USO vs. DBO
Compare and contrast key facts about United States Oil Fund LP (USO) and Invesco DB Oil Fund (DBO).
USO and DBO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. USO is a passively managed fund by Concierge Technologies that tracks the performance of the Front Month Light Sweet Crude Oil. It was launched on Apr 10, 2006. DBO is a passively managed fund by Invesco that tracks the performance of the DBIQ Optimum Yield Crude Oil Index Excess Return. It was launched on Jan 5, 2007. Both USO and DBO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: USO or DBO.
Key characteristics
| USO | DBO | |
|---|---|---|
| YTD Return | 6.12% | 1.29% |
| 1Y Return | -2.70% | -8.16% |
| 3Y Return (Ann) | 8.13% | 0.17% |
| 5Y Return (Ann) | -6.07% | 8.15% |
| 10Y Return (Ann) | -11.17% | -3.87% |
| Sharpe Ratio | -0.11 | -0.34 |
| Sortino Ratio | 0.05 | -0.32 |
| Omega Ratio | 1.01 | 0.96 |
| Calmar Ratio | -0.03 | -0.12 |
| Martin Ratio | -0.38 | -1.17 |
| Ulcer Index | 7.82% | 7.22% |
| Daily Std Dev | 28.26% | 24.55% |
| Max Drawdown | -98.19% | -90.18% |
| Current Drawdown | -92.47% | -72.01% |
Correlation
The correlation between USO and DBO is 0.95, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
USO vs. DBO - Performance Comparison
In the year-to-date period, USO achieves a 6.12% return, which is significantly higher than DBO's 1.29% return. Over the past 10 years, USO has underperformed DBO with an annualized return of -11.17%, while DBO has yielded a comparatively higher -3.87% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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USO vs. DBO - Expense Ratio Comparison
USO has a 0.79% expense ratio, which is higher than DBO's 0.78% expense ratio.
Risk-Adjusted Performance
USO vs. DBO - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for United States Oil Fund LP (USO) 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.
Dividends
USO vs. DBO - Dividend Comparison
USO has not paid dividends to shareholders, while DBO's dividend yield for the trailing twelve months is around 4.54%.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|
USO United States Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
DBO Invesco DB Oil Fund | 4.54% | 4.59% | 0.66% | 0.00% | 0.00% | 1.63% | 1.58% |
Drawdowns
USO vs. DBO - Drawdown Comparison
The maximum USO drawdown since its inception was -98.19%, which is greater than DBO's maximum drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for USO and DBO. For additional features, visit the drawdowns tool.
Volatility
USO vs. DBO - Volatility Comparison
United States Oil Fund LP (USO) and Invesco DB Oil Fund (DBO) have volatilities of 9.13% and 9.23%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.