CORP vs. DBE

Last updated Jun 3, 2026

CORP (PIMCO Investment Grade Corporate Bond Index ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - CORP is a Corporate Bonds fund tracking the ICE BofA US Corporate, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 10 years, CORP returned 2.81%/yr vs 11.78%/yr for DBE. At a correlation of -0.08, they often move in opposite directions. CORP charges 0.20%/yr vs 0.78%/yr for DBE.

Performance

CORP vs. DBE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Investment Grade Corporate Bond Index ETF (CORP) 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, CORP achieves a 0.78% return, which is significantly lower than DBE's 79.50% return. Over the past 10 years, CORP has underperformed DBE with an annualized return of 2.81%, while DBE has yielded a comparatively higher 11.78% annualized return.

CORP

• 1D: -0.01%
• 1M: 0.40%
• YTD: 0.78%
• 6M: 0.79%
• 1Y: 6.41%
• 3Y*: 5.55%
• 5Y*: 1.06%
• 10Y*: 2.81%

DBE

• 1D: 0.80%
• 1M: -3.65%
• YTD: 79.50%
• 6M: 72.59%
• 1Y: 82.31%
• 3Y*: 22.48%
• 5Y*: 19.20%
• 10Y*: 11.78%

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

CORP vs. DBE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CORP PIMCO Investment Grade Corporate Bond Index ETF	0.78%	7.96%	2.47%	9.13%	-14.96%	-1.18%	9.70%	14.80%	-3.29%	6.56%
DBE Invesco DB Energy Fund	79.50%	-2.17%	2.96%	-12.14%	33.77%	57.56%	-25.91%	19.72%	-12.95%	5.21%

Correlation

The correlation between CORP and DBE is -0.41, 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	-0.41
Correlation (3Y) Calculated over the trailing 3-year period	-0.20
Correlation (5Y) Calculated over the trailing 5-year period	-0.12
Correlation (10Y) Calculated over the trailing 10-year period	-0.07
Correlation (All Time) Calculated using the full available price history since Sep 22, 2010	-0.08

Over the past year, the inverse relationship between CORP and DBE has strengthened: their correlation has moved from -0.08 to -0.41, meaning they now move in opposite directions more often than their long-term average.

Return for Risk

CORP vs. DBE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CORP

CORP Risk / Return Rank: 43
CORP Sharpe Ratio Rank: 43
CORP Sortino Ratio Rank: 46
CORP Omega Ratio Rank: 42
CORP Calmar Ratio Rank: 43
CORP Martin Ratio Rank: 43

DBE

DBE Risk / Return Rank: 71
DBE Sharpe Ratio Rank: 71
DBE Sortino Ratio Rank: 61
DBE Omega Ratio Rank: 64
DBE Calmar Ratio Rank: 92
DBE Martin Ratio Rank: 65

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CORP vs. DBE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Investment Grade Corporate Bond Index ETF (CORP) 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.

	CORP	DBE	Difference
Sharpe ratio Return per unit of total volatility	1.54	2.37	-0.83
Sortino ratio Return per unit of downside risk	2.28	2.91	-0.62
Omega ratio Gain probability vs. loss probability	1.27	1.39	-0.12
Calmar ratio Return relative to maximum drawdown	2.16	6.10	-3.94
Martin ratio Return relative to average drawdown	7.02	11.98	-4.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CORP vs. DBE - Sharpe Ratio Comparison

The current CORP Sharpe Ratio is 1.54, which is lower than the DBE Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of CORP 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.

Sharpe Ratios by Period

	CORP	DBE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.54	2.37	-0.83
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.15	0.66	-0.50
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	0.42	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.09	+0.47

Drawdowns

CORP vs. DBE - Drawdown Comparison

The maximum CORP drawdown since its inception was -21.21%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for CORP and DBE.

Drawdown Indicators

	CORP	DBE	Difference
Max Drawdown Largest peak-to-trough decline	-21.21%	-86.69%	+65.48%
Max Drawdown (1Y) Largest decline over 1 year	-2.88%	-14.41%	+11.53%
Max Drawdown (3Y) Largest decline over 3 years	-6.06%	-23.89%	+17.83%
Max Drawdown (5Y) Largest decline over 5 years	-21.21%	-38.74%	+17.53%
Max Drawdown (10Y) Largest decline over 10 years	-21.21%	-60.84%	+39.63%
Current Drawdown Current decline from peak	-0.85%	-31.85%	+31.00%
Average Drawdown Average peak-to-trough decline	-3.61%	-57.31%	+53.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.88%	7.34%	-6.46%

Volatility

CORP vs. DBE - Volatility Comparison

The current volatility for PIMCO Investment Grade Corporate Bond Index ETF (CORP) is 1.37%, while Invesco DB Energy Fund (DBE) has a volatility of 13.47%. This indicates that CORP 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.

Volatility by Period

	CORP	DBE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.37%	13.47%	-12.10%
Volatility (6M) Calculated over the trailing 6-month period	3.01%	30.80%	-27.79%
Volatility (1Y) Calculated over the trailing 1-year period	4.18%	35.02%	-30.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.89%	29.37%	-22.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.08%	28.33%	-21.25%

CORP vs. DBE - Expense Ratio Comparison

CORP has a 0.20% expense ratio, which is lower than DBE's 0.78% expense ratio.

Dividends

CORP vs. DBE - Dividend Comparison

CORP's dividend yield for the trailing twelve months is around 4.84%, more than DBE's 2.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CORP PIMCO Investment Grade Corporate Bond Index ETF	4.84%	4.77%	4.74%	4.12%	3.28%	2.51%	2.90%	3.25%	3.18%	3.08%	2.91%	3.14%
DBE Invesco DB Energy Fund	2.15%	3.86%	6.32%	3.87%	0.75%	0.00%	0.00%	1.79%	1.67%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CORP and DBE in my portfolio?

CORP and DBE have a correlation of -0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CORP or DBE?

DBE has higher volatility (13.47%) compared to CORP (1.37%). In terms of maximum drawdown, CORP dropped -21.21% vs DBE's -86.69%.

Which ETF is better, CORP or DBE?

On 10-year performance, DBE leads with 11.78% vs 2.81% for CORP. On fees, CORP is cheaper at 0.20% per year. On volatility, CORP has been the lower-risk option at 1.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CORP or DBE?

Over the 10-year period, DBE has performed better with a 11.78% return vs 2.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CORP or DBE?

CORP is cheaper with a 0.20% expense ratio, compared with 0.78% for DBE.

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

CORP has the higher dividend yield at 4.84%, compared with 2.15% for DBE.

What is the main difference between CORP and DBE?

CORP is categorized as Corporate Bonds, while DBE is Oil & Gas. CORP tracks ICE BofA US Corporate, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: PIMCO and Invesco. Their fees differ too: 0.20% for CORP and 0.78% for DBE.

Which has better risk-adjusted returns?

DBE currently has the higher Sharpe Ratio (2.37 vs 1.54), 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.