CARU vs. DBE
CARU (Max Auto Industry 3X Leveraged ETN) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - CARU is a Leveraged Equities fund tracking the Prime Auto Industry Index - Benchmark TR Net (--300%), while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 3 years, CARU returned -8.94%/yr vs 15.22%/yr for DBE. Their -0.05 correlation means they have often moved in opposite directions in the past. CARU charges 0.95%/yr vs 0.78%/yr for DBE.
Performance
CARU vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, CARU achieves a -24.98% return, which is significantly lower than DBE's 71.26% return.
CARU
- 1D
- 3.40%
- 1M
- -4.68%
- 6M
- -23.35%
- YTD
- -24.98%
- 1Y
- -12.14%
- 3Y*
- -8.94%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -3.46%
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%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $54.44K | $33.09K | $19.89K | |
| $1.27M | $1.08M | $1.67M |
CARU vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CARU Max Auto Industry 3X Leveraged ETN | -24.98% | 7.29% | 23.44% | -9.74% |
DBE Invesco DB Energy Fund | 71.26% | -2.17% | 2.96% | 3.73% |
Correlation
The correlation between CARU and DBE is -0.32, 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. | -0.32 |
Correlation (3Y) Balances recent behavior with more history. | -0.06 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2023 | -0.05 |
Over the past year, the inverse relationship between CARU and DBE has strengthened: their correlation has moved from -0.05 to -0.32, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
CARU vs. DBE — Risk / Return Rank
CARU
DBE
CARU vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Max Auto Industry 3X Leveraged ETN (CARU) 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.
| CARU | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.81 | ||
| Sortino ratioReturn per unit of downside risk | -1.98 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.28 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | -0.24 | 2.50 | -2.74 |
| Martin ratioReturn relative to average drawdown | -0.43 | 7.82 | -8.25 |
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Drawdowns
CARU vs. DBE - Drawdown Comparison
The maximum CARU drawdown since its inception was -66.44%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for CARU and DBE.
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Drawdown Indicators
| CARU | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.44% | -86.69% | +20.25% |
Max Drawdown (1Y)Largest decline over 1 year | -50.87% | -24.72% | -26.15% |
Max Drawdown (3Y)Largest decline over 3 years | -59.03% | -24.72% | -34.31% |
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 | -40.76% | -34.98% | -5.78% |
Average DrawdownAverage peak-to-trough decline | -36.15% | -57.13% | +20.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 28.31% | 7.90% | +20.41% |
Volatility
CARU vs. DBE - Volatility Comparison
Max Auto Industry 3X Leveraged ETN (CARU) has a higher volatility of 23.85% compared to Invesco DB Energy Fund (DBE) at 15.07%. This indicates that CARU'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.
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Volatility by Period
| CARU | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.85% | 15.07% | +8.78% |
Volatility (6M)Calculated over the trailing 6-month period | 54.89% | 34.26% | +20.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 71.88% | 37.66% | +34.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 80.17% | 30.15% | +50.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 80.17% | 28.60% | +51.57% |
CARU vs. DBE - Expense Ratio Comparison
CARU has a 0.95% expense ratio, which is higher than DBE's 0.78% expense ratio.
Dividends
CARU vs. DBE - Dividend Comparison
CARU 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 |
|---|---|---|---|---|---|---|---|---|---|
CARU Max Auto Industry 3X Leveraged ETN | 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
CARU and DBE have a correlation of -0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CARU has higher volatility (23.85%) compared to DBE (15.07%). In terms of maximum drawdown, CARU dropped -66.44% vs DBE's -86.69%.
On 3-year performance, DBE leads with 15.22% vs -8.94% for CARU. On fees, DBE is cheaper at 0.78% 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.
Over the 3-year period, DBE has performed better with a 15.22% return vs -8.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DBE is cheaper with a 0.78% expense ratio, compared with 0.95% for CARU.
DBE has the higher dividend yield at 2.26%, compared with 0.00% for CARU.
CARU is categorized as Leveraged Equities, while DBE is Oil & Gas. CARU tracks Prime Auto Industry Index - Benchmark TR Net (--300%), while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: Max and Invesco. Their fees differ too: 0.95% for CARU and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (1.64 vs -0.17), 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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