UFOX vs. DBB

Last updated Jun 25, 2026

UFOX (Defiance Connective Technologies ETF) and DBB (Invesco DB Base Metals Fund) are both exchange-traded funds - UFOX is a Technology Equities fund tracking the BlueStar Connective Technologies Index, while DBB is a Metals fund tracking the DBIQ Optimum Yield Industrial Metals Index Excess Return. Both are passively managed. Over the past 5 years, UFOX returned 20.08%/yr vs 6.74%/yr for DBB. At a 0.33 correlation, their price movements are largely independent. UFOX charges 0.30%/yr vs 0.80%/yr for DBB.

Performance

UFOX vs. DBB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Connective Technologies ETF (UFOX) and Invesco DB Base Metals Fund (DBB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UFOX achieves a 39.44% return, which is significantly higher than DBB's 3.71% return.

UFOX

• 1D: -2.44%
• 1M: -10.59%
• YTD: 39.44%
• 6M: 37.41%
• 1Y: 73.42%
• 3Y*: 41.58%
• 5Y*: 20.08%
• 10Y*: —

DBB

• 1D: -2.78%
• 1M: -8.15%
• YTD: 3.71%
• 6M: 6.25%
• 1Y: 28.56%
• 3Y*: 15.22%
• 5Y*: 6.74%
• 10Y*: 8.28%

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

UFOX vs. DBB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
UFOX Defiance Connective Technologies ETF	39.44%	34.83%	34.11%	21.83%	-27.26%	25.68%	29.78%	5.58%
DBB Invesco DB Base Metals Fund	3.71%	25.01%	7.90%	1.15%	-11.80%	28.97%	15.53%	-7.77%

Correlation

The correlation between UFOX and DBB is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.31
Correlation (All Time) Calculated using the full available price history since Mar 5, 2019	0.33

Return for Risk

UFOX vs. DBB — Risk / Return Rank

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

UFOX

UFOX Risk / Return Rank: 86
UFOX Sharpe Ratio Rank: 89
UFOX Sortino Ratio Rank: 81
UFOX Omega Ratio Rank: 80
UFOX Calmar Ratio Rank: 88
UFOX Martin Ratio Rank: 91

DBB

DBB Risk / Return Rank: 52
DBB Sharpe Ratio Rank: 49
DBB Sortino Ratio Rank: 46
DBB Omega Ratio Rank: 46
DBB Calmar Ratio Rank: 60
DBB Martin Ratio Rank: 58

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.

UFOX vs. DBB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Defiance Connective Technologies ETF (UFOX) and Invesco DB Base Metals Fund (DBB). 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.

	UFOX	DBB	Difference
Sharpe ratio: Return per unit of total volatility	2.61	1.52	+1.09
Sortino ratio: Return per unit of downside risk	3.19	2.08	+1.12
Omega ratio: Gain probability vs. loss probability	1.42	1.27	+0.15
Calmar ratio: Return relative to maximum drawdown	4.50	2.61	+1.89
Martin ratio: Return relative to average drawdown	19.05	9.11	+9.94

UFOX vs. DBB - Sharpe Ratio Comparison

The current UFOX Sharpe Ratio is 2.61, which is higher than the DBB Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of UFOX and DBB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

UFOX vs. DBB - Drawdown Comparison

The maximum UFOX drawdown since its inception was -33.90%, smaller than the maximum DBB drawdown of -60.20%. Use the drawdown chart below to compare losses from any high point for UFOX and DBB.

Drawdown Indicators

	UFOX	DBB	Difference
Max Drawdown Largest peak-to-trough decline	-33.90%	-60.20%	+26.30%
Max Drawdown (1Y) Largest decline over 1 year	-16.40%	-11.00%	-5.40%
Max Drawdown (3Y) Largest decline over 3 years	-28.14%	-16.59%	-11.55%
Max Drawdown (5Y) Largest decline over 5 years	-33.90%	-35.00%	+1.10%
Max Drawdown (10Y) Largest decline over 10 years	—	-37.98%	—
Current Drawdown Current decline from peak	-16.40%	-10.66%	-5.74%
Average Drawdown Average peak-to-trough decline	-9.03%	-30.81%	+21.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.87%	3.14%	+0.73%

Volatility

UFOX vs. DBB - Volatility Comparison

Defiance Connective Technologies ETF (UFOX) has a higher volatility of 13.56% compared to Invesco DB Base Metals Fund (DBB) at 6.45%. This indicates that UFOX's price experiences larger fluctuations and is considered to be riskier than DBB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UFOX	DBB	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.56%	6.45%	+7.11%
Volatility (6M) Calculated over the trailing 6-month period	23.15%	16.46%	+6.69%
Volatility (1Y) Calculated over the trailing 1-year period	28.32%	18.83%	+9.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.19%	20.30%	+4.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.53%	18.52%	+7.01%

UFOX vs. DBB - Expense Ratio Comparison

UFOX has a 0.30% expense ratio, which is lower than DBB's 0.80% expense ratio.

Dividends

UFOX vs. DBB - Dividend Comparison

UFOX's dividend yield for the trailing twelve months is around 0.42%, less than DBB's 2.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DBB Invesco DB Base Metals Fund	2.52%	2.61%	4.75%	7.21%	0.94%	0.00%	0.00%	1.83%	1.59%
UFOX Defiance Connective Technologies ETF	0.42%	0.56%	0.79%	1.40%	1.63%	1.17%	0.99%	0.75%	0.00%

Frequently Asked Questions

Can I hold both UFOX and DBB in my portfolio?

UFOX and DBB 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.

Which is riskier, UFOX or DBB?

UFOX has higher volatility (13.56%) compared to DBB (6.45%). In terms of maximum drawdown, UFOX dropped -33.90% vs DBB's -60.20%.

Which ETF is better, UFOX or DBB?

On 5-year performance, UFOX leads with 20.08% vs 6.74% for DBB. On fees, UFOX is cheaper at 0.30% per year. On volatility, DBB has been the lower-risk option at 6.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UFOX or DBB?

Over the 5-year period, UFOX has performed better with a 20.08% return vs 6.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UFOX or DBB?

UFOX is cheaper with a 0.30% expense ratio, compared with 0.80% for DBB.

Which ETF pays a higher dividend yield, UFOX or DBB?

DBB has the higher dividend yield at 2.52%, compared with 0.42% for UFOX.

What is the main difference between UFOX and DBB?

UFOX is categorized as Technology Equities, while DBB is Metals. UFOX tracks BlueStar Connective Technologies Index, while DBB tracks DBIQ Optimum Yield Industrial Metals Index Excess Return. They also come from different issuers: Defiance and Invesco. Their fees differ too: 0.30% for UFOX and 0.80% for DBB.

Which has better risk-adjusted returns?

UFOX currently has the higher Sharpe Ratio (2.61 vs 1.52), 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.