Skip to content
etf.net

Launched · SEC filings

Invesco DB Oil Fund

DBONYSE ArcaInvescoB

$22.68−0.43 (−1.88%)

As of Nov 10, 2026, 11:10 AM ET

B67/ 100

Rank 3 of 11 in Energy Futures

B67/100Rank 3 of 11inEnergy Futures
Intraday session: down, 21 prints from 23.12 to 22.68. Range 22.42 to 22.71. Use the arrow keys to read each point.22.4022.6022.8023.0010 AM12 PM2 PM4 PM
Expense ratio
0.81%
Fund size
$286M
1Y total return
+83.8%
Yield · Last 12 months
1.85%
Holdings
5
Avg volume · 30D
521K sh
52W range
low $11.89high $27.48
Launched
Filings
SEC EDGAR

The ETF.net DBO Grade

Based on 5 of 6 pillars

B

Score 67 out of 100

Category
Energy Futures⁠
Rank
3 of 11
Six-pillar profile for DBO. Scores out of 100: Cost 74, Risk 54, Mission not scored, Tradability 66, Holdings 64, Durability 69. Strongest: Cost (74). Weakest: Risk (54). Based on 5 of 6 pillars.

Score 67 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    A74 out of 100
    Rank 3 of 11

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C54 out of 100
    Rank 5 of 11

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B66 out of 100
    Rank 2 of 11

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B64 out of 100
    Rank 2 of 5

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B69 out of 100
    Rank 3 of 11

Our read on DBO

ETF.net Research

In short

BOil exposure with a roll rule. DBO tracks a WTI crude futures index whose Optimum Yield design shops across contract months instead of camping in the front month, and it has run that way since 2007.

Stated mandate

The fund seeks to track positive or negative changes in the level of the DBIQ Optimum Yield Crude Oil Index Excess Return.

Why people hold it

  • The index picks the contract month its rules score as most favorable rather than automatically buying the nearest one, a design built to soften the drag of an upward-sloping futures curve.invesco.com
  • Charges 0.81% a year, meaningfully below the median for energy-futures funds in its group.
  • Launched in 2007 and traded through multiple oil booms and busts, it sits in the upper half of a small, well-known peer group.

Worth knowing

  • It's a commodity pool, so tax paperwork follows partnership rules rather than ordinary fund reporting. Peer OILK charges 0.69% and is built to skip that step.
  • You own a futures index, not a barrel. Results track the DBIQ Optimum Yield Crude Oil Index Excess Return and can diverge from headline spot crude.
  • One commodity, one curve. There are no operating businesses underneath to cushion a move in crude, and payouts come on an annual or semiannual schedule.

DBO Holdings

Holdings pillarB64 out of 100Rank 2 of 5 in Energy Futures
Asset class
Other
Holdings
5
Top-10 weight
202%
Largest holding
NYMEX Light Sweet Crude Oil Future 01/20/202799.8%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataNYMEX Light Sweet Crude Oil Future 01/20/202799.82%3,249$286M3
2AGPXXInvesco Government & Agency Portfolio80.26%229,898,368$230M246
3TBLLInvesco Short Term Treasury ETF18.88%511,500$54.1M6
4No dataCash Collateral2.70%7,721,385$7.72M27
5No dataUSD Pending Dividends0.06%0$159K241

Showing 1–5 of 5 holdings

DBO Performance

Launched Jan 5, 2007

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

DBO$18,376
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,339
Nov 7, 2025 to Nov 9, 2026. DBO $18,376. SPY $11,339. Use the arrow keys to read each point.$10,000$15,000$20,000Nov 2025May 2026Nov 2026

Nov 7, 2025 – Nov 9, 2026

Returns run to the Nov 9, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for DBO. Periods over one year show the average yearly return.
PeriodDBO
Year to date+89.5%
1 month−4.2%
3 months+18.0%
1 year+83.8%
3 yearsper year+19.1%
5 yearsper year+11.5%
10 yearsper year+12.4%

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for DBO
YearReturn barDBO
2026 YTD+89.5%
2025−11.8%
2024+7.9%
2023−4.5%
2022+13.0%

DBO in the news

DBO Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Nov 9, 2026.
1.85%Last 12 months
Payout per share
$0.43Last 12 months
Last payment
$0.43 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2017–2026

One bar per payment. 6 payments from 2017 to 2026 YTD. Dec 24, 2018 $0.13; Dec 23, 2019 $0.17; Dec 19, 2022 $0.10; Dec 18, 2023 $0.64; Dec 23, 2024 $0.67; Dec 22, 2025 $0.43. Use the arrow keys to read each point.2017201820192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Dec 22, 2025Dec 26, 2025$0.43
Dec 23, 2024Dec 27, 2024$0.67
Dec 18, 2023Dec 22, 2023$0.64
Dec 19, 2022Dec 23, 2022$0.10
Dec 23, 2019Dec 31, 2019$0.17
Dec 24, 2018Dec 31, 2018$0.13
Dec 15, 2008No data$0.12
Dec 17, 2007No data$1.28

— Pay date not on file.

$10,000 in DBO 10 years ago paid $2,661 in dividends.

DBO Risk

Risk pillarC54 out of 100Rank 5 of 11 in Energy Futures
How much the fund’s monthly returns vary, scaled to a year.
33.8%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.63
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−37.7%
Trough May 2025
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
1.77
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

DBO Cost

Compare DBO and OILK

Overpaying vs OILK, cheapest in Energy Futures

$1,912

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • DBO 0.81%

    $15,518

  • OILK 0.70% Cheapest

    $13,606

$10,000
30 years

Cost over time

  • DBO 0.81%
  • OILK 0.70%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530DBO $15,518OILK $13,606

Year by year

YearDBOOILKOverpaying
10$1,439$1,250$189
20$5,456$4,760$696
30$15,518$13,606$1,912

Other funds in Energy Futures

See others