DBO vs FMF

Comparison between Invesco DB Oil Fund (DBO, ETF) and FIRST TRUST MANAGED FUTURES STRATEGY FUND (FMF, ETF).

5-Year PerformanceDBO has outperformed FMF, delivering a return of +15.0% compared to +4.7%

DBO vs FMF - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	DBO(ETF)	FMF(ETF)
Net Assets	$257M	$258M
Expense Ratio	0.75%	0.98%
Max Drawdown	90.55%	24.79%
Sharpe Ratio	1.39	0.80
5Y Beta	0.13	0.10
5Y Dividends CAGR	44.55%	227.06%

Net Assets

DBO

$257M

Winner

FMF

$258M

Expense Ratio

Winner

DBO

0.75%

FMF

0.98%

Max Drawdown

DBO

90.55%

Winner

FMF

24.79%

Sharpe Ratio

Winner

DBO

1.39

FMF

0.80

5Y Beta

DBO

0.13

Winner

FMF

0.10

5Y Dividends CAGR

DBO

44.55%

Winner

FMF

227.06%

DBO vs FMF - Holdings Comparison

DBO and FMF have 0 common holdings. Overlap is 0.00%

DBO's top 25 holdings weight is 52.28%. FMF's top 25 holdings weight is 32.95%.

Rank	DBO	FMF
#1	INVESCO SHRT-TRM INV GOV&AGCY INSTL (AGPXX) - 41.45%	MORGAN STANLEY INSTL LQUDTY TRS INSTL (MISXX) - 32.95%
#2	INVESCO SHORT TERM TREASURY ETF (TBLL) - 10.83%	N/A
#3	N/A	N/A
#4	N/A	N/A
#5	N/A	N/A
#6	N/A	N/A
#7	N/A	N/A
#8	N/A	N/A
#9	N/A	N/A
#10	N/A	N/A
#11	N/A	N/A
#12	N/A	N/A
#13	N/A	N/A
#14	N/A	N/A
#15	N/A	N/A
#16	N/A	N/A
#17	N/A	N/A
#18	N/A	N/A
#19	N/A	N/A
#20	N/A	N/A
#21	N/A	N/A
#22	N/A	N/A
#23	N/A	N/A
#24	N/A	N/A
#25	N/A	N/A
Total Holdings	2	1

DBO vs FMF - Historical Returns

Returns include dividend reinvestment.

Period	DBO	FMF
1 month	-4.27%	-0.21%
3 months	-3.33%	-2.65%
6 months	+52.85%	+1.05%
1 year	+63.10%	+10.49%
5 years(CAGR)	+15.02%	+4.70%
10 years(CAGR)	+11.28%	+2.71%
Max(CAGR)	+0.50%	+1.85%

DBO

-4.27%

Winner

FMF

-0.21%

DBO

-3.33%

Winner

FMF

-2.65%

Winner

DBO

+52.85%

FMF

+1.05%

Winner

DBO

+63.10%

FMF

+10.49%

5Y(CAGR)

Winner

DBO

+15.02%

FMF

+4.70%

10Y(CAGR)

Winner

DBO

+11.28%

FMF

+2.71%

Max(CAGR)

DBO

+0.50%

Winner

FMF

+1.85%

DBO vs FMF - Annual Returns (2007 - 2026)

Returns include dividend reinvestment.

Year	DBO	FMF
2026	+78.72%	+6.90%
2025	-13.05%	+4.23%
2024	+8.56%	+7.67%
2023	-1.71%	-0.38%
2022	+11.47%	+4.68%
2021	+64.04%	+3.45%
2020	-21.14%	+5.25%
2019	+25.66%	-5.32%
2018	-15.51%	-2.31%
2017	+7.29%	+2.33%
2016	+6.73%	-4.09%
2015	-40.77%	-0.47%
2014	-41.74%	-1.10%
2013	+5.62%	+3.46%
2012	-12.57%	N/A
2011	+0.67%	N/A
2010	+0.46%	N/A
2009	+32.61%	N/A
2008	-45.80%	N/A
2007	+48.58%	N/A

DBO vs FMF Drawdown Comparison

The maximum drawdown for DBO was -90.18%, occurring on Apr 28, 2020. This drawdown has not yet recovered.

The maximum drawdown for FMF was -22.22%, occurring on Mar 24, 2020. Recovery took 2001 trading sessions.

The current DBO drawdown is -53.12%. The current FMF drawdown is -2.92%.

Rank	DBO	FMF
#1	-90.18% Jul 14, 2008 - Apr 28, 2020	-22.22% Apr 2, 2014 - Mar 14, 2022
#2	-11.30% Jan 3, 2008 - Feb 19, 2008	-14.98% Jun 14, 2022 - Oct 6, 2025
#3	-9.74% Jan 8, 2007 - Jan 31, 2007	-7.98% Mar 14, 2022 - Jun 9, 2022
#4	-8.93% May 21, 2008 - Jun 6, 2008	-4.51% May 18, 2026 - Jul 2, 2026
#5	-8.34% Nov 20, 2007 - Dec 27, 2007	-3.58% Dec 30, 2013 - Mar 27, 2014
#6	-8.16% Aug 2, 2007 - Sep 12, 2007	-3.42% Mar 12, 2026 - Apr 2, 2026
#7	-7.65% Mar 12, 2008 - Apr 7, 2008	-3.12% Oct 15, 2025 - Jan 9, 2026
#8	-6.06% Mar 29, 2007 - Jun 18, 2007	-2.31% Feb 11, 2026 - Feb 19, 2026
#9	-5.83% Apr 28, 2008 - May 5, 2008	-2.22% Aug 2, 2013 - Oct 10, 2013
#10	-5.60% Jul 3, 2008 - Jul 11, 2008	-1.69% Feb 4, 2026 - Feb 6, 2026
#11	-5.39% Mar 7, 2007 - Mar 28, 2007	-1.56% Jan 15, 2026 - Feb 3, 2026
#12	-5.36% Nov 9, 2007 - Nov 20, 2007	-1.47% Oct 22, 2013 - Nov 14, 2013
#13	-4.74% Jun 23, 2008 - Jul 1, 2008	-1.28% Apr 29, 2026 - May 12, 2026
#14	-3.79% Feb 28, 2007 - Mar 7, 2007	-1.27% Mar 2, 2026 - Mar 4, 2026
#15	-3.54% Oct 29, 2007 - Nov 2, 2007	-1.18% Oct 8, 2025 - Oct 13, 2025

Correlation

Correlation between DBO and FMF is 0.57 which considered as a moderate positive correlation - the stocks show some tendency to move together.

0.57

-101

Dividend Comparison (2007 - 2026)

DBO vs FMF dividend yield comparison.

Year	DBO	FMF
2026	0.00%	0.83%
2025	3.51%	5.60%
2024	4.68%	4.85%
2023	4.59%	3.09%
2022	0.66%	0.41%
2021	0.00%	3.29%
2020	0.00%	0.02%
2019	1.63%	1.05%
2018	1.58%	1.56%
2017	0.00%	0.82%
2013	0.00%	2.38%
2008	0.62%	0.00%
2007	3.69%	0.00%