SIXA vs. DBO

Last updated Jun 4, 2026

SIXA (6 Meridian Mega Cap Equity ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - SIXA is a Large Cap Blend Equities fund actively managed by Exchange Traded Concepts, while DBO is a Oil & Gas fund tracking the DBIQ Optimum Yield Crude Oil Index Excess Return. SIXA is actively managed, while DBO is passively managed. Over the past 5 years, SIXA returned 12.50%/yr vs 15.98%/yr for DBO. At a 0.18 correlation, their price movements are largely independent. SIXA charges 0.86%/yr vs 0.78%/yr for DBO.

Performance

SIXA vs. DBO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 6 Meridian Mega Cap Equity ETF (SIXA) 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, SIXA achieves a 11.89% return, which is significantly lower than DBO's 84.75% return.

SIXA

• 1D: -0.09%
• 1M: 2.40%
• YTD: 11.89%
• 6M: 12.48%
• 1Y: 18.71%
• 3Y*: 20.65%
• 5Y*: 12.50%
• 10Y*: —

DBO

• 1D: 2.27%
• 1M: -2.34%
• YTD: 84.75%
• 6M: 81.10%
• 1Y: 80.26%
• 3Y*: 21.86%
• 5Y*: 15.98%
• 10Y*: 11.37%

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

SIXA vs. DBO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
SIXA 6 Meridian Mega Cap Equity ETF	11.89%	15.52%	22.70%	11.98%	-5.72%	23.87%	18.45%
DBO Invesco DB Oil Fund	84.75%	-11.71%	7.85%	-4.44%	13.04%	60.74%	48.15%

Correlation

The correlation between SIXA 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	-0.00
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (All Time) Calculated using the full available price history since May 12, 2020	0.18

The correlation between SIXA and DBO shifts across timeframes, from -0.17 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.

SIXA vs. DBO - Sectors Allocation Comparison

Sectors	SIXA	DBO
Consumer Defensive	23.8%	-
Technology	19.7%	-
Communication Services	13.4%	-
Healthcare	12.7%	-
Financial Services	9.6%	116.0%
Industrials	7.8%	-
Consumer Cyclical	6.7%	-
Utilities	5.0%	-
Energy	3.1%	-
Real Estate	1.4%	-
Basic Materials	-	-

Return for Risk

SIXA vs. DBO — Risk / Return Rank

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

SIXA

SIXA Risk / Return Rank: 65
SIXA Sharpe Ratio Rank: 62
SIXA Sortino Ratio Rank: 68
SIXA Omega Ratio Rank: 60
SIXA Calmar Ratio Rank: 68
SIXA Martin Ratio Rank: 69

DBO

DBO Risk / Return Rank: 65
DBO Sharpe Ratio Rank: 70
DBO Sortino Ratio Rank: 62
DBO Omega Ratio Rank: 60
DBO Calmar Ratio Rank: 83
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.

SIXA vs. DBO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for 6 Meridian Mega Cap Equity ETF (SIXA) 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.

	SIXA	DBO	Difference
Sharpe ratio: Return per unit of total volatility	2.10	2.34	-0.24
Sortino ratio: Return per unit of downside risk	3.14	2.94	+0.20
Omega ratio: Gain probability vs. loss probability	1.37	1.38	-0.01
Calmar ratio: Return relative to maximum drawdown	3.36	4.44	-1.07
Martin ratio: Return relative to average drawdown	12.75	9.02	+3.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SIXA vs. DBO - Sharpe Ratio Comparison

The current SIXA Sharpe Ratio is 2.10, which is comparable to the DBO Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of SIXA 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

	SIXA	DBO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.10	2.34	-0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.98	0.50	+0.48
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.36	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.20	0.02	+1.18

Drawdowns

SIXA vs. DBO - Drawdown Comparison

The maximum SIXA drawdown since its inception was -18.38%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for SIXA and DBO.

Drawdown Indicators

	SIXA	DBO	Difference
Max Drawdown Largest peak-to-trough decline	-18.38%	-90.18%	+71.80%
Max Drawdown (1Y) Largest decline over 1 year	-5.59%	-18.19%	+12.60%
Max Drawdown (3Y) Largest decline over 3 years	-11.22%	-28.20%	+16.98%
Max Drawdown (5Y) Largest decline over 5 years	-18.38%	-37.68%	+19.30%
Max Drawdown (10Y) Largest decline over 10 years	—	-61.69%	—
Current Drawdown Current decline from peak	-0.84%	-51.38%	+50.54%
Average Drawdown Average peak-to-trough decline	-3.00%	-62.25%	+59.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.47%	8.92%	-7.45%

Volatility

SIXA vs. DBO - Volatility Comparison

The current volatility for 6 Meridian Mega Cap Equity ETF (SIXA) is 2.56%, while Invesco DB Oil Fund (DBO) has a volatility of 12.61%. This indicates that SIXA 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

	SIXA	DBO	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.56%	12.61%	-10.05%
Volatility (6M) Calculated over the trailing 6-month period	6.76%	28.20%	-21.44%
Volatility (1Y) Calculated over the trailing 1-year period	8.94%	34.46%	-25.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.80%	32.29%	-19.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.36%	31.78%	-18.42%

SIXA vs. DBO - Expense Ratio Comparison

SIXA has a 0.86% expense ratio, which is higher than DBO's 0.78% expense ratio.

Dividends

SIXA vs. DBO - Dividend Comparison

SIXA's dividend yield for the trailing twelve months is around 2.01%, more than DBO's 1.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DBO Invesco DB Oil Fund	1.90%	3.51%	4.68%	4.59%	0.66%	0.00%	0.00%	1.63%	1.58%
SIXA 6 Meridian Mega Cap Equity ETF	2.01%	2.31%	1.62%	2.12%	2.23%	1.63%	1.13%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SIXA and DBO in my portfolio?

SIXA 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, SIXA or DBO?

DBO has higher volatility (12.61%) compared to SIXA (2.56%). In terms of maximum drawdown, SIXA dropped -18.38% vs DBO's -90.18%.

Which ETF is better, SIXA or DBO?

On 5-year performance, DBO leads with 15.98% vs 12.50% for SIXA. On fees, DBO is cheaper at 0.78% per year. On volatility, SIXA has been the lower-risk option at 2.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SIXA or DBO?

Over the 5-year period, DBO has performed better with a 15.98% return vs 12.50%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SIXA or DBO?

DBO is cheaper with a 0.78% expense ratio, compared with 0.86% for SIXA.

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

SIXA has the higher dividend yield at 2.01%, compared with 1.90% for DBO.

What is the main difference between SIXA and DBO?

SIXA is categorized as Large Cap Blend Equities, while DBO is Oil & Gas. They also come from different issuers: Exchange Traded Concepts and Invesco. Their fees differ too: 0.86% for SIXA and 0.78% for DBO.

Which has better risk-adjusted returns?

DBO currently has the higher Sharpe Ratio (2.34 vs 2.10), 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.