DEW vs. DBE

Last updated Jun 4, 2026

DEW (WisdomTree Global High Dividend Fund) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - DEW is a Large Cap Value Equities fund tracking the WisdomTree Global High Dividend Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 10 years, DEW returned 9.30%/yr vs 12.03%/yr for DBE. At a 0.35 correlation, their price movements are largely independent. DEW charges 0.58%/yr vs 0.78%/yr for DBE.

Performance

DEW vs. DBE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Global High Dividend Fund (DEW) and Invesco DB Energy Fund (DBE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DEW achieves a 11.59% return, which is significantly lower than DBE's 83.68% return. Over the past 10 years, DEW has underperformed DBE with an annualized return of 9.30%, while DBE has yielded a comparatively higher 12.03% annualized return.

DEW

• 1D: -0.19%
• 1M: 0.84%
• YTD: 11.59%
• 6M: 12.75%
• 1Y: 25.31%
• 3Y*: 18.77%
• 5Y*: 10.67%
• 10Y*: 9.30%

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)

DEW vs. DBE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DEW WisdomTree Global High Dividend Fund	11.59%	22.39%	11.58%	9.39%	-2.73%	21.29%	-7.32%	20.45%	-10.58%	15.38%
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 DEW and DBE is -0.15, 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	-0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.03
Correlation (5Y) Calculated over the trailing 5-year period	0.20
Correlation (10Y) Calculated over the trailing 10-year period	0.29
Correlation (All Time) Calculated using the full available price history since Jan 8, 2007	0.35

The correlation between DEW and DBE shifts across timeframes, from -0.15 (1 year) to 0.35 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DEW vs. DBE — Risk / Return Rank

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

DEW

DEW Risk / Return Rank: 80
DEW Sharpe Ratio Rank: 81
DEW Sortino Ratio Rank: 82
DEW Omega Ratio Rank: 78
DEW Calmar Ratio Rank: 78
DEW Martin Ratio Rank: 80

DBE

DBE Risk / Return Rank: 71
DBE Sharpe Ratio Rank: 74
DBE Sortino Ratio Rank: 63
DBE Omega Ratio Rank: 65
DBE Calmar Ratio Rank: 91
DBE Martin Ratio Rank: 63

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.

DEW vs. DBE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Global High Dividend Fund (DEW) 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.

	DEW	DBE	Difference
Sharpe ratio: Return per unit of total volatility	2.64	2.43	+0.22
Sortino ratio: Return per unit of downside risk	3.70	2.96	+0.74
Omega ratio: Gain probability vs. loss probability	1.47	1.40	+0.07
Calmar ratio: Return relative to maximum drawdown	4.01	5.89	-1.88
Martin ratio: Return relative to average drawdown	15.80	11.53	+4.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DEW vs. DBE - Sharpe Ratio Comparison

The current DEW Sharpe Ratio is 2.64, which is comparable to the DBE Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of DEW 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.

Sharpe Ratios by Period

	DEW	DBE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.64	2.43	+0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.83	0.67	+0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.60	0.43	+0.17
Sharpe Ratio (All Time) Calculated using the full available price history	0.28	0.09	+0.19

Drawdowns

DEW vs. DBE - Drawdown Comparison

The maximum DEW drawdown since its inception was -65.55%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for DEW and DBE.

Drawdown Indicators

	DEW	DBE	Difference
Max Drawdown Largest peak-to-trough decline	-65.55%	-86.69%	+21.14%
Max Drawdown (1Y) Largest decline over 1 year	-6.34%	-14.41%	+8.07%
Max Drawdown (3Y) Largest decline over 3 years	-11.80%	-23.89%	+12.09%
Max Drawdown (5Y) Largest decline over 5 years	-18.86%	-38.74%	+19.88%
Max Drawdown (10Y) Largest decline over 10 years	-38.77%	-60.84%	+22.07%
Current Drawdown Current decline from peak	-1.29%	-30.27%	+28.98%
Average Drawdown Average peak-to-trough decline	-12.44%	-57.31%	+44.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.61%	7.35%	-5.74%

Volatility

DEW vs. DBE - Volatility Comparison

The current volatility for WisdomTree Global High Dividend Fund (DEW) is 2.79%, while Invesco DB Energy Fund (DBE) has a volatility of 12.95%. This indicates that DEW 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.

Volatility by Period

	DEW	DBE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.79%	12.95%	-10.16%
Volatility (6M) Calculated over the trailing 6-month period	7.16%	30.86%	-23.70%
Volatility (1Y) Calculated over the trailing 1-year period	9.61%	34.97%	-25.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.99%	29.39%	-16.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.53%	28.33%	-12.80%

DEW vs. DBE - Expense Ratio Comparison

DEW has a 0.58% expense ratio, which is lower than DBE's 0.78% expense ratio.

Dividends

DEW vs. DBE - Dividend Comparison

DEW's dividend yield for the trailing twelve months is around 3.22%, more 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%
DEW WisdomTree Global High Dividend Fund	3.22%	3.71%	4.02%	4.55%	3.82%	3.55%	4.10%	3.74%	4.17%	3.18%	3.42%	4.32%

Frequently Asked Questions

Can I hold both DEW and DBE in my portfolio?

DEW and DBE have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DEW or DBE?

DBE has higher volatility (12.95%) compared to DEW (2.79%). In terms of maximum drawdown, DEW dropped -65.55% vs DBE's -86.69%.

Which ETF is better, DEW or DBE?

On 10-year performance, DBE leads with 12.03% vs 9.30% for DEW. On fees, DEW is cheaper at 0.58% per year. On volatility, DEW has been the lower-risk option at 2.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DEW or DBE?

Over the 10-year period, DBE has performed better with a 12.03% return vs 9.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DEW or DBE?

DEW is cheaper with a 0.58% expense ratio, compared with 0.78% for DBE.

Which ETF pays a higher dividend yield, DEW or DBE?

DEW has the higher dividend yield at 3.22%, compared with 2.10% for DBE.

What is the main difference between DEW and DBE?

DEW is categorized as Large Cap Value Equities, while DBE is Oil & Gas. DEW tracks WisdomTree Global High Dividend Index, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: WisdomTree and Invesco. Their fees differ too: 0.58% for DEW and 0.78% for DBE.

Which has better risk-adjusted returns?

DEW currently has the higher Sharpe Ratio (2.64 vs 2.43), 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.