TPSC vs. DBO

Last updated Jun 4, 2026

TPSC (Timothy Plan US Small Cap Core ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - TPSC is a Small Cap Blend Equities fund tracking the Victory U.S. Small Cap Volatility Weighted BRI, while DBO is a Oil & Gas fund tracking the DBIQ Optimum Yield Crude Oil Index Excess Return. Both are passively managed. Over the past 5 years, TPSC returned 7.07%/yr vs 15.98%/yr for DBO. At a 0.19 correlation, their price movements are largely independent. TPSC charges 0.52%/yr vs 0.78%/yr for DBO.

Performance

TPSC vs. DBO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Timothy Plan US Small Cap Core ETF (TPSC) 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, TPSC achieves a 9.32% return, which is significantly lower than DBO's 84.75% return.

TPSC

• 1D: -0.67%
• 1M: 0.13%
• YTD: 9.32%
• 6M: 8.70%
• 1Y: 20.18%
• 3Y*: 14.55%
• 5Y*: 7.07%
• 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)

TPSC vs. DBO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
TPSC Timothy Plan US Small Cap Core ETF	9.32%	7.34%	11.50%	17.64%	-13.46%	29.74%	10.27%	3.39%
DBO Invesco DB Oil Fund	84.75%	-11.71%	7.85%	-4.44%	13.04%	60.74%	-20.99%	8.68%

Correlation

The correlation between TPSC and DBO is -0.23, 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	-0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.01
Correlation (5Y) Calculated over the trailing 5-year period	0.13
Correlation (All Time) Calculated using the full available price history since Dec 4, 2019	0.19

The correlation between TPSC and DBO shifts across timeframes, from -0.23 (1 year) to 0.19 (all time), reflecting how their relationship changes across market environments.

TPSC vs. DBO - Sectors Allocation Comparison

Sectors	TPSC	DBO
Financial Services	24.0%	116.0%
Industrials	18.5%	-
Consumer Cyclical	13.7%	-
Technology	12.4%	-
Healthcare	7.0%	-
Utilities	6.8%	-
Energy	5.9%	-
Consumer Defensive	5.3%	-
Basic Materials	5.2%	-
Real Estate	0.7%	-
Communication Services	0.6%	-

Return for Risk

TPSC vs. DBO — Risk / Return Rank

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

TPSC

TPSC Risk / Return Rank: 40
TPSC Sharpe Ratio Rank: 36
TPSC Sortino Ratio Rank: 38
TPSC Omega Ratio Rank: 34
TPSC Calmar Ratio Rank: 46
TPSC Martin Ratio Rank: 45

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.

TPSC vs. DBO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Timothy Plan US Small Cap Core ETF (TPSC) 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.

	TPSC	DBO	Difference
Sharpe ratio: Return per unit of total volatility	1.29	2.34	-1.06
Sortino ratio: Return per unit of downside risk	1.98	2.94	-0.96
Omega ratio: Gain probability vs. loss probability	1.23	1.38	-0.15
Calmar ratio: Return relative to maximum drawdown	2.27	4.44	-2.17
Martin ratio: Return relative to average drawdown	7.35	9.02	-1.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TPSC vs. DBO - Sharpe Ratio Comparison

The current TPSC Sharpe Ratio is 1.29, which is lower than the DBO Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of TPSC 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

	TPSC	DBO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.29	2.34	-1.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	0.50	-0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.36	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.02	+0.43

Drawdowns

TPSC vs. DBO - Drawdown Comparison

The maximum TPSC drawdown since its inception was -41.79%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for TPSC and DBO.

Drawdown Indicators

	TPSC	DBO	Difference
Max Drawdown Largest peak-to-trough decline	-41.79%	-90.18%	+48.39%
Max Drawdown (1Y) Largest decline over 1 year	-8.95%	-18.19%	+9.24%
Max Drawdown (3Y) Largest decline over 3 years	-23.44%	-28.20%	+4.76%
Max Drawdown (5Y) Largest decline over 5 years	-23.63%	-37.68%	+14.05%
Max Drawdown (10Y) Largest decline over 10 years	—	-61.69%	—
Current Drawdown Current decline from peak	-1.48%	-51.38%	+49.90%
Average Drawdown Average peak-to-trough decline	-8.43%	-62.25%	+53.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.75%	8.92%	-6.17%

Volatility

TPSC vs. DBO - Volatility Comparison

The current volatility for Timothy Plan US Small Cap Core ETF (TPSC) is 3.96%, while Invesco DB Oil Fund (DBO) has a volatility of 12.61%. This indicates that TPSC 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

	TPSC	DBO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.96%	12.61%	-8.65%
Volatility (6M) Calculated over the trailing 6-month period	10.59%	28.20%	-17.61%
Volatility (1Y) Calculated over the trailing 1-year period	15.80%	34.46%	-18.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.90%	32.29%	-12.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.47%	31.78%	-7.31%

TPSC vs. DBO - Expense Ratio Comparison

TPSC has a 0.52% expense ratio, which is lower than DBO's 0.78% expense ratio.

Dividends

TPSC vs. DBO - Dividend Comparison

TPSC's dividend yield for the trailing twelve months is around 1.02%, 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%
TPSC Timothy Plan US Small Cap Core ETF	1.02%	1.07%	0.97%	1.06%	1.07%	1.12%	1.13%	0.07%	0.00%

Frequently Asked Questions

Can I hold both TPSC and DBO in my portfolio?

TPSC and DBO have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TPSC or DBO?

DBO has higher volatility (12.61%) compared to TPSC (3.96%). In terms of maximum drawdown, TPSC dropped -41.79% vs DBO's -90.18%.

Which ETF is better, TPSC or DBO?

On 5-year performance, DBO leads with 15.98% vs 7.07% for TPSC. On fees, TPSC is cheaper at 0.52% per year. On volatility, TPSC has been the lower-risk option at 3.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TPSC or DBO?

Over the 5-year period, DBO has performed better with a 15.98% return vs 7.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TPSC or DBO?

TPSC is cheaper with a 0.52% expense ratio, compared with 0.78% for DBO.

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

DBO has the higher dividend yield at 1.90%, compared with 1.02% for TPSC.

What is the main difference between TPSC and DBO?

TPSC is categorized as Small Cap Blend Equities, while DBO is Oil & Gas. TPSC tracks Victory U.S. Small Cap Volatility Weighted BRI, while DBO tracks DBIQ Optimum Yield Crude Oil Index Excess Return. They also come from different issuers: Timothy Plan and Invesco. Their fees differ too: 0.52% for TPSC and 0.78% for DBO.

Which has better risk-adjusted returns?

DBO currently has the higher Sharpe Ratio (2.34 vs 1.29), 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.