DBE vs. QOWZ
DBE (Invesco DB Energy Fund) and QOWZ (Invesco Nasdaq Free Cash Flow Achievers ETF) are both exchange-traded funds - DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index, while QOWZ is a Large Cap Growth Equities fund tracking the Nasdaq US Free Cash Flow Achievers Index - Benchmark TR Gross. Both are passively managed. Over the past year, DBE returned 76.30% vs -0.84% for QOWZ. At a correlation of -0.06, they often move in opposite directions. DBE charges 0.78%/yr vs 0.39%/yr for QOWZ.
Performance
DBE vs. QOWZ - Performance Comparison
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Returns By Period
In the year-to-date period, DBE achieves a 75.49% return, which is significantly higher than QOWZ's -5.00% return.
DBE
- 1D
- -1.98%
- 1M
- -1.03%
- YTD
- 75.49%
- 6M
- 64.58%
- 1Y
- 76.30%
- 3Y*
- 21.68%
- 5Y*
- 18.57%
- 10Y*
- 11.19%
QOWZ
- 1D
- -2.94%
- 1M
- 2.32%
- YTD
- -5.00%
- 6M
- -6.51%
- 1Y
- -0.84%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DBE vs. QOWZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
DBE Invesco DB Energy Fund | 75.49% | -2.17% | 2.96% | 0.69% |
QOWZ Invesco Nasdaq Free Cash Flow Achievers ETF | -5.00% | 7.24% | 33.16% | 6.47% |
Correlation
The correlation between DBE and QOWZ is -0.23, 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 | -0.23 |
Correlation (All Time) Calculated using the full available price history since Dec 7, 2023 | -0.06 |
The correlation between DBE and QOWZ shifts across timeframes, from -0.23 (1 year) to -0.06 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DBE vs. QOWZ — Risk / Return Rank
DBE
QOWZ
DBE vs. QOWZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB Energy Fund (DBE) and Invesco Nasdaq Free Cash Flow Achievers ETF (QOWZ). 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 | QOWZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.24 | ||
| Sortino ratioReturn per unit of downside risk | +2.70 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.00 | +0.36 |
| Calmar ratioReturn relative to maximum drawdown | 5.32 | -0.05 | +5.37 |
| Martin ratioReturn relative to average drawdown | 10.35 | -0.12 | +10.48 |
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 | QOWZ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.18 | -0.05 | +2.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.63 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.40 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.09 | 0.83 | -0.74 |
Drawdowns
DBE vs. QOWZ - Drawdown Comparison
The maximum DBE drawdown since its inception was -86.69%, which is greater than QOWZ's maximum drawdown of -20.36%. Use the drawdown chart below to compare losses from any high point for DBE and QOWZ.
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Drawdown Indicators
| DBE | QOWZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.69% | -20.36% | -66.33% |
Max Drawdown (1Y)Largest decline over 1 year | -14.41% | -17.81% | +3.40% |
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 | -33.38% | -8.62% | -24.76% |
Average DrawdownAverage peak-to-trough decline | -57.30% | -3.99% | -53.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.39% | 6.74% | +0.65% |
Volatility
DBE vs. QOWZ - Volatility Comparison
Invesco DB Energy Fund (DBE) has a higher volatility of 11.07% compared to Invesco Nasdaq Free Cash Flow Achievers ETF (QOWZ) at 6.04%. This indicates that DBE's price experiences larger fluctuations and is considered to be riskier than QOWZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBE | QOWZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.07% | 6.04% | +5.03% |
Volatility (6M)Calculated over the trailing 6-month period | 31.06% | 12.33% | +18.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 35.12% | 15.53% | +19.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.41% | 19.33% | +10.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.34% | 19.33% | +9.01% |
DBE vs. QOWZ - Expense Ratio Comparison
DBE has a 0.78% expense ratio, which is higher than QOWZ's 0.39% expense ratio.
Dividends
DBE vs. QOWZ - Dividend Comparison
DBE's dividend yield for the trailing twelve months is around 2.20%, more than QOWZ's 0.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.20% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% |
QOWZ Invesco Nasdaq Free Cash Flow Achievers ETF | 0.27% | 0.28% | 0.66% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DBE and QOWZ have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBE has higher volatility (11.07%) compared to QOWZ (6.04%). In terms of maximum drawdown, DBE dropped -86.69% vs QOWZ's -20.36%.
On 1-year performance, DBE leads with 76.30% vs -0.84% for QOWZ. On fees, QOWZ is cheaper at 0.39% per year. On volatility, QOWZ has been the lower-risk option at 6.04%. 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 76.30% return vs -0.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
QOWZ is cheaper with a 0.39% expense ratio, compared with 0.78% for DBE.
DBE has the higher dividend yield at 2.20%, compared with 0.27% for QOWZ.
DBE is categorized as Oil & Gas, while QOWZ is Large Cap Growth Equities. DBE tracks DBIQ Optimum Yield Energy Index, while QOWZ tracks Nasdaq US Free Cash Flow Achievers Index - Benchmark TR Gross. Their fees differ too: 0.78% for DBE and 0.39% for QOWZ.
DBE currently has the higher Sharpe Ratio (2.18 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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