RSPC vs. DBO

Last updated Jun 3, 2026

RSPC (Invesco S&P 500 Equal Weight Communication Services ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - RSPC is a Communications Equities fund tracking the S&P 500 Equal Weight Communication Services Plus 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, RSPC returned 0.54%/yr vs 15.57%/yr for DBO. At a 0.18 correlation, their price movements are largely independent. RSPC charges 0.40%/yr vs 0.78%/yr for DBO.

Performance

RSPC vs. DBO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 Equal Weight Communication Services ETF (RSPC) 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, RSPC achieves a -5.64% return, which is significantly lower than DBO's 80.66% return.

RSPC

• 1D: -1.68%
• 1M: -2.04%
• YTD: -5.64%
• 6M: -2.98%
• 1Y: 5.03%
• 3Y*: 12.63%
• 5Y*: 0.54%
• 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)

RSPC vs. DBO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
RSPC Invesco S&P 500 Equal Weight Communication Services ETF	-5.64%	18.44%	17.98%	17.92%	-29.00%	14.55%	22.14%	21.35%	-11.38%
DBO Invesco DB Oil Fund	80.66%	-11.71%	7.85%	-4.44%	13.04%	60.74%	-20.99%	28.05%	-18.74%

Correlation

The correlation between RSPC and DBO is -0.14, 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	-0.14
Correlation (3Y) Calculated over the trailing 3-year period	-0.02
Correlation (5Y) Calculated over the trailing 5-year period	0.09
Correlation (All Time) Calculated using the full available price history since Nov 15, 2018	0.18

The correlation between RSPC and DBO shifts across timeframes, from -0.14 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.

RSPC vs. DBO - Sectors Allocation Comparison

Sectors	RSPC	DBO
Communication Services	94.8%	-
Technology	5.1%	-
Financial Services	0.0%	116.0%
Basic Materials	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

RSPC vs. DBO — Risk / Return Rank

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

RSPC

RSPC Risk / Return Rank: 14
RSPC Sharpe Ratio Rank: 14
RSPC Sortino Ratio Rank: 14
RSPC Omega Ratio Rank: 14
RSPC Calmar Ratio Rank: 14
RSPC Martin Ratio Rank: 13

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.

RSPC vs. DBO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 Equal Weight Communication Services ETF (RSPC) 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.

	RSPC	DBO	Difference
Sharpe ratio Return per unit of total volatility	0.37	2.28	-1.91
Sortino ratio Return per unit of downside risk	0.62	2.88	-2.26
Omega ratio Gain probability vs. loss probability	1.07	1.37	-0.30
Calmar ratio Return relative to maximum drawdown	0.45	4.62	-4.17
Martin ratio Return relative to average drawdown	0.95	9.43	-8.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RSPC vs. DBO - Sharpe Ratio Comparison

The current RSPC Sharpe Ratio is 0.37, which is lower than the DBO Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of RSPC 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

	RSPC	DBO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.37	2.28	-1.91
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.03	0.49	-0.46
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.35	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	0.02	+0.32

Drawdowns

RSPC vs. DBO - Drawdown Comparison

The maximum RSPC drawdown since its inception was -38.03%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for RSPC and DBO.

Drawdown Indicators

	RSPC	DBO	Difference
Max Drawdown Largest peak-to-trough decline	-38.03%	-90.18%	+52.15%
Max Drawdown (1Y) Largest decline over 1 year	-10.92%	-18.19%	+7.27%
Max Drawdown (3Y) Largest decline over 3 years	-14.06%	-28.20%	+14.14%
Max Drawdown (5Y) Largest decline over 5 years	-37.96%	-37.68%	-0.28%
Max Drawdown (10Y) Largest decline over 10 years	—	-61.69%	—
Current Drawdown Current decline from peak	-8.55%	-52.46%	+43.91%
Average Drawdown Average peak-to-trough decline	-12.71%	-62.25%	+49.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.22%	8.92%	-3.70%

Volatility

RSPC vs. DBO - Volatility Comparison

The current volatility for Invesco S&P 500 Equal Weight Communication Services ETF (RSPC) is 3.53%, while Invesco DB Oil Fund (DBO) has a volatility of 13.25%. This indicates that RSPC 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

	RSPC	DBO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.53%	13.25%	-9.72%
Volatility (6M) Calculated over the trailing 6-month period	9.07%	28.15%	-19.08%
Volatility (1Y) Calculated over the trailing 1-year period	13.54%	34.54%	-21.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.54%	32.28%	-13.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.77%	31.78%	-11.01%

RSPC vs. DBO - Expense Ratio Comparison

RSPC has a 0.40% expense ratio, which is lower than DBO's 0.78% expense ratio.

Dividends

RSPC vs. DBO - Dividend Comparison

RSPC's dividend yield for the trailing twelve months is around 1.72%, less 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%
RSPC Invesco S&P 500 Equal Weight Communication Services ETF	1.72%	1.66%	1.03%	0.98%	1.45%	1.10%	1.05%	0.90%	0.24%

Frequently Asked Questions

Can I hold both RSPC and DBO in my portfolio?

RSPC and DBO have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RSPC or DBO?

DBO has higher volatility (13.25%) compared to RSPC (3.53%). In terms of maximum drawdown, RSPC dropped -38.03% vs DBO's -90.18%.

Which ETF is better, RSPC or DBO?

On 5-year performance, DBO leads with 15.57% vs 0.54% for RSPC. On fees, RSPC is cheaper at 0.40% per year. On volatility, RSPC has been the lower-risk option at 3.53%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RSPC or DBO?

Over the 5-year period, DBO has performed better with a 15.57% return vs 0.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RSPC or DBO?

RSPC is cheaper with a 0.40% expense ratio, compared with 0.78% for DBO.

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

DBO has the higher dividend yield at 1.94%, compared with 1.72% for RSPC.

What is the main difference between RSPC and DBO?

RSPC is categorized as Communications Equities, while DBO is Oil & Gas. RSPC tracks S&P 500 Equal Weight Communication Services Plus Index, while DBO tracks DBIQ Optimum Yield Crude Oil Index Excess Return. Their fees differ too: 0.40% for RSPC and 0.78% for DBO.

Which has better risk-adjusted returns?

DBO currently has the higher Sharpe Ratio (2.28 vs 0.37), 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.