SCHH vs. DBO

Last updated Jun 5, 2026

SCHH (Schwab US REIT ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - SCHH is a REIT fund tracking the Dow Jones Equity All REIT Capped 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 10 years, SCHH returned 4.28%/yr vs 10.89%/yr for DBO. At a 0.13 correlation, their price movements are largely independent. SCHH charges 0.07%/yr vs 0.78%/yr for DBO.

Performance

SCHH vs. DBO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab US REIT ETF (SCHH) 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, SCHH achieves a 12.96% return, which is significantly lower than DBO's 79.84% return. Over the past 10 years, SCHH has underperformed DBO with an annualized return of 4.28%, while DBO has yielded a comparatively higher 10.89% annualized return.

SCHH

• 1D: 1.69%
• 1M: 0.69%
• YTD: 12.96%
• 6M: 12.23%
• 1Y: 13.99%
• 3Y*: 10.72%
• 5Y*: 3.30%
• 10Y*: 4.28%

DBO

• 1D: -2.66%
• 1M: -3.39%
• YTD: 79.84%
• 6M: 74.51%
• 1Y: 77.38%
• 3Y*: 20.83%
• 5Y*: 15.36%
• 10Y*: 10.89%

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

SCHH vs. DBO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SCHH Schwab US REIT ETF	12.96%	2.20%	4.99%	11.18%	-24.99%	41.07%	-14.81%	22.85%	-4.26%	3.68%
DBO Invesco DB Oil Fund	79.84%	-11.71%	7.85%	-4.44%	13.04%	60.74%	-20.99%	28.05%	-15.22%	4.86%

Correlation

The correlation between SCHH and DBO is -0.17, 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	-0.17
Correlation (3Y) Calculated over the trailing 3-year period	-0.08
Correlation (5Y) Calculated over the trailing 5-year period	0.02
Correlation (10Y) Calculated over the trailing 10-year period	0.08
Correlation (All Time) Calculated using the full available price history since Jan 14, 2011	0.13

The correlation between SCHH and DBO shifts across timeframes, from -0.17 (1 year) to 0.13 (all time), reflecting how their relationship changes across market environments.

SCHH vs. DBO - Sectors Allocation Comparison

Sectors	SCHH	DBO
Real Estate	98.7%	-
Basic Materials	1.2%	-
Financial Services	0.1%	116.0%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Technology	-	-
Utilities	-	-

Return for Risk

SCHH vs. DBO — Risk / Return Rank

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

SCHH

SCHH Risk / Return Rank: 32
SCHH Sharpe Ratio Rank: 30
SCHH Sortino Ratio Rank: 29
SCHH Omega Ratio Rank: 29
SCHH Calmar Ratio Rank: 35
SCHH Martin Ratio Rank: 35

DBO

DBO Risk / Return Rank: 65
DBO Sharpe Ratio Rank: 70
DBO Sortino Ratio Rank: 62
DBO Omega Ratio Rank: 61
DBO Calmar Ratio Rank: 82
DBO Martin Ratio Rank: 52

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.

SCHH vs. DBO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab US REIT ETF (SCHH) 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.

	SCHH	DBO	Difference
Sharpe ratio: Return per unit of total volatility	1.06	2.25	-1.19
Sortino ratio: Return per unit of downside risk	1.50	2.85	-1.35
Omega ratio: Gain probability vs. loss probability	1.19	1.36	-0.17
Calmar ratio: Return relative to maximum drawdown	1.70	4.28	-2.58
Martin ratio: Return relative to average drawdown	5.34	8.69	-3.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SCHH vs. DBO - Sharpe Ratio Comparison

The current SCHH Sharpe Ratio is 1.06, which is lower than the DBO Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of SCHH 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

	SCHH	DBO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.06	2.25	-1.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.18	0.48	-0.30
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.20	0.34	-0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	0.02	+0.33

Drawdowns

SCHH vs. DBO - Drawdown Comparison

The maximum SCHH drawdown since its inception was -44.22%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for SCHH and DBO.

Drawdown Indicators

	SCHH	DBO	Difference
Max Drawdown Largest peak-to-trough decline	-44.22%	-90.18%	+45.96%
Max Drawdown (1Y) Largest decline over 1 year	-8.28%	-18.19%	+9.91%
Max Drawdown (3Y) Largest decline over 3 years	-17.76%	-28.20%	+10.44%
Max Drawdown (5Y) Largest decline over 5 years	-33.28%	-37.68%	+4.40%
Max Drawdown (10Y) Largest decline over 10 years	-44.22%	-61.69%	+17.47%
Current Drawdown Current decline from peak	-1.55%	-52.68%	+51.13%
Average Drawdown Average peak-to-trough decline	-9.45%	-62.25%	+52.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.63%	8.94%	-6.31%

Volatility

SCHH vs. DBO - Volatility Comparison

The current volatility for Schwab US REIT ETF (SCHH) is 4.17%, while Invesco DB Oil Fund (DBO) has a volatility of 12.79%. This indicates that SCHH 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

	SCHH	DBO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.17%	12.79%	-8.62%
Volatility (6M) Calculated over the trailing 6-month period	9.61%	28.32%	-18.71%
Volatility (1Y) Calculated over the trailing 1-year period	13.27%	34.58%	-21.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.72%	32.31%	-13.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.97%	31.79%	-10.82%

SCHH vs. DBO - Expense Ratio Comparison

SCHH has a 0.07% expense ratio, which is lower than DBO's 0.78% expense ratio.

Dividends

SCHH vs. DBO - Dividend Comparison

SCHH's dividend yield for the trailing twelve months is around 2.77%, more than DBO's 1.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DBO Invesco DB Oil Fund	1.95%	3.51%	4.68%	4.59%	0.66%	0.00%	0.00%	1.63%	1.58%	0.00%	0.00%	0.00%
SCHH Schwab US REIT ETF	2.77%	3.04%	3.22%	3.24%	2.55%	1.50%	2.86%	2.86%	3.64%	2.22%	2.81%	2.48%

Frequently Asked Questions

Can I hold both SCHH and DBO in my portfolio?

SCHH and DBO have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCHH or DBO?

DBO has higher volatility (12.79%) compared to SCHH (4.17%). In terms of maximum drawdown, SCHH dropped -44.22% vs DBO's -90.18%.

Which ETF is better, SCHH or DBO?

On 10-year performance, DBO leads with 10.89% vs 4.28% for SCHH. On fees, SCHH is cheaper at 0.07% per year. On volatility, SCHH has been the lower-risk option at 4.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SCHH or DBO?

Over the 10-year period, DBO has performed better with a 10.89% return vs 4.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SCHH or DBO?

SCHH is cheaper with a 0.07% expense ratio, compared with 0.78% for DBO.

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

SCHH has the higher dividend yield at 2.77%, compared with 1.95% for DBO.

What is the main difference between SCHH and DBO?

SCHH is categorized as REIT, while DBO is Oil & Gas. SCHH tracks Dow Jones Equity All REIT Capped Index, while DBO tracks DBIQ Optimum Yield Crude Oil Index Excess Return. They also come from different issuers: Charles Schwab and Invesco. Their fees differ too: 0.07% for SCHH and 0.78% for DBO.

Which has better risk-adjusted returns?

DBO currently has the higher Sharpe Ratio (2.25 vs 1.06), 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.