VUSE vs. DBO
VUSE (Vident U.S. Equity Strategy ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - VUSE is a Mid Cap Value Equities fund tracking the Vident U.S. Quality 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 10 years, VUSE returned 12.13%/yr vs 12.59%/yr for DBO. Their 0.26 correlation means their historical movements had little consistent relationship. VUSE charges 0.50%/yr vs 0.78%/yr for DBO.
Performance
VUSE vs. DBO - Performance Comparison
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Returns By Period
In the year-to-date period, VUSE achieves a 9.01% return, which is significantly lower than DBO's 76.48% return. Both investments have delivered pretty close results over the past 10 years, with VUSE having a 12.13% annualized return and DBO not far ahead at 12.59%.
VUSE
- 1D
- 0.50%
- 1M
- 0.13%
- 6M
- 9.30%
- YTD
- 9.01%
- 1Y
- 15.22%
- 3Y*
- 14.35%
- 5Y*
- 11.66%
- 10Y*
- 12.13%
- ALL TIME*
- 10.17%
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%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $11.01M | $10.23M | $13.95M | |
| $557.71K | $1.27M | $822.32K |
VUSE vs. DBO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VUSE Vident U.S. Equity Strategy ETF | 9.01% | 13.18% | 15.77% | 24.36% | -9.42% | 35.46% | 6.76% | 20.74% | -15.25% | 16.62% |
DBO Invesco DB Oil Fund | 76.48% | -11.71% | 7.85% | -4.44% | 13.04% | 60.74% | -20.99% | 28.05% | -15.22% | 4.86% |
Correlation
The correlation between VUSE and DBO is -0.25, 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. | -0.25 |
Correlation (3Y) Balances recent behavior with more history. | -0.06 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.11 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.22 |
Correlation (All Time) Calculated using the full available price history since Jan 22, 2014 | 0.26 |
The correlation between VUSE and DBO shifts across timeframes, from -0.25 (1 year) to 0.26 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
VUSE vs. DBO — Risk / Return Rank
VUSE
DBO
VUSE vs. DBO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vident U.S. Equity Strategy ETF (VUSE) 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.
| VUSE | DBO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.40 | ||
| Sortino ratioReturn per unit of downside risk | -0.54 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.25 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.50 | 2.01 | -0.51 |
| Martin ratioReturn relative to average drawdown | 5.33 | 6.09 | -0.76 |
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Drawdowns
VUSE vs. DBO - Drawdown Comparison
The maximum VUSE drawdown since its inception was -43.92%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for VUSE and DBO.
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Drawdown Indicators
| VUSE | DBO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.92% | -90.18% | +46.26% |
Max Drawdown (1Y)Largest decline over 1 year | -9.28% | -27.73% | +18.45% |
Max Drawdown (3Y)Largest decline over 3 years | -18.93% | -28.20% | +9.27% |
Max Drawdown (5Y)Largest decline over 5 years | -21.34% | -37.68% | +16.34% |
Max Drawdown (10Y)Largest decline over 10 years | -43.92% | -61.69% | +17.77% |
Current DrawdownCurrent decline from peak | -1.26% | -53.56% | +52.30% |
Average DrawdownAverage peak-to-trough decline | -5.57% | -62.20% | +56.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.60% | 9.96% | -7.36% |
Volatility
VUSE vs. DBO - Volatility Comparison
The current volatility for Vident U.S. Equity Strategy ETF (VUSE) is 3.33%, while Invesco DB Oil Fund (DBO) has a volatility of 17.75%. This indicates that VUSE 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
| VUSE | DBO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.33% | 17.75% | -14.42% |
Volatility (6M)Calculated over the trailing 6-month period | 10.56% | 33.77% | -23.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.34% | 38.53% | -25.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.32% | 33.35% | -16.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.19% | 32.20% | -12.01% |
VUSE vs. DBO - Expense Ratio Comparison
VUSE has a 0.50% expense ratio, which is lower than DBO's 0.78% expense ratio.
Dividends
VUSE vs. DBO - Dividend Comparison
VUSE's dividend yield for the trailing twelve months is around 0.45%, less than DBO's 1.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBO Invesco DB Oil Fund | 1.99% | 3.51% | 4.68% | 4.59% | 0.66% | 0.00% | 0.00% | 1.63% | 1.58% | 0.00% | 0.00% | 0.00% |
VUSE Vident U.S. Equity Strategy ETF | 0.45% | 0.47% | 0.84% | 1.15% | 1.57% | 1.16% | 1.33% | 1.61% | 1.55% | 1.16% | 1.25% | 1.73% |
Frequently Asked Questions
VUSE and DBO have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBO has higher volatility (17.75%) compared to VUSE (3.33%). In terms of maximum drawdown, VUSE dropped -43.92% vs DBO's -90.18%.
On 10-year performance, DBO leads with 12.59% vs 12.13% for VUSE. On fees, VUSE is cheaper at 0.50% per year. On volatility, VUSE has been the lower-risk option at 3.33%. 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 12.59% return vs 12.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VUSE is cheaper with a 0.50% expense ratio, compared with 0.78% for DBO.
DBO has the higher dividend yield at 1.99%, compared with 0.45% for VUSE.
VUSE is categorized as Mid Cap Value Equities, while DBO is Oil & Gas. VUSE tracks Vident U.S. Quality Index, while DBO tracks DBIQ Optimum Yield Crude Oil Index Excess Return. They also come from different issuers: Vident and Invesco. Their fees differ too: 0.50% for VUSE and 0.78% for DBO.
DBO currently has the higher Sharpe Ratio (1.45 vs 1.04), 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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