UXRP vs. DBO

Last updated Aug 2, 2026

UXRP (ProShares Ultra XRP ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - UXRP is a Leveraged Cryptocurrency fund tracking the Bloomberg XRP 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 year, UXRP returned -94.69% vs 60.30% for DBO. Their -0.04 correlation means they have often moved in opposite directions in the past. UXRP charges 1.67%/yr vs 0.78%/yr for DBO.

Performance

UXRP vs. DBO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Ultra XRP ETF (UXRP) and Invesco DB Oil Fund (DBO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UXRP achieves a -77.99% return, which is significantly lower than DBO's 76.48% return.

UXRP

• 1D: -5.41%
• 1M: -7.09%
• 6M: -74.16%
• YTD: -77.99%
• 1Y: -94.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: -94.38%

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%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DBO Invesco DB Oil Fund	$11.01M	$10.23M	$13.95M
UXRP ProShares Ultra XRP ETF	$852.19K	$746.96K	$1.32M

UXRP vs. DBO - Yearly Performance Comparison

	2026 (YTD)	2025
UXRP ProShares Ultra XRP ETF	-77.99%	-77.43%
DBO Invesco DB Oil Fund	76.48%	-7.64%

Correlation

The correlation between UXRP and DBO is -0.05, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.05
Correlation (All Time) Calculated using the full available price history since Jul 15, 2025	-0.04

Return for Risk

UXRP vs. DBO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

UXRP

UXRP Risk / Return Rank: 2
UXRP Sharpe Ratio Rank: 4
UXRP Sortino Ratio Rank: 1
UXRP Omega Ratio Rank: 1
UXRP Calmar Ratio Rank: 0
UXRP Martin Ratio Rank: 3

DBO

DBO Risk / Return Rank: 58
DBO Sharpe Ratio Rank: 62
DBO Sortino Ratio Rank: 61
DBO Omega Ratio Rank: 57
DBO Calmar Ratio Rank: 57
DBO Martin Ratio Rank: 52

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

UXRP vs. DBO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra XRP ETF (UXRP) 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.

	UXRP	DBO	Difference
Sharpe ratio: Return per unit of total volatility	-0.66	1.45	-2.11
Sortino ratio: Return per unit of downside risk	-1.95	2.05	-4.00
Omega ratio: Gain probability vs. loss probability	0.79	1.25	-0.46
Calmar ratio: Return relative to maximum drawdown	-0.99	2.01	-3.00
Martin ratio: Return relative to average drawdown	-1.23	6.09	-7.32

UXRP vs. DBO - Sharpe Ratio Comparison

The current UXRP Sharpe Ratio is -0.66, which is lower than the DBO Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of UXRP and DBO, 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

UXRP vs. DBO - Drawdown Comparison

The maximum UXRP drawdown since its inception was -96.60%, which is greater than DBO's maximum drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for UXRP and DBO.

Drawdown Indicators

	UXRP	DBO	Difference
Max Drawdown Largest peak-to-trough decline	-96.60%	-90.18%	-6.42%
Max Drawdown (1Y) Largest decline over 1 year	-95.74%	-27.73%	-68.01%
Max Drawdown (3Y) Largest decline over 3 years	—	-28.20%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-37.68%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-61.69%	—
Current Drawdown Current decline from peak	-96.51%	-53.56%	-42.95%
Average Drawdown Average peak-to-trough decline	-74.97%	-62.20%	-12.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	76.79%	9.96%	+66.83%

Volatility

UXRP vs. DBO - Volatility Comparison

ProShares Ultra XRP ETF (UXRP) has a higher volatility of 24.70% compared to Invesco DB Oil Fund (DBO) at 17.75%. This indicates that UXRP's price experiences larger fluctuations and is considered to be riskier than DBO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UXRP	DBO	Difference
Volatility (1M) Calculated over the trailing 1-month period	24.70%	17.75%	+6.95%
Volatility (6M) Calculated over the trailing 6-month period	101.23%	33.77%	+67.46%
Volatility (1Y) Calculated over the trailing 1-year period	142.99%	38.53%	+104.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	143.51%	33.35%	+110.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	143.51%	32.20%	+111.31%

UXRP vs. DBO - Expense Ratio Comparison

UXRP has a 1.67% expense ratio, which is higher than DBO's 0.78% expense ratio.

Dividends

UXRP vs. DBO - Dividend Comparison

UXRP's dividend yield for the trailing twelve months is around 0.02%, less 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%
UXRP ProShares Ultra XRP ETF	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both UXRP and DBO in my portfolio?

UXRP and DBO have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UXRP or DBO?

UXRP has higher volatility (24.70%) compared to DBO (17.75%). In terms of maximum drawdown, UXRP dropped -96.60% vs DBO's -90.18%.

Which ETF is better, UXRP or DBO?

On 1-year performance, DBO leads with 60.30% vs -94.69% for UXRP. On fees, DBO is cheaper at 0.78% per year. On volatility, DBO has been the lower-risk option at 17.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UXRP or DBO?

Over the 1-year period, DBO has performed better with a 60.30% return vs -94.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UXRP or DBO?

DBO is cheaper with a 0.78% expense ratio, compared with 1.67% for UXRP.

Which ETF pays a higher dividend yield, UXRP or DBO?

DBO has the higher dividend yield at 1.99%, compared with 0.02% for UXRP.

What is the main difference between UXRP and DBO?

UXRP is categorized as Leveraged Cryptocurrency, while DBO is Oil & Gas. UXRP tracks Bloomberg XRP Index, while DBO tracks DBIQ Optimum Yield Crude Oil Index Excess Return. They also come from different issuers: ProShares and Invesco. Their fees differ too: 1.67% for UXRP and 0.78% for DBO.

Which has better risk-adjusted returns?

DBO currently has the higher Sharpe Ratio (1.45 vs -0.66), 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.