DFAR vs. DBE
DFAR (Dimensional US Real Estate ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - DFAR is a REIT fund actively managed by Dimensional, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. DFAR is actively managed, while DBE is passively managed. Over the past 3 years, DFAR returned 11.02%/yr vs 15.22%/yr for DBE. Their -0.01 correlation means they have often moved in opposite directions in the past. DFAR charges 0.19%/yr vs 0.78%/yr for DBE.
Performance
DFAR vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, DFAR achieves a 17.78% return, which is significantly lower than DBE's 71.26% return.
DFAR
- 1D
- -0.04%
- 1M
- 0.79%
- 6M
- 15.96%
- YTD
- 17.78%
- 1Y
- 19.56%
- 3Y*
- 11.02%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 4.68%
DBE
- 1D
- -4.26%
- 1M
- 15.98%
- 6M
- 57.84%
- YTD
- 71.26%
- 1Y
- 61.44%
- 3Y*
- 15.22%
- 5Y*
- 17.82%
- 10Y*
- 12.24%
- ALL TIME*
- 2.29%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.27M | $1.08M | $1.67M | |
| $67.51M | $62.78M | $64.52M |
DFAR vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
DFAR Dimensional US Real Estate ETF | 17.78% | 1.31% | 5.25% | 11.04% | -12.16% |
DBE Invesco DB Energy Fund | 71.26% | -2.17% | 2.96% | -12.14% | 11.29% |
Correlation
The correlation between DFAR and DBE is -0.18, 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. | -0.18 |
Correlation (3Y) Balances recent behavior with more history. | -0.12 |
Correlation (All Time) Calculated using the full available price history since Feb 24, 2022 | -0.01 |
The correlation between DFAR and DBE shifts across timeframes, from -0.18 (1 year) to -0.01 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DFAR vs. DBE — Risk / Return Rank
DFAR
DBE
DFAR vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dimensional US Real Estate ETF (DFAR) 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.
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.
| DFAR | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.20 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.28 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.33 | 2.50 | -0.17 |
| Martin ratioReturn relative to average drawdown | 7.87 | 7.82 | +0.05 |
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Drawdowns
DFAR vs. DBE - Drawdown Comparison
The maximum DFAR drawdown since its inception was -32.27%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for DFAR and DBE.
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Drawdown Indicators
| DFAR | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.27% | -86.69% | +54.42% |
Max Drawdown (1Y)Largest decline over 1 year | -8.43% | -24.72% | +16.29% |
Max Drawdown (3Y)Largest decline over 3 years | -17.64% | -24.72% | +7.08% |
Max Drawdown (5Y)Largest decline over 5 years | — | -38.74% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -60.84% | — |
Current DrawdownCurrent decline from peak | -2.26% | -34.98% | +32.72% |
Average DrawdownAverage peak-to-trough decline | -13.72% | -57.13% | +43.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.49% | 7.90% | -5.41% |
Volatility
DFAR vs. DBE - Volatility Comparison
The current volatility for Dimensional US Real Estate ETF (DFAR) is 4.32%, while Invesco DB Energy Fund (DBE) has a volatility of 15.07%. This indicates that DFAR 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
| DFAR | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.32% | 15.07% | -10.75% |
Volatility (6M)Calculated over the trailing 6-month period | 10.74% | 34.26% | -23.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.71% | 37.66% | -23.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.08% | 30.15% | -11.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.08% | 28.60% | -9.52% |
DFAR vs. DBE - Expense Ratio Comparison
DFAR has a 0.19% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
DFAR vs. DBE - Dividend Comparison
DFAR's dividend yield for the trailing twelve months is around 2.63%, more than DBE's 2.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.26% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% |
DFAR Dimensional US Real Estate ETF | 2.63% | 2.97% | 2.89% | 3.06% | 1.69% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DFAR and DBE have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBE has higher volatility (15.07%) compared to DFAR (4.32%). In terms of maximum drawdown, DFAR dropped -32.27% vs DBE's -86.69%.
On 3-year performance, DBE leads with 15.22% vs 11.02% for DFAR. On fees, DFAR is cheaper at 0.19% per year. On volatility, DFAR has been the lower-risk option at 4.32%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, DBE has performed better with a 15.22% return vs 11.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DFAR is cheaper with a 0.19% expense ratio, compared with 0.78% for DBE.
DFAR has the higher dividend yield at 2.63%, compared with 2.26% for DBE.
DFAR is categorized as REIT, while DBE is Oil & Gas. They also come from different issuers: Dimensional and Invesco. Their fees differ too: 0.19% for DFAR and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (1.64 vs 1.44), 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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