PBOG vs. DBO
PBOG (Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - PBOG is a Energy Equities fund tracking the BITA Global Oil & Gas Select Index, while DBO is a Oil & Gas fund tracking the DBIQ Optimum Yield Crude Oil Index Excess Return. Both are passively managed. A 0.72 correlation means they provide meaningful diversification when combined. PBOG charges 0.13%/yr vs 0.78%/yr for DBO.
Performance
PBOG vs. DBO - Performance Comparison
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Returns By Period
In the year-to-date period, PBOG achieves a 20.33% return, which is significantly lower than DBO's 50.16% return.
PBOG
- 1D
- 0.25%
- 1M
- -9.73%
- YTD
- 20.33%
- 6M
- 21.36%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DBO
- 1D
- -1.13%
- 1M
- -18.58%
- YTD
- 50.16%
- 6M
- 47.74%
- 1Y
- 36.30%
- 3Y*
- 14.32%
- 5Y*
- 10.16%
- 10Y*
- 9.22%
PBOG vs. DBO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
PBOG Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF | 20.33% | 1.39% |
DBO Invesco DB Oil Fund | 50.16% | -1.98% |
Correlation
The correlation between PBOG and DBO is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 25, 2025 | 0.72 |
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Return for Risk
PBOG vs. DBO — Risk / Return Rank
PBOG
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
DBO
PBOG vs. DBO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF (PBOG) 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.
| PBOG | DBO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.19 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.58 | — |
| Martin ratioReturn relative to average drawdown | — | 4.29 | — |
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Drawdowns
PBOG vs. DBO - Drawdown Comparison
The maximum PBOG drawdown since its inception was -16.46%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for PBOG and DBO.
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Drawdown Indicators
| PBOG | DBO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.46% | -90.18% | +73.72% |
Max Drawdown (1Y)Largest decline over 1 year | — | -23.03% | — |
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 DrawdownCurrent decline from peak | -15.19% | -60.48% | +45.29% |
Average DrawdownAverage peak-to-trough decline | -3.86% | -62.22% | +58.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 8.51% | — |
Volatility
PBOG vs. DBO - Volatility Comparison
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Volatility by Period
| PBOG | DBO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 10.29% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 29.36% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 23.95% | 34.89% | -10.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.95% | 32.54% | -8.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.95% | 31.81% | -7.86% |
PBOG vs. DBO - Expense Ratio Comparison
PBOG has a 0.13% expense ratio, which is lower than DBO's 0.78% expense ratio.
Dividends
PBOG vs. DBO - Dividend Comparison
PBOG's dividend yield for the trailing twelve months is around 0.14%, less than DBO's 2.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBO Invesco DB Oil Fund | 2.34% | 3.51% | 4.68% | 4.59% | 0.66% | 0.00% | 0.00% | 1.63% | 1.58% |
PBOG Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF | 0.14% | 0.17% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PBOG and DBO have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PBOG is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PBOG is cheaper with a 0.13% expense ratio, compared with 0.78% for DBO.
DBO has the higher dividend yield at 2.34%, compared with 0.14% for PBOG.
PBOG is categorized as Energy Equities, while DBO is Oil & Gas. PBOG tracks BITA Global Oil & Gas Select Index, while DBO tracks DBIQ Optimum Yield Crude Oil Index Excess Return. They also come from different issuers: Portfolio Building Blocks and Invesco. Their fees differ too: 0.13% for PBOG and 0.78% for DBO.
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