BBLB vs. DBE
BBLB (JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - BBLB is a Government Bonds fund tracking the ICE U.S. Treasury 20+ Year Bond Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 3 years, BBLB returned -0.80%/yr vs 13.55%/yr for DBE. Their -0.24 correlation means they have often moved in opposite directions in the past. BBLB charges 0.04%/yr vs 0.78%/yr for DBE.
Performance
BBLB vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, BBLB achieves a -2.53% return, which is significantly lower than DBE's 63.93% return.
BBLB
- 1D
- 0.72%
- 1M
- -2.86%
- 6M
- -2.32%
- YTD
- -2.53%
- 1Y
- -1.51%
- 3Y*
- -0.80%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -2.81%
DBE
- 1D
- -4.28%
- 1M
- 11.01%
- 6M
- 47.49%
- YTD
- 63.93%
- 1Y
- 55.67%
- 3Y*
- 13.55%
- 5Y*
- 16.46%
- 10Y*
- 11.75%
- ALL TIME*
- 2.06%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $43.45K | $41.67K | $60.66K | |
| $1.35M | $1.09M | $1.64M |
BBLB vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
BBLB JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF | -2.53% | 4.26% | -7.84% | -2.80% |
DBE Invesco DB Energy Fund | 63.93% | -2.17% | 2.96% | -4.77% |
Correlation
The correlation between BBLB and DBE is -0.43, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.43 |
Correlation (3Y) Balances recent behavior with more history. | -0.25 |
Correlation (All Time) Calculated using the full available price history since Apr 20, 2023 | -0.24 |
The correlation between BBLB and DBE shifts across timeframes, from -0.43 (1 year) to -0.24 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
BBLB vs. DBE — Risk / Return Rank
BBLB
DBE
BBLB vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF (BBLB) 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.
| BBLB | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.64 | ||
| Sortino ratioReturn per unit of downside risk | -2.22 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.26 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.20 | 2.26 | -2.46 |
| Martin ratioReturn relative to average drawdown | -0.42 | 7.03 | -7.46 |
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Drawdowns
BBLB vs. DBE - Drawdown Comparison
The maximum BBLB drawdown since its inception was -21.06%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for BBLB and DBE.
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Drawdown Indicators
| BBLB | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.06% | -86.69% | +65.63% |
Max Drawdown (1Y)Largest decline over 1 year | -7.76% | -24.72% | +16.96% |
Max Drawdown (3Y)Largest decline over 3 years | -14.67% | -24.72% | +10.05% |
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 | -10.92% | -37.77% | +26.85% |
Average DrawdownAverage peak-to-trough decline | -8.94% | -57.12% | +48.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.58% | 7.95% | -4.37% |
Volatility
BBLB vs. DBE - Volatility Comparison
The current volatility for JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF (BBLB) is 2.67%, while Invesco DB Energy Fund (DBE) has a volatility of 15.88%. This indicates that BBLB 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
| BBLB | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.67% | 15.88% | -13.21% |
Volatility (6M)Calculated over the trailing 6-month period | 6.95% | 33.82% | -26.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.26% | 37.86% | -28.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.62% | 30.19% | -16.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.62% | 28.64% | -15.02% |
BBLB vs. DBE - Expense Ratio Comparison
BBLB has a 0.04% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
BBLB vs. DBE - Dividend Comparison
BBLB's dividend yield for the trailing twelve months is around 4.99%, more than DBE's 2.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
BBLB JPMorgan BetaBuilders U.S. Treasury Bond 20+ Year ETF | 4.99% | 5.03% | 5.34% | 2.82% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
DBE Invesco DB Energy Fund | 2.36% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% |
Frequently Asked Questions
BBLB and DBE have a correlation of -0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBE has higher volatility (15.88%) compared to BBLB (2.67%). In terms of maximum drawdown, BBLB dropped -21.06% vs DBE's -86.69%.
On 3-year performance, DBE leads with 13.55% vs -0.80% for BBLB. On fees, BBLB is cheaper at 0.04% per year. On volatility, BBLB has been the lower-risk option at 2.67%. 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 13.55% return vs -0.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BBLB is cheaper with a 0.04% expense ratio, compared with 0.78% for DBE.
BBLB has the higher dividend yield at 4.99%, compared with 2.36% for DBE.
BBLB is categorized as Government Bonds, while DBE is Oil & Gas. BBLB tracks ICE U.S. Treasury 20+ Year Bond Index, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: JPMorgan and Invesco. Their fees differ too: 0.04% for BBLB and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (1.48 vs -0.16), 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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