Invesco Db Oil Fund's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Invesco Db Oil Fund (DBO) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Invesco Db Oil Fund vs Its Competitors
- TTM: Trailing 12-month revenue of 4M vs 54M combined for tracked competitors (6.2% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+228.2% annualized vs trailing 12 months), vs decelerating (-122.1%) for its tracked peer group.
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
Invesco Db Oil Fund vs. its Competitors, Q2 2026
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in an SEC filing; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Invesco Db Oil Fund and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Invesco Db Oil Fund | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Invesco Db Oil Fund's competitor groups requires a Commercial License.
For context: the Exchange Traded Funds Etf industry grew revenue 86.9% year over year, combined, vs 2,388.8% for Invesco Db Oil Fund. Invesco Db Oil Fund's share of combined industry revenue moved from 0.11% to 1.53%, a gain of 1.42 percentage points.
Invesco Db Oil Fund's Competitor Quality Breadth
Share of each group, trailing 12 months: profitable (net margin > 0), expanding (revenue growth > 0), growing faster than the industry's own median, and financially distressed (Piotroski F-Score of 2 or below).
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Invesco Db Oil Fund | Yes | - | - | Yes |
| Competitors combined (3) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
DBO Stock Performance relative to its Competitors
5 Best-Performing Tracked Competitors, Trailing 12 Months
| # | Competitor | TTM Share Price Return | vs U.S.A. 500 |
|---|---|---|---|
| 1 | United States Gasoline Fund Lp | 282.9% | Outperformed |
| 2 | United States Brent Oil Fund Lp | 282.9% | Outperformed |
| 3 | United States 12 month Natural Gas Fund Lp | 282.9% | Outperformed |
TTM share price return and U.S.A. 500 outperformance for Invesco Db Oil Fund's best-performing tracked competitors requires a Commercial License.
Source: CSIMarket API, trailing 12 months.
Invesco Db Oil Fund's Comment on Competition and Industry Peers
Publicly Traded Peers of Invesco Db Oil Fund
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
| Invesco Db Oil Fund | - | 3.59 |
| United States Brent Oil Fund Lp | 963.32 | 2.13 |
| United States Gasoline Fund Lp | 165.76 | 56.63 |
| United States 12 month Natural Gas Fund Lp | 14.72 | -4.26 |
| SUBTOTAL | 1,143.80 | 58.08 |
Sources: Invesco Db Oil Fund's official press releases and regulatory filings; CSIMarket.com's market research; and the financial filings and press releases of the other companies cited.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Invesco Db Oil Fund versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Invesco Db Oil Fund's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Invesco Db Oil Fund | - | - | - |
| United States Brent Oil Fund Lp | 963 | 1,065,699 | 27,691,582 |
| United States Gasoline Fund Lp | 166 | 28,313,435 | 66,437,254 |
| United States 12 month Natural Gas Fund Lp | 15 | -2,132,291 | 7,086,069 |
| PEERS TOTAL | 1,144 | 9,082,281 | 33,738,301 |
Invesco Db Oil Fund's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Exchange Traded Funds Etf industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (22 companies).| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | - | 88.17 % (avg) | - |
| Operating Margin | 212.43 % | industry median | +60.5 pp |
| EBITDA Margin | - | 37.37 % (avg) | - |
| Capital Intensity (Capex / Revenue) | 0.00 % | 0.22 % (avg) | -0.2 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Invesco Db Oil Fund's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in SEC filings.| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | - | -61.09 % | 500.00 % | -126.91 % | - | - | - | - |
| Operating Margin | 64.82 % | 252.37 % | -48.48 % | -13.02 % | 3.35 % | 25.81 % | - | 613.17 % |
| Return on Invested Capital | 2.34 % | 4.03 % | -8.69 % | 0.81 % | -0.19 % | 6.24 % | 0.24 % | 1.09 % |
| P/E | - | - | - | - | - | - | - | - |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Invesco Db Oil Fund's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Barriers to Entry | Lower than typical for the industry | Capital intensity (capex / revenue) of 0.00 % vs industry average 0.22 % (see Profitability & Cost Structure above) |
| Supplier Power | Not covered on this page | See Invesco Db Oil Fund's dedicated suppliers page for concentration and dependency data |
| Buyer Power | Not covered on this page | See Invesco Db Oil Fund's dedicated customers page for concentration and dependency data |
| Threat of Substitutes | - | No systematic data source for cross-product substitution exists in this system; not estimated |
Note: this is a partial, data-grounded application of the framework, not a complete strategic assessment. Rivalry and barriers-to-entry readings are mechanical translations of the HHI and capital-intensity figures shown elsewhere on this page, not independent judgments.
Invesco Db Oil Fund's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Operating margin 60.5 points above the industry median.
- Return on equity 23.2 points above the industry aggregate.
- Latest-quarter revenue run-rate is accelerating (+228.2% annualized vs trailing 12 months).
- Outperforming the U.S.A. 500 over the trailing 12 months.
Weaknesses
- Piotroski F-Score of 2 or below, the standard financial-distress signal.
Opportunities
- A meaningful share of tracked competitors (66.70 %) show financial-distress signals, a possible opening to gain share.
Threats
- Tracked peer group's revenue run-rate is broadly decelerating (-122.1% annualized).
Methodology: mechanical, rule-based SWOT. Each bullet reuses a figure already sourced and cited elsewhere on this page; nothing here is generated narrative or independent analyst judgment.
Invesco Db Oil Fund's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Invesco Db Oil Fund | - | 2.48 | - |
| United States Brent Oil Fund Lp | 2,790.55 | 853.23 | - |
| United States Gasoline Fund Lp | 728.47 | 730.08 | - |
| United States 12 month Natural Gas Fund Lp | 200.26 | 225.24 | - |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Invesco Db Oil Fund's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Invesco Db Oil Fund | Q2 2026 | +2,388.8 % | - |
| United States Brent Oil Fund Lp | Q2 2026 | - | - |
| United States Gasoline Fund Lp | Q2 2026 | - | - |
| United States 12 month Natural Gas Fund Lp | Q2 2026 | - | - |
| PEERS TOTAL | - | - |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Invesco Db Oil Fund's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Invesco Db Oil Fund | Q2 2026 | - | - |
| United States Brent Oil Fund Lp | Q2 2026 | - | - |
| United States Gasoline Fund Lp | Q2 2026 | - | - |
| United States 12 month Natural Gas Fund Lp | Q2 2026 | - | - |
Invesco Db Oil Fund's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Invesco Db Oil Fund | 41.25% | 21.16% | 42.45% |
| United States Brent Oil Fund Lp | 13.04% | 6.52% | 13.05% |
| United States Gasoline Fund Lp | 129.75% | 64.98% | 130.01% |
| United States 12 month Natural Gas Fund Lp | 90.91% | 45.69% | 91.41% |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Invesco Db Oil Fund's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Invesco Db Oil Fund | - | - |
| United States Brent Oil Fund Lp | 5.39 | 451.97 |
| United States Gasoline Fund Lp | 3.50 | 2.93 |
| United States 12 month Natural Gas Fund Lp | - | - |
| PEERS AVERAGE | 3.71 | 19.69 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.
