BOEG vs. DBE

Last updated Aug 4, 2026

BOEG (Leverage Shares 2X Long BA Daily ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - BOEG is a Leveraged Equities fund actively managed by Leverage Shares, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. BOEG is actively managed, while DBE is passively managed. Over the past year, BOEG returned -12.14% vs 61.44% for DBE. Their -0.27 correlation means they have often moved in opposite directions in the past. BOEG charges 0.75%/yr vs 0.78%/yr for DBE.

Performance

BOEG vs. DBE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Leverage Shares 2X Long BA Daily ETF (BOEG) and Invesco DB Energy Fund (DBE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BOEG achieves a 0.59% return, which is significantly lower than DBE's 71.26% return.

BOEG

• 1D: 15.82%
• 1M: 3.97%
• 6M: -11.16%
• YTD: 0.59%
• 1Y: -12.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.54%

DBE

• 1D: -4.26%
• 1M: 15.98%
• 6M: 57.84%
• YTD: 71.26%
• 1Y: 61.44%
• 3Y*: 15.22%
• 5Y*: 17.82%
• 10Y*: 12.24%
• ALL TIME*: 2.29%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BOEG Leverage Shares 2X Long BA Daily ETF	$787.34K	$569.94K	$587.43K
DBE Invesco DB Energy Fund	$1.27M	$1.08M	$1.67M

BOEG vs. DBE - Yearly Performance Comparison

	2026 (YTD)	2025
BOEG Leverage Shares 2X Long BA Daily ETF	0.59%	6.85%
DBE Invesco DB Energy Fund	71.26%	-3.72%

Correlation

The correlation between BOEG and DBE is -0.29, 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.	-0.29
Correlation (All Time) Calculated using the full available price history since Jun 13, 2025	-0.27

Return for Risk

BOEG vs. DBE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BOEG

BOEG Risk / Return Rank: 9
BOEG Sharpe Ratio Rank: 8
BOEG Sortino Ratio Rank: 12
BOEG Omega Ratio Rank: 11
BOEG Calmar Ratio Rank: 7
BOEG Martin Ratio Rank: 8

DBE

DBE Risk / Return Rank: 66
DBE Sharpe Ratio Rank: 70
DBE Sortino Ratio Rank: 66
DBE Omega Ratio Rank: 64
DBE Calmar Ratio Rank: 69
DBE Martin Ratio Rank: 63

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BOEG vs. DBE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long BA Daily ETF (BOEG) 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.

	BOEG	DBE	Difference
Sharpe ratio: Return per unit of total volatility	-0.18	1.64	-1.83
Sortino ratio: Return per unit of downside risk	0.21	2.23	-2.02
Omega ratio: Gain probability vs. loss probability	1.02	1.28	-0.26
Calmar ratio: Return relative to maximum drawdown	-0.26	2.50	-2.76
Martin ratio: Return relative to average drawdown	-0.47	7.82	-8.29

BOEG vs. DBE - Sharpe Ratio Comparison

The current BOEG Sharpe Ratio is -0.18, which is lower than the DBE Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of BOEG and DBE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BOEG vs. DBE - Drawdown Comparison

The maximum BOEG drawdown since its inception was -46.47%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for BOEG and DBE.

Drawdown Indicators

	BOEG	DBE	Difference
Max Drawdown Largest peak-to-trough decline	-46.47%	-86.69%	+40.22%
Max Drawdown (1Y) Largest decline over 1 year	-46.13%	-24.72%	-21.41%
Max Drawdown (3Y) Largest decline over 3 years	—	-24.72%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-38.74%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-60.84%	—
Current Drawdown Current decline from peak	-24.48%	-34.98%	+10.50%
Average Drawdown Average peak-to-trough decline	-20.86%	-57.13%	+36.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.69%	7.90%	+17.79%

Volatility

BOEG vs. DBE - Volatility Comparison

Leverage Shares 2X Long BA Daily ETF (BOEG) has a higher volatility of 25.87% compared to Invesco DB Energy Fund (DBE) at 15.07%. This indicates that BOEG'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.

Volatility by Period

	BOEG	DBE	Difference
Volatility (1M) Calculated over the trailing 1-month period	25.87%	15.07%	+10.80%
Volatility (6M) Calculated over the trailing 6-month period	51.38%	34.26%	+17.12%
Volatility (1Y) Calculated over the trailing 1-year period	67.06%	37.66%	+29.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	66.04%	30.15%	+35.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	66.04%	28.60%	+37.44%

BOEG vs. DBE - Expense Ratio Comparison

BOEG has a 0.75% expense ratio, which is lower than DBE's 0.78% expense ratio.

Dividends

BOEG vs. DBE - Dividend Comparison

BOEG has not paid dividends to shareholders, while DBE's dividend yield for the trailing twelve months is around 2.26%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BOEG Leverage Shares 2X Long BA Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DBE Invesco DB Energy Fund	2.26%	3.86%	6.32%	3.87%	0.75%	0.00%	0.00%	1.79%	1.67%

Frequently Asked Questions

Can I hold both BOEG and DBE in my portfolio?

BOEG and DBE have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BOEG or DBE?

BOEG has higher volatility (25.87%) compared to DBE (15.07%). In terms of maximum drawdown, BOEG dropped -46.47% vs DBE's -86.69%.

Which ETF is better, BOEG or DBE?

On 1-year performance, DBE leads with 61.44% vs -12.14% for BOEG. On fees, BOEG is cheaper at 0.75% per year. On volatility, DBE has been the lower-risk option at 15.07%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BOEG or DBE?

Over the 1-year period, DBE has performed better with a 61.44% return vs -12.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BOEG or DBE?

BOEG is cheaper with a 0.75% expense ratio, compared with 0.78% for DBE.

Which ETF pays a higher dividend yield, BOEG or DBE?

DBE has the higher dividend yield at 2.26%, compared with 0.00% for BOEG.

What is the main difference between BOEG and DBE?

BOEG is categorized as Leveraged Equities, while DBE is Oil & Gas. They also come from different issuers: Leverage Shares and Invesco. Their fees differ too: 0.75% for BOEG and 0.78% for DBE.

Which has better risk-adjusted returns?

DBE currently has the higher Sharpe Ratio (1.64 vs -0.18), 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.