TUA vs. DBO
TUA (Simplify Short Term Treasury Futures Strategy ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - TUA is a Intermediate Core Bond fund actively managed by Simplify, while DBO is a Oil & Gas fund tracking the DBIQ Optimum Yield Crude Oil Index Excess Return. TUA is actively managed, while DBO is passively managed. Over the past 3 years, TUA returned 0.67%/yr vs 14.86%/yr for DBO. Their -0.19 correlation means they have often moved in opposite directions in the past. TUA charges 0.16%/yr vs 0.78%/yr for DBO.
Performance
TUA vs. DBO - Performance Comparison
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Returns By Period
In the year-to-date period, TUA achieves a -6.37% return, which is significantly lower than DBO's 76.48% return.
TUA
- 1D
- -0.32%
- 1M
- -1.10%
- 6M
- -5.88%
- YTD
- -6.37%
- 1Y
- -5.24%
- 3Y*
- 0.67%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -1.64%
DBO
- 1D
- 1.56%
- 1M
- 24.59%
- 6M
- 53.46%
- YTD
- 76.48%
- 1Y
- 60.30%
- 3Y*
- 14.86%
- 5Y*
- 13.46%
- 10Y*
- 12.59%
- ALL TIME*
- 0.52%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $11.01M | $10.23M | $13.95M | |
| $11.89M | $10.24M | $8.33M |
TUA vs. DBO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TUA Simplify Short Term Treasury Futures Strategy ETF | -6.37% | 7.27% | -3.59% | -2.04% | -0.83% |
DBO Invesco DB Oil Fund | 76.48% | -11.71% | 7.85% | -4.44% | -7.28% |
Correlation
The correlation between TUA and DBO is -0.40, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.40 |
Correlation (3Y) Balances recent behavior with more history. | -0.23 |
Correlation (All Time) Calculated using the full available price history since Nov 15, 2022 | -0.19 |
Over the past year, the inverse relationship between TUA and DBO has strengthened: their correlation has moved from -0.19 to -0.40, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
TUA vs. DBO — Risk / Return Rank
TUA
DBO
TUA vs. DBO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Short Term Treasury Futures Strategy ETF (TUA) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| TUA | DBO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.87 | ||
| Sortino ratioReturn per unit of downside risk | -2.60 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.25 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | -0.37 | 2.01 | -2.38 |
| Martin ratioReturn relative to average drawdown | -0.81 | 6.09 | -6.90 |
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Drawdowns
TUA vs. DBO - Drawdown Comparison
The maximum TUA drawdown since its inception was -15.85%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for TUA and DBO.
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Drawdown Indicators
| TUA | DBO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.85% | -90.18% | +74.33% |
Max Drawdown (1Y)Largest decline over 1 year | -7.96% | -27.73% | +19.77% |
Max Drawdown (3Y)Largest decline over 3 years | -9.14% | -28.20% | +19.06% |
Max Drawdown (5Y)Largest decline over 5 years | — | -37.68% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -61.69% | — |
Current DrawdownCurrent decline from peak | -10.99% | -53.56% | +42.57% |
Average DrawdownAverage peak-to-trough decline | -8.45% | -62.20% | +53.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.64% | 9.96% | -6.32% |
Volatility
TUA vs. DBO - Volatility Comparison
The current volatility for Simplify Short Term Treasury Futures Strategy ETF (TUA) is 1.91%, while Invesco DB Oil Fund (DBO) has a volatility of 17.75%. This indicates that TUA 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.
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Volatility by Period
| TUA | DBO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.91% | 17.75% | -15.84% |
Volatility (6M)Calculated over the trailing 6-month period | 5.57% | 33.77% | -28.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.01% | 38.53% | -31.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.65% | 33.35% | -22.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.65% | 32.20% | -21.55% |
TUA vs. DBO - Expense Ratio Comparison
TUA has a 0.16% expense ratio, which is lower than DBO's 0.78% expense ratio.
Dividends
TUA vs. DBO - Dividend Comparison
TUA's dividend yield for the trailing twelve months is around 3.12%, more than DBO's 1.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBO Invesco DB Oil Fund | 1.99% | 3.51% | 4.68% | 4.59% | 0.66% | 0.00% | 0.00% | 1.63% | 1.58% |
TUA Simplify Short Term Treasury Futures Strategy ETF | 3.12% | 3.84% | 5.19% | 4.83% | 0.15% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TUA and DBO have a correlation of -0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBO has higher volatility (17.75%) compared to TUA (1.91%). In terms of maximum drawdown, TUA dropped -15.85% vs DBO's -90.18%.
On 3-year performance, DBO leads with 14.86% vs 0.67% for TUA. On fees, TUA is cheaper at 0.16% per year. On volatility, TUA has been the lower-risk option at 1.91%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, DBO has performed better with a 14.86% return vs 0.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TUA is cheaper with a 0.16% expense ratio, compared with 0.78% for DBO.
TUA has the higher dividend yield at 3.12%, compared with 1.99% for DBO.
TUA is categorized as Intermediate Core Bond, while DBO is Oil & Gas. They also come from different issuers: Simplify and Invesco. Their fees differ too: 0.16% for TUA and 0.78% for DBO.
DBO currently has the higher Sharpe Ratio (1.45 vs -0.42), 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.
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