XRPT vs. DBO

Last updated Jun 4, 2026

XRPT (Volatility Shares 2x XRP ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - XRPT is a Cryptocurrency fund actively managed by Volatility Shares, while DBO is a Oil & Gas fund tracking the DBIQ Optimum Yield Crude Oil Index Excess Return. XRPT is actively managed, while DBO is passively managed. Over the past year, XRPT returned -88.64% vs 80.26% for DBO. At a correlation of -0.06, they often move in opposite directions. XRPT charges 0.94%/yr vs 0.78%/yr for DBO.

Performance

XRPT vs. DBO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Volatility Shares 2x XRP ETF (XRPT) 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, XRPT achieves a -69.02% return, which is significantly lower than DBO's 84.75% return.

XRPT

• 1D: -2.94%
• 1M: -28.58%
• YTD: -69.02%
• 6M: -79.25%
• 1Y: -88.64%
• 3Y*: —
• 5Y*: —
• 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)

XRPT vs. DBO - Yearly Performance Comparison

	2026 (YTD)	2025
XRPT Volatility Shares 2x XRP ETF	-69.02%	-67.83%
DBO Invesco DB Oil Fund	84.75%	0.36%

Correlation

The correlation between XRPT 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 (1Y) Calculated over the trailing 1-year period	-0.06
Correlation (All Time) Calculated using the full available price history since May 23, 2025	-0.06

Return for Risk

XRPT vs. DBO — Risk / Return Rank

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

XRPT

XRPT Risk / Return Rank: 3
XRPT Sharpe Ratio Rank: 4
XRPT Sortino Ratio Rank: 3
XRPT Omega Ratio Rank: 3
XRPT Calmar Ratio Rank: 1
XRPT Martin Ratio Rank: 3

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.

XRPT vs. DBO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Volatility Shares 2x XRP ETF (XRPT) 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.

	XRPT	DBO	Difference
Sharpe ratio: Return per unit of total volatility	-0.59	2.34	-2.93
Sortino ratio: Return per unit of downside risk	-1.04	2.94	-3.97
Omega ratio: Gain probability vs. loss probability	0.89	1.38	-0.49
Calmar ratio: Return relative to maximum drawdown	-0.94	4.44	-5.37
Martin ratio: Return relative to average drawdown	-1.26	9.02	-10.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XRPT vs. DBO - Sharpe Ratio Comparison

The current XRPT Sharpe Ratio is -0.59, which is lower than the DBO Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of XRPT 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

	XRPT	DBO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.59	2.34	-2.93
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.50	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.36	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.60	0.02	-0.62

Drawdowns

XRPT vs. DBO - Drawdown Comparison

The maximum XRPT drawdown since its inception was -94.78%, which is greater than DBO's maximum drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for XRPT and DBO.

Drawdown Indicators

	XRPT	DBO	Difference
Max Drawdown Largest peak-to-trough decline	-94.78%	-90.18%	-4.60%
Max Drawdown (1Y) Largest decline over 1 year	-94.78%	-18.19%	-76.59%
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	-94.78%	-51.38%	-43.40%
Average Drawdown Average peak-to-trough decline	-62.98%	-62.25%	-0.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	70.21%	8.92%	+61.29%

Volatility

XRPT vs. DBO - Volatility Comparison

Volatility Shares 2x XRP ETF (XRPT) has a higher volatility of 27.96% compared to Invesco DB Oil Fund (DBO) at 12.61%. This indicates that XRPT'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

	XRPT	DBO	Difference
Volatility (1M) Calculated over the trailing 1-month period	27.96%	12.61%	+15.35%
Volatility (6M) Calculated over the trailing 6-month period	105.36%	28.20%	+77.16%
Volatility (1Y) Calculated over the trailing 1-year period	150.67%	34.46%	+116.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	149.42%	32.29%	+117.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	149.42%	31.78%	+117.64%

XRPT vs. DBO - Expense Ratio Comparison

XRPT has a 0.94% expense ratio, which is higher than DBO's 0.78% expense ratio.

Dividends

XRPT vs. DBO - Dividend Comparison

XRPT's dividend yield for the trailing twelve months is around 5.01%, more than DBO's 1.90% yield.

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%
XRPT Volatility Shares 2x XRP ETF	5.01%	1.23%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XRPT and DBO in my portfolio?

XRPT 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 is riskier, XRPT or DBO?

XRPT has higher volatility (27.96%) compared to DBO (12.61%). In terms of maximum drawdown, XRPT dropped -94.78% vs DBO's -90.18%.

Which ETF is better, XRPT or DBO?

On 1-year performance, DBO leads with 80.26% vs -88.64% for XRPT. On fees, DBO is cheaper at 0.78% per year. On volatility, DBO has been the lower-risk option at 12.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XRPT or DBO?

Over the 1-year period, DBO has performed better with a 80.26% return vs -88.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XRPT or DBO?

DBO is cheaper with a 0.78% expense ratio, compared with 0.94% for XRPT.

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

XRPT has the higher dividend yield at 5.01%, compared with 1.90% for DBO.

What is the main difference between XRPT and DBO?

XRPT is categorized as Cryptocurrency, while DBO is Oil & Gas. They also come from different issuers: Volatility Shares and Invesco. Their fees differ too: 0.94% for XRPT and 0.78% for DBO.

Which has better risk-adjusted returns?

DBO currently has the higher Sharpe Ratio (2.34 vs -0.59), 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.