XSVM vs. DBO
XSVM (Invesco S&P SmallCap Value with Momentum ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - XSVM is a Momentum fund tracking the S&P SmallCap 600 High Momentum Value 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, XSVM returned 13.04%/yr vs 11.43%/yr for DBO. Their 0.29 correlation means their historical movements had little consistent relationship. XSVM charges 0.37%/yr vs 0.78%/yr for DBO.
Performance
XSVM vs. DBO - Performance Comparison
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Returns By Period
In the year-to-date period, XSVM achieves a 27.31% return, which is significantly lower than DBO's 66.72% return. Over the past 10 years, XSVM has outperformed DBO with an annualized return of 13.04%, while DBO has yielded a comparatively lower 11.43% annualized return.
XSVM
- 1D
- 1.19%
- 1M
- 3.59%
- 6M
- 17.18%
- YTD
- 27.31%
- 1Y
- 43.31%
- 3Y*
- 15.08%
- 5Y*
- 10.26%
- 10Y*
- 13.04%
- ALL TIME*
- 9.38%
DBO
- 1D
- -5.53%
- 1M
- 17.71%
- 6M
- 53.16%
- YTD
- 66.72%
- 1Y
- 51.44%
- 3Y*
- 12.33%
- 5Y*
- 13.64%
- 10Y*
- 11.43%
- ALL TIME*
- 0.22%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $11.34M | $10.71M | $13.49M | |
| $2.64M | $2.37M | $2.08M |
XSVM vs. DBO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XSVM Invesco S&P SmallCap Value with Momentum ETF | 27.31% | 7.47% | 2.30% | 20.20% | -13.63% | 56.36% | 5.08% | 30.01% | -12.33% | 3.62% |
DBO Invesco DB Oil Fund | 66.72% | -11.71% | 7.85% | -4.44% | 13.04% | 60.74% | -20.99% | 28.05% | -15.22% | 4.86% |
Correlation
The correlation between XSVM and DBO is -0.29, 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. | -0.29 |
Correlation (3Y) Balances recent behavior with more history. | -0.01 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.14 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.24 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 2007 | 0.29 |
The correlation between XSVM and DBO shifts across timeframes, from -0.29 (1 year) to 0.29 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XSVM vs. DBO — Risk / Return Rank
XSVM
DBO
XSVM vs. DBO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Value with Momentum ETF (XSVM) 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.
| XSVM | DBO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.11 | ||
| Sortino ratioReturn per unit of downside risk | +1.61 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.23 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 4.32 | 1.86 | +2.45 |
| Martin ratioReturn relative to average drawdown | 13.79 | 5.64 | +8.15 |
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Drawdowns
XSVM vs. DBO - Drawdown Comparison
The maximum XSVM drawdown since its inception was -62.57%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for XSVM and DBO.
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Drawdown Indicators
| XSVM | DBO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.57% | -90.18% | +27.61% |
Max Drawdown (1Y)Largest decline over 1 year | -10.08% | -27.73% | +17.65% |
Max Drawdown (3Y)Largest decline over 3 years | -26.21% | -28.20% | +1.99% |
Max Drawdown (5Y)Largest decline over 5 years | -26.21% | -37.68% | +11.47% |
Max Drawdown (10Y)Largest decline over 10 years | -49.02% | -61.69% | +12.67% |
Current DrawdownCurrent decline from peak | -0.28% | -56.13% | +55.85% |
Average DrawdownAverage peak-to-trough decline | -11.48% | -62.20% | +50.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.15% | 9.16% | -6.01% |
Volatility
XSVM vs. DBO - Volatility Comparison
The current volatility for Invesco S&P SmallCap Value with Momentum ETF (XSVM) is 4.25%, while Invesco DB Oil Fund (DBO) has a volatility of 18.99%. This indicates that XSVM 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
| XSVM | DBO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.25% | 18.99% | -14.74% |
Volatility (6M)Calculated over the trailing 6-month period | 11.78% | 34.30% | -22.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.83% | 38.86% | -21.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.34% | 33.43% | -11.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.01% | 32.24% | -7.23% |
XSVM vs. DBO - Expense Ratio Comparison
XSVM has a 0.37% expense ratio, which is lower than DBO's 0.78% expense ratio.
Dividends
XSVM vs. DBO - Dividend Comparison
XSVM's dividend yield for the trailing twelve months is around 1.73%, less than DBO's 2.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBO Invesco DB Oil Fund | 2.11% | 3.51% | 4.68% | 4.59% | 0.66% | 0.00% | 0.00% | 1.63% | 1.58% | 0.00% | 0.00% | 0.00% |
XSVM Invesco S&P SmallCap Value with Momentum ETF | 1.73% | 2.29% | 1.69% | 1.31% | 1.79% | 1.23% | 1.21% | 1.22% | 2.54% | 1.90% | 2.29% | 2.68% |
Frequently Asked Questions
XSVM and DBO have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBO has higher volatility (18.99%) compared to XSVM (4.25%). In terms of maximum drawdown, XSVM dropped -62.57% vs DBO's -90.18%.
On 10-year performance, XSVM leads with 13.04% vs 11.43% for DBO. On fees, XSVM is cheaper at 0.37% per year. On volatility, XSVM has been the lower-risk option at 4.25%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, XSVM has performed better with a 13.04% return vs 11.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XSVM is cheaper with a 0.37% expense ratio, compared with 0.78% for DBO.
DBO has the higher dividend yield at 2.11%, compared with 1.73% for XSVM.
XSVM is categorized as Momentum, while DBO is Oil & Gas. XSVM tracks S&P SmallCap 600 High Momentum Value Index, while DBO tracks DBIQ Optimum Yield Crude Oil Index Excess Return. Their fees differ too: 0.37% for XSVM and 0.78% for DBO.
XSVM currently has the higher Sharpe Ratio (2.45 vs 1.33), 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.
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