PATN vs. DBO

Last updated Aug 4, 2026

PATN (Pacer Nasdaq International Patent Leaders ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - PATN is a Foreign Large Cap Equities fund tracking the Nasdaq International Patent Leaders 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 year, PATN returned 53.28% vs 51.44% for DBO. Their -0.14 correlation means they have often moved in opposite directions in the past. PATN charges 0.65%/yr vs 0.78%/yr for DBO.

Performance

PATN vs. DBO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer Nasdaq International Patent Leaders ETF (PATN) and Invesco DB Oil Fund (DBO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PATN achieves a 28.74% return, which is significantly lower than DBO's 66.72% return.

PATN

• 1D: 0.61%
• 1M: -3.34%
• 6M: 17.25%
• YTD: 28.74%
• 1Y: 53.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 35.65%

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%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DBO Invesco DB Oil Fund	$11.34M	$10.71M	$13.49M
PATN Pacer Nasdaq International Patent Leaders ETF	$6.30M	$4.83M	$3.83M

PATN vs. DBO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PATN Pacer Nasdaq International Patent Leaders ETF	28.74%	40.01%	-1.73%
DBO Invesco DB Oil Fund	66.72%	-11.71%	6.93%

Correlation

The correlation between PATN and DBO is -0.24, 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.	-0.24
Correlation (All Time) Calculated using the full available price history since Sep 17, 2024	-0.14

The correlation between PATN and DBO shifts across timeframes, from -0.24 (1 year) to -0.14 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PATN vs. DBO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PATN

PATN Risk / Return Rank: 83
PATN Sharpe Ratio Rank: 85
PATN Sortino Ratio Rank: 79
PATN Omega Ratio Rank: 83
PATN Calmar Ratio Rank: 88
PATN Martin Ratio Rank: 82

DBO

DBO Risk / Return Rank: 51
DBO Sharpe Ratio Rank: 53
DBO Sortino Ratio Rank: 53
DBO Omega Ratio Rank: 50
DBO Calmar Ratio Rank: 51
DBO Martin Ratio Rank: 48

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PATN vs. DBO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer Nasdaq International Patent Leaders ETF (PATN) 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.

	PATN	DBO	Difference
Sharpe ratio: Return per unit of total volatility	2.11	1.33	+0.78
Sortino ratio: Return per unit of downside risk	2.71	1.92	+0.78
Omega ratio: Gain probability vs. loss probability	1.38	1.23	+0.14
Calmar ratio: Return relative to maximum drawdown	3.72	1.86	+1.85
Martin ratio: Return relative to average drawdown	11.66	5.64	+6.02

PATN vs. DBO - Sharpe Ratio Comparison

The current PATN Sharpe Ratio is 2.11, which is higher than the DBO Sharpe Ratio of 1.33. The chart below compares the historical Sharpe Ratios of PATN and DBO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PATN vs. DBO - Drawdown Comparison

The maximum PATN drawdown since its inception was -16.77%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for PATN and DBO.

Drawdown Indicators

	PATN	DBO	Difference
Max Drawdown Largest peak-to-trough decline	-16.77%	-90.18%	+73.41%
Max Drawdown (1Y) Largest decline over 1 year	-14.40%	-27.73%	+13.33%
Max Drawdown (3Y) Largest decline over 3 years	—	-28.20%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-37.68%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-61.69%	—
Current Drawdown Current decline from peak	-9.34%	-56.13%	+46.79%
Average Drawdown Average peak-to-trough decline	-3.44%	-62.20%	+58.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.58%	9.16%	-4.58%

Volatility

PATN vs. DBO - Volatility Comparison

The current volatility for Pacer Nasdaq International Patent Leaders ETF (PATN) is 8.80%, while Invesco DB Oil Fund (DBO) has a volatility of 18.99%. This indicates that PATN 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.

Volatility by Period

	PATN	DBO	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.80%	18.99%	-10.19%
Volatility (6M) Calculated over the trailing 6-month period	22.85%	34.30%	-11.45%
Volatility (1Y) Calculated over the trailing 1-year period	25.38%	38.86%	-13.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.70%	33.43%	-10.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.70%	32.24%	-9.54%

PATN vs. DBO - Expense Ratio Comparison

PATN has a 0.65% expense ratio, which is lower than DBO's 0.78% expense ratio.

Dividends

PATN vs. DBO - Dividend Comparison

PATN's dividend yield for the trailing twelve months is around 1.69%, 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%
PATN Pacer Nasdaq International Patent Leaders ETF	1.69%	2.25%	0.30%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PATN and DBO in my portfolio?

PATN and DBO have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PATN or DBO?

DBO has higher volatility (18.99%) compared to PATN (8.80%). In terms of maximum drawdown, PATN dropped -16.77% vs DBO's -90.18%.

Which ETF is better, PATN or DBO?

On 1-year performance, PATN leads with 53.28% vs 51.44% for DBO. On fees, PATN is cheaper at 0.65% per year. On volatility, PATN has been the lower-risk option at 8.80%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PATN or DBO?

Over the 1-year period, PATN has performed better with a 53.28% return vs 51.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PATN or DBO?

PATN is cheaper with a 0.65% expense ratio, compared with 0.78% for DBO.

Which ETF pays a higher dividend yield, PATN or DBO?

DBO has the higher dividend yield at 2.11%, compared with 1.69% for PATN.

What is the main difference between PATN and DBO?

PATN is categorized as Foreign Large Cap Equities, while DBO is Oil & Gas. PATN tracks Nasdaq International Patent Leaders Index, while DBO tracks DBIQ Optimum Yield Crude Oil Index Excess Return. They also come from different issuers: Pacer and Invesco. Their fees differ too: 0.65% for PATN and 0.78% for DBO.

Which has better risk-adjusted returns?

PATN currently has the higher Sharpe Ratio (2.11 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.