DIEM vs. DBE
DIEM (Franklin Emerging Market Core Dividend Tilt Index ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - DIEM is a Emerging Markets Diversified fund tracking the Morningstar Emerging Markets Dividend Enhanced Select Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 5 years, DIEM returned 11.49%/yr vs 19.66%/yr for DBE. At a 0.22 correlation, their price movements are largely independent. DIEM charges 0.19%/yr vs 0.78%/yr for DBE.
Performance
DIEM vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, DIEM achieves a 32.78% return, which is significantly lower than DBE's 83.68% return.
DIEM
- 1D
- -1.37%
- 1M
- 12.08%
- YTD
- 32.78%
- 6M
- 35.57%
- 1Y
- 60.54%
- 3Y*
- 28.35%
- 5Y*
- 11.49%
- 10Y*
- —
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%
DIEM vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DIEM Franklin Emerging Market Core Dividend Tilt Index ETF | 32.78% | 30.81% | 12.29% | 15.41% | -20.61% | 6.92% | 1.27% | 12.23% | -11.29% | 27.61% |
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 DIEM and DBE is -0.29, 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 | -0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Jun 6, 2016 | 0.22 |
The correlation between DIEM and DBE shifts across timeframes, from -0.29 (1 year) to 0.22 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
DIEM vs. DBE — Risk / Return Rank
DIEM
DBE
DIEM vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Emerging Market Core Dividend Tilt Index ETF (DIEM) 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.
| DIEM | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.92 | ||
| Sortino ratioReturn per unit of downside risk | +1.30 | ||
| Omega ratioGain probability vs. loss probability | 1.62 | 1.40 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 4.93 | 5.89 | -0.96 |
| Martin ratioReturn relative to average drawdown | 20.34 | 11.53 | +8.81 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DIEM | DBE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.35 | 2.43 | +0.92 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.68 | 0.67 | +0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.43 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.55 | 0.09 | +0.45 |
Drawdowns
DIEM vs. DBE - Drawdown Comparison
The maximum DIEM drawdown since its inception was -38.61%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for DIEM and DBE.
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Drawdown Indicators
| DIEM | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.61% | -86.69% | +48.08% |
Max Drawdown (1Y)Largest decline over 1 year | -12.33% | -14.41% | +2.08% |
Max Drawdown (3Y)Largest decline over 3 years | -16.82% | -23.89% | +7.07% |
Max Drawdown (5Y)Largest decline over 5 years | -33.34% | -38.74% | +5.40% |
Max Drawdown (10Y)Largest decline over 10 years | -38.61% | -60.84% | +22.23% |
Current DrawdownCurrent decline from peak | -1.37% | -30.27% | +28.90% |
Average DrawdownAverage peak-to-trough decline | -9.72% | -57.31% | +47.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.99% | 7.35% | -4.36% |
Volatility
DIEM vs. DBE - Volatility Comparison
The current volatility for Franklin Emerging Market Core Dividend Tilt Index ETF (DIEM) is 8.52%, while Invesco DB Energy Fund (DBE) has a volatility of 12.95%. This indicates that DIEM 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
| DIEM | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.52% | 12.95% | -4.43% |
Volatility (6M)Calculated over the trailing 6-month period | 15.91% | 30.86% | -14.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.17% | 34.97% | -16.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.93% | 29.39% | -12.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.59% | 28.33% | -10.74% |
DIEM vs. DBE - Expense Ratio Comparison
DIEM has a 0.19% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
DIEM vs. DBE - Dividend Comparison
DIEM's dividend yield for the trailing twelve months is around 2.30%, more than DBE's 2.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
DIEM Franklin Emerging Market Core Dividend Tilt Index ETF | 2.30% | 2.99% | 4.92% | 4.45% | 6.31% | 4.06% | 2.75% | 5.98% | 3.87% | 2.61% | 0.35% |
Frequently Asked Questions
DIEM and DBE have a correlation of -0.29, 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 DIEM (8.52%). In terms of maximum drawdown, DIEM dropped -38.61% vs DBE's -86.69%.
On 5-year performance, DBE leads with 19.66% vs 11.49% for DIEM. On fees, DIEM is cheaper at 0.19% per year. On volatility, DIEM has been the lower-risk option at 8.52%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DBE has performed better with a 19.66% return vs 11.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DIEM is cheaper with a 0.19% expense ratio, compared with 0.78% for DBE.
DIEM has the higher dividend yield at 2.30%, compared with 2.10% for DBE.
DIEM is categorized as Emerging Markets Diversified, while DBE is Oil & Gas. DIEM tracks Morningstar Emerging Markets Dividend Enhanced Select Index, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: Franklin Templeton and Invesco. Their fees differ too: 0.19% for DIEM and 0.78% for DBE.
DIEM currently has the higher Sharpe Ratio (3.35 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.
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