SPTE vs. DBO

Last updated Jun 4, 2026

SPTE (SP Funds S&P Global Technology ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - SPTE is a Technology Equities fund tracking the S&P Global 1200 Shariah Information Technology Capped Index - Benchmark TR Gross, while DBO is a Oil & Gas fund tracking the DBIQ Optimum Yield Crude Oil Index Excess Return. Both are passively managed. Over the past year, SPTE returned 74.41% vs 80.26% for DBO. At a correlation of -0.02, they often move in opposite directions. SPTE charges 0.55%/yr vs 0.78%/yr for DBO.

Performance

SPTE vs. DBO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SP Funds S&P Global Technology ETF (SPTE) 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, SPTE achieves a 41.79% return, which is significantly lower than DBO's 84.75% return.

SPTE

• 1D: -1.21%
• 1M: 17.88%
• YTD: 41.79%
• 6M: 41.30%
• 1Y: 74.41%
• 3Y*: —
• 5Y*: —
• 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)

SPTE vs. DBO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SPTE SP Funds S&P Global Technology ETF	41.79%	26.37%	33.28%	5.24%
DBO Invesco DB Oil Fund	84.75%	-11.71%	7.85%	-4.69%

Correlation

The correlation between SPTE and DBO is -0.27, 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	-0.27
Correlation (All Time) Calculated using the full available price history since Dec 4, 2023	-0.02

Over the past year, the inverse relationship between SPTE and DBO has strengthened: their correlation has moved from -0.02 to -0.27, meaning they now move in opposite directions more often than their long-term average.

SPTE vs. DBO - Sectors Allocation Comparison

Sectors	SPTE	DBO
Technology	98.6%	-
Industrials	0.3%	-
Healthcare	0.2%	-
Energy	0.1%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	116.0%
Real Estate	-	-
Utilities	-	-

Return for Risk

SPTE vs. DBO — Risk / Return Rank

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

SPTE

SPTE Risk / Return Rank: 89
SPTE Sharpe Ratio Rank: 92
SPTE Sortino Ratio Rank: 89
SPTE Omega Ratio Rank: 85
SPTE Calmar Ratio Rank: 89
SPTE Martin Ratio Rank: 88

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.

SPTE vs. DBO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SP Funds S&P Global Technology ETF (SPTE) 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.

	SPTE	DBO	Difference
Sharpe ratio: Return per unit of total volatility	3.40	2.34	+1.06
Sortino ratio: Return per unit of downside risk	4.16	2.94	+1.23
Omega ratio: Gain probability vs. loss probability	1.53	1.38	+0.15
Calmar ratio: Return relative to maximum drawdown	5.42	4.44	+0.98
Martin ratio: Return relative to average drawdown	19.85	9.02	+10.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPTE vs. DBO - Sharpe Ratio Comparison

The current SPTE Sharpe Ratio is 3.40, which is higher than the DBO Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of SPTE 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

	SPTE	DBO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.40	2.34	+1.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.50	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.36	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.74	0.02	+1.72

Drawdowns

SPTE vs. DBO - Drawdown Comparison

The maximum SPTE drawdown since its inception was -25.55%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for SPTE and DBO.

Drawdown Indicators

	SPTE	DBO	Difference
Max Drawdown Largest peak-to-trough decline	-25.55%	-90.18%	+64.63%
Max Drawdown (1Y) Largest decline over 1 year	-13.80%	-18.19%	+4.39%
Max Drawdown (3Y) Largest decline over 3 years	—	-28.20%	—
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	-1.21%	-51.38%	+50.17%
Average Drawdown Average peak-to-trough decline	-4.06%	-62.25%	+58.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.76%	8.92%	-5.16%

Volatility

SPTE vs. DBO - Volatility Comparison

The current volatility for SP Funds S&P Global Technology ETF (SPTE) is 7.69%, while Invesco DB Oil Fund (DBO) has a volatility of 12.61%. This indicates that SPTE 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

	SPTE	DBO	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.69%	12.61%	-4.92%
Volatility (6M) Calculated over the trailing 6-month period	17.70%	28.20%	-10.50%
Volatility (1Y) Calculated over the trailing 1-year period	22.02%	34.46%	-12.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.82%	32.29%	-6.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.82%	31.78%	-5.96%

SPTE vs. DBO - Expense Ratio Comparison

SPTE has a 0.55% expense ratio, which is lower than DBO's 0.78% expense ratio.

Dividends

SPTE vs. DBO - Dividend Comparison

SPTE's dividend yield for the trailing twelve months is around 0.67%, 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%
SPTE SP Funds S&P Global Technology ETF	0.67%	0.96%	0.48%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPTE and DBO in my portfolio?

SPTE and DBO have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPTE or DBO?

DBO has higher volatility (12.61%) compared to SPTE (7.69%). In terms of maximum drawdown, SPTE dropped -25.55% vs DBO's -90.18%.

Which ETF is better, SPTE or DBO?

On 1-year performance, DBO leads with 80.26% vs 74.41% for SPTE. On fees, SPTE is cheaper at 0.55% per year. On volatility, SPTE has been the lower-risk option at 7.69%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPTE or DBO?

Over the 1-year period, DBO has performed better with a 80.26% return vs 74.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPTE or DBO?

SPTE is cheaper with a 0.55% expense ratio, compared with 0.78% for DBO.

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

DBO has the higher dividend yield at 1.90%, compared with 0.67% for SPTE.

What is the main difference between SPTE and DBO?

SPTE is categorized as Technology Equities, while DBO is Oil & Gas. SPTE tracks S&P Global 1200 Shariah Information Technology Capped Index - Benchmark TR Gross, while DBO tracks DBIQ Optimum Yield Crude Oil Index Excess Return. They also come from different issuers: SP Funds and Invesco. Their fees differ too: 0.55% for SPTE and 0.78% for DBO.

Which has better risk-adjusted returns?

SPTE currently has the higher Sharpe Ratio (3.40 vs 2.34), 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.