DBO vs SPY

Comparison between Invesco DB Oil Fund (DBO, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceDBO has outperformed SPY, delivering a return of +14.8% compared to +13.3%

DBO vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	DBO(ETF)	SPY(ETF)
Net Assets	$323M	$735B
Expense Ratio	0.75%	0.09%
Max Drawdown	90.55%	56.47%
Sharpe Ratio	1.67	1.62
5Y Beta	0.26	1.00
P/E Ratio	N/A	28.99
Forward P/E	N/A	22.37
5Y Dividends CAGR	44.55%	5.43%
5Y EPS CAGR	N/A	26.05%
Debt to Equity	N/A	32.40%
P/S Ratio	N/A	3.74
P/B Ratio	N/A	5.61

Net Assets

DBO

$323M

Winner

SPY

$735B

Expense Ratio

DBO

0.75%

Winner

SPY

0.09%

Max Drawdown

DBO

90.55%

Winner

SPY

56.47%

Sharpe Ratio

Winner

DBO

1.67

SPY

1.62

5Y Beta

Winner

DBO

0.26

SPY

1.00

P/E Ratio

DBO

N/A

SPY

28.99

Forward P/E

DBO

N/A

SPY

22.37

5Y Dividends CAGR

Winner

DBO

44.55%

SPY

5.43%

5Y EPS CAGR

DBO

N/A

SPY

26.05%

Debt to Equity

DBO

N/A

SPY

32.40%

P/S Ratio

DBO

N/A

SPY

3.74

P/B Ratio

DBO

N/A

SPY

5.61

DBO vs SPY - Holdings Comparison

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

DBO's top 25 holdings weight is 53.34%. SPY's top 25 holdings weight is 52.37%.

Rank	DBO	SPY
#1	INVESCO SHRT-TRM INV GOV&AGCY INSTL (AGPXX) - 43.20%	NVIDIA CORP (NVDA) - 8.10%
#2	INVESCO SHORT TERM TREASURY ETF (TBLL) - 10.14%	APPLE INC (AAPL) - 7.02%
#3	N/A	MICROSOFT CORP (MSFT) - 4.79%
#4	N/A	AMAZON.COM INC (AMZN) - 4.02%
#5	N/A	ALPHABET INC CLASS A (GOOGL) - 3.51%
#6	N/A	BROADCOM INC (AVGO) - 3.10%
#7	N/A	ALPHABET INC CLASS C (GOOG) - 2.79%
#8	N/A	META PLATFORMS INC CLASS A (META) - 2.08%
#9	N/A	TESLA INC (TSLA) - 1.89%
#10	N/A	MICRON TECHNOLOGY INC (MU) - 1.56%
#11	N/A	BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.37%
#12	N/A	ELI LILLY AND CO (LLY) - 1.31%
#13	N/A	JPMORGAN CHASE & CO (JPM) - 1.28%
#14	N/A	ADVANCED MICRO DEVICES INC (AMD) - 1.27%
#15	N/A	EXXON MOBIL CORP (XOM) - 0.97%
#16	N/A	INTEL CORP (INTC) - 0.90%
#17	N/A	JOHNSON & JOHNSON (JNJ) - 0.86%
#18	N/A	VISA INC CLASS A (V) - 0.85%
#19	N/A	WALMART INC (WMT) - 0.81%
#20	N/A	CISCO SYSTEMS INC (CSCO) - 0.72%
#21	N/A	COSTCO WHOLESALE CORP (COST) - 0.69%
#22	N/A	CATERPILLAR INC (CAT) - 0.66%
#23	N/A	MASTERCARD INC CLASS A (MA) - 0.62%
#24	N/A	LAM RESEARCH CORP (LRCX) - 0.62%
#25	N/A	ABBVIE INC (ABBV) - 0.58%
Total Holdings	2	505

DBO vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	DBO	SPY
1 month	-5.37%	+1.90%
3 months	+27.39%	+8.55%
6 months	+69.50%	+8.18%
1 year	+72.12%	+25.79%
5 years(CAGR)	+14.84%	+13.32%
10 years(CAGR)	+10.65%	+15.19%
Max(CAGR)	+0.45%	+8.47%

DBO

-5.37%

Winner

SPY

+1.90%

Winner

DBO

+27.39%

SPY

+8.55%

Winner

DBO

+69.50%

SPY

+8.18%

Winner

DBO

+72.12%

SPY

+25.79%

5Y(CAGR)

Winner

DBO

+14.84%

SPY

+13.32%

10Y(CAGR)

DBO

+10.65%

Winner

SPY

+15.19%

Max(CAGR)

DBO

+0.45%

Winner

SPY

+8.47%

DBO vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	DBO	SPY
2026	+76.58%	+8.26%
2025	-13.05%	+18.00%
2024	+8.56%	+25.59%
2023	-1.71%	+26.72%
2022	+11.47%	-18.64%
2021	+64.04%	+30.52%
2020	-21.14%	+17.28%
2019	+25.66%	+31.09%
2018	-15.51%	-5.24%
2017	+7.29%	+20.78%
2016	+6.73%	+13.59%
2015	-40.77%	+1.31%
2014	-41.74%	+14.56%
2013	+5.62%	+29.00%
2012	-12.57%	+14.17%
2011	+0.67%	+0.85%
2010	+0.46%	+13.14%
2009	+32.61%	+22.67%
2008	-45.80%	-36.25%
2007	+48.58%	+5.32%
2006	N/A	+13.85%
2005	N/A	+5.32%
2004	N/A	+10.75%
2003	N/A	+24.18%
2002	N/A	-22.42%
2001	N/A	-10.13%
2000	N/A	-8.84%
1999	N/A	+8.61%

DBO vs SPY 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 SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current DBO drawdown is -53.68%. The current SPY drawdown is -2.90%.

Rank	DBO	SPY
#1	-90.18% Jul 14, 2008 - Apr 28, 2020	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-11.30% Jan 3, 2008 - Feb 19, 2008	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-9.74% Jan 8, 2007 - Jan 31, 2007	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-8.93% May 21, 2008 - Jun 6, 2008	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-8.34% Nov 20, 2007 - Dec 27, 2007	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	-8.16% Aug 2, 2007 - Sep 12, 2007	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	-7.65% Mar 12, 2008 - Apr 7, 2008	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	-6.06% Mar 29, 2007 - Jun 18, 2007	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	-5.83% Apr 28, 2008 - May 5, 2008	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	-5.60% Jul 3, 2008 - Jul 11, 2008	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	-5.39% Mar 7, 2007 - Mar 28, 2007	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	-5.36% Nov 9, 2007 - Nov 20, 2007	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	-4.74% Jun 23, 2008 - Jul 1, 2008	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	-3.79% Feb 28, 2007 - Mar 7, 2007	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	-3.54% Oct 29, 2007 - Nov 2, 2007	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between DBO and SPY is -0.41 which considered as a weak negative correlation - the stocks show a slight tendency to move in opposite directions.

-0.41

-101

Dividend Comparison (1999 - 2026)

DBO vs SPY dividend yield comparison.

Year	DBO	SPY
2026	0.00%	0.24%
2025	3.51%	1.07%
2024	4.68%	1.21%
2023	4.59%	1.40%
2022	0.66%	1.65%
2021	0.00%	1.20%
2020	0.00%	1.52%
2019	1.63%	1.75%
2018	1.58%	2.04%
2017	0.00%	1.80%
2016	0.00%	2.03%
2015	0.00%	2.06%
2014	0.00%	1.87%
2013	0.00%	1.81%
2012	0.00%	2.18%
2011	0.00%	2.05%
2010	0.00%	1.80%
2009	0.00%	1.95%
2008	0.62%	3.02%
2007	3.69%	1.85%
2006	0.00%	1.73%
2005	0.00%	1.73%
2004	0.00%	1.82%
2003	0.00%	1.47%
2002	0.00%	1.70%
2001	0.00%	1.25%
2000	0.00%	1.15%
1999	0.00%	0.24%

Select Stocks to Compare

First Stock

Second Stock

Popular: DBO vs SPY

More Comparisons

Compare with similar stocks

DBO vs SPY

DBO vs SPY - Performance Comparison

Key Characteristics

DBO vs SPY - Holdings Comparison

DBO vs SPY - Historical Returns

DBO vs SPY - Annual Returns (1999 - 2026)

DBO vs SPY Drawdown Comparison

Correlation

Dividend Comparison (1999 - 2026)

Select Stocks to Compare

More Comparisons

Compare DBO with:

Compare SPY with:

Popular suggestions: