DKL vs. SBR

Last updated Jun 3, 2026

DKL (Delek Logistics Partners, LP) and SBR (Sabine Royalty Trust) are both stocks. Both are in the Energy sector — DKL in Oil & Gas Midstream, SBR in Oil & Gas E&P. Over the past 10 years, DKL returned 18.39%/yr vs 17.70%/yr for SBR. At a 0.23 correlation, their price movements are largely independent.

Performance

DKL vs. SBR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Delek Logistics Partners, LP (DKL) and Sabine Royalty Trust (SBR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DKL achieves a 21.50% return, which is significantly higher than SBR's 15.17% return. Both investments have delivered pretty close results over the past 10 years, with DKL having a 18.39% annualized return and SBR not far behind at 17.70%.

DKL

• 1D: 1.60%
• 1M: -1.65%
• YTD: 21.50%
• 6M: 19.65%
• 1Y: 35.71%
• 3Y*: 9.60%
• 5Y*: 14.31%
• 10Y*: 18.39%

SBR

• 1D: 1.69%
• 1M: 0.76%
• YTD: 15.17%
• 6M: 1.30%
• 1Y: 23.46%
• 3Y*: 11.26%
• 5Y*: 26.45%
• 10Y*: 17.70%

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

DKL vs. SBR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DKL Delek Logistics Partners, LP	21.50%	17.18%	9.40%	4.36%	14.39%	45.88%	14.34%	21.52%	2.07%	20.80%
SBR Sabine Royalty Trust	15.17%	14.04%	4.06%	-13.10%	132.08%	60.71%	-24.24%	15.77%	-9.61%	34.83%

Correlation

The correlation between DKL and SBR is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.28
Correlation (10Y) Calculated over the trailing 10-year period	0.25
Correlation (All Time) Calculated using the full available price history since Nov 5, 2012	0.23

Fundamentals

EPS DKL : $3.17 SBR : $5.06
PE Ratio DKL : 16.38 SBR : 15.25
PS Ratio DKL : 2.62 SBR : 14.63
Total Revenue (TTM) DKL : $1.06B SBR : $57.67M
Gross Profit (TTM) DKL : $158.42M SBR : $58.05M
EBITDA (TTM) DKL : $449.11M SBR : $55.09M

Return for Risk

DKL vs. SBR — Risk / Return Rank

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

DKL

DKL Risk / Return Rank: 80
DKL Sharpe Ratio Rank: 81
DKL Sortino Ratio Rank: 76
DKL Omega Ratio Rank: 74
DKL Calmar Ratio Rank: 83
DKL Martin Ratio Rank: 85

SBR

SBR Risk / Return Rank: 65
SBR Sharpe Ratio Rank: 70
SBR Sortino Ratio Rank: 61
SBR Omega Ratio Rank: 62
SBR Calmar Ratio Rank: 66
SBR Martin Ratio Rank: 65

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.

DKL vs. SBR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Delek Logistics Partners, LP (DKL) and Sabine Royalty Trust (SBR). 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.

	DKL	SBR	Difference
Sharpe ratio Return per unit of total volatility	1.49	0.99	+0.49
Sortino ratio Return per unit of downside risk	2.09	1.37	+0.72
Omega ratio Gain probability vs. loss probability	1.26	1.18	+0.08
Calmar ratio Return relative to maximum drawdown	3.14	1.31	+1.84
Martin ratio Return relative to average drawdown	9.14	2.77	+6.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DKL vs. SBR - Sharpe Ratio Comparison

The current DKL Sharpe Ratio is 1.49, which is higher than the SBR Sharpe Ratio of 0.99. The chart below compares the historical Sharpe Ratios of DKL and SBR, 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

	DKL	SBR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.49	0.99	+0.49
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.46	0.84	-0.37
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.42	0.57	-0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.54	-0.16

Drawdowns

DKL vs. SBR - Drawdown Comparison

The maximum DKL drawdown since its inception was -82.68%, which is greater than SBR's maximum drawdown of -56.40%. Use the drawdown chart below to compare losses from any high point for DKL and SBR.

Drawdown Indicators

	DKL	SBR	Difference
Max Drawdown Largest peak-to-trough decline	-82.68%	-56.40%	-26.28%
Max Drawdown (1Y) Largest decline over 1 year	-11.58%	-18.54%	+6.96%
Max Drawdown (3Y) Largest decline over 3 years	-35.26%	-19.13%	-16.13%
Max Drawdown (5Y) Largest decline over 5 years	-36.61%	-34.56%	-2.05%
Max Drawdown (10Y) Largest decline over 10 years	-82.68%	-50.71%	-31.97%
Current Drawdown Current decline from peak	-3.40%	-2.59%	-0.81%
Average Drawdown Average peak-to-trough decline	-15.26%	-13.64%	-1.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.98%	8.74%	-4.76%

Volatility

DKL vs. SBR - Volatility Comparison

Delek Logistics Partners, LP (DKL) has a higher volatility of 8.13% compared to Sabine Royalty Trust (SBR) at 6.06%. This indicates that DKL's price experiences larger fluctuations and is considered to be riskier than SBR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DKL	SBR	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.13%	6.06%	+2.07%
Volatility (6M) Calculated over the trailing 6-month period	20.15%	18.22%	+1.93%
Volatility (1Y) Calculated over the trailing 1-year period	24.15%	23.78%	+0.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.01%	31.79%	-0.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.91%	31.31%	+12.60%

Dividends

DKL vs. SBR - Dividend Comparison

DKL's dividend yield for the trailing twelve months is around 8.64%, more than SBR's 6.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DKL Delek Logistics Partners, LP	8.64%	9.97%	10.79%	9.56%	8.69%	8.71%	11.19%	10.51%	10.38%	8.80%	8.70%	6.05%
SBR Sabine Royalty Trust	6.14%	7.53%	8.41%	9.41%	10.13%	7.72%	8.59%	7.49%	8.98%	5.31%	5.50%	11.82%

Financials

Frequently Asked Questions

Can I hold both DKL and SBR in my portfolio?

DKL and SBR have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DKL or SBR?

DKL has higher volatility (8.13%) compared to SBR (6.06%). In terms of maximum drawdown, DKL dropped -82.68% vs SBR's -56.40%.

Which has better risk-adjusted returns?

DKL currently has the higher Sharpe Ratio (1.49 vs 0.99), 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.