NTSX vs. DBO
NTSX (WisdomTree U.S. Efficient Core Fund) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - NTSX is a Diversified Portfolio fund actively managed by WisdomTree, while DBO is a Oil & Gas fund tracking the DBIQ Optimum Yield Crude Oil Index Excess Return. NTSX is actively managed, while DBO is passively managed. Over the past 5 years, NTSX returned 8.42%/yr vs 13.64%/yr for DBO. Their 0.12 correlation means their historical movements had little consistent relationship. NTSX charges 0.20%/yr vs 0.78%/yr for DBO.
Performance
NTSX vs. DBO - Performance Comparison
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Returns By Period
In the year-to-date period, NTSX achieves a 8.99% return, which is significantly lower than DBO's 66.72% return.
NTSX
- 1D
- 1.59%
- 1M
- 1.07%
- 6M
- 7.46%
- YTD
- 8.99%
- 1Y
- 19.38%
- 3Y*
- 18.54%
- 5Y*
- 8.42%
- 10Y*
- —
- ALL TIME*
- 12.84%
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 | |
| $1.98M | $1.82M | $2.61M |
NTSX vs. DBO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
NTSX WisdomTree U.S. Efficient Core Fund | 8.99% | 18.82% | 20.20% | 22.70% | -25.84% | 22.21% | 24.87% | 32.03% | -7.87% |
DBO Invesco DB Oil Fund | 66.72% | -11.71% | 7.85% | -4.44% | 13.04% | 60.74% | -20.99% | 28.05% | -28.23% |
Correlation
The correlation between NTSX and DBO is -0.26, 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. | -0.26 |
Correlation (3Y) Balances recent behavior with more history. | -0.08 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.02 |
Correlation (All Time) Calculated using the full available price history since Aug 2, 2018 | 0.12 |
The correlation between NTSX and DBO shifts across timeframes, from -0.26 (1 year) to 0.12 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
NTSX vs. DBO — Risk / Return Rank
NTSX
DBO
NTSX vs. DBO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree U.S. Efficient Core Fund (NTSX) 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.
| NTSX | DBO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.23 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.12 | 1.86 | +0.26 |
| Martin ratioReturn relative to average drawdown | 8.61 | 5.64 | +2.97 |
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Drawdowns
NTSX vs. DBO - Drawdown Comparison
The maximum NTSX drawdown since its inception was -31.34%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for NTSX and DBO.
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Drawdown Indicators
| NTSX | DBO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.34% | -90.18% | +58.84% |
Max Drawdown (1Y)Largest decline over 1 year | -9.16% | -27.73% | +18.57% |
Max Drawdown (3Y)Largest decline over 3 years | -16.82% | -28.20% | +11.38% |
Max Drawdown (5Y)Largest decline over 5 years | -31.34% | -37.68% | +6.34% |
Max Drawdown (10Y)Largest decline over 10 years | — | -61.69% | — |
Current DrawdownCurrent decline from peak | -0.71% | -56.13% | +55.42% |
Average DrawdownAverage peak-to-trough decline | -6.69% | -62.20% | +55.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.26% | 9.16% | -6.90% |
Volatility
NTSX vs. DBO - Volatility Comparison
The current volatility for WisdomTree U.S. Efficient Core Fund (NTSX) is 4.14%, while Invesco DB Oil Fund (DBO) has a volatility of 18.99%. This indicates that NTSX 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
| NTSX | DBO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.14% | 18.99% | -14.85% |
Volatility (6M)Calculated over the trailing 6-month period | 10.85% | 34.30% | -23.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.35% | 38.86% | -25.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.22% | 33.43% | -16.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.23% | 32.24% | -14.01% |
NTSX vs. DBO - Expense Ratio Comparison
NTSX has a 0.20% expense ratio, which is lower than DBO's 0.78% expense ratio.
Dividends
NTSX vs. DBO - Dividend Comparison
NTSX's dividend yield for the trailing twelve months is around 1.08%, 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% |
NTSX WisdomTree U.S. Efficient Core Fund | 1.08% | 1.14% | 1.14% | 1.21% | 1.36% | 0.82% | 0.92% | 1.42% | 0.62% |
Frequently Asked Questions
NTSX and DBO have a correlation of -0.26, 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 NTSX (4.14%). In terms of maximum drawdown, NTSX dropped -31.34% vs DBO's -90.18%.
On 5-year performance, DBO leads with 13.64% vs 8.42% for NTSX. On fees, NTSX is cheaper at 0.20% per year. On volatility, NTSX has been the lower-risk option at 4.14%. 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 8.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NTSX is cheaper with a 0.20% expense ratio, compared with 0.78% for DBO.
DBO has the higher dividend yield at 2.11%, compared with 1.08% for NTSX.
NTSX is categorized as Diversified Portfolio, while DBO is Oil & Gas. They also come from different issuers: WisdomTree and Invesco. Their fees differ too: 0.20% for NTSX and 0.78% for DBO.
NTSX currently has the higher Sharpe Ratio (1.46 vs 1.33), 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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