OILT vs. DBC

Last updated Jun 4, 2026

OILT (Texas Capital Texas Oil Index ETF) and DBC (Invesco DB Commodity Index Tracking Fund) are both exchange-traded funds - OILT is a Energy Equities fund tracking the Alerian Texas Weighted Oil and Gas Index - Benchmark TR Gross, while DBC is a Commodities fund tracking the DBIQ Optimum Yield Diversified Commodity Index Excess Return. Both are passively managed. Over the past year, OILT returned 47.26% vs 45.90% for DBC. A 0.69 correlation means they provide meaningful diversification when combined. OILT charges 0.35%/yr vs 0.85%/yr for DBC.

Performance

OILT vs. DBC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Texas Capital Texas Oil Index ETF (OILT) and Invesco DB Commodity Index Tracking Fund (DBC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with OILT having a 35.33% return and DBC slightly higher at 35.47%.

OILT

• 1D: 1.74%
• 1M: -4.77%
• YTD: 35.33%
• 6M: 29.79%
• 1Y: 47.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DBC

• 1D: 0.56%
• 1M: -3.32%
• YTD: 35.47%
• 6M: 35.36%
• 1Y: 45.90%
• 3Y*: 15.09%
• 5Y*: 12.78%
• 10Y*: 9.10%

*Multi-year figures are annualized to reflect compound growth (CAGR)

OILT vs. DBC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
OILT Texas Capital Texas Oil Index ETF	35.33%	-3.30%	0.87%	-0.16%
DBC Invesco DB Commodity Index Tracking Fund	35.47%	8.10%	2.18%	-1.03%

Correlation

The correlation between OILT and DBC is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.67
Correlation (All Time) Calculated using the full available price history since Dec 22, 2023	0.69

The correlation between OILT and DBC has been stable across timeframes, ranging from 0.67 to 0.69 - a consistent structural relationship.

OILT vs. DBC - Sectors Allocation Comparison

Sectors	OILT	DBC
Energy	94.2%	-
Utilities	5.8%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	91.5%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-

Return for Risk

OILT vs. DBC — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

OILT

OILT Risk / Return Rank: 51
OILT Sharpe Ratio Rank: 49
OILT Sortino Ratio Rank: 45
OILT Omega Ratio Rank: 42
OILT Calmar Ratio Rank: 70
OILT Martin Ratio Rank: 50

DBC

DBC Risk / Return Rank: 75
DBC Sharpe Ratio Rank: 74
DBC Sortino Ratio Rank: 67
DBC Omega Ratio Rank: 70
DBC Calmar Ratio Rank: 92
DBC Martin Ratio Rank: 72

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

OILT vs. DBC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Texas Capital Texas Oil Index ETF (OILT) and Invesco DB Commodity Index Tracking Fund (DBC). 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.

	OILT	DBC	Difference
Sharpe ratio: Return per unit of total volatility	1.70	2.47	-0.77
Sortino ratio: Return per unit of downside risk	2.25	3.16	-0.91
Omega ratio: Gain probability vs. loss probability	1.27	1.43	-0.16
Calmar ratio: Return relative to maximum drawdown	3.44	6.54	-3.10
Martin ratio: Return relative to average drawdown	8.37	13.91	-5.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OILT vs. DBC - Sharpe Ratio Comparison

The current OILT Sharpe Ratio is 1.70, which is lower than the DBC Sharpe Ratio of 2.47. The chart below compares the historical Sharpe Ratios of OILT and DBC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	OILT	DBC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.70	2.47	-0.77
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.67	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.51	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.12	+0.30

Drawdowns

OILT vs. DBC - Drawdown Comparison

The maximum OILT drawdown since its inception was -35.21%, smaller than the maximum DBC drawdown of -76.36%. Use the drawdown chart below to compare losses from any high point for OILT and DBC.

Drawdown Indicators

	OILT	DBC	Difference
Max Drawdown Largest peak-to-trough decline	-35.21%	-76.36%	+41.15%
Max Drawdown (1Y) Largest decline over 1 year	-13.79%	-7.05%	-6.74%
Max Drawdown (3Y) Largest decline over 3 years	—	-13.82%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-27.34%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.71%	—
Current Drawdown Current decline from peak	-8.67%	-21.64%	+12.97%
Average Drawdown Average peak-to-trough decline	-12.93%	-46.22%	+33.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.66%	3.31%	+2.35%

Volatility

OILT vs. DBC - Volatility Comparison

Texas Capital Texas Oil Index ETF (OILT) has a higher volatility of 9.94% compared to Invesco DB Commodity Index Tracking Fund (DBC) at 6.45%. This indicates that OILT's price experiences larger fluctuations and is considered to be riskier than DBC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OILT	DBC	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.94%	6.45%	+3.49%
Volatility (6M) Calculated over the trailing 6-month period	21.13%	15.75%	+5.38%
Volatility (1Y) Calculated over the trailing 1-year period	28.09%	18.68%	+9.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.72%	19.18%	+9.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.72%	17.81%	+10.91%

OILT vs. DBC - Expense Ratio Comparison

OILT has a 0.35% expense ratio, which is lower than DBC's 0.85% expense ratio.

Dividends

OILT vs. DBC - Dividend Comparison

OILT's dividend yield for the trailing twelve months is around 2.43%, less than DBC's 2.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DBC Invesco DB Commodity Index Tracking Fund	2.46%	3.33%	5.22%	4.94%	0.59%	0.00%	0.00%	1.59%	1.30%
OILT Texas Capital Texas Oil Index ETF	2.43%	3.12%	2.63%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both OILT and DBC in my portfolio?

OILT and DBC have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OILT or DBC?

OILT has higher volatility (9.94%) compared to DBC (6.45%). In terms of maximum drawdown, OILT dropped -35.21% vs DBC's -76.36%.

Which ETF is better, OILT or DBC?

On 1-year performance, OILT leads with 47.26% vs 45.90% for DBC. On fees, OILT is cheaper at 0.35% per year. On volatility, DBC has been the lower-risk option at 6.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OILT or DBC?

Over the 1-year period, OILT has performed better with a 47.26% return vs 45.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OILT or DBC?

OILT is cheaper with a 0.35% expense ratio, compared with 0.85% for DBC.

Which ETF pays a higher dividend yield, OILT or DBC?

DBC has the higher dividend yield at 2.46%, compared with 2.43% for OILT.

What is the main difference between OILT and DBC?

OILT is categorized as Energy Equities, while DBC is Commodities. OILT tracks Alerian Texas Weighted Oil and Gas Index - Benchmark TR Gross, while DBC tracks DBIQ Optimum Yield Diversified Commodity Index Excess Return. They also come from different issuers: Texas Capital and Invesco. Their fees differ too: 0.35% for OILT and 0.85% for DBC.

Which has better risk-adjusted returns?

DBC currently has the higher Sharpe Ratio (2.47 vs 1.70), 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.