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DEEF vs. DBE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

DEEF vs. DBE

Last updated Jun 4, 2026

DEEF (Xtrackers FTSE Developed ex US Multifactor ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - DEEF is a Foreign Large Cap Equities fund tracking the FTSE Developed ex US Comprehensive Factor Net Tax (US RIC) Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 10 years, DEEF returned 8.28%/yr vs 12.03%/yr for DBE. At a 0.19 correlation, their price movements are largely independent. DEEF charges 0.24%/yr vs 0.78%/yr for DBE.

Performance

DEEF vs. DBE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers FTSE Developed ex US Multifactor ETF (DEEF) and Invesco DB Energy Fund (DBE). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, DEEF achieves a 10.24% return, which is significantly lower than DBE's 83.68% return. Over the past 10 years, DEEF has underperformed DBE with an annualized return of 8.28%, while DBE has yielded a comparatively higher 12.03% annualized return.

DEEF

1D
-0.08%
1M
2.38%
YTD
10.24%
6M
13.08%
1Y
23.80%
3Y*
17.65%
5Y*
7.51%
10Y*
8.28%

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

DEEF vs. DBE - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
DEEF
Xtrackers FTSE Developed ex US Multifactor ETF		10.24%32.36%2.77%16.99%-16.94%9.22%7.90%19.30%-14.50%29.23%
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 DEEF and DBE is -0.38, 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

-0.38

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

0.19

Correlation (All Time)
Calculated using the full available price history since Nov 25, 2015

0.19

The correlation between DEEF and DBE shifts across timeframes, from -0.38 (1 year) to 0.19 (10 years), 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.

Xtrackers FTSE Developed ex US Multifactor ETF

Invesco DB Energy Fund

Often compared with DEEF:
DEEF vs. QLVDDEEF vs. VOODEEF vs. VYMIDEEF vs. HDEFDEEF vs. SPYDEEF vs. VXUSDEEF vs. EFAV
Often compared with DBE:
DBE vs. DBBDBE vs. XLEDBE vs. VDEDBE vs. COMTDBE vs. XLKDBE vs. GLDDBE vs. TIP

Return for Risk

DEEF vs. DBE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
DEEF
DEEF Risk / Return Rank: 4949
Overall Rank
DEEF Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
DEEF Sortino Ratio Rank: 5050
Sortino Ratio Rank
DEEF Omega Ratio Rank: 5252
Omega Ratio Rank
DEEF Calmar Ratio Rank: 4646
Calmar Ratio Rank
DEEF Martin Ratio Rank: 4747
Martin Ratio Rank
DBE
DBE Risk / Return Rank: 7171
Overall Rank
DBE Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
DBE Sortino Ratio Rank: 6363
Sortino Ratio Rank
DBE Omega Ratio Rank: 6565
Omega Ratio Rank
DBE Calmar Ratio Rank: 9191
Calmar Ratio Rank
DBE Martin Ratio Rank: 6363
Martin Ratio Rank
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.

DEEF vs. DBE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers FTSE Developed ex US Multifactor ETF (DEEF) 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.

DEEFDBEDifference
Sharpe ratioReturn per unit of total volatility
1.77
2.43

-0.66

Sortino ratioReturn per unit of downside risk
2.43
2.96

-0.52

Omega ratioGain probability vs. loss probability

1.32

1.40

-0.08

Calmar ratioReturn relative to maximum drawdown

2.25

5.89

-3.64

Martin ratioReturn relative to average drawdown

7.82

11.53

-3.71

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DEEF vs. DBE - Sharpe Ratio Comparison

The current DEEF Sharpe Ratio is 1.77, which is comparable to the DBE Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of DEEF and DBE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

DEEFDBEDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.77

2.43

-0.66

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.51

0.67

-0.17

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.51

0.43

+0.08

Sharpe Ratio (All Time)

Calculated using the full available price history

0.50

0.09

+0.40

Drawdowns

DEEF vs. DBE - Drawdown Comparison

The maximum DEEF drawdown since its inception was -36.48%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for DEEF and DBE.

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Drawdown Indicators

DEEFDBEDifference

Max Drawdown

Largest peak-to-trough decline

-36.48%

-86.69%

+50.21%

Max Drawdown (1Y)

Largest decline over 1 year

-10.64%

-14.41%

+3.77%

Max Drawdown (3Y)

Largest decline over 3 years

-11.07%

-23.89%

+12.82%

Max Drawdown (5Y)

Largest decline over 5 years

-31.08%

-38.74%

+7.66%

Max Drawdown (10Y)

Largest decline over 10 years

-36.48%

-60.84%

+24.36%

Current Drawdown

Current decline from peak

-3.63%

-30.27%

+26.64%

Average Drawdown

Average peak-to-trough decline

-7.09%

-57.31%

+50.22%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.05%

7.35%

-4.30%

Volatility

DEEF vs. DBE - Volatility Comparison

The current volatility for Xtrackers FTSE Developed ex US Multifactor ETF (DEEF) is 3.88%, while Invesco DB Energy Fund (DBE) has a volatility of 12.95%. This indicates that DEEF 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.

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Volatility by Period

DEEFDBEDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.88%

12.95%

-9.07%

Volatility (6M)

Calculated over the trailing 6-month period

11.62%

30.86%

-19.24%

Volatility (1Y)

Calculated over the trailing 1-year period

13.53%

34.97%

-21.44%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.93%

29.39%

-14.46%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.29%

28.33%

-12.04%

DEEF vs. DBE - Expense Ratio Comparison

DEEF has a 0.24% expense ratio, which is lower than DBE's 0.78% expense ratio.

Dividends

DEEF vs. DBE - Dividend Comparison

DEEF's dividend yield for the trailing twelve months is around 3.38%, more than DBE's 2.10% yield.

PositionTTM2025202420232022202120202019201820172016
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%
DEEF
Xtrackers FTSE Developed ex US Multifactor ETF		3.38%3.63%4.04%3.96%3.31%3.84%2.71%3.74%2.80%2.61%4.35%

Frequently Asked Questions

DEEF and DBE have a correlation of -0.38, 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 DEEF (3.88%). In terms of maximum drawdown, DEEF dropped -36.48% vs DBE's -86.69%.

On 10-year performance, DBE leads with 12.03% vs 8.28% for DEEF. On fees, DEEF is cheaper at 0.24% per year. On volatility, DEEF has been the lower-risk option at 3.88%. 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 12.03% return vs 8.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

DEEF is cheaper with a 0.24% expense ratio, compared with 0.78% for DBE.

DEEF has the higher dividend yield at 3.38%, compared with 2.10% for DBE.

DEEF is categorized as Foreign Large Cap Equities, while DBE is Oil & Gas. DEEF tracks FTSE Developed ex US Comprehensive Factor Net Tax (US RIC) Index, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: Deutsche Bank and Invesco. Their fees differ too: 0.24% for DEEF and 0.78% for DBE.

DBE currently has the higher Sharpe Ratio (2.43 vs 1.77), 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.

Portfolio Optimizer

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