WGS vs. DBO

Last updated Jun 4, 2026

WGS (GeneDx Holdings Corp.) is a stock, while DBO (Invesco DB Oil Fund) is Oil & Gas fund tracking the DBIQ Optimum Yield Crude Oil Index Excess Return. Over the past 5 years, WGS returned -33.09%/yr vs 15.98%/yr for DBO. At a 0.03 correlation, their price movements are largely independent.

Performance

WGS vs. DBO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in GeneDx Holdings Corp. (WGS) 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, WGS achieves a -59.23% return, which is significantly lower than DBO's 84.75% return.

WGS

• 1D: -0.21%
• 1M: -21.95%
• YTD: -59.23%
• 6M: -66.94%
• 1Y: -27.18%
• 3Y*: 101.82%
• 5Y*: -33.09%
• 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)

WGS vs. DBO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
WGS GeneDx Holdings Corp.	-59.23%	69.22%	2,694.91%	-68.41%	-94.09%	-59.60%	12.65%
DBO Invesco DB Oil Fund	84.75%	-11.71%	7.85%	-4.44%	13.04%	60.74%	20.77%

Correlation

The correlation between WGS and DBO is -0.20, 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	-0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.01
Correlation (5Y) Calculated over the trailing 5-year period	0.03
Correlation (All Time) Calculated using the full available price history since Nov 5, 2020	0.03

The correlation between WGS and DBO shifts across timeframes, from -0.20 (1 year) to 0.03 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

WGS vs. DBO — Risk / Return Rank

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

WGS

WGS Risk / Return Rank: 30
WGS Sharpe Ratio Rank: 27
WGS Sortino Ratio Rank: 33
WGS Omega Ratio Rank: 34
WGS Calmar Ratio Rank: 29
WGS Martin Ratio Rank: 26

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.

WGS vs. DBO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for GeneDx Holdings Corp. (WGS) 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.

	WGS	DBO	Difference
Sharpe ratio: Return per unit of total volatility	-0.33	2.34	-2.67
Sortino ratio: Return per unit of downside risk	0.14	2.94	-2.79
Omega ratio: Gain probability vs. loss probability	1.02	1.38	-0.35
Calmar ratio: Return relative to maximum drawdown	-0.34	4.44	-4.78
Martin ratio: Return relative to average drawdown	-0.74	9.02	-9.76
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WGS vs. DBO - Sharpe Ratio Comparison

The current WGS Sharpe Ratio is -0.33, which is lower than the DBO Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of WGS 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

	WGS	DBO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.33	2.34	-2.67
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.30	0.50	-0.80
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.36	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.26	0.02	-0.28

Drawdowns

WGS vs. DBO - Drawdown Comparison

The maximum WGS drawdown since its inception was -99.85%, which is greater than DBO's maximum drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for WGS and DBO.

Drawdown Indicators

	WGS	DBO	Difference
Max Drawdown Largest peak-to-trough decline	-99.85%	-90.18%	-9.67%
Max Drawdown (1Y) Largest decline over 1 year	-79.40%	-18.19%	-61.21%
Max Drawdown (3Y) Largest decline over 3 years	-84.28%	-28.20%	-56.08%
Max Drawdown (5Y) Largest decline over 5 years	-99.73%	-37.68%	-62.05%
Max Drawdown (10Y) Largest decline over 10 years	—	-61.69%	—
Current Drawdown Current decline from peak	-93.78%	-51.38%	-42.40%
Average Drawdown Average peak-to-trough decline	-83.36%	-62.25%	-21.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	36.97%	8.92%	+28.05%

Volatility

WGS vs. DBO - Volatility Comparison

GeneDx Holdings Corp. (WGS) has a higher volatility of 72.31% compared to Invesco DB Oil Fund (DBO) at 12.61%. This indicates that WGS'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

	WGS	DBO	Difference
Volatility (1M) Calculated over the trailing 1-month period	72.31%	12.61%	+59.70%
Volatility (6M) Calculated over the trailing 6-month period	83.67%	28.20%	+55.47%
Volatility (1Y) Calculated over the trailing 1-year period	83.86%	34.46%	+49.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	109.84%	32.29%	+77.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	107.46%	31.78%	+75.68%

Dividends

WGS vs. DBO - Dividend Comparison

WGS has not paid dividends to shareholders, while DBO's dividend yield for the trailing twelve months is around 1.90%.

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%
WGS GeneDx Holdings Corp.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both WGS and DBO in my portfolio?

WGS 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.

Which is riskier, WGS or DBO?

WGS has higher volatility (72.31%) compared to DBO (12.61%). In terms of maximum drawdown, WGS dropped -99.85% vs DBO's -90.18%.

Which has better risk-adjusted returns?

DBO currently has the higher Sharpe Ratio (2.34 vs -0.33), 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.