DBO vs QQQ
Invesco DB Oil Fund vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. DBO delivered stronger 1-year returns. QQQ offers more diversification with 108 holdings.
Side-by-Side Comparison
| Metric | DBO | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.75% | 0.18% | |
| AUM | $250M | $496.3B | |
| Dividend Yield | 2.02% | 0.44% | |
| Holdings | 6 | 108 | |
| YTD Return | +81.59% | +16.23% | |
| 1Y Return | +70.93% | +26.23% | |
| 3Y Return (annualized) | +14.25% | +25.75% | |
| 5Y Return (annualized) | +16.32% | +14.78% | |
| Volatility (annualized) | 30.5% | 30.6% | |
| Max Drawdown | -90.2% | -83.0% | |
| Fund Family | Invesco (US) | Invesco (US) | |
| Category | Commodity | Equity | |
| Inception | Jan 5, 2007 | Mar 10, 1999 |
DBO vs QQQ Performance
Invesco DB Oil Fund (DBO) is a ETF from Invesco (US) and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year DBO returned +70.93% while QQQ returned +26.23%. Year to date, DBO is up 81.59% versus a gain of 16.23% for QQQ.
Over three years, DBO compounded at +14.25% per year against +25.75% for QQQ; over five years the annualized figures are +16.32% and +14.78% respectively. Across the full 20-year window we track, QQQ has the edge at +13.02% annualized vs +0.35%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 30.5% for DBO. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -90.2% for DBO and -83.0% for QQQ. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.32. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
DBO charges 0.75% per year while QQQ charges 0.18%. On a $10,000 position that is $75 vs $18 annually, a gap of $57 per year that compounds over a long holding period. On income, DBO currently yields 2.02% against 0.44% for QQQ.
Holdings Overlap
DBO and QQQ share 0 holdings out of 104 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, DBO or QQQ?
DBO has an expense ratio of 0.75% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $57 per year of difference.
Which performed better, DBO or QQQ?
Over the past year DBO returned +70.93% vs +26.23% for QQQ, so DBO leads on 1-year performance. Over the longest common window we track (20 years), DBO annualized +0.35% vs +13.02% for QQQ. Past performance does not guarantee future results.
Which is riskier, DBO or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 30.5% for DBO. Worst drawdown: DBO -90.2% vs QQQ -83.0%.
Should I hold both DBO and QQQ?
DBO and QQQ have a monthly-return correlation of 0.32, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between DBO and QQQ?
DBO and QQQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 104 unique securities.
Which pays a higher dividend, DBO or QQQ?
DBO yields 2.02% while QQQ yields 0.44%, so DBO currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.