CGV vs. DBE
CGV (Conductor Global Equity Value ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - CGV is a Foreign Small & Mid Cap Equities fund actively managed by Conductor, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. CGV is actively managed, while DBE is passively managed. Over the past 3 years, CGV returned 10.48%/yr vs 17.16%/yr for DBE. Their 0.08 correlation means their historical movements had little consistent relationship. CGV charges 1.25%/yr vs 0.78%/yr for DBE.
Performance
CGV vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, CGV achieves a 7.68% return, which is significantly lower than DBE's 78.87% return.
CGV
- 1D
- -0.84%
- 1M
- -0.50%
- 6M
- 0.10%
- YTD
- 7.68%
- 1Y
- 19.89%
- 3Y*
- 10.48%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 8.86%
DBE
- 1D
- 1.13%
- 1M
- 21.13%
- 6M
- 53.89%
- YTD
- 78.87%
- 1Y
- 68.62%
- 3Y*
- 17.16%
- 5Y*
- 17.73%
- 10Y*
- 13.17%
- ALL TIME*
- 2.52%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $245.64K | $227.68K | $307.26K | |
| $1.24M | $1.18M | $1.76M |
CGV vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CGV Conductor Global Equity Value ETF | 7.68% | 23.11% | -3.34% | 5.72% | 3.64% |
DBE Invesco DB Energy Fund | 78.87% | -2.17% | 2.96% | -12.14% | -10.65% |
Correlation
The correlation between CGV and DBE is -0.19, 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. | -0.19 |
Correlation (3Y) Balances recent behavior with more history. | -0.01 |
Correlation (All Time) Calculated using the full available price history since Aug 1, 2022 | 0.08 |
The correlation between CGV and DBE shifts across timeframes, from -0.19 (1 year) to 0.08 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CGV vs. DBE — Risk / Return Rank
CGV
DBE
CGV vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Conductor Global Equity Value ETF (CGV) 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.
| CGV | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.35 | ||
| Sortino ratioReturn per unit of downside risk | -0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.29 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.69 | 2.59 | -0.91 |
| Martin ratioReturn relative to average drawdown | 4.67 | 8.14 | -3.47 |
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Drawdowns
CGV vs. DBE - Drawdown Comparison
The maximum CGV drawdown since its inception was -16.64%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for CGV and DBE.
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Drawdown Indicators
| CGV | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.64% | -86.69% | +70.05% |
Max Drawdown (1Y)Largest decline over 1 year | -12.13% | -24.72% | +12.59% |
Max Drawdown (3Y)Largest decline over 3 years | -16.64% | -24.72% | +8.08% |
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 | -7.46% | -32.09% | +24.63% |
Average DrawdownAverage peak-to-trough decline | -3.78% | -57.13% | +53.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.37% | 8.15% | -3.78% |
Volatility
CGV vs. DBE - Volatility Comparison
The current volatility for Conductor Global Equity Value ETF (CGV) is 4.23%, while Invesco DB Energy Fund (DBE) has a volatility of 14.12%. This indicates that CGV 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
| CGV | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.23% | 14.12% | -9.89% |
Volatility (6M)Calculated over the trailing 6-month period | 12.90% | 33.95% | -21.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.06% | 37.47% | -22.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.67% | 30.09% | -16.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.67% | 28.58% | -14.91% |
CGV vs. DBE - Expense Ratio Comparison
CGV has a 1.25% expense ratio, which is higher than DBE's 0.78% expense ratio.
Dividends
CGV vs. DBE - Dividend Comparison
CGV's dividend yield for the trailing twelve months is around 4.86%, more than DBE's 2.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
CGV Conductor Global Equity Value ETF | 4.86% | 4.58% | 2.87% | 4.56% | 0.71% | 0.00% | 0.00% | 0.00% | 0.00% |
DBE Invesco DB Energy Fund | 2.16% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% |
Frequently Asked Questions
CGV and DBE have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBE has higher volatility (14.12%) compared to CGV (4.23%). In terms of maximum drawdown, CGV dropped -16.64% vs DBE's -86.69%.
On 3-year performance, DBE leads with 17.16% vs 10.48% for CGV. On fees, DBE is cheaper at 0.78% per year. On volatility, CGV has been the lower-risk option at 4.23%. 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 17.16% return vs 10.48%. 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 1.25% for CGV.
CGV has the higher dividend yield at 4.86%, compared with 2.16% for DBE.
CGV is categorized as Foreign Small & Mid Cap Equities, while DBE is Oil & Gas. They also come from different issuers: Conductor and Invesco. Their fees differ too: 1.25% for CGV and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (1.71 vs 1.36), 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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