DDM vs. DBE
DDM (ProShares Ultra Dow30) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - DDM is a Leveraged Equities fund tracking the Dow Jones Industrial Average Index (200%), while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 10 years, DDM returned 19.50%/yr vs 12.03%/yr for DBE. At a 0.27 correlation, their price movements are largely independent. DDM charges 0.95%/yr vs 0.78%/yr for DBE.
Performance
DDM vs. DBE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, DDM achieves a 9.35% return, which is significantly lower than DBE's 83.68% return. Over the past 10 years, DDM has outperformed DBE with an annualized return of 19.50%, while DBE has yielded a comparatively lower 12.03% annualized return.
DDM
- 1D
- -2.29%
- 1M
- 7.27%
- YTD
- 9.35%
- 6M
- 9.82%
- 1Y
- 36.48%
- 3Y*
- 24.94%
- 5Y*
- 11.93%
- 10Y*
- 19.50%
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%
DDM vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DDM ProShares Ultra Dow30 | 9.35% | 20.59% | 21.60% | 24.34% | -19.48% | 41.97% | 2.14% | 47.98% | -13.46% | 59.56% |
DBE Invesco DB Energy Fund | 83.68% | -2.17% | 2.96% | -12.14% | 33.77% | 57.56% | -25.91% | 19.72% | -12.95% | 5.21% |
Correlation
The correlation between DDM and DBE is -0.36, 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 | -0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Jan 8, 2007 | 0.27 |
The correlation between DDM and DBE shifts across timeframes, from -0.36 (1 year) to 0.27 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
DDM vs. DBE — Risk / Return Rank
DDM
DBE
DDM vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Dow30 (DDM) and Invesco DB Energy Fund (DBE). 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.
| DDM | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.91 | ||
| Sortino ratioReturn per unit of downside risk | -0.79 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.40 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 1.90 | 5.89 | -3.99 |
| Martin ratioReturn relative to average drawdown | 6.97 | 11.53 | -4.56 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| DDM | DBE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.51 | 2.43 | -0.91 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.41 | 0.67 | -0.27 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | 0.43 | +0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 0.09 | +0.30 |
Drawdowns
DDM vs. DBE - Drawdown Comparison
The maximum DDM drawdown since its inception was -81.70%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for DDM and DBE.
Loading charts...
Drawdown Indicators
| DDM | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.70% | -86.69% | +4.99% |
Max Drawdown (1Y)Largest decline over 1 year | -19.31% | -14.41% | -4.90% |
Max Drawdown (3Y)Largest decline over 3 years | -31.62% | -23.89% | -7.73% |
Max Drawdown (5Y)Largest decline over 5 years | -40.18% | -38.74% | -1.44% |
Max Drawdown (10Y)Largest decline over 10 years | -63.13% | -60.84% | -2.29% |
Current DrawdownCurrent decline from peak | -2.29% | -30.27% | +27.98% |
Average DrawdownAverage peak-to-trough decline | -17.33% | -57.31% | +39.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.25% | 7.35% | -2.10% |
Volatility
DDM vs. DBE - Volatility Comparison
The current volatility for ProShares Ultra Dow30 (DDM) is 5.95%, while Invesco DB Energy Fund (DBE) has a volatility of 12.95%. This indicates that DDM experiences smaller price fluctuations and is considered to be less risky than DBE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| DDM | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.95% | 12.95% | -7.00% |
Volatility (6M)Calculated over the trailing 6-month period | 18.62% | 30.86% | -12.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.25% | 34.97% | -10.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.53% | 29.39% | +0.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.76% | 28.33% | +6.43% |
DDM vs. DBE - Expense Ratio Comparison
DDM has a 0.95% expense ratio, which is higher than DBE's 0.78% expense ratio.
Dividends
DDM vs. DBE - Dividend Comparison
DDM's dividend yield for the trailing twelve months is around 0.91%, less than DBE's 2.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.10% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% | 0.00% | 0.00% | 0.00% |
DDM ProShares Ultra Dow30 | 0.91% | 0.94% | 1.00% | 0.27% | 0.83% | 0.18% | 0.31% | 0.62% | 0.89% | 0.68% | 1.08% | 1.23% |
Frequently Asked Questions
DDM and DBE have a correlation of -0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBE has higher volatility (12.95%) compared to DDM (5.95%). In terms of maximum drawdown, DDM dropped -81.70% vs DBE's -86.69%.
On 10-year performance, DDM leads with 19.50% vs 12.03% for DBE. On fees, DBE is cheaper at 0.78% per year. On volatility, DDM has been the lower-risk option at 5.95%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DDM has performed better with a 19.50% return vs 12.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DBE is cheaper with a 0.78% expense ratio, compared with 0.95% for DDM.
DBE has the higher dividend yield at 2.10%, compared with 0.91% for DDM.
DDM is categorized as Leveraged Equities, while DBE is Oil & Gas. DDM tracks Dow Jones Industrial Average Index (200%), while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: ProShares and Invesco. Their fees differ too: 0.95% for DDM and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (2.43 vs 1.51), 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.
Find the right allocation for DDM and DBE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer