URTY vs. DBO
URTY (ProShares UltraPro Russell2000) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - URTY is a Leveraged Equities fund tracking the Russell 2000 Index (300%), while DBO is a Oil & Gas fund tracking the DBIQ Optimum Yield Crude Oil Index Excess Return. Both are passively managed. Over the past 10 years, URTY returned 6.75%/yr vs 11.43%/yr for DBO. Their 0.29 correlation means their historical movements had little consistent relationship. URTY charges 0.95%/yr vs 0.78%/yr for DBO.
Performance
URTY vs. DBO - Performance Comparison
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Returns By Period
In the year-to-date period, URTY achieves a 55.97% return, which is significantly lower than DBO's 66.72% return. Over the past 10 years, URTY has underperformed DBO with an annualized return of 6.75%, while DBO has yielded a comparatively higher 11.43% annualized return.
URTY
- 1D
- 5.14%
- 1M
- -2.55%
- 6M
- 31.22%
- YTD
- 55.97%
- 1Y
- 118.59%
- 3Y*
- 23.05%
- 5Y*
- -2.82%
- 10Y*
- 6.75%
- ALL TIME*
- 14.07%
DBO
- 1D
- -5.53%
- 1M
- 17.71%
- 6M
- 53.16%
- YTD
- 66.72%
- 1Y
- 51.44%
- 3Y*
- 12.33%
- 5Y*
- 13.64%
- 10Y*
- 11.43%
- ALL TIME*
- 0.22%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $11.34M | $10.71M | $13.49M | |
| $35.77M | $36.50M | $68.68M |
URTY vs. DBO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
URTY ProShares UltraPro Russell2000 | 55.97% | 9.26% | 7.38% | 24.43% | -62.81% | 28.47% | -7.72% | 72.37% | -39.59% | 38.85% |
DBO Invesco DB Oil Fund | 66.72% | -11.71% | 7.85% | -4.44% | 13.04% | 60.74% | -20.99% | 28.05% | -15.22% | 4.86% |
Correlation
The correlation between URTY and DBO is -0.26, 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. | -0.26 |
Correlation (3Y) Balances recent behavior with more history. | -0.03 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.11 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.20 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2010 | 0.29 |
The correlation between URTY and DBO shifts across timeframes, from -0.26 (1 year) to 0.29 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
URTY vs. DBO — Risk / Return Rank
URTY
DBO
URTY vs. DBO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares UltraPro Russell2000 (URTY) 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.
| URTY | DBO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.73 | ||
| Sortino ratioReturn per unit of downside risk | +0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.23 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.66 | 1.86 | +1.80 |
| Martin ratioReturn relative to average drawdown | 12.00 | 5.64 | +6.36 |
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Drawdowns
URTY vs. DBO - Drawdown Comparison
The maximum URTY drawdown since its inception was -88.09%, roughly equal to the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for URTY and DBO.
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Drawdown Indicators
| URTY | DBO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.09% | -90.18% | +2.09% |
Max Drawdown (1Y)Largest decline over 1 year | -32.56% | -27.73% | -4.83% |
Max Drawdown (3Y)Largest decline over 3 years | -65.85% | -28.20% | -37.65% |
Max Drawdown (5Y)Largest decline over 5 years | -82.76% | -37.68% | -45.08% |
Max Drawdown (10Y)Largest decline over 10 years | -88.09% | -61.69% | -26.40% |
Current DrawdownCurrent decline from peak | -35.79% | -56.13% | +20.34% |
Average DrawdownAverage peak-to-trough decline | -34.80% | -62.20% | +27.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.92% | 9.16% | +0.76% |
Volatility
URTY vs. DBO - Volatility Comparison
The current volatility for ProShares UltraPro Russell2000 (URTY) is 12.57%, while Invesco DB Oil Fund (DBO) has a volatility of 18.99%. This indicates that URTY 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
| URTY | DBO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.57% | 18.99% | -6.42% |
Volatility (6M)Calculated over the trailing 6-month period | 42.24% | 34.30% | +7.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.90% | 38.86% | +19.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 67.36% | 33.43% | +33.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 69.28% | 32.24% | +37.04% |
URTY vs. DBO - Expense Ratio Comparison
URTY has a 0.95% expense ratio, which is higher than DBO's 0.78% expense ratio.
Dividends
URTY vs. DBO - Dividend Comparison
URTY's dividend yield for the trailing twelve months is around 0.76%, less than DBO's 2.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
DBO Invesco DB Oil Fund | 2.11% | 3.51% | 4.68% | 4.59% | 0.66% | 0.00% | 0.00% | 1.63% | 1.58% | 0.00% | 0.00% |
URTY ProShares UltraPro Russell2000 | 0.76% | 1.02% | 1.16% | 0.55% | 0.28% | 0.00% | 0.00% | 0.18% | 0.28% | 0.00% | 0.03% |
Frequently Asked Questions
URTY and DBO have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBO has higher volatility (18.99%) compared to URTY (12.57%). In terms of maximum drawdown, URTY dropped -88.09% vs DBO's -90.18%.
On 10-year performance, DBO leads with 11.43% vs 6.75% for URTY. On fees, DBO is cheaper at 0.78% per year. On volatility, URTY has been the lower-risk option at 12.57%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DBO has performed better with a 11.43% return vs 6.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DBO is cheaper with a 0.78% expense ratio, compared with 0.95% for URTY.
DBO has the higher dividend yield at 2.11%, compared with 0.76% for URTY.
URTY is categorized as Leveraged Equities, while DBO is Oil & Gas. URTY tracks Russell 2000 Index (300%), while DBO tracks DBIQ Optimum Yield Crude Oil Index Excess Return. They also come from different issuers: ProShares and Invesco. Their fees differ too: 0.95% for URTY and 0.78% for DBO.
URTY currently has the higher Sharpe Ratio (2.06 vs 1.33), 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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