VCLN vs. DBO

Last updated Jun 4, 2026

VCLN (Virtus Duff & Phelps Clean Energy ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - VCLN is a Sustainable fund actively managed by Virtus Investment Partners, while DBO is a Oil & Gas fund tracking the DBIQ Optimum Yield Crude Oil Index Excess Return. VCLN is actively managed, while DBO is passively managed. Over the past 3 years, VCLN returned 20.62%/yr vs 21.86%/yr for DBO. At a 0.09 correlation, their price movements are largely independent. VCLN charges 0.59%/yr vs 0.78%/yr for DBO.

Performance

VCLN vs. DBO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus Duff & Phelps Clean Energy ETF (VCLN) 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, VCLN achieves a 39.16% return, which is significantly lower than DBO's 84.75% return.

VCLN

• 1D: -1.16%
• 1M: 11.34%
• YTD: 39.16%
• 6M: 37.23%
• 1Y: 95.86%
• 3Y*: 20.62%
• 5Y*: —
• 10Y*: —

DBO

• 1D: 2.27%
• 1M: -2.34%
• YTD: 84.75%
• 6M: 81.10%
• 1Y: 80.26%
• 3Y*: 21.86%
• 5Y*: 15.98%
• 10Y*: 11.37%

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

VCLN vs. DBO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
VCLN Virtus Duff & Phelps Clean Energy ETF	39.16%	55.75%	-6.69%	-17.54%	-7.87%	-5.00%
DBO Invesco DB Oil Fund	84.75%	-11.71%	7.85%	-4.44%	13.04%	10.52%

Correlation

The correlation between VCLN and DBO is -0.14, 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	-0.14
Correlation (3Y) Calculated over the trailing 3-year period	0.03
Correlation (All Time) Calculated using the full available price history since Aug 5, 2021	0.09

The correlation between VCLN and DBO shifts across timeframes, from -0.14 (1 year) to 0.09 (all time), reflecting how their relationship changes across market environments.

VCLN vs. DBO - Sectors Allocation Comparison

Sectors	VCLN	DBO
Utilities	39.8%	-
Industrials	36.7%	-
Technology	22.4%	-
Energy	1.1%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Financial Services	-	116.0%
Healthcare	-	-
Real Estate	-	-

Return for Risk

VCLN vs. DBO — Risk / Return Rank

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

VCLN

VCLN Risk / Return Rank: 90
VCLN Sharpe Ratio Rank: 92
VCLN Sortino Ratio Rank: 88
VCLN Omega Ratio Rank: 83
VCLN Calmar Ratio Rank: 95
VCLN Martin Ratio Rank: 95

DBO

DBO Risk / Return Rank: 65
DBO Sharpe Ratio Rank: 70
DBO Sortino Ratio Rank: 62
DBO Omega Ratio Rank: 60
DBO Calmar Ratio Rank: 83
DBO Martin Ratio Rank: 52

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.

VCLN vs. DBO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus Duff & Phelps Clean Energy ETF (VCLN) 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.

	VCLN	DBO	Difference
Sharpe ratio: Return per unit of total volatility	3.30	2.34	+0.96
Sortino ratio: Return per unit of downside risk	4.05	2.94	+1.12
Omega ratio: Gain probability vs. loss probability	1.51	1.38	+0.13
Calmar ratio: Return relative to maximum drawdown	7.66	4.44	+3.23
Martin ratio: Return relative to average drawdown	29.03	9.02	+20.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VCLN vs. DBO - Sharpe Ratio Comparison

The current VCLN Sharpe Ratio is 3.30, which is higher than the DBO Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of VCLN 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.

Sharpe Ratios by Period

	VCLN	DBO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.30	2.34	+0.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.50	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.36	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.30	0.02	+0.28

Drawdowns

VCLN vs. DBO - Drawdown Comparison

The maximum VCLN drawdown since its inception was -45.66%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for VCLN and DBO.

Drawdown Indicators

	VCLN	DBO	Difference
Max Drawdown Largest peak-to-trough decline	-45.66%	-90.18%	+44.52%
Max Drawdown (1Y) Largest decline over 1 year	-12.58%	-18.19%	+5.61%
Max Drawdown (3Y) Largest decline over 3 years	-29.25%	-28.20%	-1.05%
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	-1.16%	-51.38%	+50.22%
Average Drawdown Average peak-to-trough decline	-24.09%	-62.25%	+38.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.31%	8.92%	-5.61%

Volatility

VCLN vs. DBO - Volatility Comparison

The current volatility for Virtus Duff & Phelps Clean Energy ETF (VCLN) is 9.04%, while Invesco DB Oil Fund (DBO) has a volatility of 12.61%. This indicates that VCLN 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.

Volatility by Period

	VCLN	DBO	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.04%	12.61%	-3.57%
Volatility (6M) Calculated over the trailing 6-month period	20.11%	28.20%	-8.09%
Volatility (1Y) Calculated over the trailing 1-year period	29.22%	34.46%	-5.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.43%	32.29%	-4.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.43%	31.78%	-4.35%

VCLN vs. DBO - Expense Ratio Comparison

VCLN has a 0.59% expense ratio, which is lower than DBO's 0.78% expense ratio.

Dividends

VCLN vs. DBO - Dividend Comparison

VCLN's dividend yield for the trailing twelve months is around 1.45%, less than DBO's 1.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DBO Invesco DB Oil Fund	1.90%	3.51%	4.68%	4.59%	0.66%	0.00%	0.00%	1.63%	1.58%
VCLN Virtus Duff & Phelps Clean Energy ETF	1.45%	2.01%	1.16%	1.14%	0.65%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VCLN and DBO in my portfolio?

VCLN and DBO have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VCLN or DBO?

DBO has higher volatility (12.61%) compared to VCLN (9.04%). In terms of maximum drawdown, VCLN dropped -45.66% vs DBO's -90.18%.

Which ETF is better, VCLN or DBO?

On 3-year performance, DBO leads with 21.86% vs 20.62% for VCLN. On fees, VCLN is cheaper at 0.59% per year. On volatility, VCLN has been the lower-risk option at 9.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VCLN or DBO?

Over the 3-year period, DBO has performed better with a 21.86% return vs 20.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VCLN or DBO?

VCLN is cheaper with a 0.59% expense ratio, compared with 0.78% for DBO.

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

DBO has the higher dividend yield at 1.90%, compared with 1.45% for VCLN.

What is the main difference between VCLN and DBO?

VCLN is categorized as Sustainable, while DBO is Oil & Gas. They also come from different issuers: Virtus Investment Partners and Invesco. Their fees differ too: 0.59% for VCLN and 0.78% for DBO.

Which has better risk-adjusted returns?

VCLN currently has the higher Sharpe Ratio (3.30 vs 2.34), 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.