SIO vs. DBO
SIO (Touchstone Strategic Income Opportunities ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - SIO is a Multisector Bonds fund actively managed by Touchstone, while DBO is a Oil & Gas fund tracking the DBIQ Optimum Yield Crude Oil Index Excess Return. SIO is actively managed, while DBO is passively managed. Over the past 3 years, SIO returned 6.82%/yr vs 14.86%/yr for DBO. Their -0.11 correlation means they have often moved in opposite directions in the past. SIO charges 0.65%/yr vs 0.78%/yr for DBO.
Performance
SIO vs. DBO - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SIO achieves a 0.30% return, which is significantly lower than DBO's 76.48% return.
SIO
- 1D
- -0.16%
- 1M
- -1.05%
- 6M
- -0.38%
- YTD
- 0.30%
- 1Y
- 3.59%
- 3Y*
- 6.82%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 6.16%
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%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $11.01M | $10.23M | $13.95M | |
| $335.23K | $1.26M | $854.33K |
SIO vs. DBO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SIO Touchstone Strategic Income Opportunities ETF | 0.30% | 9.29% | 6.15% | 8.48% | 0.70% |
DBO Invesco DB Oil Fund | 76.48% | -11.71% | 7.85% | -4.44% | -9.79% |
Correlation
The correlation between SIO and DBO is -0.35, 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. | -0.35 |
Correlation (3Y) Balances recent behavior with more history. | -0.20 |
Correlation (All Time) Calculated using the full available price history since Jul 25, 2022 | -0.11 |
Over the past year, the inverse relationship between SIO and DBO has strengthened: their correlation has moved from -0.11 to -0.35, meaning they now move in opposite directions more often than their long-term average.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SIO vs. DBO — Risk / Return Rank
SIO
DBO
SIO vs. DBO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Touchstone Strategic Income Opportunities ETF (SIO) 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.
| SIO | DBO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.46 | ||
| Sortino ratioReturn per unit of downside risk | -0.60 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.25 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.56 | 2.01 | -0.45 |
| Martin ratioReturn relative to average drawdown | 4.28 | 6.09 | -1.81 |
Loading charts...
Drawdowns
SIO vs. DBO - Drawdown Comparison
The maximum SIO drawdown since its inception was -6.94%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for SIO and DBO.
Loading charts...
Drawdown Indicators
| SIO | DBO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.94% | -90.18% | +83.24% |
Max Drawdown (1Y)Largest decline over 1 year | -2.62% | -27.73% | +25.11% |
Max Drawdown (3Y)Largest decline over 3 years | -4.34% | -28.20% | +23.86% |
Max Drawdown (5Y)Largest decline over 5 years | — | -37.68% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -61.69% | — |
Current DrawdownCurrent decline from peak | -1.62% | -53.56% | +51.94% |
Average DrawdownAverage peak-to-trough decline | -1.24% | -62.20% | +60.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 9.96% | -9.01% |
Volatility
SIO vs. DBO - Volatility Comparison
The current volatility for Touchstone Strategic Income Opportunities ETF (SIO) is 1.01%, while Invesco DB Oil Fund (DBO) has a volatility of 17.75%. This indicates that SIO 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.
Loading charts...
Volatility by Period
| SIO | DBO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.01% | 17.75% | -16.74% |
Volatility (6M)Calculated over the trailing 6-month period | 2.72% | 33.77% | -31.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.15% | 38.53% | -34.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.95% | 33.35% | -28.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.95% | 32.20% | -27.25% |
SIO vs. DBO - Expense Ratio Comparison
SIO has a 0.65% expense ratio, which is lower than DBO's 0.78% expense ratio.
Dividends
SIO vs. DBO - Dividend Comparison
SIO's dividend yield for the trailing twelve months is around 7.06%, more 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% |
SIO Touchstone Strategic Income Opportunities ETF | 7.06% | 6.80% | 5.30% | 5.37% | 3.12% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SIO and DBO have a correlation of -0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBO has higher volatility (17.75%) compared to SIO (1.01%). In terms of maximum drawdown, SIO dropped -6.94% vs DBO's -90.18%.
On 3-year performance, DBO leads with 14.86% vs 6.82% for SIO. On fees, SIO is cheaper at 0.65% per year. On volatility, SIO has been the lower-risk option at 1.01%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, DBO has performed better with a 14.86% return vs 6.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SIO is cheaper with a 0.65% expense ratio, compared with 0.78% for DBO.
SIO has the higher dividend yield at 7.06%, compared with 1.99% for DBO.
SIO is categorized as Multisector Bonds, while DBO is Oil & Gas. They also come from different issuers: Touchstone and Invesco. Their fees differ too: 0.65% for SIO and 0.78% for DBO.
DBO currently has the higher Sharpe Ratio (1.45 vs 0.98), 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.
Find the right allocation for SIO and DBO
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer