TARK vs. DBO

Last updated Jun 3, 2026

TARK (Tradr 2X Long Innovation ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - TARK is a Leveraged Equities fund actively managed by AXS, while DBO is a Oil & Gas fund tracking the DBIQ Optimum Yield Crude Oil Index Excess Return. TARK is actively managed, while DBO is passively managed. Over the past 3 years, TARK returned 22.58%/yr vs 20.95%/yr for DBO. At a 0.04 correlation, their price movements are largely independent. TARK charges 1.15%/yr vs 0.78%/yr for DBO.

Performance

TARK vs. DBO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Long Innovation ETF (TARK) 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, TARK achieves a -1.67% return, which is significantly lower than DBO's 80.66% return.

TARK

• 1D: -3.51%
• 1M: 6.42%
• YTD: -1.67%
• 6M: -5.56%
• 1Y: 58.98%
• 3Y*: 22.58%
• 5Y*: —
• 10Y*: —

DBO

• 1D: 1.05%
• 1M: -0.09%
• YTD: 80.66%
• 6M: 78.46%
• 1Y: 78.18%
• 3Y*: 20.95%
• 5Y*: 15.57%
• 10Y*: 11.12%

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

TARK vs. DBO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
TARK Tradr 2X Long Innovation ETF	-1.67%	41.00%	-4.85%	121.37%	-73.35%
DBO Invesco DB Oil Fund	80.66%	-11.71%	7.85%	-4.44%	-15.23%

Correlation

The correlation between TARK 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	-0.02
Correlation (All Time) Calculated using the full available price history since May 3, 2022	0.04

The correlation between TARK and DBO shifts across timeframes, from -0.17 (1 year) to 0.04 (all time), reflecting how their relationship changes across market environments.

Return for Risk

TARK vs. DBO — Risk / Return Rank

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

TARK

TARK Risk / Return Rank: 24
TARK Sharpe Ratio Rank: 24
TARK Sortino Ratio Rank: 28
TARK Omega Ratio Rank: 26
TARK Calmar Ratio Rank: 24
TARK Martin Ratio Rank: 19

DBO

DBO Risk / Return Rank: 65
DBO Sharpe Ratio Rank: 68
DBO Sortino Ratio Rank: 61
DBO Omega Ratio Rank: 60
DBO Calmar Ratio Rank: 84
DBO Martin Ratio Rank: 54

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.

TARK vs. DBO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Long Innovation ETF (TARK) 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.

	TARK	DBO	Difference
Sharpe ratio Return per unit of total volatility	0.83	2.28	-1.46
Sortino ratio Return per unit of downside risk	1.50	2.88	-1.38
Omega ratio Gain probability vs. loss probability	1.17	1.37	-0.19
Calmar ratio Return relative to maximum drawdown	1.11	4.62	-3.51
Martin ratio Return relative to average drawdown	2.19	9.43	-7.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TARK vs. DBO - Sharpe Ratio Comparison

The current TARK Sharpe Ratio is 0.83, which is lower than the DBO Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of TARK 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

	TARK	DBO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.83	2.28	-1.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.49	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.35	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.07	0.02	-0.08

Drawdowns

TARK vs. DBO - Drawdown Comparison

The maximum TARK drawdown since its inception was -77.82%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for TARK and DBO.

Drawdown Indicators

	TARK	DBO	Difference
Max Drawdown Largest peak-to-trough decline	-77.82%	-90.18%	+12.36%
Max Drawdown (1Y) Largest decline over 1 year	-57.57%	-18.19%	-39.38%
Max Drawdown (3Y) Largest decline over 3 years	-65.55%	-28.20%	-37.35%
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	-35.30%	-52.46%	+17.16%
Average Drawdown Average peak-to-trough decline	-51.00%	-62.25%	+11.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	29.21%	8.92%	+20.29%

Volatility

TARK vs. DBO - Volatility Comparison

Tradr 2X Long Innovation ETF (TARK) has a higher volatility of 17.93% compared to Invesco DB Oil Fund (DBO) at 13.25%. This indicates that TARK's price experiences larger fluctuations and is considered to be riskier than DBO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TARK	DBO	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.93%	13.25%	+4.68%
Volatility (6M) Calculated over the trailing 6-month period	50.05%	28.15%	+21.90%
Volatility (1Y) Calculated over the trailing 1-year period	71.71%	34.54%	+37.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	90.60%	32.28%	+58.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	90.60%	31.78%	+58.82%

TARK vs. DBO - Expense Ratio Comparison

TARK has a 1.15% expense ratio, which is higher than DBO's 0.78% expense ratio.

Dividends

TARK vs. DBO - Dividend Comparison

TARK's dividend yield for the trailing twelve months is around 30.51%, more than DBO's 1.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DBO Invesco DB Oil Fund	1.94%	3.51%	4.68%	4.59%	0.66%	0.00%	0.00%	1.63%	1.58%
TARK Tradr 2X Long Innovation ETF	30.51%	30.00%	0.59%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TARK and DBO in my portfolio?

TARK 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, TARK or DBO?

TARK has higher volatility (17.93%) compared to DBO (13.25%). In terms of maximum drawdown, TARK dropped -77.82% vs DBO's -90.18%.

Which ETF is better, TARK or DBO?

On 3-year performance, TARK leads with 22.58% vs 20.95% for DBO. On fees, DBO is cheaper at 0.78% per year. On volatility, DBO has been the lower-risk option at 13.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TARK or DBO?

Over the 3-year period, TARK has performed better with a 22.58% return vs 20.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TARK or DBO?

DBO is cheaper with a 0.78% expense ratio, compared with 1.15% for TARK.

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

TARK has the higher dividend yield at 30.51%, compared with 1.94% for DBO.

What is the main difference between TARK and DBO?

TARK is categorized as Leveraged Equities, while DBO is Oil & Gas. They also come from different issuers: AXS and Invesco. Their fees differ too: 1.15% for TARK and 0.78% for DBO.

Which has better risk-adjusted returns?

DBO currently has the higher Sharpe Ratio (2.28 vs 0.83), 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.