NFTY vs. DBO
NFTY (First Trust India NIFTY 50 Equal Weight ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - NFTY is a India Equities fund tracking the NIFTY 50 Equal Weight 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 10 years, NFTY returned 7.50%/yr vs 12.59%/yr for DBO. Their 0.10 correlation means their historical movements had little consistent relationship. NFTY charges 0.80%/yr vs 0.78%/yr for DBO.
Performance
NFTY vs. DBO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, NFTY achieves a -5.91% return, which is significantly lower than DBO's 76.48% return. Over the past 10 years, NFTY has underperformed DBO with an annualized return of 7.50%, while DBO has yielded a comparatively higher 12.59% annualized return.
NFTY
- 1D
- -0.10%
- 1M
- 0.86%
- 6M
- -2.37%
- YTD
- -5.91%
- 1Y
- -2.47%
- 3Y*
- 5.47%
- 5Y*
- 5.91%
- 10Y*
- 7.50%
- ALL TIME*
- 6.00%
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 | |
| $2.39M | $1.68M | $1.69M |
NFTY vs. DBO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NFTY First Trust India NIFTY 50 Equal Weight ETF | -5.91% | 5.47% | 5.18% | 24.00% | -3.46% | 26.83% | 10.04% | 0.58% | -1.51% | 21.78% |
DBO Invesco DB Oil Fund | 76.48% | -11.71% | 7.85% | -4.44% | 13.04% | 60.74% | -20.99% | 28.05% | -15.22% | 4.86% |
Correlation
The correlation between NFTY and DBO is -0.37, 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. | -0.37 |
Correlation (3Y) Balances recent behavior with more history. | -0.12 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.02 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.08 |
Correlation (All Time) Calculated using the full available price history since Feb 28, 2012 | 0.10 |
The correlation between NFTY and DBO shifts across timeframes, from -0.37 (1 year) to 0.10 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
NFTY vs. DBO — Risk / Return Rank
NFTY
DBO
NFTY vs. DBO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust India NIFTY 50 Equal Weight ETF (NFTY) 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.
| NFTY | DBO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.59 | ||
| Sortino ratioReturn per unit of downside risk | -2.16 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.25 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | -0.14 | 2.01 | -2.14 |
| Martin ratioReturn relative to average drawdown | -0.31 | 6.09 | -6.40 |
Loading charts...
Drawdowns
NFTY vs. DBO - Drawdown Comparison
The maximum NFTY drawdown since its inception was -47.67%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for NFTY and DBO.
Loading charts...
Drawdown Indicators
| NFTY | DBO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.67% | -90.18% | +42.51% |
Max Drawdown (1Y)Largest decline over 1 year | -16.14% | -27.73% | +11.59% |
Max Drawdown (3Y)Largest decline over 3 years | -21.55% | -28.20% | +6.65% |
Max Drawdown (5Y)Largest decline over 5 years | -21.55% | -37.68% | +16.13% |
Max Drawdown (10Y)Largest decline over 10 years | -47.67% | -61.69% | +14.02% |
Current DrawdownCurrent decline from peak | -13.99% | -53.56% | +39.57% |
Average DrawdownAverage peak-to-trough decline | -9.65% | -62.20% | +52.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.98% | 9.96% | -2.98% |
Volatility
NFTY vs. DBO - Volatility Comparison
The current volatility for First Trust India NIFTY 50 Equal Weight ETF (NFTY) is 3.54%, while Invesco DB Oil Fund (DBO) has a volatility of 17.75%. This indicates that NFTY 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.
Loading charts...
Volatility by Period
| NFTY | DBO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.54% | 17.75% | -14.21% |
Volatility (6M)Calculated over the trailing 6-month period | 12.71% | 33.77% | -21.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.82% | 38.53% | -23.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.42% | 33.35% | -15.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.64% | 32.20% | -11.56% |
NFTY vs. DBO - Expense Ratio Comparison
NFTY has a 0.80% expense ratio, which is higher than DBO's 0.78% expense ratio.
Dividends
NFTY vs. DBO - Dividend Comparison
NFTY's dividend yield for the trailing twelve months is around 1.88%, less than DBO's 1.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBO Invesco DB Oil Fund | 1.99% | 3.51% | 4.68% | 4.59% | 0.66% | 0.00% | 0.00% | 1.63% | 1.58% | 0.00% | 0.00% | 0.00% |
NFTY First Trust India NIFTY 50 Equal Weight ETF | 1.88% | 1.24% | 1.61% | 0.13% | 5.89% | 1.53% | 0.61% | 0.97% | 0.00% | 4.10% | 3.28% | 4.39% |
Frequently Asked Questions
NFTY and DBO have a correlation of -0.37, 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 NFTY (3.54%). In terms of maximum drawdown, NFTY dropped -47.67% vs DBO's -90.18%.
On 10-year performance, DBO leads with 12.59% vs 7.50% for NFTY. On fees, DBO is cheaper at 0.78% per year. On volatility, NFTY has been the lower-risk option at 3.54%. 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 12.59% return vs 7.50%. 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 0.80% for NFTY.
DBO has the higher dividend yield at 1.99%, compared with 1.88% for NFTY.
NFTY is categorized as India Equities, while DBO is Oil & Gas. NFTY tracks NIFTY 50 Equal Weight Index, while DBO tracks DBIQ Optimum Yield Crude Oil Index Excess Return. They also come from different issuers: First Trust and Invesco. Their fees differ too: 0.80% for NFTY and 0.78% for DBO.
DBO currently has the higher Sharpe Ratio (1.45 vs -0.15), 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.
Find the right allocation for NFTY and DBO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer