XNTK vs. DBO

Last updated Jun 5, 2026

XNTK (SPDR NYSE Technology ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - XNTK is a Technology Equities fund tracking the NYSE Technology 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, XNTK returned 25.57%/yr vs 10.89%/yr for DBO. At a 0.24 correlation, their price movements are largely independent. XNTK charges 0.35%/yr vs 0.78%/yr for DBO.

Performance

XNTK vs. DBO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR NYSE Technology ETF (XNTK) 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, XNTK achieves a 37.92% return, which is significantly lower than DBO's 79.84% return. Over the past 10 years, XNTK has outperformed DBO with an annualized return of 25.57%, while DBO has yielded a comparatively lower 10.89% annualized return.

XNTK

• 1D: -1.00%
• 1M: 18.67%
• YTD: 37.92%
• 6M: 36.17%
• 1Y: 73.92%
• 3Y*: 42.75%
• 5Y*: 21.11%
• 10Y*: 25.57%

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)

XNTK vs. DBO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XNTK SPDR NYSE Technology ETF	37.92%	38.06%	23.49%	70.13%	-41.07%	17.63%	73.91%	38.08%	-7.13%	40.37%
DBO Invesco DB Oil Fund	79.84%	-11.71%	7.85%	-4.44%	13.04%	60.74%	-20.99%	28.05%	-15.22%	4.86%

Correlation

The correlation between XNTK 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	0.07
Correlation (10Y) Calculated over the trailing 10-year period	0.15
Correlation (All Time) Calculated using the full available price history since Jan 8, 2007	0.24

The correlation between XNTK and DBO shifts across timeframes, from -0.20 (1 year) to 0.24 (all time), reflecting how their relationship changes across market environments.

XNTK vs. DBO - Sectors Allocation Comparison

Sectors	XNTK	DBO
Technology	80.9%	-
Communication Services	9.8%	-
Consumer Cyclical	9.3%	-
Basic Materials	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	116.0%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

XNTK vs. DBO — Risk / Return Rank

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

XNTK

XNTK Risk / Return Rank: 84
XNTK Sharpe Ratio Rank: 91
XNTK Sortino Ratio Rank: 86
XNTK Omega Ratio Rank: 84
XNTK Calmar Ratio Rank: 83
XNTK Martin Ratio Rank: 77

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.

XNTK vs. DBO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR NYSE Technology ETF (XNTK) 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.

	XNTK	DBO	Difference
Sharpe ratio: Return per unit of total volatility	3.19	2.25	+0.94
Sortino ratio: Return per unit of downside risk	3.80	2.85	+0.95
Omega ratio: Gain probability vs. loss probability	1.51	1.36	+0.15
Calmar ratio: Return relative to maximum drawdown	4.37	4.28	+0.09
Martin ratio: Return relative to average drawdown	14.56	8.69	+5.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XNTK vs. DBO - Sharpe Ratio Comparison

The current XNTK Sharpe Ratio is 3.19, which is higher than the DBO Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of XNTK 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

	XNTK	DBO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.19	2.25	+0.94
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	0.48	+0.28
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.96	0.34	+0.62
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.02	+0.43

Drawdowns

XNTK vs. DBO - Drawdown Comparison

The maximum XNTK drawdown since its inception was -72.38%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for XNTK and DBO.

Drawdown Indicators

	XNTK	DBO	Difference
Max Drawdown Largest peak-to-trough decline	-72.38%	-90.18%	+17.80%
Max Drawdown (1Y) Largest decline over 1 year	-17.00%	-18.19%	+1.19%
Max Drawdown (3Y) Largest decline over 3 years	-28.11%	-28.20%	+0.09%
Max Drawdown (5Y) Largest decline over 5 years	-48.28%	-37.68%	-10.60%
Max Drawdown (10Y) Largest decline over 10 years	-48.28%	-61.69%	+13.41%
Current Drawdown Current decline from peak	-1.07%	-52.68%	+51.61%
Average Drawdown Average peak-to-trough decline	-21.30%	-62.25%	+40.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.09%	8.94%	-3.85%

Volatility

XNTK vs. DBO - Volatility Comparison

The current volatility for SPDR NYSE Technology ETF (XNTK) is 7.65%, while Invesco DB Oil Fund (DBO) has a volatility of 12.79%. This indicates that XNTK 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

	XNTK	DBO	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.65%	12.79%	-5.14%
Volatility (6M) Calculated over the trailing 6-month period	18.06%	28.32%	-10.26%
Volatility (1Y) Calculated over the trailing 1-year period	23.31%	34.58%	-11.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.90%	32.31%	-4.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.63%	31.79%	-5.16%

XNTK vs. DBO - Expense Ratio Comparison

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

Dividends

XNTK vs. DBO - Dividend Comparison

XNTK's dividend yield for the trailing twelve months is around 0.17%, less than DBO's 1.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DBO Invesco DB Oil Fund	1.95%	3.51%	4.68%	4.59%	0.66%	0.00%	0.00%	1.63%	1.58%	0.00%	0.00%	0.00%
XNTK SPDR NYSE Technology ETF	0.17%	0.23%	0.42%	0.34%	0.85%	0.34%	0.30%	0.61%	29.64%	1.29%	0.81%	0.93%

Frequently Asked Questions

Can I hold both XNTK and DBO in my portfolio?

XNTK 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, XNTK or DBO?

DBO has higher volatility (12.79%) compared to XNTK (7.65%). In terms of maximum drawdown, XNTK dropped -72.38% vs DBO's -90.18%.

Which ETF is better, XNTK or DBO?

On 10-year performance, XNTK leads with 25.57% vs 10.89% for DBO. On fees, XNTK is cheaper at 0.35% per year. On volatility, XNTK has been the lower-risk option at 7.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XNTK or DBO?

Over the 10-year period, XNTK has performed better with a 25.57% return vs 10.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XNTK or DBO?

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

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

DBO has the higher dividend yield at 1.95%, compared with 0.17% for XNTK.

What is the main difference between XNTK and DBO?

XNTK is categorized as Technology Equities, while DBO is Oil & Gas. XNTK tracks NYSE Technology Index, while DBO tracks DBIQ Optimum Yield Crude Oil Index Excess Return. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.35% for XNTK and 0.78% for DBO.

Which has better risk-adjusted returns?

XNTK currently has the higher Sharpe Ratio (3.19 vs 2.25), 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.