ECNS vs. DBE
ECNS (iShares MSCI China Small-Cap ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - ECNS is a China Equities fund tracking the MSCI China Small Cap Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 10 years, ECNS returned 0.89%/yr vs 12.24%/yr for DBE. Their 0.21 correlation means their historical movements had little consistent relationship. ECNS charges 0.59%/yr vs 0.78%/yr for DBE.
Performance
ECNS vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, ECNS achieves a -10.84% return, which is significantly lower than DBE's 71.26% return. Over the past 10 years, ECNS has underperformed DBE with an annualized return of 0.89%, while DBE has yielded a comparatively higher 12.24% annualized return.
ECNS
- 1D
- -0.28%
- 1M
- 1.48%
- 6M
- -15.13%
- YTD
- -10.84%
- 1Y
- -10.63%
- 3Y*
- 3.54%
- 5Y*
- -7.01%
- 10Y*
- 0.89%
- ALL TIME*
- 0.21%
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 | |
| $217.02K | $210.44K | $354.53K |
ECNS vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ECNS iShares MSCI China Small-Cap ETF | -10.84% | 36.49% | 5.64% | -23.05% | -24.58% | 2.11% | 25.42% | 7.84% | -18.27% | 27.55% |
DBE Invesco DB Energy Fund | 71.26% | -2.17% | 2.96% | -12.14% | 33.77% | 57.56% | -25.91% | 19.72% | -12.95% | 5.21% |
Correlation
The correlation between ECNS and DBE is -0.16, 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. | -0.16 |
Correlation (3Y) Balances recent behavior with more history. | 0.03 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.08 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.15 |
Correlation (All Time) Calculated using the full available price history since Sep 29, 2010 | 0.21 |
The correlation between ECNS and DBE shifts across timeframes, from -0.16 (1 year) to 0.21 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ECNS vs. DBE — Risk / Return Rank
ECNS
DBE
ECNS vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI China Small-Cap ETF (ECNS) 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.
| ECNS | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.16 | ||
| Sortino ratioReturn per unit of downside risk | -2.80 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.28 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.41 | 2.50 | -2.91 |
| Martin ratioReturn relative to average drawdown | -0.82 | 7.82 | -8.63 |
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Drawdowns
ECNS vs. DBE - Drawdown Comparison
The maximum ECNS drawdown since its inception was -63.43%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for ECNS and DBE.
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Drawdown Indicators
| ECNS | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.43% | -86.69% | +23.26% |
Max Drawdown (1Y)Largest decline over 1 year | -25.73% | -24.72% | -1.01% |
Max Drawdown (3Y)Largest decline over 3 years | -29.29% | -24.72% | -4.57% |
Max Drawdown (5Y)Largest decline over 5 years | -57.31% | -38.74% | -18.57% |
Max Drawdown (10Y)Largest decline over 10 years | -63.43% | -60.84% | -2.59% |
Current DrawdownCurrent decline from peak | -42.60% | -34.98% | -7.62% |
Average DrawdownAverage peak-to-trough decline | -29.51% | -57.13% | +27.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.01% | 7.90% | +5.11% |
Volatility
ECNS vs. DBE - Volatility Comparison
The current volatility for iShares MSCI China Small-Cap ETF (ECNS) is 6.37%, while Invesco DB Energy Fund (DBE) has a volatility of 15.07%. This indicates that ECNS 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
| ECNS | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.37% | 15.07% | -8.70% |
Volatility (6M)Calculated over the trailing 6-month period | 14.27% | 34.26% | -19.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.87% | 37.66% | -16.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.09% | 30.15% | -1.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.82% | 28.60% | -2.78% |
ECNS vs. DBE - Expense Ratio Comparison
ECNS has a 0.59% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
ECNS vs. DBE - Dividend Comparison
ECNS's dividend yield for the trailing twelve months is around 6.60%, more than DBE's 2.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.26% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% | 0.00% | 0.00% | 0.00% |
ECNS iShares MSCI China Small-Cap ETF | 6.60% | 6.20% | 5.98% | 4.89% | 3.54% | 4.87% | 3.59% | 3.23% | 6.16% | 3.18% | 4.29% | 3.58% |
Frequently Asked Questions
ECNS and DBE have a correlation of -0.16, 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 ECNS (6.37%). In terms of maximum drawdown, ECNS dropped -63.43% vs DBE's -86.69%.
On 10-year performance, DBE leads with 12.24% vs 0.89% for ECNS. On fees, ECNS is cheaper at 0.59% per year. On volatility, ECNS has been the lower-risk option at 6.37%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DBE has performed better with a 12.24% return vs 0.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ECNS is cheaper with a 0.59% expense ratio, compared with 0.78% for DBE.
ECNS has the higher dividend yield at 6.60%, compared with 2.26% for DBE.
ECNS is categorized as China Equities, while DBE is Oil & Gas. ECNS tracks MSCI China Small Cap Index, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.59% for ECNS and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (1.64 vs -0.51), 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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