Invesco DB Oil Fund

10-Year Study

DBO.US · · US · ETF

Executive Summary: Invesco DB Oil Fund has compounded at 10.2% annually over the last 10 years, with a maximum drawdown of 57.6% and an annualized volatility of 25.6%.

1Y CAGR
+76.8%
3Y CAGR
+20.3%
5Y CAGR
+14.6%
10Y CAGR
+10.2%

History & Riski10-year historical performance analysis including CAGR, Max Drawdown, Sharpe & Sortino ratios, annual returns, and rolling volatility — all computed from daily market data.

10-Year Growth of $10,000

Max DrawdownMax DrawdownThe largest peak-to-trough decline in the asset's value over the measurement period.Click for full definition →
57.6%
Sharpe RatioSharpe RatioRisk-adjusted return: how much excess return you earn per unit of total risk (volatility).Click for full definition →
0.41
Sortino RatioSortino RatioLike Sharpe, but only penalizes downside volatility — a more accurate risk measure for asymmetric return distributions.Click for full definition →
0.63
Ann. VolatilityAnnualized VolatilityThe annualized standard deviation of an asset's returns — a measure of how much prices fluctuate.Click for full definition →
29.6%
Best YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2026 · +65.5%
Worst YearBest & Worst YearThe single calendar year with the highest and lowest return in the measured period.Click for full definition →
2020 · -21.0%
% Positive Years% Positive YearsThe percentage of calendar years in the measurement period where the asset delivered a positive return.Click for full definition →
60%

Annual Returns

Rolling 12-Month Returns

Rolling 12-Month Annualised Volatility

Historical Drawdowns

Monthly Returns

Monthly Returns Heatmap

YearJanFebMarAprMayJunJulAugSepOctNovDecAnn.
202615.02.936.22.6————————65.5%
20252.9-3.61.0-16.23.26.68.5-5.1-1.2-1.6-1.9-2.7-11.7%
20244.20.86.40.3-2.44.2-2.5-5.0-4.83.9-1.75.17.9%
2023-0.7-2.8-0.81.2-9.45.614.42.46.6-6.3-6.5-6.0-4.4%
202211.64.79.42.79.3-6.2-1.9-5.3-10.49.4-5.1-2.913.0%
20217.616.5-0.56.85.29.11.5-4.39.610.3-18.710.260.7%
2020-14.9-10.6-24.5-9.617.37.54.94.9-6.5-10.723.26.6-21.0%
201917.14.21.63.9-14.47.41.3-7.10.11.32.810.128.1%
20188.0-4.36.55.80.84.5-2.03.56.6-9.7-22.1-9.2-15.2%
2017-3.4-0.4-5.6-2.8-2.9-2.75.8-2.55.55.14.84.94.9%
2016———10.75.31.1-12.04.65.2-3.45.07.624.6%

Risk X-RayiA 19-factor macroeconomic risk decomposition showing exactly which market forces (equity beta, rates, inflation, credit, commodity, crypto) drive this asset's volatility. Powered by multivariate regression against daily factor returns.

Risk Profile Insight: This asset has an estimated annualized volatility of 25.6%. The dominant macroeconomic risk driver is USO.US, accounting for 89.8% of variance. Idiosyncratic stock-specific factors contribute 3.1%.

10-Year Historical Price Series (Growth of $10,000)
DateSimulated Value
2016-03-0110000
2016-04-0111068.256017007061
2016-05-0111660.16247817174
2016-06-0111788.930225495407
2016-07-0110373.244248728266
2016-08-0110849.441955812012
2016-09-0111415.685976767141
2016-10-0111029.534583554778
2016-11-0111583.02330878445
2016-12-0112458.127704806015
2017-01-0112033.40672690001
2017-02-0111981.929997722269
2017-03-0111312.732518411663
2017-04-0110990.964998861135
2017-05-0110669.197479310607
2017-06-0110386.151393212362
2017-07-0110990.964998861135
2017-08-0110720.674208488346
2017-09-0111312.732518411663
2017-10-0111891.883683850885
2017-11-0112458.127704806015
2017-12-0113063.093159213426
2018-01-0114105.534887252295
2018-02-0113500.569432844888
2018-03-0114375.825677625087
2018-04-0115212.360488953005
2018-05-0115341.128236276669
2018-06-0116035.988155796826
2018-07-0115714.220636246298
2018-08-0116267.709361475972
2018-09-0117348.720674208493
2018-10-0115662.743907068561
2018-11-0112200.744058917318
2018-12-0111075.544757421609
2019-01-0112971.528357755677
2019-02-0113520.765317743528
2019-03-0113743.071900387215
2019-04-0114279.0980183737
2019-05-0112226.254650368235
2019-06-0113128.388125427075
2019-07-0113298.45873509984
2019-08-0112356.996431554173
2019-09-0112370.055424796905
2019-10-0112526.915192468303
2019-11-0112879.96355629793
2019-12-0114182.522207880953
2020-01-0112069.09118517956
2020-02-0110792.954217599274
2020-03-018147.9006909118525
2020-04-017363.7537013134925
2020-05-018639.738820135146
2020-06-019291.018145926657
2020-07-019742.920051628578
2020-08-0110221.395490091869
2020-09-019556.905322298991
2020-10-018533.444689089667
2020-11-0110513.85619922557
2020-12-0111205.071748538458
2021-01-0112055.72849441956
2021-02-0114049.502695315465
2021-03-0113983.144787791362
2021-04-0114940.095664717943
2021-05-0115711.031812314935
2021-06-0117133.247285703437
2021-07-0117385.771771315773
2021-08-0116641.409156480146
2021-09-0118236.428517196873
2021-10-0120110.697745045934
2021-11-0116349.100296105082
2021-12-0118010.47756434591
2022-01-0120097.33505428593
2022-02-0121041.075089211146
2022-03-0123021.63844810569
2022-04-0123646.34424113583
2022-05-0125852.7067041227
2022-06-0124244.476501404602
2022-07-0123779.21190494268
2022-08-0122529.800318882397
2022-09-0120179.029686432314
2022-10-0122077.898413180472
2022-11-0120961.35449092704
2022-12-0120358.970465416445
2023-01-0120225.039860299144
2023-02-0119662.895755827198
2023-03-0119502.239769189888
2023-04-0119743.22374914585
2023-05-0117896.135449092704
2023-06-0118900.007592437934
2023-07-0121630.551970237644
2023-08-0122152.60800242958
2023-09-0123624.933566168096
2023-10-0122139.24531166958
2023-11-0120693.64512945107
2023-12-0119454.86295649533
2024-01-0120266.03902513097
2024-02-0120433.983752182827
2024-03-0121734.720218662213
2024-04-0121790.60056184041
2024-05-0121273.099992407562
2024-06-0122168.24842456913
2024-07-0121622.807683547184
2024-08-0120531.77435274467
2024-09-0119538.83532002126
2024-10-0120308.101131273255
2024-11-0119972.363525928176
2024-12-0120982.613317136133
2025-01-0121583.78255257763
2025-02-0120806.620605876546
2025-03-0121011.92012755296
2025-04-0117610.05238782173
2025-05-0118181.914812846404
2025-06-0119384.253283729406
2025-07-0121041.226937969783
2025-08-0119970.845038341813
2025-09-0119721.509376660848
2025-10-0119398.982613317137
2025-11-0119032.41970996887
2025-12-0118525.548553640572
2026-01-0121304.38083668666
2026-02-0121926.960747095894
2026-03-0129868.65082377952
2026-04-0130658.26436868879
Annual Return Matrix
YearAnnual Return
20170.04855990151505929
2018-0.15214990642472714
20190.28052592612904115
2020-0.20993800790158357
20210.6073504898971418
20220.13039592607581296
2023-0.0444083118277967
20240.07852794255385587
2025-0.11710003546073633
20260.6549180327868855
Total Factor Risk
0.25575206756597874
VTI.US Exposure
0.021488762685099354
VEA.US Exposure
0.019748576110383245
VWO.US Exposure
-0.0047670387480263235
QQQ.US Exposure
-0.01777433053225855
VTV.US Exposure
0.0033797550285242692
IJR.US Exposure
-0.00023166649194499443
QUAL.US Exposure
-0.0027898574463175005
SHV.US Exposure
0.03922867738325671
TLT.US Exposure
0.001304443325575347
LQD.US Exposure
0.002115867666964837
HYG.US Exposure
-0.0008708666578256494
GLD.US Exposure
0.00152507491050328
USO.US Exposure
0.8981593866020087
VNQ.US Exposure
0.001426118349273653
BTC-USD.CC Exposure
-0.0004363057069934159
CPER.US Exposure
-0.0000036202889133646572
VIX.INDX Exposure
0.0006146078115601726
UUP.US Exposure
-0.002806633938166256
TIP.US Exposure
0.009830453305052746
Idiosyncratic Exposure
0.030858596632243787
Value Score
50
Growth Score
50
Profit Score
37.5
Health Score
23.6
Yield Score
35.8
Moat Score
40

Factor Risk Decomposition

Share of annualised volatility attributable to each macro factor.

Total Est. Vol
25.6%

FundamentalsiCompany financial health metrics: P/E valuation, dividend yield, Piotroski F-Score (9-point profitability signal), Altman Z-Score (bankruptcy risk proxy), and a radar chart across 6 fundamental dimensions. Note: ETFs may show N/A for some metrics.

Fundamental Dimensions

Core Valuation

P/E Ratio (TTM)P/E RatioPrice-to-Earnings ratio — the market price of a stock divided by its earnings per share, a key valuation measure.Click for full definition →N/A
Dividend YieldDividend YieldAnnual dividend paid per share divided by the current share price — expressed as a percentage income return.Click for full definition →2.98%
Market Cap$0
Piotroski F-ScorePiotroski F-ScoreA 9-point scoring system evaluating a company's financial strength across profitability, leverage, and operating efficiency.Click for full definition →
9-point profitability signal
0.0/ 9
Weak
Altman Z-ScoreAltman Z-ScoreA bankruptcy prediction model that combines 5 financial ratios into a single score indicating financial distress risk.Click for full definition →
Bankruptcy risk proxy
1.18
Distress Zone
Income Simulation

Based on $10,000 initial investment.

Total Income Generated
$0
Avg Yield on Cost
0.00%

Momentum & MacroiPrice momentum indicators relative to key technical levels: distance from 50-Day SMA (intermediate trend), 200-Day SMA (long-term trend), 52-Week High (bullish proximity), and Beta (market sensitivity coefficient).

vs 50-Day SMAMoving Averages (SMA)A rolling average of an asset's price over a defined window — used to identify trends and momentum signals.Click for full definition →
+14.9%
Above/below 50-day moving average
vs 200-Day SMAMoving Averages (SMA)A rolling average of an asset's price over a defined window — used to identify trends and momentum signals.Click for full definition →
+44.3%
Above/below 200-day moving average
vs 52-Week High52-Week HighThe highest price an asset reached in the past 52 weeks — a key reference for momentum and valuation context.Click for full definition →
4.1% from high
Distance from 52-week high
BetaBetaA measure of an asset's sensitivity to broad market movements relative to a benchmark (e.g. S&P 500).Click for full definition →
1.13
Market sensitivity coefficient

Frequently Asked Questions & Methodology

Is Invesco DB Oil Fund a high-risk investment?

Invesco DB Oil Fund (DBO.US) has an annualized volatility of 25.6% and experienced a maximum drawdown of 57.6% over the last 10 years. Its primary macro risk driver is USO.US.

What is the 10-year return of DBO.US?

Over the past 10 years, DBO.US has generated a Compound Annual Growth Rate (CAGR) of 10.2%. It has had a positive return in 60% of the years measured.

Data Methodology & Trust

The risk and return information on this page is pre-calculated mathematically using daily market data spanning a 10-year period. Fundamentals (such as P/E Ratio, Market Cap, and Dividend Yield) represent trailing averages and may not immediately reflect real-time live market fluctuations. Advanced scoring models like the Piotroski F-Score and Altman Z-Score are proxies applied to publicly available trailing-twelve-month financial statements and may not account for recent off-balance-sheet events, qualitative company shifts, or sector-specific capital structures. Macroeconomic factor exposures are estimated via multivariate regression against standard market indices. This data is provided for quantitative insight and backtesting research, and should not be misconstrued as tailored financial advice.

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