TSLW vs. DBO

Last updated Jun 4, 2026

TSLW (Roundhill TSLA WeeklyPay™ ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - TSLW is a Derivative Income fund actively managed by Roundhill, while DBO is a Oil & Gas fund tracking the DBIQ Optimum Yield Crude Oil Index Excess Return. TSLW is actively managed, while DBO is passively managed. Over the past year, TSLW returned 20.22% vs 80.26% for DBO. At a correlation of -0.11, they often move in opposite directions. TSLW charges 0.99%/yr vs 0.78%/yr for DBO.

Performance

TSLW vs. DBO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill TSLA WeeklyPay™ ETF (TSLW) 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, TSLW achieves a -9.26% return, which is significantly lower than DBO's 84.75% return.

TSLW

• 1D: -0.18%
• 1M: 9.09%
• YTD: -9.26%
• 6M: -9.14%
• 1Y: 20.22%
• 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)

TSLW vs. DBO - Yearly Performance Comparison

	2026 (YTD)	2025
TSLW Roundhill TSLA WeeklyPay™ ETF	-9.26%	33.77%
DBO Invesco DB Oil Fund	84.75%	-1.37%

Correlation

The correlation between TSLW and DBO is -0.11, 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	-0.11
Correlation (All Time) Calculated using the full available price history since Jun 3, 2025	-0.11

Return for Risk

TSLW vs. DBO — Risk / Return Rank

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

TSLW

TSLW Risk / Return Rank: 15
TSLW Sharpe Ratio Rank: 14
TSLW Sortino Ratio Rank: 17
TSLW Omega Ratio Rank: 17
TSLW Calmar Ratio Rank: 16
TSLW Martin Ratio Rank: 15

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.

TSLW vs. DBO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill TSLA WeeklyPay™ ETF (TSLW) 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.

	TSLW	DBO	Difference
Sharpe ratio: Return per unit of total volatility	0.37	2.34	-1.98
Sortino ratio: Return per unit of downside risk	0.87	2.94	-2.07
Omega ratio: Gain probability vs. loss probability	1.11	1.38	-0.27
Calmar ratio: Return relative to maximum drawdown	0.57	4.44	-3.87
Martin ratio: Return relative to average drawdown	1.29	9.02	-7.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TSLW vs. DBO - Sharpe Ratio Comparison

The current TSLW Sharpe Ratio is 0.37, which is lower than the DBO Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of TSLW 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

	TSLW	DBO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.37	2.34	-1.98
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	0.39	0.02	+0.36

Drawdowns

TSLW vs. DBO - Drawdown Comparison

The maximum TSLW drawdown since its inception was -35.80%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for TSLW and DBO.

Drawdown Indicators

	TSLW	DBO	Difference
Max Drawdown Largest peak-to-trough decline	-35.80%	-90.18%	+54.38%
Max Drawdown (1Y) Largest decline over 1 year	-35.80%	-18.19%	-17.61%
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	-18.23%	-51.38%	+33.15%
Average Drawdown Average peak-to-trough decline	-12.88%	-62.25%	+49.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.77%	8.92%	+6.85%

Volatility

TSLW vs. DBO - Volatility Comparison

Roundhill TSLA WeeklyPay™ ETF (TSLW) has a higher volatility of 14.56% compared to Invesco DB Oil Fund (DBO) at 12.61%. This indicates that TSLW'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

	TSLW	DBO	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.56%	12.61%	+1.95%
Volatility (6M) Calculated over the trailing 6-month period	32.83%	28.20%	+4.63%
Volatility (1Y) Calculated over the trailing 1-year period	55.52%	34.46%	+21.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.52%	32.29%	+23.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.52%	31.78%	+23.74%

TSLW vs. DBO - Expense Ratio Comparison

TSLW has a 0.99% expense ratio, which is higher than DBO's 0.78% expense ratio.

Dividends

TSLW vs. DBO - Dividend Comparison

TSLW's dividend yield for the trailing twelve months is around 84.61%, 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%
TSLW Roundhill TSLA WeeklyPay™ ETF	84.61%	49.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TSLW and DBO in my portfolio?

TSLW and DBO have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSLW or DBO?

TSLW has higher volatility (14.56%) compared to DBO (12.61%). In terms of maximum drawdown, TSLW dropped -35.80% vs DBO's -90.18%.

Which ETF is better, TSLW or DBO?

On 1-year performance, DBO leads with 80.26% vs 20.22% for TSLW. On fees, DBO is cheaper at 0.78% per year. On volatility, DBO has been the lower-risk option at 12.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSLW or DBO?

Over the 1-year period, DBO has performed better with a 80.26% return vs 20.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLW or DBO?

DBO is cheaper with a 0.78% expense ratio, compared with 0.99% for TSLW.

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

TSLW has the higher dividend yield at 84.61%, compared with 1.90% for DBO.

What is the main difference between TSLW and DBO?

TSLW is categorized as Derivative Income, while DBO is Oil & Gas. They also come from different issuers: Roundhill and Invesco. Their fees differ too: 0.99% for TSLW and 0.78% for DBO.

Which has better risk-adjusted returns?

DBO currently has the higher Sharpe Ratio (2.34 vs 0.37), 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.