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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 +15.0% compared to +12.8%

DBO vs SPY - Performance Comparison

Key Characteristics

Financial metrics and valuation ratios

Net Assets
DBO
$257M
Winner
SPY
$795B
Expense Ratio
DBO
0.75%
Winner
SPY
0.09%
Max Drawdown
DBO
90.55%
Winner
SPY
56.47%
Sharpe Ratio
Winner
DBO
1.39
SPY
1.28
5Y Beta
Winner
DBO
0.13
SPY
1.00
P/E Ratio
DBO
N/A
SPY
26.08
Forward P/E
DBO
N/A
SPY
20.95
PEG Ratio
DBO
N/A
SPY
0.37
5Y Dividends CAGR
Winner
DBO
44.55%
SPY
6.00%
5Y EPS CAGR
DBO
N/A
SPY
26.38%
Debt to Equity
DBO
N/A
SPY
45.86%
P/S Ratio
DBO
N/A
SPY
3.75
P/B Ratio
DBO
N/A
SPY
5.57

DBO vs SPY - Holdings Comparison

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

DBO's top 25 holdings weight is 52.28%. SPY's top 25 holdings weight is 51.61%.

RankDBOSPY
#1
INVESCO SHRT-TRM INV GOV&AGCY INSTL (AGPXX) - 41.45%
NVIDIA CORP (NVDA) - 7.90%
#2
INVESCO SHORT TERM TREASURY ETF (TBLL) - 10.83%
APPLE INC (AAPL) - 6.79%
#3N/A
MICROSOFT CORP (MSFT) - 5.64%
#4N/A
AMAZON.COM INC (AMZN) - 4.08%
#5N/A
ALPHABET INC CLASS A (GOOGL) - 3.14%
#6N/A
BROADCOM INC (AVGO) - 3.00%
#7N/A
ALPHABET INC CLASS C (GOOG) - 2.52%
#8N/A
META PLATFORMS INC CLASS A (META) - 1.96%
#9N/A
ELI LILLY AND CO (LLY) - 1.46%
#10N/A
MICRON TECHNOLOGY INC (MU) - 1.46%
#11N/A
BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.46%
#12N/A
JPMORGAN CHASE & CO (JPM) - 1.45%
#13N/A
TESLA INC (TSLA) - 1.40%
#14N/A
ADVANCED MICRO DEVICES INC (AMD) - 1.15%
#15N/A
EXXONMOBIL HOLDINGS CORP (XOM) - 0.99%
#16N/A
JOHNSON & JOHNSON (JNJ) - 0.94%
#17N/A
VISA INC CLASS A (V) - 0.90%
#18N/A
WALMART INC (WMT) - 0.74%
#19N/A
CISCO SYSTEMS INC (CSCO) - 0.73%
#20N/A
INTEL CORP (INTC) - 0.69%
#21N/A
MASTERCARD INC CLASS A (MA) - 0.68%
#22N/A
ABBVIE INC (ABBV) - 0.66%
#23N/A
COSTCO WHOLESALE CORP (COST) - 0.63%
#24N/A
APPLIED MATERIALS INC (AMAT) - 0.62%
#25N/A
BANK OF AMERICA CORP (BAC) - 0.62%
Total Holdings2505

DBO vs SPY - Historical Returns

Returns include dividend reinvestment.

1M
DBO
-4.27%
Winner
SPY
+3.32%
3M
DBO
-3.33%
Winner
SPY
+2.65%
6M
Winner
DBO
+52.85%
SPY
+11.67%
1Y
Winner
DBO
+63.10%
SPY
+20.15%
5Y(CAGR)
Winner
DBO
+15.02%
SPY
+12.77%
10Y(CAGR)
DBO
+11.28%
Winner
SPY
+15.20%
Max(CAGR)
DBO
+0.50%
Winner
SPY
+8.55%

DBO vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

YearDBOSPY
2026+78.72%+12.35%
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%
2006N/A+13.85%
2005N/A+5.32%
2004N/A+10.75%
2003N/A+24.18%
2002N/A-22.42%
2001N/A-10.13%
2000N/A-8.84%
1999N/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 -53.12%. The current SPY drawdown is -1.85%.

RankDBOSPY
#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 -0.39 which considered as a weak negative correlation - the stocks show a slight tendency to move in opposite directions.

-0.39
-101

Dividend Comparison (1999 - 2026)

DBO vs SPY dividend yield comparison.

YearDBOSPY
20260.00%0.48%
20253.51%1.07%
20244.68%1.21%
20234.59%1.40%
20220.66%1.65%
20210.00%1.20%
20200.00%1.52%
20191.63%1.75%
20181.58%2.04%
20170.00%1.80%
20160.00%2.03%
20150.00%2.06%
20140.00%1.87%
20130.00%1.81%
20120.00%2.18%
20110.00%2.05%
20100.00%1.80%
20090.00%1.95%
20080.62%3.02%
20073.69%1.85%
20060.00%1.73%
20050.00%1.73%
20040.00%1.82%
20030.00%1.47%
20020.00%1.70%
20010.00%1.25%
20000.00%1.15%
19990.00%0.24%

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