RZG vs. DBO
RZG (Invesco S&P SmallCap 600® Pure Growth ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - RZG is a Small Cap Growth Equities fund tracking the S&P Small Cap 600 Pure Growth, 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, RZG returned 9.98%/yr vs 11.43%/yr for DBO. Their 0.26 correlation means their historical movements had little consistent relationship. RZG charges 0.35%/yr vs 0.78%/yr for DBO.
Performance
RZG vs. DBO - Performance Comparison
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Returns By Period
In the year-to-date period, RZG achieves a 28.77% return, which is significantly lower than DBO's 66.72% return. Over the past 10 years, RZG has underperformed DBO with an annualized return of 9.98%, while DBO has yielded a comparatively higher 11.43% annualized return.
RZG
- 1D
- 1.96%
- 1M
- -2.46%
- 6M
- 20.37%
- YTD
- 28.77%
- 1Y
- 39.31%
- 3Y*
- 18.12%
- 5Y*
- 6.22%
- 10Y*
- 9.98%
- ALL TIME*
- 9.31%
DBO
- 1D
- -5.53%
- 1M
- 17.71%
- 6M
- 53.16%
- YTD
- 66.72%
- 1Y
- 51.44%
- 3Y*
- 12.33%
- 5Y*
- 13.64%
- 10Y*
- 11.43%
- ALL TIME*
- 0.22%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $11.34M | $10.71M | $13.49M | |
| $1.14M | $1.62M | $1.03M |
RZG vs. DBO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RZG Invesco S&P SmallCap 600® Pure Growth ETF | 28.77% | 10.22% | 9.84% | 19.15% | -29.00% | 21.01% | 17.76% | 14.25% | -8.70% | 19.18% |
DBO Invesco DB Oil Fund | 66.72% | -11.71% | 7.85% | -4.44% | 13.04% | 60.74% | -20.99% | 28.05% | -15.22% | 4.86% |
Correlation
The correlation between RZG 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 (3Y) Balances recent behavior with more history. | -0.04 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.10 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.18 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 2007 | 0.26 |
The correlation between RZG and DBO shifts across timeframes, from -0.31 (1 year) to 0.26 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
RZG vs. DBO — Risk / Return Rank
RZG
DBO
RZG vs. DBO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap 600® Pure Growth ETF (RZG) 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.
| RZG | DBO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.72 | ||
| Sortino ratioReturn per unit of downside risk | +1.10 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.23 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 4.58 | 1.86 | +2.71 |
| Martin ratioReturn relative to average drawdown | 14.18 | 5.64 | +8.54 |
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Drawdowns
RZG vs. DBO - Drawdown Comparison
The maximum RZG drawdown since its inception was -58.52%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for RZG and DBO.
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Drawdown Indicators
| RZG | DBO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.52% | -90.18% | +31.66% |
Max Drawdown (1Y)Largest decline over 1 year | -8.63% | -27.73% | +19.10% |
Max Drawdown (3Y)Largest decline over 3 years | -25.73% | -28.20% | +2.47% |
Max Drawdown (5Y)Largest decline over 5 years | -38.33% | -37.68% | -0.65% |
Max Drawdown (10Y)Largest decline over 10 years | -54.02% | -61.69% | +7.67% |
Current DrawdownCurrent decline from peak | -3.99% | -56.13% | +52.14% |
Average DrawdownAverage peak-to-trough decline | -12.04% | -62.20% | +50.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.78% | 9.16% | -6.38% |
Volatility
RZG vs. DBO - Volatility Comparison
The current volatility for Invesco S&P SmallCap 600® Pure Growth ETF (RZG) is 6.10%, while Invesco DB Oil Fund (DBO) has a volatility of 18.99%. This indicates that RZG 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.
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Volatility by Period
| RZG | DBO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.10% | 18.99% | -12.89% |
Volatility (6M)Calculated over the trailing 6-month period | 14.80% | 34.30% | -19.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.32% | 38.86% | -19.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.05% | 33.43% | -10.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.66% | 32.24% | -7.58% |
RZG vs. DBO - Expense Ratio Comparison
RZG has a 0.35% expense ratio, which is lower than DBO's 0.78% expense ratio.
Dividends
RZG vs. DBO - Dividend Comparison
RZG's dividend yield for the trailing twelve months is around 0.44%, less than DBO's 2.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBO Invesco DB Oil Fund | 2.11% | 3.51% | 4.68% | 4.59% | 0.66% | 0.00% | 0.00% | 1.63% | 1.58% | 0.00% | 0.00% | 0.00% |
RZG Invesco S&P SmallCap 600® Pure Growth ETF | 0.44% | 0.37% | 0.95% | 1.43% | 1.59% | 0.22% | 0.49% | 0.70% | 0.46% | 0.44% | 0.65% | 0.70% |
Frequently Asked Questions
RZG 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.
DBO has higher volatility (18.99%) compared to RZG (6.10%). In terms of maximum drawdown, RZG dropped -58.52% vs DBO's -90.18%.
On 10-year performance, DBO leads with 11.43% vs 9.98% for RZG. On fees, RZG is cheaper at 0.35% per year. On volatility, RZG has been the lower-risk option at 6.10%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DBO has performed better with a 11.43% return vs 9.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RZG is cheaper with a 0.35% expense ratio, compared with 0.78% for DBO.
DBO has the higher dividend yield at 2.11%, compared with 0.44% for RZG.
RZG is categorized as Small Cap Growth Equities, while DBO is Oil & Gas. RZG tracks S&P Small Cap 600 Pure Growth, while DBO tracks DBIQ Optimum Yield Crude Oil Index Excess Return. Their fees differ too: 0.35% for RZG and 0.78% for DBO.
RZG currently has the higher Sharpe Ratio (2.05 vs 1.33), 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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