AVXC vs. DBE
AVXC (Avantis Emerging Markets ex-China Equity ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - AVXC is a Emerging Markets Diversified fund tracking the MSCI Emerging Markets IMI, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past year, AVXC returned 62.37% vs 84.41% for DBE. At a correlation of -0.06, they often move in opposite directions. AVXC charges 0.33%/yr vs 0.78%/yr for DBE.
Performance
AVXC vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, AVXC achieves a 34.06% return, which is significantly lower than DBE's 83.68% return.
AVXC
- 1D
- -1.44%
- 1M
- 10.62%
- YTD
- 34.06%
- 6M
- 38.17%
- 1Y
- 62.37%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DBE
- 1D
- 2.33%
- 1M
- -5.45%
- YTD
- 83.68%
- 6M
- 74.95%
- 1Y
- 84.41%
- 3Y*
- 23.42%
- 5Y*
- 19.66%
- 10Y*
- 12.03%
AVXC vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
AVXC Avantis Emerging Markets ex-China Equity ETF | 34.06% | 31.45% | -0.80% |
DBE Invesco DB Energy Fund | 83.68% | -2.17% | -4.23% |
Correlation
The correlation between AVXC and DBE is -0.30, 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 | -0.30 |
Correlation (All Time) Calculated using the full available price history since Mar 22, 2024 | -0.06 |
Over the past year, the inverse relationship between AVXC and DBE has strengthened: their correlation has moved from -0.06 to -0.30, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
AVXC vs. DBE — Risk / Return Rank
AVXC
DBE
AVXC vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Avantis Emerging Markets ex-China Equity ETF (AVXC) 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.
| AVXC | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.70 | ||
| Sortino ratioReturn per unit of downside risk | +1.04 | ||
| Omega ratioGain probability vs. loss probability | 1.56 | 1.40 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 4.47 | 5.89 | -1.42 |
| Martin ratioReturn relative to average drawdown | 18.06 | 11.53 | +6.53 |
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
| AVXC | DBE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.12 | 2.43 | +0.70 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.67 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.43 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.58 | 0.09 | +1.48 |
Drawdowns
AVXC vs. DBE - Drawdown Comparison
The maximum AVXC drawdown since its inception was -20.44%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for AVXC and DBE.
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Drawdown Indicators
| AVXC | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.44% | -86.69% | +66.25% |
Max Drawdown (1Y)Largest decline over 1 year | -14.04% | -14.41% | +0.37% |
Max Drawdown (3Y)Largest decline over 3 years | — | -23.89% | — |
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 | -1.44% | -30.27% | +28.83% |
Average DrawdownAverage peak-to-trough decline | -3.79% | -57.31% | +53.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.46% | 7.35% | -3.89% |
Volatility
AVXC vs. DBE - Volatility Comparison
The current volatility for Avantis Emerging Markets ex-China Equity ETF (AVXC) is 9.00%, while Invesco DB Energy Fund (DBE) has a volatility of 12.95%. This indicates that AVXC 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
| AVXC | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.00% | 12.95% | -3.95% |
Volatility (6M)Calculated over the trailing 6-month period | 17.67% | 30.86% | -13.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.07% | 34.97% | -14.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.47% | 29.39% | -10.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.47% | 28.33% | -9.86% |
AVXC vs. DBE - Expense Ratio Comparison
AVXC has a 0.33% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
AVXC vs. DBE - Dividend Comparison
AVXC's dividend yield for the trailing twelve months is around 1.49%, less than DBE's 2.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
AVXC Avantis Emerging Markets ex-China Equity ETF | 1.49% | 1.97% | 1.34% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
DBE Invesco DB Energy Fund | 2.10% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% |
Frequently Asked Questions
AVXC and DBE have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBE has higher volatility (12.95%) compared to AVXC (9.00%). In terms of maximum drawdown, AVXC dropped -20.44% vs DBE's -86.69%.
On 1-year performance, DBE leads with 84.41% vs 62.37% for AVXC. On fees, AVXC is cheaper at 0.33% per year. On volatility, AVXC has been the lower-risk option at 9.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DBE has performed better with a 84.41% return vs 62.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AVXC is cheaper with a 0.33% expense ratio, compared with 0.78% for DBE.
DBE has the higher dividend yield at 2.10%, compared with 1.49% for AVXC.
AVXC is categorized as Emerging Markets Diversified, while DBE is Oil & Gas. AVXC tracks MSCI Emerging Markets IMI, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: Avantis Investors and Invesco. Their fees differ too: 0.33% for AVXC and 0.78% for DBE.
AVXC currently has the higher Sharpe Ratio (3.12 vs 2.43), 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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