SGLC vs. DBO

Last updated Jun 5, 2026

SGLC (SGI U.S. Large Cap Core ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - SGLC is a Large Cap Blend Equities fund actively managed by Summit Global Investments, while DBO is a Oil & Gas fund tracking the DBIQ Optimum Yield Crude Oil Index Excess Return. SGLC is actively managed, while DBO is passively managed. Over the past 3 years, SGLC returned 22.49%/yr vs 20.83%/yr for DBO. At a correlation of -0.02, they often move in opposite directions. SGLC charges 0.85%/yr vs 0.78%/yr for DBO.

Performance

SGLC vs. DBO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SGI U.S. Large Cap Core ETF (SGLC) 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, SGLC achieves a 14.85% return, which is significantly lower than DBO's 79.84% return.

SGLC

• 1D: 0.35%
• 1M: 5.34%
• YTD: 14.85%
• 6M: 16.84%
• 1Y: 33.91%
• 3Y*: 22.49%
• 5Y*: —
• 10Y*: —

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)

SGLC vs. DBO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SGLC SGI U.S. Large Cap Core ETF	14.85%	17.30%	20.19%	18.93%
DBO Invesco DB Oil Fund	79.84%	-11.71%	7.85%	-0.25%

Correlation

The correlation between SGLC and DBO is -0.29, 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	-0.29
Correlation (3Y) Calculated over the trailing 3-year period	-0.04
Correlation (All Time) Calculated using the full available price history since Apr 3, 2023	-0.02

Over the past year, the inverse relationship between SGLC and DBO has strengthened: their correlation has moved from -0.02 to -0.29, meaning they now move in opposite directions more often than their long-term average.

SGLC vs. DBO - Sectors Allocation Comparison

Sectors	SGLC	DBO
Technology	32.4%	-
Financial Services	14.9%	116.0%
Communication Services	11.2%	-
Consumer Cyclical	10.1%	-
Healthcare	9.9%	-
Industrials	6.5%	-
Consumer Defensive	5.4%	-
Basic Materials	3.1%	-
Energy	2.9%	-
Real Estate	2.5%	-
Utilities	1.2%	-

Return for Risk

SGLC vs. DBO — Risk / Return Rank

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

SGLC

SGLC Risk / Return Rank: 77
SGLC Sharpe Ratio Rank: 79
SGLC Sortino Ratio Rank: 75
SGLC Omega Ratio Rank: 77
SGLC Calmar Ratio Rank: 72
SGLC Martin Ratio Rank: 81

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.

SGLC vs. DBO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SGI U.S. Large Cap Core ETF (SGLC) 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.

	SGLC	DBO	Difference
Sharpe ratio: Return per unit of total volatility	2.53	2.25	+0.27
Sortino ratio: Return per unit of downside risk	3.32	2.85	+0.47
Omega ratio: Gain probability vs. loss probability	1.45	1.36	+0.09
Calmar ratio: Return relative to maximum drawdown	3.52	4.28	-0.75
Martin ratio: Return relative to average drawdown	15.67	8.69	+6.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SGLC vs. DBO - Sharpe Ratio Comparison

The current SGLC Sharpe Ratio is 2.53, which is comparable to the DBO Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of SGLC 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

	SGLC	DBO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.53	2.25	+0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.48	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.34	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.44	0.02	+1.42

Drawdowns

SGLC vs. DBO - Drawdown Comparison

The maximum SGLC drawdown since its inception was -20.24%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for SGLC and DBO.

Drawdown Indicators

	SGLC	DBO	Difference
Max Drawdown Largest peak-to-trough decline	-20.24%	-90.18%	+69.94%
Max Drawdown (1Y) Largest decline over 1 year	-9.67%	-18.19%	+8.52%
Max Drawdown (3Y) Largest decline over 3 years	-20.24%	-28.20%	+7.96%
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	-0.08%	-52.68%	+52.60%
Average Drawdown Average peak-to-trough decline	-2.45%	-62.25%	+59.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.17%	8.94%	-6.77%

Volatility

SGLC vs. DBO - Volatility Comparison

The current volatility for SGI U.S. Large Cap Core ETF (SGLC) is 3.26%, while Invesco DB Oil Fund (DBO) has a volatility of 12.79%. This indicates that SGLC 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

	SGLC	DBO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.26%	12.79%	-9.53%
Volatility (6M) Calculated over the trailing 6-month period	11.04%	28.32%	-17.28%
Volatility (1Y) Calculated over the trailing 1-year period	13.49%	34.58%	-21.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.03%	32.31%	-16.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.03%	31.79%	-15.76%

SGLC vs. DBO - Expense Ratio Comparison

SGLC has a 0.85% expense ratio, which is higher than DBO's 0.78% expense ratio.

Dividends

SGLC vs. DBO - Dividend Comparison

SGLC's dividend yield for the trailing twelve months is around 0.20%, less than DBO's 1.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DBO Invesco DB Oil Fund	1.95%	3.51%	4.68%	4.59%	0.66%	0.00%	0.00%	1.63%	1.58%
SGLC SGI U.S. Large Cap Core ETF	0.20%	0.23%	8.68%	1.49%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SGLC and DBO in my portfolio?

SGLC and DBO have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SGLC or DBO?

DBO has higher volatility (12.79%) compared to SGLC (3.26%). In terms of maximum drawdown, SGLC dropped -20.24% vs DBO's -90.18%.

Which ETF is better, SGLC or DBO?

On 3-year performance, SGLC leads with 22.49% vs 20.83% for DBO. On fees, DBO is cheaper at 0.78% per year. On volatility, SGLC has been the lower-risk option at 3.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SGLC or DBO?

Over the 3-year period, SGLC has performed better with a 22.49% return vs 20.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SGLC or DBO?

DBO is cheaper with a 0.78% expense ratio, compared with 0.85% for SGLC.

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

DBO has the higher dividend yield at 1.95%, compared with 0.20% for SGLC.

What is the main difference between SGLC and DBO?

SGLC is categorized as Large Cap Blend Equities, while DBO is Oil & Gas. They also come from different issuers: Summit Global Investments and Invesco. Their fees differ too: 0.85% for SGLC and 0.78% for DBO.

Which has better risk-adjusted returns?

SGLC currently has the higher Sharpe Ratio (2.52 vs 2.25), 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.