AVSE vs. DBE
AVSE (Avantis Responsible Emerging Markets Equity ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - AVSE is a Emerging Markets Diversified fund tracking the MSCI Emerging Markets Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 3 years, AVSE returned 20.63%/yr vs 17.96%/yr for DBE. At a 0.09 correlation, their price movements are largely independent. AVSE charges 0.33%/yr vs 0.78%/yr for DBE.
Performance
AVSE vs. DBE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, AVSE achieves a 18.08% return, which is significantly lower than DBE's 68.39% return.
AVSE
- 1D
- -1.61%
- 1M
- -6.44%
- 6M
- 11.75%
- YTD
- 18.08%
- 1Y
- 30.80%
- 3Y*
- 20.63%
- 5Y*
- —
- 10Y*
- —
DBE
- 1D
- -1.09%
- 1M
- 6.25%
- 6M
- 65.69%
- YTD
- 68.39%
- 1Y
- 57.64%
- 3Y*
- 17.96%
- 5Y*
- 17.10%
- 10Y*
- 11.45%
AVSE vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
AVSE Avantis Responsible Emerging Markets Equity ETF | 18.08% | 32.54% | 8.29% | 16.01% | -14.43% |
DBE Invesco DB Energy Fund | 68.39% | -2.17% | 2.96% | -12.14% | -1.76% |
Correlation
The correlation between AVSE and DBE is -0.26, 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 | -0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since Mar 30, 2022 | 0.09 |
The correlation between AVSE and DBE shifts across timeframes, from -0.26 (1 year) to 0.09 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
AVSE vs. DBE — Risk / Return Rank
AVSE
DBE
AVSE vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Avantis Responsible Emerging Markets Equity ETF (AVSE) 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.
| AVSE | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.27 | ||
| Sortino ratioReturn per unit of downside risk | -0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.28 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.18 | 2.34 | -0.16 |
| Martin ratioReturn relative to average drawdown | 7.60 | 7.00 | +0.60 |
Loading charts...
Drawdowns
AVSE vs. DBE - Drawdown Comparison
The maximum AVSE drawdown since its inception was -26.28%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for AVSE and DBE.
Loading charts...
Drawdown Indicators
| AVSE | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.28% | -86.69% | +60.41% |
Max Drawdown (1Y)Largest decline over 1 year | -14.17% | -24.72% | +10.55% |
Max Drawdown (3Y)Largest decline over 3 years | -17.68% | -24.72% | +7.04% |
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 | -9.88% | -36.07% | +26.19% |
Average DrawdownAverage peak-to-trough decline | -6.77% | -57.19% | +50.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.06% | 8.26% | -4.20% |
Volatility
AVSE vs. DBE - Volatility Comparison
The current volatility for Avantis Responsible Emerging Markets Equity ETF (AVSE) is 10.22%, while Invesco DB Energy Fund (DBE) has a volatility of 11.68%. This indicates that AVSE 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.
Loading charts...
Volatility by Period
| AVSE | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.22% | 11.68% | -1.46% |
Volatility (6M)Calculated over the trailing 6-month period | 21.17% | 32.70% | -11.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.18% | 35.99% | -12.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.90% | 29.88% | -10.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.90% | 28.39% | -9.49% |
AVSE vs. DBE - Expense Ratio Comparison
AVSE has a 0.33% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
AVSE vs. DBE - Dividend Comparison
AVSE's dividend yield for the trailing twelve months is around 2.13%, less than DBE's 2.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
AVSE Avantis Responsible Emerging Markets Equity ETF | 2.13% | 2.68% | 3.03% | 3.20% | 1.27% | 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
AVSE and DBE have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBE has higher volatility (11.68%) compared to AVSE (10.22%). In terms of maximum drawdown, AVSE dropped -26.28% vs DBE's -86.69%.
On 3-year performance, AVSE leads with 20.63% vs 17.96% for DBE. On fees, AVSE is cheaper at 0.33% per year. On volatility, AVSE has been the lower-risk option at 10.22%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, AVSE has performed better with a 20.63% return vs 17.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AVSE is cheaper with a 0.33% expense ratio, compared with 0.78% for DBE.
DBE has the higher dividend yield at 2.29%, compared with 2.13% for AVSE.
AVSE is categorized as Emerging Markets Diversified, while DBE is Oil & Gas. AVSE tracks MSCI Emerging Markets Index, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: Avantis and Invesco. Their fees differ too: 0.33% for AVSE and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (1.61 vs 1.33), 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.
Find the right allocation for AVSE and DBE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer