CVNY vs. DBE
CVNY (YieldMax CVNA Option Income Strategy ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - CVNY is a Derivative Income fund actively managed by YieldMax, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. CVNY is actively managed, while DBE is passively managed. Over the past year, CVNY returned -2.56% vs 81.31% for DBE. At a correlation of -0.14, they often move in opposite directions. CVNY charges 0.99%/yr vs 0.78%/yr for DBE.
Performance
CVNY vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, CVNY achieves a -18.76% return, which is significantly lower than DBE's 79.04% return.
CVNY
- 1D
- 3.85%
- 1M
- -11.51%
- YTD
- -18.76%
- 6M
- -14.07%
- 1Y
- -2.56%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DBE
- 1D
- -2.52%
- 1M
- -6.01%
- YTD
- 79.04%
- 6M
- 69.31%
- 1Y
- 81.31%
- 3Y*
- 22.41%
- 5Y*
- 19.05%
- 10Y*
- 11.58%
CVNY vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CVNY YieldMax CVNA Option Income Strategy ETF | -18.76% | 54.11% |
DBE Invesco DB Energy Fund | 79.04% | -4.64% |
Correlation
The correlation between CVNY and DBE is -0.26, 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 | -0.26 |
Correlation (All Time) Calculated using the full available price history since Jan 31, 2025 | -0.14 |
The correlation between CVNY and DBE shifts across timeframes, from -0.26 (1 year) to -0.14 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CVNY vs. DBE — Risk / Return Rank
CVNY
DBE
CVNY vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for YieldMax CVNA Option Income Strategy ETF (CVNY) 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.
| CVNY | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.38 | ||
| Sortino ratioReturn per unit of downside risk | -2.60 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.39 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.07 | 5.67 | -5.74 |
| Martin ratioReturn relative to average drawdown | -0.16 | 11.08 | -11.24 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CVNY | DBE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.05 | 2.33 | -2.38 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.65 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.41 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.09 | +0.22 |
Drawdowns
CVNY vs. DBE - Drawdown Comparison
The maximum CVNY drawdown since its inception was -43.27%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for CVNY and DBE.
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Drawdown Indicators
| CVNY | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.27% | -86.69% | +43.42% |
Max Drawdown (1Y)Largest decline over 1 year | -36.27% | -14.41% | -21.86% |
Max Drawdown (3Y)Largest decline over 3 years | — | -23.89% | — |
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 | -26.89% | -32.03% | +5.14% |
Average DrawdownAverage peak-to-trough decline | -13.47% | -57.30% | +43.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.02% | 7.37% | +8.65% |
Volatility
CVNY vs. DBE - Volatility Comparison
YieldMax CVNA Option Income Strategy ETF (CVNY) has a higher volatility of 14.45% compared to Invesco DB Energy Fund (DBE) at 13.05%. This indicates that CVNY'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
| CVNY | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.45% | 13.05% | +1.40% |
Volatility (6M)Calculated over the trailing 6-month period | 36.98% | 30.97% | +6.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 49.51% | 35.07% | +14.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 58.27% | 29.41% | +28.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 58.27% | 28.34% | +29.93% |
CVNY vs. DBE - Expense Ratio Comparison
CVNY has a 0.99% expense ratio, which is higher than DBE's 0.78% expense ratio.
Dividends
CVNY vs. DBE - Dividend Comparison
CVNY's dividend yield for the trailing twelve months is around 108.47%, more than DBE's 2.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
CVNY YieldMax CVNA Option Income Strategy ETF | 108.47% | 80.86% | 0.00% | 0.00% | 0.00% | 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
CVNY and DBE have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CVNY has higher volatility (14.45%) compared to DBE (13.05%). In terms of maximum drawdown, CVNY dropped -43.27% vs DBE's -86.69%.
On 1-year performance, DBE leads with 81.31% vs -2.56% for CVNY. On fees, DBE is cheaper at 0.78% per year. On volatility, DBE has been the lower-risk option at 13.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DBE has performed better with a 81.31% return vs -2.56%. 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 0.99% for CVNY.
CVNY has the higher dividend yield at 108.47%, compared with 2.16% for DBE.
CVNY is categorized as Derivative Income, while DBE is Oil & Gas. They also come from different issuers: YieldMax and Invesco. Their fees differ too: 0.99% for CVNY and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (2.33 vs -0.05), 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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