DCRE vs. PSCE

Last updated Jun 25, 2026

DCRE (DoubleLine Commercial Real Estate ETF) and PSCE (Invesco S&P SmallCap Energy ETF) are both exchange-traded funds - DCRE is a Short-Term Bond fund actively managed by DoubleLine, while PSCE is a Energy Equities fund tracking the S&P SmallCap 600 Energy Index. DCRE is actively managed, while PSCE is passively managed. Over the past 3 years, DCRE returned 6.12%/yr vs 9.42%/yr for PSCE. At a correlation of -0.07, they often move in opposite directions. DCRE charges 0.40%/yr vs 0.29%/yr for PSCE.

Performance

DCRE vs. PSCE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DoubleLine Commercial Real Estate ETF (DCRE) and Invesco S&P SmallCap Energy ETF (PSCE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DCRE achieves a 1.56% return, which is significantly lower than PSCE's 29.21% return.

DCRE

• 1D: 0.09%
• 1M: 0.38%
• YTD: 1.56%
• 6M: 1.67%
• 1Y: 4.42%
• 3Y*: 6.12%
• 5Y*: —
• 10Y*: —

PSCE

• 1D: -2.38%
• 1M: -11.98%
• YTD: 29.21%
• 6M: 29.24%
• 1Y: 43.54%
• 3Y*: 9.42%
• 5Y*: 7.87%
• 10Y*: -2.65%

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

DCRE vs. PSCE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DCRE DoubleLine Commercial Real Estate ETF	1.56%	5.86%	6.86%	5.22%
PSCE Invesco S&P SmallCap Energy ETF	29.21%	-9.00%	-5.47%	7.52%

Correlation

The correlation between DCRE and PSCE is -0.13, 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	-0.13
Correlation (3Y) Calculated over the trailing 3-year period	-0.06
Correlation (All Time) Calculated using the full available price history since Apr 4, 2023	-0.07

Return for Risk

DCRE vs. PSCE — Risk / Return Rank

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

DCRE

DCRE Risk / Return Rank: 96
DCRE Sharpe Ratio Rank: 96
DCRE Sortino Ratio Rank: 98
DCRE Omega Ratio Rank: 97
DCRE Calmar Ratio Rank: 94
DCRE Martin Ratio Rank: 94

PSCE

PSCE Risk / Return Rank: 56
PSCE Sharpe Ratio Rank: 52
PSCE Sortino Ratio Rank: 48
PSCE Omega Ratio Rank: 45
PSCE Calmar Ratio Rank: 71
PSCE Martin Ratio Rank: 64

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.

DCRE vs. PSCE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DoubleLine Commercial Real Estate ETF (DCRE) and Invesco S&P SmallCap Energy ETF (PSCE). 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.

	DCRE	PSCE	Difference
Sharpe ratio: Return per unit of total volatility	3.82	1.60	+2.22
Sortino ratio: Return per unit of downside risk	6.50	2.15	+4.35
Omega ratio: Gain probability vs. loss probability	1.86	1.26	+0.59
Calmar ratio: Return relative to maximum drawdown	6.51	3.19	+3.32
Martin ratio: Return relative to average drawdown	23.63	10.32	+13.31

DCRE vs. PSCE - Sharpe Ratio Comparison

The current DCRE Sharpe Ratio is 3.82, which is higher than the PSCE Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of DCRE and PSCE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DCRE vs. PSCE - Drawdown Comparison

The maximum DCRE drawdown since its inception was -0.84%, smaller than the maximum PSCE drawdown of -96.21%. Use the drawdown chart below to compare losses from any high point for DCRE and PSCE.

Drawdown Indicators

	DCRE	PSCE	Difference
Max Drawdown Largest peak-to-trough decline	-0.84%	-96.21%	+95.37%
Max Drawdown (1Y) Largest decline over 1 year	-0.68%	-13.72%	+13.04%
Max Drawdown (3Y) Largest decline over 3 years	-0.84%	-44.57%	+43.73%
Max Drawdown (5Y) Largest decline over 5 years	—	-45.42%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-90.70%	—
Current Drawdown Current decline from peak	-0.09%	-77.04%	+76.95%
Average Drawdown Average peak-to-trough decline	-0.11%	-58.88%	+58.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.19%	4.23%	-4.04%

Volatility

DCRE vs. PSCE - Volatility Comparison

The current volatility for DoubleLine Commercial Real Estate ETF (DCRE) is 0.36%, while Invesco S&P SmallCap Energy ETF (PSCE) has a volatility of 9.00%. This indicates that DCRE experiences smaller price fluctuations and is considered to be less risky than PSCE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DCRE	PSCE	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.36%	9.00%	-8.64%
Volatility (6M) Calculated over the trailing 6-month period	0.92%	19.12%	-18.20%
Volatility (1Y) Calculated over the trailing 1-year period	1.16%	27.38%	-26.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.58%	37.39%	-35.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.58%	43.19%	-41.61%

DCRE vs. PSCE - Expense Ratio Comparison

DCRE has a 0.40% expense ratio, which is higher than PSCE's 0.29% expense ratio.

Dividends

DCRE vs. PSCE - Dividend Comparison

DCRE's dividend yield for the trailing twelve months is around 4.74%, more than PSCE's 2.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DCRE DoubleLine Commercial Real Estate ETF	4.74%	4.84%	5.52%	3.47%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PSCE Invesco S&P SmallCap Energy ETF	2.34%	2.39%	1.70%	2.57%	1.70%	0.46%	0.87%	0.14%	0.22%	0.04%	0.22%	0.82%

Frequently Asked Questions

Can I hold both DCRE and PSCE in my portfolio?

DCRE and PSCE have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DCRE or PSCE?

PSCE has higher volatility (9.00%) compared to DCRE (0.36%). In terms of maximum drawdown, DCRE dropped -0.84% vs PSCE's -96.21%.

Which ETF is better, DCRE or PSCE?

On 3-year performance, PSCE leads with 9.42% vs 6.12% for DCRE. On fees, PSCE is cheaper at 0.29% per year. On volatility, DCRE has been the lower-risk option at 0.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DCRE or PSCE?

Over the 3-year period, PSCE has performed better with a 9.42% return vs 6.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DCRE or PSCE?

PSCE is cheaper with a 0.29% expense ratio, compared with 0.40% for DCRE.

Which ETF pays a higher dividend yield, DCRE or PSCE?

DCRE has the higher dividend yield at 4.74%, compared with 2.34% for PSCE.

What is the main difference between DCRE and PSCE?

DCRE is categorized as Short-Term Bond, while PSCE is Energy Equities. They also come from different issuers: DoubleLine and Invesco. Their fees differ too: 0.40% for DCRE and 0.29% for PSCE.

Which has better risk-adjusted returns?

DCRE currently has the higher Sharpe Ratio (3.82 vs 1.60), 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.