XYZG vs. DBO

Last updated Jun 4, 2026

XYZG (Leverage Shares 2X Long XYZ Daily ETF) and DBO (Invesco DB Oil Fund) are both exchange-traded funds - XYZG is a Leveraged Equities fund actively managed by Leverage Shares, while DBO is a Oil & Gas fund tracking the DBIQ Optimum Yield Crude Oil Index Excess Return. XYZG is actively managed, while DBO is passively managed. Over the past year, XYZG returned -15.62% vs 80.26% for DBO. At a correlation of -0.09, they often move in opposite directions. XYZG charges 0.75%/yr vs 0.78%/yr for DBO.

Performance

XYZG vs. DBO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long XYZ Daily ETF (XYZG) 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, XYZG achieves a -3.28% return, which is significantly lower than DBO's 84.75% return.

XYZG

• 1D: -11.57%
• 1M: -8.12%
• YTD: -3.28%
• 6M: 8.21%
• 1Y: -15.62%
• 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)

XYZG vs. DBO - Yearly Performance Comparison

	2026 (YTD)	2025
XYZG Leverage Shares 2X Long XYZ Daily ETF	-3.28%	21.85%
DBO Invesco DB Oil Fund	84.75%	-1.37%

Correlation

The correlation between XYZG and DBO is -0.17, 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	-0.17
Correlation (All Time) Calculated using the full available price history since Apr 7, 2025	-0.09

Return for Risk

XYZG vs. DBO — Risk / Return Rank

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

XYZG

XYZG Risk / Return Rank: 9
XYZG Sharpe Ratio Rank: 7
XYZG Sortino Ratio Rank: 12
XYZG Omega Ratio Rank: 12
XYZG Calmar Ratio Rank: 7
XYZG Martin Ratio Rank: 7

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.

XYZG vs. DBO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long XYZ Daily ETF (XYZG) 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.

	XYZG	DBO	Difference
Sharpe ratio: Return per unit of total volatility	-0.17	2.34	-2.51
Sortino ratio: Return per unit of downside risk	0.40	2.94	-2.54
Omega ratio: Gain probability vs. loss probability	1.05	1.38	-0.33
Calmar ratio: Return relative to maximum drawdown	-0.23	4.44	-4.66
Martin ratio: Return relative to average drawdown	-0.42	9.02	-9.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XYZG vs. DBO - Sharpe Ratio Comparison

The current XYZG Sharpe Ratio is -0.17, which is lower than the DBO Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of XYZG 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

	XYZG	DBO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.17	2.34	-2.51
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	0.15	0.02	+0.13

Drawdowns

XYZG vs. DBO - Drawdown Comparison

The maximum XYZG drawdown since its inception was -69.40%, smaller than the maximum DBO drawdown of -90.18%. Use the drawdown chart below to compare losses from any high point for XYZG and DBO.

Drawdown Indicators

	XYZG	DBO	Difference
Max Drawdown Largest peak-to-trough decline	-69.40%	-90.18%	+20.78%
Max Drawdown (1Y) Largest decline over 1 year	-69.40%	-18.19%	-51.21%
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	-45.04%	-51.38%	+6.34%
Average Drawdown Average peak-to-trough decline	-29.06%	-62.25%	+33.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	37.60%	8.92%	+28.68%

Volatility

XYZG vs. DBO - Volatility Comparison

Leverage Shares 2X Long XYZ Daily ETF (XYZG) has a higher volatility of 25.78% compared to Invesco DB Oil Fund (DBO) at 12.61%. This indicates that XYZG'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

	XYZG	DBO	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.78%	12.61%	+13.17%
Volatility (6M) Calculated over the trailing 6-month period	70.80%	28.20%	+42.60%
Volatility (1Y) Calculated over the trailing 1-year period	92.87%	34.46%	+58.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	103.71%	32.29%	+71.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	103.71%	31.78%	+71.93%

XYZG vs. DBO - Expense Ratio Comparison

XYZG has a 0.75% expense ratio, which is lower than DBO's 0.78% expense ratio.

Dividends

XYZG vs. DBO - Dividend Comparison

XYZG's dividend yield for the trailing twelve months is around 6.92%, 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%
XYZG Leverage Shares 2X Long XYZ Daily ETF	6.92%	6.69%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XYZG and DBO in my portfolio?

XYZG and DBO have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XYZG or DBO?

XYZG has higher volatility (25.78%) compared to DBO (12.61%). In terms of maximum drawdown, XYZG dropped -69.40% vs DBO's -90.18%.

Which ETF is better, XYZG or DBO?

On 1-year performance, DBO leads with 80.26% vs -15.62% for XYZG. On fees, XYZG is cheaper at 0.75% 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, XYZG or DBO?

Over the 1-year period, DBO has performed better with a 80.26% return vs -15.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XYZG or DBO?

XYZG is cheaper with a 0.75% expense ratio, compared with 0.78% for DBO.

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

XYZG has the higher dividend yield at 6.92%, compared with 1.90% for DBO.

What is the main difference between XYZG and DBO?

XYZG is categorized as Leveraged Equities, while DBO is Oil & Gas. They also come from different issuers: Leverage Shares and Invesco. Their fees differ too: 0.75% for XYZG and 0.78% for DBO.

Which has better risk-adjusted returns?

DBO currently has the higher Sharpe Ratio (2.34 vs -0.17), 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.