DBE vs. SOXL

Last updated Apr 2, 2026

Compare and contrast key facts about Invesco DB Energy Fund (DBE) and Direxion Daily Semiconductor Bull 3x Shares (SOXL).

DBE and SOXL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DBE is a passively managed fund by Invesco that tracks the performance of the DBIQ Optimum Yield Energy Index. It was launched on Jan 5, 2007. SOXL is a passively managed fund by Direxion that tracks the performance of the PHLX Semiconductor Index (300%). It was launched on Mar 11, 2010. Both DBE and SOXL are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

DBE vs. SOXL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco DB Energy Fund (DBE) and Direxion Daily Semiconductor Bull 3x Shares (SOXL). The values are adjusted to include any dividend payments, if applicable.

DBE vs. SOXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DBE Invesco DB Energy Fund	64.73%	-2.17%	2.96%	-12.14%	33.77%	57.56%	-25.91%	19.72%	-12.95%	5.21%
SOXL Direxion Daily Semiconductor Bull 3x Shares	24.34%	54.91%	-12.31%	226.98%	-85.66%	118.84%	70.04%	231.83%	-39.07%	141.71%

Returns By Period

In the year-to-date period, DBE achieves a 64.73% return, which is significantly higher than SOXL's 24.34% return. Over the past 10 years, DBE has underperformed SOXL with an annualized return of 13.08%, while SOXL has yielded a comparatively higher 41.10% annualized return.

DBE

• 1D: -2.38%
• 1M: 29.83%
• YTD: 64.73%
• 6M: 58.04%
• 1Y: 53.26%
• 3Y*: 17.17%
• 5Y*: 19.23%
• 10Y*: 13.08%

SOXL

• 1D: 9.08%
• 1M: -16.73%
• YTD: 24.34%
• 6M: 41.78%
• 1Y: 228.78%
• 3Y*: 42.83%
• 5Y*: 4.90%
• 10Y*: 41.10%

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

DBE vs. SOXL - Expense Ratio Comparison

DBE has a 0.78% expense ratio, which is lower than SOXL's 0.99% expense ratio.

SOXL

Direxion Daily Semiconductor Bull 3x Shares

DBE

Invesco DB Energy Fund

Return for Risk

DBE vs. SOXL — Risk / Return Rank

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

DBE

DBE Risk / Return Rank: 79
DBE Sharpe Ratio Rank: 83
DBE Sortino Ratio Rank: 84
DBE Omega Ratio Rank: 76
DBE Calmar Ratio Rank: 92
DBE Martin Ratio Rank: 61

SOXL

SOXL Risk / Return Rank: 90
SOXL Sharpe Ratio Rank: 89
SOXL Sortino Ratio Rank: 88
SOXL Omega Ratio Rank: 86
SOXL Calmar Ratio Rank: 96
SOXL Martin Ratio Rank: 93

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. SOXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco DB Energy Fund (DBE) and Direxion Daily Semiconductor Bull 3x Shares (SOXL). 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	SOXL	Difference
Sharpe ratio Return per unit of total volatility	1.69	1.93	-0.24
Sortino ratio Return per unit of downside risk	2.31	2.46	-0.15
Omega ratio Gain probability vs. loss probability	1.30	1.35	-0.05
Calmar ratio Return relative to maximum drawdown	3.57	4.64	-1.07
Martin ratio Return relative to average drawdown	6.35	14.09	-7.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DBE vs. SOXL - Sharpe Ratio Comparison

The current DBE Sharpe Ratio is 1.69, which is comparable to the SOXL Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of DBE and SOXL, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	DBE	SOXL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.69	1.93	-0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	0.05	+0.63
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	0.42	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	0.36	-0.29

Correlation

The correlation between DBE and SOXL is 0.21, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

DBE vs. SOXL - Dividend Comparison

DBE's dividend yield for the trailing twelve months is around 2.35%, more than SOXL's 0.15% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DBE Invesco DB Energy Fund	2.35%	3.86%	6.32%	3.87%	0.75%	0.00%	0.00%	1.79%	1.67%	0.00%	0.00%
SOXL Direxion Daily Semiconductor Bull 3x Shares	0.15%	0.34%	1.18%	0.51%	1.07%	0.04%	0.05%	0.38%	1.30%	0.09%	4.84%

Drawdowns

DBE vs. SOXL - Drawdown Comparison

The maximum DBE drawdown since its inception was -86.69%, roughly equal to the maximum SOXL drawdown of -90.46%. Use the drawdown chart below to compare losses from any high point for DBE and SOXL.

Drawdown Indicators

	DBE	SOXL	Difference
Max Drawdown Largest peak-to-trough decline	-86.69%	-90.46%	+3.77%
Max Drawdown (1Y) Largest decline over 1 year	-14.70%	-49.26%	+34.56%
Max Drawdown (5Y) Largest decline over 5 years	-38.74%	-90.46%	+51.72%
Max Drawdown (10Y) Largest decline over 10 years	-60.84%	-90.46%	+29.62%
Current Drawdown Current decline from peak	-37.46%	-27.28%	-10.18%
Average Drawdown Average peak-to-trough decline	-57.53%	-35.34%	-22.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.27%	16.23%	-7.96%

Volatility

DBE vs. SOXL - Volatility Comparison

The current volatility for Invesco DB Energy Fund (DBE) is 17.28%, while Direxion Daily Semiconductor Bull 3x Shares (SOXL) has a volatility of 38.35%. This indicates that DBE experiences smaller price fluctuations and is considered to be less risky than SOXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DBE	SOXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.28%	38.35%	-21.07%
Volatility (6M) Calculated over the trailing 6-month period	25.46%	79.93%	-54.47%
Volatility (1Y) Calculated over the trailing 1-year period	31.68%	119.50%	-87.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.57%	105.40%	-76.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.87%	97.72%	-69.85%