WBIL vs. DBO
WBIL (WBI BullBear Quality 3000 ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - WBIL is a Quality Factor fund actively managed by WBI, while DBO is a Oil & Gas fund tracking the DBIQ Optimum Yield Crude Oil Index Excess Return. WBIL is actively managed, while DBO is passively managed. Over the past 10 years, WBIL returned 6.81%/yr vs 12.59%/yr for DBO. Their 0.17 correlation means their historical movements had little consistent relationship. WBIL charges 1.23%/yr vs 0.78%/yr for DBO.
Performance
WBIL vs. DBO - Performance Comparison
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Returns By Period
In the year-to-date period, WBIL achieves a 14.12% return, which is significantly lower than DBO's 76.48% return. Over the past 10 years, WBIL has underperformed DBO with an annualized return of 6.81%, while DBO has yielded a comparatively higher 12.59% annualized return.
WBIL
- 1D
- 0.05%
- 1M
- 0.40%
- 6M
- 11.81%
- YTD
- 14.12%
- 1Y
- 23.15%
- 3Y*
- 9.68%
- 5Y*
- 5.65%
- 10Y*
- 6.81%
- ALL TIME*
- 4.53%
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 | |
| $942.72K | $463.08K | $209.08K |
WBIL vs. DBO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WBIL WBI BullBear Quality 3000 ETF | 14.12% | -0.47% | 13.29% | 11.79% | -9.60% | 18.67% | -2.19% | 11.65% | -9.67% | 19.31% |
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 WBIL and DBO is -0.20, 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. | -0.20 |
Correlation (3Y) Balances recent behavior with more history. | -0.06 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.08 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.15 |
Correlation (All Time) Calculated using the full available price history since Aug 27, 2014 | 0.17 |
The correlation between WBIL and DBO shifts across timeframes, from -0.20 (1 year) to 0.17 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
WBIL vs. DBO — Risk / Return Rank
WBIL
DBO
WBIL vs. DBO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WBI BullBear Quality 3000 ETF (WBIL) 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.
| WBIL | DBO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.04 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.25 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.22 | 2.01 | +0.22 |
| Martin ratioReturn relative to average drawdown | 8.47 | 6.09 | +2.38 |
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Drawdowns
WBIL vs. DBO - Drawdown Comparison
The maximum WBIL drawdown since its inception was -25.30%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for WBIL and DBO.
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Drawdown Indicators
| WBIL | DBO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.30% | -90.18% | +64.88% |
Max Drawdown (1Y)Largest decline over 1 year | -9.85% | -27.73% | +17.88% |
Max Drawdown (3Y)Largest decline over 3 years | -25.30% | -28.20% | +2.90% |
Max Drawdown (5Y)Largest decline over 5 years | -25.30% | -37.68% | +12.38% |
Max Drawdown (10Y)Largest decline over 10 years | -25.30% | -61.69% | +36.39% |
Current DrawdownCurrent decline from peak | -2.76% | -53.56% | +50.80% |
Average DrawdownAverage peak-to-trough decline | -6.93% | -62.20% | +55.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.58% | 9.96% | -7.38% |
Volatility
WBIL vs. DBO - Volatility Comparison
The current volatility for WBI BullBear Quality 3000 ETF (WBIL) is 3.43%, while Invesco DB Oil Fund (DBO) has a volatility of 17.75%. This indicates that WBIL 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
| WBIL | DBO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.43% | 17.75% | -14.32% |
Volatility (6M)Calculated over the trailing 6-month period | 12.24% | 33.77% | -21.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.58% | 38.53% | -22.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.89% | 33.35% | -19.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.82% | 32.20% | -19.38% |
WBIL vs. DBO - Expense Ratio Comparison
WBIL has a 1.23% expense ratio, which is higher than DBO's 0.78% expense ratio.
Dividends
WBIL vs. DBO - Dividend Comparison
WBIL's dividend yield for the trailing twelve months is around 0.04%, 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% |
WBIL WBI BullBear Quality 3000 ETF | 0.04% | 0.05% | 0.07% | 0.29% | 1.03% | 2.02% | 0.19% | 0.73% | 0.75% | 0.83% | 0.58% | 0.20% |
Frequently Asked Questions
WBIL and DBO have a correlation of -0.20, 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 WBIL (3.43%). In terms of maximum drawdown, WBIL dropped -25.30% vs DBO's -90.18%.
On 10-year performance, DBO leads with 12.59% vs 6.81% for WBIL. On fees, DBO is cheaper at 0.78% per year. On volatility, WBIL has been the lower-risk option at 3.43%. 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 6.81%. 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 1.23% for WBIL.
DBO has the higher dividend yield at 1.99%, compared with 0.04% for WBIL.
WBIL is categorized as Quality Factor, while DBO is Oil & Gas. They also come from different issuers: WBI and Invesco. Their fees differ too: 1.23% for WBIL and 0.78% for DBO.
DBO currently has the higher Sharpe Ratio (1.45 vs 1.41), 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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