AGRH vs. DBE
AGRH (iShares Interest Rate Hedged U.S. Aggregate Bond ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - AGRH is a Ultrashort Bond fund tracking the BlackRock Interest Rate Hedged U.S. Aggregate Bond Index - Benchmark TR Gross, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 3 years, AGRH returned 5.92%/yr vs 22.41%/yr for DBE. At a 0.00 correlation, their price movements are largely independent. AGRH charges 0.13%/yr vs 0.78%/yr for DBE.
Performance
AGRH vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, AGRH achieves a 1.78% return, which is significantly lower than DBE's 79.04% return.
AGRH
- 1D
- 0.00%
- 1M
- 0.58%
- YTD
- 1.78%
- 6M
- 2.46%
- 1Y
- 6.24%
- 3Y*
- 5.92%
- 5Y*
- —
- 10Y*
- —
DBE
- 1D
- -2.52%
- 1M
- -6.01%
- YTD
- 79.04%
- 6M
- 69.31%
- 1Y
- 81.31%
- 3Y*
- 22.41%
- 5Y*
- 19.05%
- 10Y*
- 11.58%
AGRH vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
AGRH iShares Interest Rate Hedged U.S. Aggregate Bond ETF | 1.78% | 6.00% | 5.93% | 6.40% | 1.76% |
DBE Invesco DB Energy Fund | 79.04% | -2.17% | 2.96% | -12.14% | -16.49% |
Correlation
The correlation between AGRH and DBE is -0.31, 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 | -0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.09 |
Correlation (All Time) Calculated using the full available price history since Jun 27, 2022 | 0.00 |
The correlation between AGRH and DBE shifts across timeframes, from -0.31 (1 year) to 0.00 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
AGRH vs. DBE — Risk / Return Rank
AGRH
DBE
AGRH vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Interest Rate Hedged U.S. Aggregate Bond ETF (AGRH) 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.
| AGRH | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.04 | ||
| Sortino ratioReturn per unit of downside risk | +4.73 | ||
| Omega ratioGain probability vs. loss probability | 2.11 | 1.39 | +0.72 |
| Calmar ratioReturn relative to maximum drawdown | 9.35 | 5.67 | +3.67 |
| Martin ratioReturn relative to average drawdown | 44.47 | 11.08 | +33.40 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AGRH | DBE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.37 | 2.33 | +2.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.65 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.41 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 3.13 | 0.09 | +3.04 |
Drawdowns
AGRH vs. DBE - Drawdown Comparison
The maximum AGRH drawdown since its inception was -1.73%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for AGRH and DBE.
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Drawdown Indicators
| AGRH | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.73% | -86.69% | +84.96% |
Max Drawdown (1Y)Largest decline over 1 year | -0.67% | -14.41% | +13.74% |
Max Drawdown (3Y)Largest decline over 3 years | -1.73% | -23.89% | +22.16% |
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 | -0.07% | -32.03% | +31.96% |
Average DrawdownAverage peak-to-trough decline | -0.16% | -57.30% | +57.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.14% | 7.37% | -7.23% |
Volatility
AGRH vs. DBE - Volatility Comparison
The current volatility for iShares Interest Rate Hedged U.S. Aggregate Bond ETF (AGRH) is 0.41%, while Invesco DB Energy Fund (DBE) has a volatility of 13.05%. This indicates that AGRH experiences smaller price fluctuations and is considered to be less risky 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
| AGRH | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.41% | 13.05% | -12.64% |
Volatility (6M)Calculated over the trailing 6-month period | 1.00% | 30.97% | -29.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.43% | 35.07% | -33.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.78% | 29.41% | -27.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.78% | 28.34% | -26.56% |
AGRH vs. DBE - Expense Ratio Comparison
AGRH has a 0.13% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
AGRH vs. DBE - Dividend Comparison
AGRH's dividend yield for the trailing twelve months is around 4.18%, more than DBE's 2.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
AGRH iShares Interest Rate Hedged U.S. Aggregate Bond ETF | 4.18% | 4.63% | 5.17% | 4.69% | 1.24% | 0.00% | 0.00% | 0.00% | 0.00% |
DBE Invesco DB Energy Fund | 2.16% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% |
Frequently Asked Questions
AGRH and DBE have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBE has higher volatility (13.05%) compared to AGRH (0.41%). In terms of maximum drawdown, AGRH dropped -1.73% vs DBE's -86.69%.
On 3-year performance, DBE leads with 22.41% vs 5.92% for AGRH. On fees, AGRH is cheaper at 0.13% per year. On volatility, AGRH has been the lower-risk option at 0.41%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, DBE has performed better with a 22.41% return vs 5.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AGRH is cheaper with a 0.13% expense ratio, compared with 0.78% for DBE.
AGRH has the higher dividend yield at 4.18%, compared with 2.16% for DBE.
AGRH is categorized as Ultrashort Bond, while DBE is Oil & Gas. AGRH tracks BlackRock Interest Rate Hedged U.S. Aggregate Bond Index - Benchmark TR Gross, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.13% for AGRH and 0.78% for DBE.
AGRH currently has the higher Sharpe Ratio (4.37 vs 2.33), 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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