XLUI vs. DBO

Last updated Jun 5, 2026

XLUI (State Street Utilities Select Sector SPDR Premium Income ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - XLUI is a Utilities Equities fund actively managed by State Street, while DBO is a Oil & Gas fund tracking the DBIQ Optimum Yield Crude Oil Index Excess Return. XLUI is actively managed, while DBO is passively managed. At a correlation of -0.06, they often move in opposite directions. XLUI charges 0.35%/yr vs 0.78%/yr for DBO.

Performance

XLUI vs. DBO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Utilities Select Sector SPDR Premium Income ETF (XLUI) 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, XLUI achieves a 5.42% return, which is significantly lower than DBO's 79.84% return.

XLUI

• 1D: 0.41%
• 1M: -3.64%
• YTD: 5.42%
• 6M: 4.31%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DBO

• 1D: -2.66%
• 1M: -3.39%
• YTD: 79.84%
• 6M: 74.51%
• 1Y: 77.38%
• 3Y*: 20.83%
• 5Y*: 15.36%
• 10Y*: 10.89%

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

XLUI vs. DBO - Yearly Performance Comparison

	2026 (YTD)	2025
XLUI State Street Utilities Select Sector SPDR Premium Income ETF	5.42%	0.51%
DBO Invesco DB Oil Fund	79.84%	-13.28%

Correlation

The correlation between XLUI and DBO is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 31, 2025	-0.06

XLUI vs. DBO - Sectors Allocation Comparison

Sectors	XLUI	DBO
Financial Services	100.0%	116.0%
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

XLUI vs. DBO — Risk / Return Rank

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

DBO

DBO Risk / Return Rank: 65
DBO Sharpe Ratio Rank: 70
DBO Sortino Ratio Rank: 62
DBO Omega Ratio Rank: 61
DBO Calmar Ratio Rank: 82
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.

XLUI vs. DBO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Utilities Select Sector SPDR Premium Income ETF (XLUI) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	XLUI	DBO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.25	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.48	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.34	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.02	+0.62

Drawdowns

XLUI vs. DBO - Drawdown Comparison

The maximum XLUI drawdown since its inception was -6.01%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for XLUI and DBO.

Drawdown Indicators

	XLUI	DBO	Difference
Max Drawdown Largest peak-to-trough decline	-6.01%	-90.18%	+84.17%
Max Drawdown (1Y) Largest decline over 1 year	—	-18.19%	—
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	-4.21%	-52.68%	+48.47%
Average Drawdown Average peak-to-trough decline	-1.93%	-62.25%	+60.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	8.94%	—

Volatility

Volatility by Period

	XLUI	DBO	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	12.79%	—
Volatility (6M) Calculated over the trailing 6-month period	—	28.32%	—
Volatility (1Y) Calculated over the trailing 1-year period	11.10%	34.58%	-23.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.10%	32.31%	-21.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.10%	31.79%	-20.69%

XLUI vs. DBO - Expense Ratio Comparison

XLUI has a 0.35% expense ratio, which is lower than DBO's 0.78% expense ratio.

Dividends

XLUI vs. DBO - Dividend Comparison

XLUI's dividend yield for the trailing twelve months is around 12.76%, more than DBO's 1.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DBO Invesco DB Oil Fund	1.95%	3.51%	4.68%	4.59%	0.66%	0.00%	0.00%	1.63%	1.58%
XLUI State Street Utilities Select Sector SPDR Premium Income ETF	12.76%	7.12%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XLUI and DBO in my portfolio?

XLUI and DBO have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XLUI or DBO?

On fees, XLUI is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XLUI or DBO?

XLUI is cheaper with a 0.35% expense ratio, compared with 0.78% for DBO.

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

XLUI has the higher dividend yield at 12.76%, compared with 1.95% for DBO.

What is the main difference between XLUI and DBO?

XLUI is categorized as Utilities Equities, while DBO is Oil & Gas. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.35% for XLUI and 0.78% for DBO.