AAPB vs. DBE
AAPB (GraniteShares 2x Long AAPL Daily ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - AAPB is a Leveraged Equities fund actively managed by GraniteShares, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. AAPB is actively managed, while DBE is passively managed. Over the past 3 years, AAPB returned 20.47%/yr vs 17.83%/yr for DBE. At a correlation of -0.00, they often move in opposite directions. AAPB charges 1.15%/yr vs 0.78%/yr for DBE.
Performance
AAPB vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, AAPB achieves a 24.90% return, which is significantly lower than DBE's 69.05% return.
AAPB
- 1D
- -1.57%
- 1M
- 15.15%
- 6M
- 36.26%
- YTD
- 24.90%
- 1Y
- 101.58%
- 3Y*
- 20.47%
- 5Y*
- —
- 10Y*
- —
DBE
- 1D
- 1.79%
- 1M
- 0.60%
- 6M
- 61.38%
- YTD
- 69.05%
- 1Y
- 57.89%
- 3Y*
- 17.83%
- 5Y*
- 17.23%
- 10Y*
- 11.34%
AAPB vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
AAPB GraniteShares 2x Long AAPL Daily ETF | 24.90% | -0.93% | 47.02% | 77.21% | -38.60% |
DBE Invesco DB Energy Fund | 69.05% | -2.17% | 2.96% | -12.14% | -5.63% |
Correlation
The correlation between AAPB and DBE is -0.22, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.22 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (All Time) Calculated using the full available price history since Aug 9, 2022 | -0.00 |
Over the past year, the inverse relationship between AAPB and DBE has strengthened: their correlation has moved from -0.00 to -0.22, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
AAPB vs. DBE — Risk / Return Rank
AAPB
DBE
AAPB vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for GraniteShares 2x Long AAPL Daily ETF (AAPB) and Invesco DB Energy Fund (DBE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AAPB | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.48 | ||
| Sortino ratioReturn per unit of downside risk | +0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.28 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.63 | 2.35 | +1.28 |
| Martin ratioReturn relative to average drawdown | 8.32 | 7.10 | +1.21 |
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Drawdowns
AAPB vs. DBE - Drawdown Comparison
The maximum AAPB drawdown since its inception was -58.13%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for AAPB and DBE.
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Drawdown Indicators
| AAPB | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.13% | -86.69% | +28.56% |
Max Drawdown (1Y)Largest decline over 1 year | -28.11% | -24.72% | -3.39% |
Max Drawdown (3Y)Largest decline over 3 years | -58.13% | -24.72% | -33.41% |
Max Drawdown (5Y)Largest decline over 5 years | — | -38.74% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -60.84% | — |
Current DrawdownCurrent decline from peak | -2.36% | -35.82% | +33.46% |
Average DrawdownAverage peak-to-trough decline | -19.10% | -57.19% | +38.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.25% | 8.17% | +4.08% |
Volatility
AAPB vs. DBE - Volatility Comparison
GraniteShares 2x Long AAPL Daily ETF (AAPB) has a higher volatility of 21.25% compared to Invesco DB Energy Fund (DBE) at 12.20%. This indicates that AAPB's price experiences larger fluctuations and is considered to be riskier than DBE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AAPB | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.25% | 12.20% | +9.05% |
Volatility (6M)Calculated over the trailing 6-month period | 38.48% | 32.74% | +5.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 48.86% | 35.99% | +12.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 51.87% | 29.88% | +21.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 51.87% | 28.40% | +23.47% |
AAPB vs. DBE - Expense Ratio Comparison
AAPB has a 1.15% expense ratio, which is higher than DBE's 0.78% expense ratio.
Dividends
AAPB vs. DBE - Dividend Comparison
AAPB's dividend yield for the trailing twelve months is around 3.52%, more than DBE's 2.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
AAPB GraniteShares 2x Long AAPL Daily ETF | 3.52% | 4.39% | 0.00% | 18.75% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
DBE Invesco DB Energy Fund | 2.29% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% |
Frequently Asked Questions
AAPB and DBE have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AAPB has higher volatility (21.25%) compared to DBE (12.20%). In terms of maximum drawdown, AAPB dropped -58.13% vs DBE's -86.69%.
On 3-year performance, AAPB leads with 20.47% vs 17.83% for DBE. On fees, DBE is cheaper at 0.78% per year. On volatility, DBE has been the lower-risk option at 12.20%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, AAPB has performed better with a 20.47% return vs 17.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DBE is cheaper with a 0.78% expense ratio, compared with 1.15% for AAPB.
AAPB has the higher dividend yield at 3.52%, compared with 2.29% for DBE.
AAPB is categorized as Leveraged Equities, while DBE is Oil & Gas. They also come from different issuers: GraniteShares and Invesco. Their fees differ too: 1.15% for AAPB and 0.78% for DBE.
AAPB currently has the higher Sharpe Ratio (2.09 vs 1.62), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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