% | +24.60% |
Max Drawdown (1Y)Largest decline over 1 year | -33.23% | -27.73% | -5.50% |
Max Drawdown (3Y)Largest decline over 3 years | -33.23% | -28.20% | -5.03% |
Max Drawdown (5Y)Largest decline over 5 years | -54.10% | -37.68% | -16.42% |
Max Drawdown (10Y)Largest decline over 10 years | — | -61.69% | — |
Current DrawdownCurrent decline from peak | -42.55% | -56.13% | +13.58% |
Average DrawdownAverage peak-to-trough decline | -36.09% | -62.20% | +26.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 20.38% | 9.16% | +11.22% |
Volatility
NERD vs. DBO - Volatility Comparison
The current volatility for Roundhill Video Games ETF (NERD) is 7.11%, while Invesco DB Oil Fund (DBO) has a volatility of 18.99%. This indicates that NERD 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
| NERD | DBO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.11% | 18.99% | -11.88% |
Volatility (6M)Calculated over the trailing 6-month period | 16.02% | 34.30% | -18.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.62% | 38.86% | -18.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.62% | 33.43% | -8.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.46% | 32.24% | -6.78% |
NERD vs. DBO - Expense Ratio Comparison
NERD has a 0.50% expense ratio, which is lower than DBO's 0.78% expense ratio.
Dividends
NERD vs. DBO - Dividend Comparison
NERD's dividend yield for the trailing twelve months is around 0.71%, less than DBO's 2.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBO Invesco DB Oil Fund | 2.11% | 3.51% | 4.68% | 4.59% | 0.66% | 0.00% | 0.00% | 1.63% | 1.58% |
NERD Roundhill Video Games ETF | 0.71% | 0.63% | 1.74% | 1.07% | 0.69% | 0.02% | 1.05% | 0.31% | 0.00% |
Frequently Asked Questions
NERD and DBO have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBO has higher volatility (18.99%) compared to NERD (7.11%). In terms of maximum drawdown, NERD dropped -65.58% vs DBO's -90.18%.
On 5-year performance, DBO leads with 13.64% vs -4.13% for NERD. On fees, NERD is cheaper at 0.50% per year. On volatility, NERD has been the lower-risk option at 7.11%. 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 13.64% return vs -4.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NERD is cheaper with a 0.50% expense ratio, compared with 0.78% for DBO.
DBO has the higher dividend yield at 2.11%, compared with 0.71% for NERD.
NERD is categorized as Gaming, while DBO is Oil & Gas. They also come from different issuers: Roundhill and Invesco. Their fees differ too: 0.50% for NERD and 0.78% for DBO.
DBO currently has the higher Sharpe Ratio (1.33 vs -0.71), 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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