TDSB vs. DBO

Last updated Jun 4, 2026

TDSB (Cabana Target Drawdown 7 ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - TDSB is a Tactical Allocation fund actively managed by Exchange Traded Concepts, while DBO is a Oil & Gas fund tracking the DBIQ Optimum Yield Crude Oil Index Excess Return. TDSB is actively managed, while DBO is passively managed. Over the past 5 years, TDSB returned 2.16%/yr vs 15.98%/yr for DBO. At a 0.08 correlation, their price movements are largely independent. TDSB charges 0.69%/yr vs 0.78%/yr for DBO.

Performance

TDSB vs. DBO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cabana Target Drawdown 7 ETF (TDSB) 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, TDSB achieves a 4.54% return, which is significantly lower than DBO's 84.75% return.

TDSB

• 1D: -0.16%
• 1M: 0.64%
• YTD: 4.54%
• 6M: 4.50%
• 1Y: 14.83%
• 3Y*: 8.77%
• 5Y*: 2.16%
• 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)

TDSB vs. DBO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
TDSB Cabana Target Drawdown 7 ETF	4.54%	12.95%	3.56%	4.71%	-16.83%	8.44%	-1.17%
DBO Invesco DB Oil Fund	84.75%	-11.71%	7.85%	-4.44%	13.04%	60.74%	13.77%

Correlation

The correlation between TDSB and DBO is -0.10, 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	-0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.04
Correlation (5Y) Calculated over the trailing 5-year period	0.07
Correlation (All Time) Calculated using the full available price history since Sep 18, 2020	0.08

The correlation between TDSB and DBO shifts across timeframes, from -0.10 (1 year) to 0.08 (all time), reflecting how their relationship changes across market environments.

TDSB vs. DBO - Sectors Allocation Comparison

Sectors	TDSB	DBO
Utilities	33.1%	-
Healthcare	32.8%	-
Technology	19.6%	-
Communication Services	5.6%	-
Consumer Cyclical	4.4%	-
Consumer Defensive	2.7%	-
Industrials	1.0%	-
Basic Materials	0.4%	-
Energy	0.2%	-
Financial Services	0.1%	116.0%
Real Estate	0.0%	-

Return for Risk

TDSB vs. DBO — Risk / Return Rank

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

TDSB

TDSB Risk / Return Rank: 73
TDSB Sharpe Ratio Rank: 77
TDSB Sortino Ratio Rank: 76
TDSB Omega Ratio Rank: 80
TDSB Calmar Ratio Rank: 65
TDSB 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.

TDSB vs. DBO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cabana Target Drawdown 7 ETF (TDSB) 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.

	TDSB	DBO	Difference
Sharpe ratio: Return per unit of total volatility	2.49	2.34	+0.15
Sortino ratio: Return per unit of downside risk	3.43	2.94	+0.49
Omega ratio: Gain probability vs. loss probability	1.48	1.38	+0.10
Calmar ratio: Return relative to maximum drawdown	3.21	4.44	-1.23
Martin ratio: Return relative to average drawdown	12.74	9.02	+3.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TDSB vs. DBO - Sharpe Ratio Comparison

The current TDSB Sharpe Ratio is 2.49, which is comparable to the DBO Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of TDSB 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

	TDSB	DBO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.49	2.34	+0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.30	0.50	-0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.36	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	0.02	+0.29

Drawdowns

TDSB vs. DBO - Drawdown Comparison

The maximum TDSB drawdown since its inception was -19.56%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for TDSB and DBO.

Drawdown Indicators

	TDSB	DBO	Difference
Max Drawdown Largest peak-to-trough decline	-19.56%	-90.18%	+70.62%
Max Drawdown (1Y) Largest decline over 1 year	-4.64%	-18.19%	+13.55%
Max Drawdown (3Y) Largest decline over 3 years	-6.84%	-28.20%	+21.36%
Max Drawdown (5Y) Largest decline over 5 years	-19.56%	-37.68%	+18.12%
Max Drawdown (10Y) Largest decline over 10 years	—	-61.69%	—
Current Drawdown Current decline from peak	-0.90%	-51.38%	+50.48%
Average Drawdown Average peak-to-trough decline	-9.12%	-62.25%	+53.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.17%	8.92%	-7.75%

Volatility

TDSB vs. DBO - Volatility Comparison

The current volatility for Cabana Target Drawdown 7 ETF (TDSB) is 1.64%, while Invesco DB Oil Fund (DBO) has a volatility of 12.61%. This indicates that TDSB 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

	TDSB	DBO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.64%	12.61%	-10.97%
Volatility (6M) Calculated over the trailing 6-month period	5.01%	28.20%	-23.19%
Volatility (1Y) Calculated over the trailing 1-year period	5.98%	34.46%	-28.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.32%	32.29%	-24.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.53%	31.78%	-24.25%

TDSB vs. DBO - Expense Ratio Comparison

TDSB has a 0.69% expense ratio, which is lower than DBO's 0.78% expense ratio.

Dividends

TDSB vs. DBO - Dividend Comparison

TDSB's dividend yield for the trailing twelve months is around 2.13%, 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%
TDSB Cabana Target Drawdown 7 ETF	2.13%	1.93%	3.50%	2.77%	1.81%	1.75%	0.46%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TDSB and DBO in my portfolio?

TDSB and DBO have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TDSB or DBO?

DBO has higher volatility (12.61%) compared to TDSB (1.64%). In terms of maximum drawdown, TDSB dropped -19.56% vs DBO's -90.18%.

Which ETF is better, TDSB or DBO?

On 5-year performance, DBO leads with 15.98% vs 2.16% for TDSB. On fees, TDSB is cheaper at 0.69% per year. On volatility, TDSB has been the lower-risk option at 1.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TDSB or DBO?

Over the 5-year period, DBO has performed better with a 15.98% return vs 2.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TDSB or DBO?

TDSB is cheaper with a 0.69% expense ratio, compared with 0.78% for DBO.

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

TDSB has the higher dividend yield at 2.13%, compared with 1.90% for DBO.

What is the main difference between TDSB and DBO?

TDSB is categorized as Tactical Allocation, while DBO is Oil & Gas. They also come from different issuers: Exchange Traded Concepts and Invesco. Their fees differ too: 0.69% for TDSB and 0.78% for DBO.

Which has better risk-adjusted returns?

TDSB currently has the higher Sharpe Ratio (2.49 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.