DBO ETF — Invesco DB Oil Fund

Invesco DB Oil Fund (DBO)

Updated October 16, 2026.

DBO is an ETF that tracks the DBIQ Optimum Yield Crude Oil Index Excess Return. its distribution rate is 1.65%, its trailing-12-month yield is 1.65%, its expense ratio is 0.75%. Dividend Vision Distribution Safety Score™ is 89/100 (Safe). Total return is 32.0% over the past 19.8 years, 646.5 points behind SPY at 678.5%.

Invesco DB Oil Fund is an ETF that tracks the DBIQ Optimum Yield Crude Oil Index Excess Return through investments in light, sweet crude oil (WTI) futures contracts. The fund carries a modest current distribution rate and makes annual distributions, with an expense ratio of 0.75%. It appeals to investors seeking commodity exposure and income from oil price movements rather than traditional equity or fixed-income investments.

DBO performance versus SPY

Price and return data through 2026-10-16.

Total return is 32.0% over the past 19.8 years, 646.5 points behind SPY at 678.5%. Over the past year its total return — price change plus distributions reinvested — is 117.4%. Its deepest 1-year drawdown was 27.7%.

DBO key facts

Distribution Safety Score™

89 · Safe

Safety-Adjusted Yield

1.47%

Issuer

Invesco

Asset type

ETF

Asset class

Commodity

Inception date

01/05/2007

Expense ratio

0.75%

Distribution rate

1.65%

Distribution frequency

Annual

Trailing yield

1.65%

Last close

$25.99 (as of 2026-10-16)

AUM

$276,878,704

Average volume

611447.0

Dividend

$0.428

Ex-dividend date

12/22/2025

Payment date

12/26/2025

Beta

1.78

How Dividend Vision calculates yield and returns

Distribution rate (1.65%) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (1.65%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: Invesco; Index: DBIQ Optimum Yield Crude Oil Index Excess Return; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

DBO risks and drawbacks

DBO's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Payments are annual, so cash flow is lumpy versus a monthly fund. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 27.7%.

Who may consider DBO — and who may not

DBO may suit someone looking for a high Distribution Safety Score. It is a weaker fit for investors who need monthly cash flow (DBO pays annual); investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on DBO

• All tickers starting with D

Tagged: Oil, Energy.

Frequently asked questions

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