PILL vs. DBO
PILL (Direxion Daily Pharmaceutical & Medical Bull 3X Shares) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - PILL is a Leveraged Equities fund tracking the Dynamic Pharmaceuticals Intellidex 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 5 years, PILL returned -1.67%/yr vs 13.46%/yr for DBO. Their 0.12 correlation means their historical movements had little consistent relationship. PILL charges 0.98%/yr vs 0.78%/yr for DBO.
Performance
PILL vs. DBO - Performance Comparison
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Returns By Period
In the year-to-date period, PILL achieves a 53.57% return, which is significantly lower than DBO's 76.48% return.
PILL
- 1D
- -7.82%
- 1M
- 2.28%
- 6M
- 62.55%
- YTD
- 53.57%
- 1Y
- 244.12%
- 3Y*
- 27.36%
- 5Y*
- -1.67%
- 10Y*
- —
- ALL TIME*
- -1.75%
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 | |
| $1.07M | $1.58M | $1.17M |
PILL vs. DBO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PILL Direxion Daily Pharmaceutical & Medical Bull 3X Shares | 53.57% | 75.14% | -7.26% | -12.06% | -43.16% | -37.33% | 0.28% | 19.26% | -21.15% | 16.39% |
DBO Invesco DB Oil Fund | 76.48% | -11.71% | 7.85% | -4.44% | 13.04% | 60.74% | -20.99% | 28.05% | -15.22% | 7.75% |
Correlation
The correlation between PILL 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. | -0.11 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.00 |
Correlation (All Time) Calculated using the full available price history since Nov 15, 2017 | 0.12 |
The correlation between PILL 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
PILL vs. DBO — Risk / Return Rank
PILL
DBO
PILL vs. DBO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Pharmaceutical & Medical Bull 3X Shares (PILL) 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.
| PILL | DBO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.48 | ||
| Sortino ratioReturn per unit of downside risk | +1.60 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.25 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 7.71 | 2.01 | +5.71 |
| Martin ratioReturn relative to average drawdown | 25.14 | 6.09 | +19.04 |
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Drawdowns
PILL vs. DBO - Drawdown Comparison
The maximum PILL drawdown since its inception was -88.76%, roughly equal to the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for PILL and DBO.
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Drawdown Indicators
| PILL | DBO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.76% | -90.18% | +1.42% |
Max Drawdown (1Y)Largest decline over 1 year | -33.21% | -27.73% | -5.48% |
Max Drawdown (3Y)Largest decline over 3 years | -60.43% | -28.20% | -32.23% |
Max Drawdown (5Y)Largest decline over 5 years | -82.00% | -37.68% | -44.32% |
Max Drawdown (10Y)Largest decline over 10 years | — | -61.69% | — |
Current DrawdownCurrent decline from peak | -47.38% | -53.56% | +6.18% |
Average DrawdownAverage peak-to-trough decline | -58.40% | -62.20% | +3.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.17% | 9.96% | +0.21% |
Volatility
PILL vs. DBO - Volatility Comparison
Direxion Daily Pharmaceutical & Medical Bull 3X Shares (PILL) has a higher volatility of 24.20% compared to Invesco DB Oil Fund (DBO) at 17.75%. This indicates that PILL's price experiences larger fluctuations and is considered to be riskier 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
| PILL | DBO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.20% | 17.75% | +6.45% |
Volatility (6M)Calculated over the trailing 6-month period | 51.16% | 33.77% | +17.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 65.62% | 38.53% | +27.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 60.99% | 33.35% | +27.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 64.02% | 32.20% | +31.82% |
PILL vs. DBO - Expense Ratio Comparison
PILL has a 0.98% expense ratio, which is higher than DBO's 0.78% expense ratio.
Dividends
PILL vs. DBO - Dividend Comparison
PILL's dividend yield for the trailing twelve months is around 0.36%, less than DBO's 1.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
PILL Direxion Daily Pharmaceutical & Medical Bull 3X Shares | 0.36% | 0.69% | 1.28% | 1.83% | 0.67% | 0.00% | 0.00% | 0.38% | 0.91% | 0.10% |
Frequently Asked Questions
PILL 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.
PILL has higher volatility (24.20%) compared to DBO (17.75%). In terms of maximum drawdown, PILL dropped -88.76% vs DBO's -90.18%.
On 5-year performance, DBO leads with 13.46% vs -1.67% for PILL. On fees, DBO is cheaper at 0.78% per year. On volatility, DBO has been the lower-risk option at 17.75%. 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 13.46% return vs -1.67%. 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 0.98% for PILL.
DBO has the higher dividend yield at 1.99%, compared with 0.36% for PILL.
PILL is categorized as Leveraged Equities, while DBO is Oil & Gas. PILL tracks Dynamic Pharmaceuticals Intellidex Index, while DBO tracks DBIQ Optimum Yield Crude Oil Index Excess Return. They also come from different issuers: Direxion and Invesco. Their fees differ too: 0.98% for PILL and 0.78% for DBO.
PILL currently has the higher Sharpe Ratio (3.93 vs 1.45), 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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