DBE vs. BPH

Last updated Jun 4, 2026

DBE (Invesco DB Energy Fund) and BPH (BP p.l.c. ADRhedged ETF) are both Oil & Gas funds. DBE is passively managed, while BPH is actively managed. Their correlation of 0.83 suggests significant overlap in exposure. DBE charges 0.78%/yr vs 0.19%/yr for BPH.

Performance

DBE vs. BPH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco DB Energy Fund (DBE) and BP p.l.c. ADRhedged ETF (BPH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DBE

• 1D: 2.33%
• 1M: -5.45%
• YTD: 83.68%
• 6M: 74.95%
• 1Y: 84.41%
• 3Y*: 23.42%
• 5Y*: 19.66%
• 10Y*: 12.03%

BPH

• 1D: 1.20%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DBE vs. BPH - Yearly Performance Comparison

	2026 (YTD)
DBE Invesco DB Energy Fund	3.48%
BPH BP p.l.c. ADRhedged ETF	2.83%

Correlation

The correlation between DBE and BPH is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 27, 2026	0.83

Return for Risk

DBE vs. BPH — Risk / Return Rank

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

DBE

DBE Risk / Return Rank: 71
DBE Sharpe Ratio Rank: 74
DBE Sortino Ratio Rank: 63
DBE Omega Ratio Rank: 65
DBE Calmar Ratio Rank: 91
DBE Martin Ratio Rank: 63

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.

DBE vs. BPH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco DB Energy Fund (DBE) and BP p.l.c. ADRhedged ETF (BPH). 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.

	DBE	BPH	Difference
Sharpe ratio Return per unit of total volatility	2.43	—	—
Sortino ratio Return per unit of downside risk	2.96	—	—
Omega ratio Gain probability vs. loss probability	1.40	—	—
Calmar ratio Return relative to maximum drawdown	5.89	—	—
Martin ratio Return relative to average drawdown	11.53	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	DBE	BPH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.43	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.67	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.43	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.09	9.48	-9.38

Drawdowns

DBE vs. BPH - Drawdown Comparison

The maximum DBE drawdown since its inception was -86.69%, which is greater than BPH's maximum drawdown of -2.35%. Use the drawdown chart below to compare losses from any high point for DBE and BPH.

Drawdown Indicators

	DBE	BPH	Difference
Max Drawdown Largest peak-to-trough decline	-86.69%	-2.35%	-84.34%
Max Drawdown (1Y) Largest decline over 1 year	-14.41%	—	—
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 Drawdown Current decline from peak	-30.27%	0.00%	-30.27%
Average Drawdown Average peak-to-trough decline	-57.31%	-1.08%	-56.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.35%	—	—

Volatility

Volatility by Period

	DBE	BPH	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.95%	—	—
Volatility (6M) Calculated over the trailing 6-month period	30.86%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	34.97%	25.75%	+9.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.39%	25.75%	+3.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.33%	25.75%	+2.58%

DBE vs. BPH - Expense Ratio Comparison

DBE has a 0.78% expense ratio, which is higher than BPH's 0.19% expense ratio.

Dividends

DBE vs. BPH - Dividend Comparison

DBE's dividend yield for the trailing twelve months is around 2.10%, while BPH has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BPH BP p.l.c. ADRhedged ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DBE Invesco DB Energy Fund	2.10%	3.86%	6.32%	3.87%	0.75%	0.00%	0.00%	1.79%	1.67%

Frequently Asked Questions

Can I hold both DBE and BPH in my portfolio?

DBE and BPH have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DBE or BPH?

On fees, BPH is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DBE or BPH?

BPH is cheaper with a 0.19% expense ratio, compared with 0.78% for DBE.

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

DBE has the higher dividend yield at 2.10%, compared with 0.00% for BPH.

What is the main difference between DBE and BPH?

They also come from different issuers: Invesco and Precidian. Their fees differ too: 0.78% for DBE and 0.19% for BPH.