DBE vs. TIP
DBE (Invesco DB Energy Fund) and TIP (iShares TIPS Bond ETF) are both exchange-traded funds - DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index, while TIP is a Inflation-Protected Bonds fund tracking the ICE U.S. Treasury Inflation Linked Bond Index. Both are passively managed. Over the past 10 years, DBE returned 13.17%/yr vs 2.37%/yr for TIP. Their 0.01 correlation means their historical movements had little consistent relationship. DBE charges 0.78%/yr vs 0.18%/yr for TIP.
Performance
DBE vs. TIP - Performance Comparison
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Returns By Period
In the year-to-date period, DBE achieves a 78.87% return, which is significantly higher than TIP's 0.54% return. Over the past 10 years, DBE has outperformed TIP with an annualized return of 13.17%, while TIP has yielded a comparatively lower 2.37% annualized return.
DBE
- 1D
- 1.13%
- 1M
- 21.13%
- 6M
- 53.89%
- YTD
- 78.87%
- 1Y
- 68.62%
- 3Y*
- 17.16%
- 5Y*
- 17.73%
- 10Y*
- 13.17%
- ALL TIME*
- 2.52%
TIP
- 1D
- -0.10%
- 1M
- -0.65%
- 6M
- 0.02%
- YTD
- 0.54%
- 1Y
- 1.79%
- 3Y*
- 3.73%
- 5Y*
- 0.16%
- 10Y*
- 2.37%
- ALL TIME*
- 3.46%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.24M | $1.18M | $1.76M | |
| $209.70M | $179.93M | $215.65M |
DBE vs. TIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 78.87% | -2.17% | 2.96% | -12.14% | 33.77% | 57.56% | -25.91% | 19.72% | -12.95% | 5.21% |
TIP iShares TIPS Bond ETF | 0.54% | 6.77% | 1.65% | 3.80% | -12.26% | 5.68% | 10.84% | 8.35% | -1.42% | 2.92% |
Correlation
The correlation between DBE and TIP is -0.20, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.20 |
Correlation (3Y) Balances recent behavior with more history. | -0.10 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.02 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.02 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 2007 | 0.01 |
The correlation between DBE and TIP shifts across timeframes, from -0.20 (1 year) to 0.02 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
DBE vs. TIP — Risk / Return Rank
DBE
TIP
DBE vs. TIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DB Energy Fund (DBE) and iShares TIPS Bond ETF (TIP). 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 | TIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.97 | ||
| Sortino ratioReturn per unit of downside risk | +1.20 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.13 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.59 | 1.27 | +1.32 |
| Martin ratioReturn relative to average drawdown | 8.14 | 3.39 | +4.75 |
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Drawdowns
DBE vs. TIP - Drawdown Comparison
The maximum DBE drawdown since its inception was -86.69%, which is greater than TIP's maximum drawdown of -14.57%. Use the drawdown chart below to compare losses from any high point for DBE and TIP.
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Drawdown Indicators
| DBE | TIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -86.69% | -14.57% | -72.12% |
Max Drawdown (1Y)Largest decline over 1 year | -24.72% | -1.98% | -22.74% |
Max Drawdown (3Y)Largest decline over 3 years | -24.72% | -3.71% | -21.01% |
Max Drawdown (5Y)Largest decline over 5 years | -38.74% | -14.51% | -24.23% |
Max Drawdown (10Y)Largest decline over 10 years | -60.84% | -14.51% | -46.33% |
Current DrawdownCurrent decline from peak | -32.09% | -1.31% | -30.78% |
Average DrawdownAverage peak-to-trough decline | -57.13% | -3.41% | -53.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.15% | 0.74% | +7.41% |
Volatility
DBE vs. TIP - Volatility Comparison
Invesco DB Energy Fund (DBE) has a higher volatility of 14.12% compared to iShares TIPS Bond ETF (TIP) at 0.73%. This indicates that DBE's price experiences larger fluctuations and is considered to be riskier than TIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBE | TIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.12% | 0.73% | +13.39% |
Volatility (6M)Calculated over the trailing 6-month period | 33.95% | 2.52% | +31.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 37.47% | 3.39% | +34.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.09% | 6.19% | +23.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 28.58% | 5.72% | +22.86% |
DBE vs. TIP - Expense Ratio Comparison
DBE has a 0.78% expense ratio, which is higher than TIP's 0.18% expense ratio.
Dividends
DBE vs. TIP - Dividend Comparison
DBE's dividend yield for the trailing twelve months is around 2.16%, less than TIP's 4.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.16% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% | 0.00% | 0.00% | 0.00% |
TIP iShares TIPS Bond ETF | 4.22% | 3.46% | 2.52% | 2.73% | 6.96% | 4.28% | 1.17% | 1.75% | 2.71% | 2.07% | 1.48% | 0.34% |
Frequently Asked Questions
DBE and TIP have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBE has higher volatility (14.12%) compared to TIP (0.73%). In terms of maximum drawdown, DBE dropped -86.69% vs TIP's -14.57%.
On 10-year performance, DBE leads with 13.17% vs 2.37% for TIP. On fees, TIP is cheaper at 0.18% per year. On volatility, TIP has been the lower-risk option at 0.73%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DBE has performed better with a 13.17% return vs 2.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TIP is cheaper with a 0.18% expense ratio, compared with 0.78% for DBE.
TIP has the higher dividend yield at 4.22%, compared with 2.16% for DBE.
DBE is categorized as Oil & Gas, while TIP is Inflation-Protected Bonds. DBE tracks DBIQ Optimum Yield Energy Index, while TIP tracks ICE U.S. Treasury Inflation Linked Bond Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.78% for DBE and 0.18% for TIP.
DBE currently has the higher Sharpe Ratio (1.71 vs 0.74), 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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