QMID vs. DBO

Last updated Aug 2, 2026

QMID (WisdomTree U.S. MidCap Quality Growth Fund) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - QMID is a Quality Factor fund tracking the WisdomTree U.S. MidCap Quality Growth 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, QMID returned 10.41% vs 60.30% for DBO. Their -0.07 correlation means they have often moved in opposite directions in the past. QMID charges 0.38%/yr vs 0.78%/yr for DBO.

Performance

QMID vs. DBO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree U.S. MidCap Quality Growth Fund (QMID) 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, QMID achieves a 5.39% return, which is significantly lower than DBO's 76.48% return.

QMID

• 1D: -0.40%
• 1M: 0.96%
• 6M: 4.68%
• YTD: 5.39%
• 1Y: 10.41%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 7.76%

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%

*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	$11.01M	$10.23M	$13.95M
QMID WisdomTree U.S. MidCap Quality Growth Fund	$4.39K	$13.06K	$31.63K

QMID vs. DBO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QMID WisdomTree U.S. MidCap Quality Growth Fund	5.39%	5.02%	9.01%
DBO Invesco DB Oil Fund	76.48%	-11.71%	3.75%

Correlation

The correlation between QMID and DBO is -0.31, 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.	-0.31
Correlation (All Time) Calculated using the full available price history since Jan 25, 2024	-0.07

Over the past year, the inverse relationship between QMID and DBO has strengthened: their correlation has moved from -0.07 to -0.31, meaning they now move in opposite directions more often than their long-term average.

Return for Risk

QMID vs. DBO — Risk / Return Rank

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

QMID

QMID Risk / Return Rank: 26
QMID Sharpe Ratio Rank: 25
QMID Sortino Ratio Rank: 26
QMID Omega Ratio Rank: 23
QMID Calmar Ratio Rank: 26
QMID Martin Ratio Rank: 31

DBO

DBO Risk / Return Rank: 58
DBO Sharpe Ratio Rank: 62
DBO Sortino Ratio Rank: 61
DBO Omega Ratio Rank: 57
DBO Calmar Ratio Rank: 57
DBO Martin Ratio Rank: 52

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.

QMID vs. DBO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree U.S. MidCap Quality Growth Fund (QMID) 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.

	QMID	DBO	Difference
Sharpe ratio: Return per unit of total volatility	0.58	1.45	-0.87
Sortino ratio: Return per unit of downside risk	0.95	2.05	-1.10
Omega ratio: Gain probability vs. loss probability	1.11	1.25	-0.14
Calmar ratio: Return relative to maximum drawdown	0.82	2.01	-1.19
Martin ratio: Return relative to average drawdown	2.77	6.09	-3.32

QMID vs. DBO - Sharpe Ratio Comparison

The current QMID Sharpe Ratio is 0.58, which is lower than the DBO Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of QMID 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

QMID vs. DBO - Drawdown Comparison

The maximum QMID drawdown since its inception was -24.42%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for QMID and DBO.

Drawdown Indicators

	QMID	DBO	Difference
Max Drawdown Largest peak-to-trough decline	-24.42%	-90.18%	+65.76%
Max Drawdown (1Y) Largest decline over 1 year	-10.67%	-27.73%	+17.06%
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	-1.34%	-53.56%	+52.22%
Average Drawdown Average peak-to-trough decline	-5.22%	-62.20%	+56.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.15%	9.96%	-6.81%

Volatility

QMID vs. DBO - Volatility Comparison

The current volatility for WisdomTree U.S. MidCap Quality Growth Fund (QMID) is 3.78%, while Invesco DB Oil Fund (DBO) has a volatility of 17.75%. This indicates that QMID 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

	QMID	DBO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.78%	17.75%	-13.97%
Volatility (6M) Calculated over the trailing 6-month period	10.87%	33.77%	-22.90%
Volatility (1Y) Calculated over the trailing 1-year period	15.17%	38.53%	-23.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.23%	33.35%	-15.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.23%	32.20%	-13.97%

QMID vs. DBO - Expense Ratio Comparison

QMID has a 0.38% expense ratio, which is lower than DBO's 0.78% expense ratio.

Dividends

QMID vs. DBO - Dividend Comparison

QMID's dividend yield for the trailing twelve months is around 0.49%, less than DBO's 1.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DBO Invesco DB Oil Fund	1.99%	3.51%	4.68%	4.59%	0.66%	0.00%	0.00%	1.63%	1.58%
QMID WisdomTree U.S. MidCap Quality Growth Fund	0.49%	0.51%	1.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QMID and DBO in my portfolio?

QMID and DBO have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QMID or DBO?

DBO has higher volatility (17.75%) compared to QMID (3.78%). In terms of maximum drawdown, QMID dropped -24.42% vs DBO's -90.18%.

Which ETF is better, QMID or DBO?

On 1-year performance, DBO leads with 60.30% vs 10.41% for QMID. On fees, QMID is cheaper at 0.38% per year. On volatility, QMID has been the lower-risk option at 3.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QMID or DBO?

Over the 1-year period, DBO has performed better with a 60.30% return vs 10.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QMID or DBO?

QMID is cheaper with a 0.38% expense ratio, compared with 0.78% for DBO.

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

DBO has the higher dividend yield at 1.99%, compared with 0.49% for QMID.

What is the main difference between QMID and DBO?

QMID is categorized as Quality Factor, while DBO is Oil & Gas. QMID tracks WisdomTree U.S. MidCap Quality Growth Index, while DBO tracks DBIQ Optimum Yield Crude Oil Index Excess Return. They also come from different issuers: WisdomTree and Invesco. Their fees differ too: 0.38% for QMID and 0.78% for DBO.

Which has better risk-adjusted returns?

DBO currently has the higher Sharpe Ratio (1.45 vs 0.58), 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.