DBE vs. PBOG
DBE (Invesco DB Energy Fund) and PBOG (Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF) are both Oil & Gas funds - DBE tracks the DBIQ Optimum Yield Energy Index while PBOG tracks the BITA Global Oil & Gas Select Index. Both are passively managed. A 0.70 correlation means they provide meaningful diversification when combined. DBE charges 0.78%/yr vs 0.13%/yr for PBOG.
Performance
DBE vs. PBOG - Performance Comparison
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Returns By Period
In the year-to-date period, DBE achieves a 83.68% return, which is significantly higher than PBOG's 32.22% return.
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%
PBOG
- 1D
- 1.23%
- 1M
- -2.32%
- YTD
- 32.22%
- 6M
- 29.70%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DBE vs. PBOG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DBE Invesco DB Energy Fund | 83.68% | -2.85% |
PBOG Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF | 32.22% | 1.62% |
Correlation
The correlation between DBE and PBOG is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Nov 26, 2025 | 0.70 |
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Return for Risk
DBE vs. PBOG — Risk / Return Rank
DBE
PBOG
DBE vs. PBOG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB Energy Fund (DBE) and Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF (PBOG). 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 | PBOG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.40 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 5.89 | — | — |
| Martin ratioReturn 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. | |||
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Sharpe Ratios by Period
| DBE | PBOG | 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 | 3.31 | -3.22 |
Drawdowns
DBE vs. PBOG - Drawdown Comparison
The maximum DBE drawdown since its inception was -86.69%, which is greater than PBOG's maximum drawdown of -11.45%. Use the drawdown chart below to compare losses from any high point for DBE and PBOG.
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Drawdown Indicators
| DBE | PBOG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.69% | -11.45% | -75.24% |
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 DrawdownCurrent decline from peak | -30.27% | -6.81% | -23.46% |
Average DrawdownAverage peak-to-trough decline | -57.31% | -3.10% | -54.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.35% | — | — |
Volatility
DBE vs. PBOG - Volatility Comparison
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Volatility by Period
| DBE | PBOG | 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% | 23.67% | +11.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.39% | 23.67% | +5.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.33% | 23.67% | +4.66% |
DBE vs. PBOG - Expense Ratio Comparison
DBE has a 0.78% expense ratio, which is higher than PBOG's 0.13% expense ratio.
Dividends
DBE vs. PBOG - Dividend Comparison
DBE's dividend yield for the trailing twelve months is around 2.10%, more than PBOG's 0.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.10% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% |
PBOG Portfolio Building Block Integrated Oil & Gas and Exploration & Production Index ETF | 0.13% | 0.17% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DBE and PBOG have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, PBOG is cheaper at 0.13% per year. The better choice depends on whether you care most about return, fees, risk, or income.
PBOG is cheaper with a 0.13% expense ratio, compared with 0.78% for DBE.
DBE has the higher dividend yield at 2.10%, compared with 0.13% for PBOG.
DBE tracks DBIQ Optimum Yield Energy Index, while PBOG tracks BITA Global Oil & Gas Select Index. They also come from different issuers: Invesco and Portfolio Building Blocks. Their fees differ too: 0.78% for DBE and 0.13% for PBOG.
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