SIXS vs. DBO

Last updated Jun 4, 2026

SIXS (6 Meridian Small Cap Equity ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - SIXS is a Small 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. SIXS is actively managed, while DBO is passively managed. Over the past 5 years, SIXS returned 3.28%/yr vs 15.98%/yr for DBO. At a 0.18 correlation, their price movements are largely independent. SIXS charges 1.00%/yr vs 0.78%/yr for DBO.

Performance

SIXS vs. DBO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in 6 Meridian Small Cap Equity ETF (SIXS) 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, SIXS achieves a 5.36% return, which is significantly lower than DBO's 84.75% return.

SIXS

• 1D: -1.24%
• 1M: -2.88%
• YTD: 5.36%
• 6M: 6.16%
• 1Y: 16.34%
• 3Y*: 10.42%
• 5Y*: 3.28%
• 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)

SIXS vs. DBO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
SIXS 6 Meridian Small Cap Equity ETF	5.36%	4.59%	5.85%	14.92%	-18.52%	40.74%	43.41%
DBO Invesco DB Oil Fund	84.75%	-11.71%	7.85%	-4.44%	13.04%	60.74%	48.15%

Correlation

The correlation between SIXS and DBO is -0.21, 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	-0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.05
Correlation (5Y) Calculated over the trailing 5-year period	0.14
Correlation (All Time) Calculated using the full available price history since May 12, 2020	0.18

The correlation between SIXS and DBO shifts across timeframes, from -0.21 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.

SIXS vs. DBO - Sectors Allocation Comparison

Sectors	SIXS	DBO
Financial Services	23.0%	116.0%
Healthcare	16.2%	-
Utilities	12.1%	-
Consumer Defensive	10.8%	-
Real Estate	9.0%	-
Industrials	7.3%	-
Consumer Cyclical	6.4%	-
Communication Services	5.9%	-
Technology	5.7%	-
Energy	2.7%	-
Basic Materials	1.0%	-

Return for Risk

SIXS vs. DBO — Risk / Return Rank

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

SIXS

SIXS Risk / Return Rank: 38
SIXS Sharpe Ratio Rank: 34
SIXS Sortino Ratio Rank: 36
SIXS Omega Ratio Rank: 32
SIXS Calmar Ratio Rank: 47
SIXS Martin Ratio Rank: 42

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.

SIXS vs. DBO - Risk-Adjusted Trends Comparison

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

	SIXS	DBO	Difference
Sharpe ratio: Return per unit of total volatility	1.24	2.34	-1.11
Sortino ratio: Return per unit of downside risk	1.87	2.94	-1.06
Omega ratio: Gain probability vs. loss probability	1.22	1.38	-0.16
Calmar ratio: Return relative to maximum drawdown	2.29	4.44	-2.15
Martin ratio: Return relative to average drawdown	6.90	9.02	-2.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SIXS vs. DBO - Sharpe Ratio Comparison

The current SIXS Sharpe Ratio is 1.24, which is lower than the DBO Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of SIXS 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

	SIXS	DBO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.24	2.34	-1.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.19	0.50	-0.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.36	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	0.02	+0.69

Drawdowns

SIXS vs. DBO - Drawdown Comparison

The maximum SIXS drawdown since its inception was -27.68%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for SIXS and DBO.

Drawdown Indicators

	SIXS	DBO	Difference
Max Drawdown Largest peak-to-trough decline	-27.68%	-90.18%	+62.50%
Max Drawdown (1Y) Largest decline over 1 year	-7.16%	-18.19%	+11.03%
Max Drawdown (3Y) Largest decline over 3 years	-19.95%	-28.20%	+8.25%
Max Drawdown (5Y) Largest decline over 5 years	-27.68%	-37.68%	+10.00%
Max Drawdown (10Y) Largest decline over 10 years	—	-61.69%	—
Current Drawdown Current decline from peak	-4.19%	-51.38%	+47.19%
Average Drawdown Average peak-to-trough decline	-8.95%	-62.25%	+53.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.37%	8.92%	-6.55%

Volatility

SIXS vs. DBO - Volatility Comparison

The current volatility for 6 Meridian Small Cap Equity ETF (SIXS) is 3.53%, while Invesco DB Oil Fund (DBO) has a volatility of 12.61%. This indicates that SIXS 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

	SIXS	DBO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.53%	12.61%	-9.08%
Volatility (6M) Calculated over the trailing 6-month period	8.91%	28.20%	-19.29%
Volatility (1Y) Calculated over the trailing 1-year period	13.30%	34.46%	-21.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.63%	32.29%	-14.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.66%	31.78%	-12.12%

SIXS vs. DBO - Expense Ratio Comparison

SIXS has a 1.00% expense ratio, which is higher than DBO's 0.78% expense ratio.

Dividends

SIXS vs. DBO - Dividend Comparison

SIXS's dividend yield for the trailing twelve months is around 1.81%, less 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%
SIXS 6 Meridian Small Cap Equity ETF	1.81%	1.62%	1.09%	1.60%	1.37%	0.94%	0.45%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SIXS and DBO in my portfolio?

SIXS and DBO have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SIXS or DBO?

DBO has higher volatility (12.61%) compared to SIXS (3.53%). In terms of maximum drawdown, SIXS dropped -27.68% vs DBO's -90.18%.

Which ETF is better, SIXS or DBO?

On 5-year performance, DBO leads with 15.98% vs 3.28% for SIXS. On fees, DBO is cheaper at 0.78% per year. On volatility, SIXS has been the lower-risk option at 3.53%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SIXS or DBO?

Over the 5-year period, DBO has performed better with a 15.98% return vs 3.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SIXS or DBO?

DBO is cheaper with a 0.78% expense ratio, compared with 1.00% for SIXS.

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

DBO has the higher dividend yield at 1.90%, compared with 1.81% for SIXS.

What is the main difference between SIXS and DBO?

SIXS is categorized as Small Cap Blend Equities, while DBO is Oil & Gas. They also come from different issuers: Exchange Traded Concepts and Invesco. Their fees differ too: 1.00% for SIXS and 0.78% for DBO.

Which has better risk-adjusted returns?

DBO currently has the higher Sharpe Ratio (2.34 vs 1.24), 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.