RDFI vs. DBO

Last updated Jun 3, 2026

RDFI (Rareview Dynamic Fixed Income ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - RDFI is a Multisector Bonds fund actively managed by Rareview Funds, while DBO is a Oil & Gas fund tracking the DBIQ Optimum Yield Crude Oil Index Excess Return. RDFI is actively managed, while DBO is passively managed. Over the past 5 years, RDFI returned 2.86%/yr vs 15.57%/yr for DBO. At a 0.04 correlation, their price movements are largely independent. RDFI charges 3.69%/yr vs 0.78%/yr for DBO.

Performance

RDFI vs. DBO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Rareview Dynamic Fixed Income ETF (RDFI) 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, RDFI achieves a 1.84% return, which is significantly lower than DBO's 80.66% return.

RDFI

• 1D: 0.06%
• 1M: -0.48%
• YTD: 1.84%
• 6M: 2.39%
• 1Y: 9.23%
• 3Y*: 10.67%
• 5Y*: 2.86%
• 10Y*: —

DBO

• 1D: 1.05%
• 1M: -0.09%
• YTD: 80.66%
• 6M: 78.46%
• 1Y: 78.18%
• 3Y*: 20.95%
• 5Y*: 15.57%
• 10Y*: 11.12%

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

RDFI vs. DBO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
RDFI Rareview Dynamic Fixed Income ETF	1.84%	9.83%	13.15%	8.57%	-17.06%	12.51%	8.65%
DBO Invesco DB Oil Fund	80.66%	-11.71%	7.85%	-4.44%	13.04%	60.74%	18.23%

Correlation

The correlation between RDFI and DBO is -0.33, 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	-0.33
Correlation (3Y) Calculated over the trailing 3-year period	-0.08
Correlation (5Y) Calculated over the trailing 5-year period	0.02
Correlation (All Time) Calculated using the full available price history since Oct 22, 2020	0.04

The correlation between RDFI and DBO shifts across timeframes, from -0.33 (1 year) to 0.04 (all time), reflecting how their relationship changes across market environments.

RDFI vs. DBO - Sectors Allocation Comparison

Sectors	RDFI	DBO
Financial Services	57.4%	116.0%
Energy	32.0%	-
Utilities	3.7%	-
Real Estate	2.2%	-
Industrials	2.0%	-
Technology	1.7%	-
Consumer Cyclical	0.4%	-
Basic Materials	0.3%	-
Communication Services	0.1%	-
Consumer Defensive	0.1%	-
Healthcare	0.0%	-

Return for Risk

RDFI vs. DBO — Risk / Return Rank

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

RDFI

RDFI Risk / Return Rank: 33
RDFI Sharpe Ratio Rank: 37
RDFI Sortino Ratio Rank: 35
RDFI Omega Ratio Rank: 40
RDFI Calmar Ratio Rank: 25
RDFI Martin Ratio Rank: 30

DBO

DBO Risk / Return Rank: 65
DBO Sharpe Ratio Rank: 68
DBO Sortino Ratio Rank: 61
DBO Omega Ratio Rank: 60
DBO Calmar Ratio Rank: 84
DBO Martin Ratio Rank: 54

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.

RDFI vs. DBO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Rareview Dynamic Fixed Income ETF (RDFI) 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.

	RDFI	DBO	Difference
Sharpe ratio Return per unit of total volatility	1.32	2.28	-0.96
Sortino ratio Return per unit of downside risk	1.84	2.88	-1.04
Omega ratio Gain probability vs. loss probability	1.27	1.37	-0.10
Calmar ratio Return relative to maximum drawdown	1.17	4.62	-3.45
Martin ratio Return relative to average drawdown	4.49	9.43	-4.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RDFI vs. DBO - Sharpe Ratio Comparison

The current RDFI Sharpe Ratio is 1.32, which is lower than the DBO Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of RDFI 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

	RDFI	DBO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.32	2.28	-0.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	0.49	-0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.35	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	0.02	+0.75

Drawdowns

RDFI vs. DBO - Drawdown Comparison

The maximum RDFI drawdown since its inception was -23.71%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for RDFI and DBO.

Drawdown Indicators

	RDFI	DBO	Difference
Max Drawdown Largest peak-to-trough decline	-23.71%	-90.18%	+66.47%
Max Drawdown (1Y) Largest decline over 1 year	-8.01%	-18.19%	+10.18%
Max Drawdown (3Y) Largest decline over 3 years	-10.41%	-28.20%	+17.79%
Max Drawdown (5Y) Largest decline over 5 years	-23.71%	-37.68%	+13.97%
Max Drawdown (10Y) Largest decline over 10 years	—	-61.69%	—
Current Drawdown Current decline from peak	-2.71%	-52.46%	+49.75%
Average Drawdown Average peak-to-trough decline	-7.21%	-62.25%	+55.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.09%	8.92%	-6.83%

Volatility

RDFI vs. DBO - Volatility Comparison

The current volatility for Rareview Dynamic Fixed Income ETF (RDFI) is 2.42%, while Invesco DB Oil Fund (DBO) has a volatility of 13.25%. This indicates that RDFI 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

	RDFI	DBO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.42%	13.25%	-10.83%
Volatility (6M) Calculated over the trailing 6-month period	6.23%	28.15%	-21.92%
Volatility (1Y) Calculated over the trailing 1-year period	7.02%	34.54%	-27.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.15%	32.28%	-24.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.96%	31.78%	-23.82%

RDFI vs. DBO - Expense Ratio Comparison

RDFI has a 3.69% expense ratio, which is higher than DBO's 0.78% expense ratio.

Dividends

RDFI vs. DBO - Dividend Comparison

RDFI's dividend yield for the trailing twelve months is around 8.98%, more than DBO's 1.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DBO Invesco DB Oil Fund	1.94%	3.51%	4.68%	4.59%	0.66%	0.00%	0.00%	1.63%	1.58%
RDFI Rareview Dynamic Fixed Income ETF	8.98%	8.17%	8.14%	7.38%	4.70%	6.78%	1.01%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RDFI and DBO in my portfolio?

RDFI and DBO have a correlation of -0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RDFI or DBO?

DBO has higher volatility (13.25%) compared to RDFI (2.42%). In terms of maximum drawdown, RDFI dropped -23.71% vs DBO's -90.18%.

Which ETF is better, RDFI or DBO?

On 5-year performance, DBO leads with 15.57% vs 2.86% for RDFI. On fees, DBO is cheaper at 0.78% per year. On volatility, RDFI has been the lower-risk option at 2.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RDFI or DBO?

Over the 5-year period, DBO has performed better with a 15.57% return vs 2.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RDFI or DBO?

DBO is cheaper with a 0.78% expense ratio, compared with 3.69% for RDFI.

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

RDFI has the higher dividend yield at 8.98%, compared with 1.94% for DBO.

What is the main difference between RDFI and DBO?

RDFI is categorized as Multisector Bonds, while DBO is Oil & Gas. They also come from different issuers: Rareview Funds and Invesco. Their fees differ too: 3.69% for RDFI and 0.78% for DBO.

Which has better risk-adjusted returns?

DBO currently has the higher Sharpe Ratio (2.28 vs 1.32), 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.