UNIY vs. DBO
UNIY (WisdomTree Voya Yield Enchanced USD Universal Bond Fund) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - UNIY is a Intermediate Core Bond fund tracking the Bloomberg US Universal Enhanced Yield Index, while DBO is a Oil & Gas fund tracking the DBIQ Optimum Yield Crude Oil Index Excess Return. Both are passively managed. Over the past 3 years, UNIY returned 4.72%/yr vs 12.72%/yr for DBO. At a correlation of -0.20, they often move in opposite directions. UNIY charges 0.15%/yr vs 0.78%/yr for DBO.
Performance
UNIY vs. DBO - Performance Comparison
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Returns By Period
In the year-to-date period, UNIY achieves a 1.08% return, which is significantly lower than DBO's 43.93% return.
UNIY
- 1D
- 0.43%
- 1M
- 1.15%
- YTD
- 1.08%
- 6M
- 0.95%
- 1Y
- 4.80%
- 3Y*
- 4.72%
- 5Y*
- —
- 10Y*
- —
DBO
- 1D
- -4.15%
- 1M
- -21.96%
- YTD
- 43.93%
- 6M
- 41.96%
- 1Y
- 37.25%
- 3Y*
- 12.72%
- 5Y*
- 9.10%
- 10Y*
- 8.76%
UNIY vs. DBO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
UNIY WisdomTree Voya Yield Enchanced USD Universal Bond Fund | 1.08% | 7.37% | 1.86% | 3.83% |
DBO Invesco DB Oil Fund | 43.93% | -11.71% | 7.85% | 0.65% |
Correlation
The correlation between UNIY and DBO is -0.40, 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 | -0.40 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.21 |
Correlation (All Time) Calculated using the full available price history since Feb 7, 2023 | -0.20 |
Over the past year, the inverse relationship between UNIY and DBO has strengthened: their correlation has moved from -0.20 to -0.40, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
UNIY vs. DBO — Risk / Return Rank
UNIY
DBO
UNIY vs. DBO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Voya Yield Enchanced USD Universal Bond Fund (UNIY) 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.
| UNIY | DBO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.22 | ||
| Sortino ratioReturn per unit of downside risk | +0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.20 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.90 | 1.43 | +0.47 |
| Martin ratioReturn relative to average drawdown | 5.68 | 4.33 | +1.36 |
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Drawdowns
UNIY vs. DBO - Drawdown Comparison
The maximum UNIY drawdown since its inception was -6.27%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for UNIY and DBO.
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Drawdown Indicators
| UNIY | DBO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.27% | -90.18% | +83.91% |
Max Drawdown (1Y)Largest decline over 1 year | -2.53% | -26.22% | +23.69% |
Max Drawdown (3Y)Largest decline over 3 years | -5.40% | -28.20% | +22.80% |
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 | -0.52% | -62.12% | +61.60% |
Average DrawdownAverage peak-to-trough decline | -1.37% | -62.22% | +60.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.85% | 8.63% | -7.78% |
Volatility
UNIY vs. DBO - Volatility Comparison
The current volatility for WisdomTree Voya Yield Enchanced USD Universal Bond Fund (UNIY) is 1.12%, while Invesco DB Oil Fund (DBO) has a volatility of 10.78%. This indicates that UNIY 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
| UNIY | DBO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.12% | 10.78% | -9.66% |
Volatility (6M)Calculated over the trailing 6-month period | 2.82% | 29.70% | -26.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.69% | 34.63% | -30.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.84% | 32.59% | -27.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.84% | 31.84% | -27.00% |
UNIY vs. DBO - Expense Ratio Comparison
UNIY has a 0.15% expense ratio, which is lower than DBO's 0.78% expense ratio.
Dividends
UNIY vs. DBO - Dividend Comparison
UNIY's dividend yield for the trailing twelve months is around 4.82%, more than DBO's 2.44% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBO Invesco DB Oil Fund | 2.44% | 3.51% | 4.68% | 4.59% | 0.66% | 0.00% | 0.00% | 1.63% | 1.58% |
UNIY WisdomTree Voya Yield Enchanced USD Universal Bond Fund | 4.82% | 4.95% | 4.86% | 3.99% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
UNIY 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 (10.78%) compared to UNIY (1.12%). In terms of maximum drawdown, UNIY dropped -6.27% vs DBO's -90.18%.
On 3-year performance, DBO leads with 12.72% vs 4.72% for UNIY. On fees, UNIY is cheaper at 0.15% per year. On volatility, UNIY has been the lower-risk option at 1.12%. 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 12.72% return vs 4.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UNIY is cheaper with a 0.15% expense ratio, compared with 0.78% for DBO.
UNIY has the higher dividend yield at 4.82%, compared with 2.44% for DBO.
UNIY is categorized as Intermediate Core Bond, while DBO is Oil & Gas. UNIY tracks Bloomberg US Universal Enhanced Yield Index, while DBO tracks DBIQ Optimum Yield Crude Oil Index Excess Return. They also come from different issuers: WisdomTree and Invesco. Their fees differ too: 0.15% for UNIY and 0.78% for DBO.
UNIY currently has the higher Sharpe Ratio (1.31 vs 1.09), 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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