DBE vs. OILU
DBE (Invesco DB Energy Fund) and OILU (MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN) are both exchange-traded funds - DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index, while OILU is a Leveraged Equities fund tracking the Solactive MicroSectors Oil & Gas Exploration & Production Index. Both are passively managed. Over the past 3 years, DBE returned 13.55%/yr vs -0.34%/yr for OILU. Their 0.66 correlation means they have sometimes moved together and sometimes differently. DBE charges 0.78%/yr vs 0.95%/yr for OILU.
Performance
DBE vs. OILU - Performance Comparison
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Returns By Period
In the year-to-date period, DBE achieves a 63.93% return, which is significantly lower than OILU's 84.63% return.
DBE
- 1D
- -4.28%
- 1M
- 11.01%
- 6M
- 47.49%
- YTD
- 63.93%
- 1Y
- 55.67%
- 3Y*
- 13.55%
- 5Y*
- 16.46%
- 10Y*
- 11.75%
- ALL TIME*
- 2.06%
OILU
- 1D
- -1.28%
- 1M
- 31.23%
- 6M
- 27.69%
- YTD
- 84.63%
- 1Y
- 97.58%
- 3Y*
- -0.34%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 11.91%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.35M | $1.09M | $1.64M | |
| $8.18M | $7.71M | $7.79M |
DBE vs. OILU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 63.93% | -2.17% | 2.96% | -12.14% | 33.77% | -6.10% |
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN | 84.63% | -16.50% | -21.65% | -32.50% | 151.08% | -16.79% |
Correlation
The correlation between DBE and OILU is 0.67, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.67 |
Correlation (3Y) Balances recent behavior with more history. | 0.63 |
Correlation (All Time) Calculated using the full available price history since Nov 9, 2021 | 0.66 |
The correlation between DBE and OILU has been stable across timeframes, ranging from 0.63 to 0.67 - a consistent structural relationship.
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Return for Risk
DBE vs. OILU — Risk / Return Rank
DBE
OILU
DBE vs. OILU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB Energy Fund (DBE) and MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU). 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.
| DBE | OILU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | +0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.24 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.26 | 2.11 | +0.15 |
| Martin ratioReturn relative to average drawdown | 7.03 | 5.17 | +1.87 |
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Drawdowns
DBE vs. OILU - Drawdown Comparison
The maximum DBE drawdown since its inception was -86.69%, which is greater than OILU's maximum drawdown of -81.00%. Use the drawdown chart below to compare losses from any high point for DBE and OILU.
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Drawdown Indicators
| DBE | OILU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.69% | -81.00% | -5.69% |
Max Drawdown (1Y)Largest decline over 1 year | -24.72% | -46.49% | +21.77% |
Max Drawdown (3Y)Largest decline over 3 years | -24.72% | -69.09% | +44.37% |
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 | -37.77% | -50.34% | +12.57% |
Average DrawdownAverage peak-to-trough decline | -57.12% | -50.69% | -6.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.95% | 18.96% | -11.01% |
Volatility
DBE vs. OILU - Volatility Comparison
The current volatility for Invesco DB Energy Fund (DBE) is 15.88%, while MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) has a volatility of 20.19%. This indicates that DBE experiences smaller price fluctuations and is considered to be less risky than OILU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBE | OILU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.88% | 20.19% | -4.31% |
Volatility (6M)Calculated over the trailing 6-month period | 33.82% | 51.63% | -17.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 37.86% | 64.20% | -26.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.19% | 80.75% | -50.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.64% | 80.75% | -52.11% |
DBE vs. OILU - Expense Ratio Comparison
DBE has a 0.78% expense ratio, which is lower than OILU's 0.95% expense ratio.
Dividends
DBE vs. OILU - Dividend Comparison
DBE's dividend yield for the trailing twelve months is around 2.36%, while OILU has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.36% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% |
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DBE and OILU have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OILU has higher volatility (20.19%) compared to DBE (15.88%). In terms of maximum drawdown, DBE dropped -86.69% vs OILU's -81.00%.
On 3-year performance, DBE leads with 13.55% vs -0.34% for OILU. On fees, DBE is cheaper at 0.78% per year. On volatility, DBE has been the lower-risk option at 15.88%. 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 13.55% return vs -0.34%. 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 OILU.
DBE has the higher dividend yield at 2.36%, compared with 0.00% for OILU.
DBE is categorized as Oil & Gas, while OILU is Leveraged Equities. DBE tracks DBIQ Optimum Yield Energy Index, while OILU tracks Solactive MicroSectors Oil & Gas Exploration & Production Index. They also come from different issuers: Invesco and BMO. Their fees differ too: 0.78% for DBE and 0.95% for OILU.
OILU currently has the higher Sharpe Ratio (1.53 vs 1.48), 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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