DIVG vs. DBE

Last updated Jun 4, 2026

DIVG (Invesco S&P 500 High Dividend Growers ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - DIVG is a S&P 500 fund tracking the S&P 500 High Dividend Growth Index - Benchmark TR Gross, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past year, DIVG returned 20.94% vs 84.41% for DBE. At a 0.01 correlation, their price movements are largely independent. DIVG charges 0.39%/yr vs 0.78%/yr for DBE.

Performance

DIVG vs. DBE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P 500 High Dividend Growers ETF (DIVG) 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, DIVG achieves a 10.58% return, which is significantly lower than DBE's 83.68% return.

DIVG

• 1D: -0.63%
• 1M: 0.59%
• YTD: 10.58%
• 6M: 10.78%
• 1Y: 20.94%
• 3Y*: —
• 5Y*: —
• 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%

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

DIVG vs. DBE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DIVG Invesco S&P 500 High Dividend Growers ETF	10.58%	11.31%	16.60%	5.71%
DBE Invesco DB Energy Fund	83.68%	-2.17%	2.96%	0.69%

Correlation

The correlation between DIVG and DBE is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.07
Correlation (All Time) Calculated using the full available price history since Dec 7, 2023	0.01

Return for Risk

DIVG vs. DBE — Risk / Return Rank

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

DIVG

DIVG Risk / Return Rank: 65
DIVG Sharpe Ratio Rank: 58
DIVG Sortino Ratio Rank: 61
DIVG Omega Ratio Rank: 54
DIVG Calmar Ratio Rank: 79
DIVG Martin Ratio Rank: 70

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.

DIVG vs. DBE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P 500 High Dividend Growers ETF (DIVG) 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.

	DIVG	DBE	Difference
Sharpe ratio: Return per unit of total volatility	1.97	2.43	-0.45
Sortino ratio: Return per unit of downside risk	2.90	2.96	-0.05
Omega ratio: Gain probability vs. loss probability	1.34	1.40	-0.06
Calmar ratio: Return relative to maximum drawdown	4.10	5.89	-1.79
Martin ratio: Return relative to average drawdown	13.12	11.53	+1.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DIVG vs. DBE - Sharpe Ratio Comparison

The current DIVG Sharpe Ratio is 1.97, which is comparable to the DBE Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of DIVG 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

	DIVG	DBE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.97	2.43	-0.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.67	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.43	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.39	0.09	+1.30

Drawdowns

DIVG vs. DBE - Drawdown Comparison

The maximum DIVG drawdown since its inception was -14.95%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for DIVG and DBE.

Drawdown Indicators

	DIVG	DBE	Difference
Max Drawdown Largest peak-to-trough decline	-14.95%	-86.69%	+71.74%
Max Drawdown (1Y) Largest decline over 1 year	-5.13%	-14.41%	+9.28%
Max Drawdown (3Y) Largest decline over 3 years	—	-23.89%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-38.74%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-60.84%	—
Current Drawdown Current decline from peak	-1.20%	-30.27%	+29.07%
Average Drawdown Average peak-to-trough decline	-2.29%	-57.31%	+55.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.60%	7.35%	-5.75%

Volatility

DIVG vs. DBE - Volatility Comparison

The current volatility for Invesco S&P 500 High Dividend Growers ETF (DIVG) is 2.53%, while Invesco DB Energy Fund (DBE) has a volatility of 12.95%. This indicates that DIVG 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

	DIVG	DBE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.53%	12.95%	-10.42%
Volatility (6M) Calculated over the trailing 6-month period	7.33%	30.86%	-23.53%
Volatility (1Y) Calculated over the trailing 1-year period	10.66%	34.97%	-24.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.19%	29.39%	-16.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.19%	28.33%	-15.14%

DIVG vs. DBE - Expense Ratio Comparison

DIVG has a 0.39% expense ratio, which is lower than DBE's 0.78% expense ratio.

Dividends

DIVG vs. DBE - Dividend Comparison

DIVG's dividend yield for the trailing twelve months is around 3.10%, more than DBE's 2.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DBE Invesco DB Energy Fund	2.10%	3.86%	6.32%	3.87%	0.75%	0.00%	0.00%	1.79%	1.67%
DIVG Invesco S&P 500 High Dividend Growers ETF	3.10%	3.15%	4.08%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DIVG and DBE in my portfolio?

DIVG and DBE have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DIVG or DBE?

DBE has higher volatility (12.95%) compared to DIVG (2.53%). In terms of maximum drawdown, DIVG dropped -14.95% vs DBE's -86.69%.

Which ETF is better, DIVG or DBE?

On 1-year performance, DBE leads with 84.41% vs 20.94% for DIVG. On fees, DIVG is cheaper at 0.39% per year. On volatility, DIVG has been the lower-risk option at 2.53%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DIVG or DBE?

Over the 1-year period, DBE has performed better with a 84.41% return vs 20.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DIVG or DBE?

DIVG is cheaper with a 0.39% expense ratio, compared with 0.78% for DBE.

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

DIVG has the higher dividend yield at 3.10%, compared with 2.10% for DBE.

What is the main difference between DIVG and DBE?

DIVG is categorized as S&P 500, while DBE is Oil & Gas. DIVG tracks S&P 500 High Dividend Growth Index - Benchmark TR Gross, while DBE tracks DBIQ Optimum Yield Energy Index. Their fees differ too: 0.39% for DIVG and 0.78% for DBE.

Which has better risk-adjusted returns?

DBE currently has the higher Sharpe Ratio (2.43 vs 1.97), 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.