SCDS vs. DBO

Last updated Aug 2, 2026

SCDS (JPMorgan Fundamental Data Science Small Core ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - SCDS is a Small Cap Blend Equities fund actively managed by JPMorgan, while DBO is a Oil & Gas fund tracking the DBIQ Optimum Yield Crude Oil Index Excess Return. SCDS is actively managed, while DBO is passively managed. Over the past year, SCDS returned 40.88% vs 60.30% for DBO. Their -0.09 correlation means they have often moved in opposite directions in the past. SCDS charges 0.40%/yr vs 0.78%/yr for DBO.

Performance

SCDS vs. DBO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Fundamental Data Science Small Core ETF (SCDS) 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, SCDS achieves a 25.21% return, which is significantly lower than DBO's 76.48% return.

SCDS

• 1D: -0.35%
• 1M: -0.91%
• 6M: 17.80%
• YTD: 25.21%
• 1Y: 40.88%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 22.53%

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
SCDS JPMorgan Fundamental Data Science Small Core ETF	$154.38K	$83.77K	$106.90K

SCDS vs. DBO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SCDS JPMorgan Fundamental Data Science Small Core ETF	25.21%	11.27%	7.26%
DBO Invesco DB Oil Fund	76.48%	-11.71%	1.02%

Correlation

The correlation between SCDS and DBO is -0.24, 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.	-0.24
Correlation (All Time) Calculated using the full available price history since Aug 8, 2024	-0.09

The correlation between SCDS and DBO shifts across timeframes, from -0.24 (1 year) to -0.09 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SCDS vs. DBO — Risk / Return Rank

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

SCDS

SCDS Risk / Return Rank: 89
SCDS Sharpe Ratio Rank: 87
SCDS Sortino Ratio Rank: 88
SCDS Omega Ratio Rank: 84
SCDS Calmar Ratio Rank: 93
SCDS Martin Ratio Rank: 91

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.

SCDS vs. DBO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Fundamental Data Science Small Core ETF (SCDS) 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.

	SCDS	DBO	Difference
Sharpe ratio: Return per unit of total volatility	2.12	1.45	+0.67
Sortino ratio: Return per unit of downside risk	3.05	2.05	+0.99
Omega ratio: Gain probability vs. loss probability	1.36	1.25	+0.11
Calmar ratio: Return relative to maximum drawdown	4.39	2.01	+2.39
Martin ratio: Return relative to average drawdown	15.32	6.09	+9.23

SCDS vs. DBO - Sharpe Ratio Comparison

The current SCDS Sharpe Ratio is 2.12, which is higher than the DBO Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of SCDS 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

SCDS vs. DBO - Drawdown Comparison

The maximum SCDS drawdown since its inception was -26.71%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for SCDS and DBO.

Drawdown Indicators

	SCDS	DBO	Difference
Max Drawdown Largest peak-to-trough decline	-26.71%	-90.18%	+63.47%
Max Drawdown (1Y) Largest decline over 1 year	-8.85%	-27.73%	+18.88%
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	-2.37%	-53.56%	+51.19%
Average Drawdown Average peak-to-trough decline	-4.96%	-62.20%	+57.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.53%	9.96%	-7.43%

Volatility

SCDS vs. DBO - Volatility Comparison

The current volatility for JPMorgan Fundamental Data Science Small Core ETF (SCDS) is 3.72%, while Invesco DB Oil Fund (DBO) has a volatility of 17.75%. This indicates that SCDS 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

	SCDS	DBO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.72%	17.75%	-14.03%
Volatility (6M) Calculated over the trailing 6-month period	13.46%	33.77%	-20.31%
Volatility (1Y) Calculated over the trailing 1-year period	18.40%	38.53%	-20.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.86%	33.35%	-12.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.86%	32.20%	-11.34%

SCDS vs. DBO - Expense Ratio Comparison

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

Dividends

SCDS vs. DBO - Dividend Comparison

SCDS's dividend yield for the trailing twelve months is around 0.92%, 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%
SCDS JPMorgan Fundamental Data Science Small Core ETF	0.92%	1.15%	0.42%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SCDS and DBO in my portfolio?

SCDS and DBO have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCDS or DBO?

DBO has higher volatility (17.75%) compared to SCDS (3.72%). In terms of maximum drawdown, SCDS dropped -26.71% vs DBO's -90.18%.

Which ETF is better, SCDS or DBO?

On 1-year performance, DBO leads with 60.30% vs 40.88% for SCDS. On fees, SCDS is cheaper at 0.40% per year. On volatility, SCDS has been the lower-risk option at 3.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCDS or DBO?

Over the 1-year period, DBO has performed better with a 60.30% return vs 40.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCDS or DBO?

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

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

DBO has the higher dividend yield at 1.99%, compared with 0.92% for SCDS.

What is the main difference between SCDS and DBO?

SCDS is categorized as Small Cap Blend Equities, while DBO is Oil & Gas. They also come from different issuers: JPMorgan and Invesco. Their fees differ too: 0.40% for SCDS and 0.78% for DBO.

Which has better risk-adjusted returns?

SCDS currently has the higher Sharpe Ratio (2.12 vs 1.45), 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.