PTMC vs. DBO

Last updated Jun 6, 2026

PTMC (Pacer Trendpilot US Mid Cap ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - PTMC is a Mid Cap Blend Equities fund tracking the Pacer Trendpilot US Mid Cap 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 10 years, PTMC returned 5.91%/yr vs 10.48%/yr for DBO. At a 0.17 correlation, their price movements are largely independent. PTMC charges 0.60%/yr vs 0.78%/yr for DBO.

Performance

PTMC vs. DBO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer Trendpilot US Mid Cap ETF (PTMC) 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, PTMC achieves a 12.33% return, which is significantly lower than DBO's 76.15% return. Over the past 10 years, PTMC has underperformed DBO with an annualized return of 5.91%, while DBO has yielded a comparatively higher 10.48% annualized return.

PTMC

• 1D: -1.91%
• 1M: -0.87%
• YTD: 12.33%
• 6M: 11.93%
• 1Y: 17.22%
• 3Y*: 9.60%
• 5Y*: 3.47%
• 10Y*: 5.91%

DBO

• 1D: -2.05%
• 1M: 1.22%
• YTD: 76.15%
• 6M: 69.63%
• 1Y: 72.26%
• 3Y*: 20.11%
• 5Y*: 14.88%
• 10Y*: 10.48%

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

PTMC vs. DBO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PTMC Pacer Trendpilot US Mid Cap ETF	12.33%	-1.55%	13.22%	7.29%	-13.99%	12.42%	6.58%	1.04%	0.02%	17.79%
DBO Invesco DB Oil Fund	76.15%	-11.71%	7.85%	-4.44%	13.04%	60.74%	-20.99%	28.05%	-15.22%	4.86%

Correlation

The correlation between PTMC and DBO is -0.21, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.21
Correlation (3Y) Calculated over the trailing 3-year period	-0.04
Correlation (5Y) Calculated over the trailing 5-year period	0.07
Correlation (10Y) Calculated over the trailing 10-year period	0.16
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.17

The correlation between PTMC and DBO shifts across timeframes, from -0.21 (1 year) to 0.17 (all time), reflecting how their relationship changes across market environments.

PTMC vs. DBO - Sectors Allocation Comparison

Sectors	PTMC	DBO
Industrials	23.6%	-
Technology	16.4%	-
Financial Services	15.1%	116.0%
Consumer Cyclical	10.8%	-
Healthcare	8.8%	-
Real Estate	7.0%	-
Basic Materials	4.9%	-
Consumer Defensive	4.8%	-
Energy	4.2%	-
Utilities	3.0%	-
Communication Services	1.4%	-

Return for Risk

PTMC vs. DBO — Risk / Return Rank

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

PTMC

PTMC Risk / Return Rank: 38
PTMC Sharpe Ratio Rank: 33
PTMC Sortino Ratio Rank: 35
PTMC Omega Ratio Rank: 34
PTMC Calmar Ratio Rank: 42
PTMC Martin Ratio Rank: 46

DBO

DBO Risk / Return Rank: 62
DBO Sharpe Ratio Rank: 66
DBO Sortino Ratio Rank: 60
DBO Omega Ratio Rank: 57
DBO Calmar Ratio Rank: 80
DBO Martin Ratio Rank: 50

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.

PTMC vs. DBO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer Trendpilot US Mid Cap ETF (PTMC) 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.

	PTMC	DBO	Difference
Sharpe ratio: Return per unit of total volatility	1.13	2.10	-0.97
Sortino ratio: Return per unit of downside risk	1.72	2.71	-0.98
Omega ratio: Gain probability vs. loss probability	1.21	1.34	-0.13
Calmar ratio: Return relative to maximum drawdown	1.94	3.99	-2.05
Martin ratio: Return relative to average drawdown	7.12	8.09	-0.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PTMC vs. DBO - Sharpe Ratio Comparison

The current PTMC Sharpe Ratio is 1.13, which is lower than the DBO Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of PTMC 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.

Sharpe Ratios by Period

	PTMC	DBO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.13	2.10	-0.97
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.26	0.46	-0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	0.33	+0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.01	+0.48

Drawdowns

PTMC vs. DBO - Drawdown Comparison

The maximum PTMC drawdown since its inception was -20.53%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for PTMC and DBO.

Drawdown Indicators

	PTMC	DBO	Difference
Max Drawdown Largest peak-to-trough decline	-20.53%	-90.18%	+69.65%
Max Drawdown (1Y) Largest decline over 1 year	-8.89%	-18.19%	+9.30%
Max Drawdown (3Y) Largest decline over 3 years	-15.31%	-28.20%	+12.89%
Max Drawdown (5Y) Largest decline over 5 years	-16.93%	-37.68%	+20.75%
Max Drawdown (10Y) Largest decline over 10 years	-20.53%	-61.69%	+41.16%
Current Drawdown Current decline from peak	-1.91%	-53.65%	+51.74%
Average Drawdown Average peak-to-trough decline	-6.47%	-62.25%	+55.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.42%	8.96%	-6.54%

Volatility

PTMC vs. DBO - Volatility Comparison

The current volatility for Pacer Trendpilot US Mid Cap ETF (PTMC) is 4.36%, while Invesco DB Oil Fund (DBO) has a volatility of 11.00%. This indicates that PTMC 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

	PTMC	DBO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.36%	11.00%	-6.64%
Volatility (6M) Calculated over the trailing 6-month period	11.59%	28.43%	-16.84%
Volatility (1Y) Calculated over the trailing 1-year period	15.30%	34.63%	-19.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.17%	32.31%	-19.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.99%	31.79%	-18.80%

PTMC vs. DBO - Expense Ratio Comparison

PTMC has a 0.60% expense ratio, which is lower than DBO's 0.78% expense ratio.

Dividends

PTMC vs. DBO - Dividend Comparison

PTMC's dividend yield for the trailing twelve months is around 1.64%, less than DBO's 1.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
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%	0.00%
PTMC Pacer Trendpilot US Mid Cap ETF	1.64%	1.84%	0.87%	1.92%	0.82%	0.12%	0.53%	1.40%	0.89%	0.67%	0.66%

Frequently Asked Questions

Can I hold both PTMC and DBO in my portfolio?

PTMC and DBO have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PTMC or DBO?

DBO has higher volatility (11.00%) compared to PTMC (4.36%). In terms of maximum drawdown, PTMC dropped -20.53% vs DBO's -90.18%.

Which ETF is better, PTMC or DBO?

On 10-year performance, DBO leads with 10.48% vs 5.91% for PTMC. On fees, PTMC is cheaper at 0.60% per year. On volatility, PTMC has been the lower-risk option at 4.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PTMC or DBO?

Over the 10-year period, DBO has performed better with a 10.48% return vs 5.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PTMC or DBO?

PTMC is cheaper with a 0.60% expense ratio, compared with 0.78% for DBO.

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

DBO has the higher dividend yield at 1.99%, compared with 1.64% for PTMC.

What is the main difference between PTMC and DBO?

PTMC is categorized as Mid Cap Blend Equities, while DBO is Oil & Gas. PTMC tracks Pacer Trendpilot US Mid Cap 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: 0.60% for PTMC and 0.78% for DBO.

Which has better risk-adjusted returns?

DBO currently has the higher Sharpe Ratio (2.10 vs 1.13), 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.