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EDIV vs. DBE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EDIV vs. DBE

Last updated Jun 4, 2026

EDIV (SPDR S&P Emerging Markets Dividend ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - EDIV is a Emerging Markets Equities fund tracking the S&P Emerging Markets Dividend Opportunities Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 10 years, EDIV returned 9.16%/yr vs 12.03%/yr for DBE. At a 0.28 correlation, their price movements are largely independent. EDIV charges 0.49%/yr vs 0.78%/yr for DBE.

Performance

EDIV vs. DBE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Emerging Markets Dividend ETF (EDIV) and Invesco DB Energy Fund (DBE). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EDIV achieves a 6.42% return, which is significantly lower than DBE's 83.68% return. Over the past 10 years, EDIV has underperformed DBE with an annualized return of 9.16%, while DBE has yielded a comparatively higher 12.03% annualized return.

EDIV

1D
-1.27%
1M
2.48%
YTD
6.42%
6M
7.80%
1Y
14.08%
3Y*
19.05%
5Y*
10.66%
10Y*
9.16%

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)

EDIV vs. DBE - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EDIV
SPDR S&P Emerging Markets Dividend ETF		6.42%16.45%12.75%41.91%-15.31%11.21%-9.95%11.80%-6.16%28.20%
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 EDIV and DBE is -0.34, 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

-0.34

Correlation (3Y)
Calculated over the trailing 3-year period

-0.03

Correlation (5Y)
Calculated over the trailing 5-year period

0.09

Correlation (10Y)
Calculated over the trailing 10-year period

0.20

Correlation (All Time)
Calculated using the full available price history since Feb 25, 2011

0.28

The correlation between EDIV and DBE shifts across timeframes, from -0.34 (1 year) to 0.28 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

SPDR S&P Emerging Markets Dividend ETF

Invesco DB Energy Fund

Often compared with EDIV:
EDIV vs. VWOEDIV vs. EEMSEDIV vs. EEMEDIV vs. EYLDEDIV vs. VOOEDIV vs. XCEMEDIV vs. FEMS
Often compared with DBE:
DBE vs. DBBDBE vs. XLEDBE vs. VDEDBE vs. COMTDBE vs. XLKDBE vs. GLDDBE vs. TIP

Return for Risk

EDIV vs. DBE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EDIV
EDIV Risk / Return Rank: 3030
Overall Rank
EDIV Sharpe Ratio Rank: 3131
Sharpe Ratio Rank
EDIV Sortino Ratio Rank: 3131
Sortino Ratio Rank
EDIV Omega Ratio Rank: 3131
Omega Ratio Rank
EDIV Calmar Ratio Rank: 2828
Calmar Ratio Rank
EDIV Martin Ratio Rank: 2929
Martin Ratio Rank
DBE
DBE Risk / Return Rank: 7171
Overall Rank
DBE Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
DBE Sortino Ratio Rank: 6363
Sortino Ratio Rank
DBE Omega Ratio Rank: 6565
Omega Ratio Rank
DBE Calmar Ratio Rank: 9191
Calmar Ratio Rank
DBE Martin Ratio Rank: 6363
Martin Ratio Rank
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.

EDIV vs. DBE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Emerging Markets Dividend ETF (EDIV) 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.

EDIVDBEDifference
Sharpe ratioReturn per unit of total volatility
1.16
2.43

-1.27

Sortino ratioReturn per unit of downside risk
1.70
2.96

-1.26

Omega ratioGain probability vs. loss probability

1.22

1.40

-0.18

Calmar ratioReturn relative to maximum drawdown

1.37

5.89

-4.52

Martin ratioReturn relative to average drawdown

4.23

11.53

-7.30

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EDIV vs. DBE - Sharpe Ratio Comparison

The current EDIV Sharpe Ratio is 1.16, which is lower than the DBE Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of EDIV 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.

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Sharpe Ratios by Period

EDIVDBEDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.16

2.43

-1.27

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.78

0.67

+0.10

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.53

0.43

+0.10

Sharpe Ratio (All Time)

Calculated using the full available price history

0.17

0.09

+0.07

Drawdowns

EDIV vs. DBE - Drawdown Comparison

The maximum EDIV drawdown since its inception was -53.36%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for EDIV and DBE.

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Drawdown Indicators

EDIVDBEDifference

Max Drawdown

Largest peak-to-trough decline

-53.36%

-86.69%

+33.33%

Max Drawdown (1Y)

Largest decline over 1 year

-10.36%

-14.41%

+4.05%

Max Drawdown (3Y)

Largest decline over 3 years

-13.84%

-23.89%

+10.05%

Max Drawdown (5Y)

Largest decline over 5 years

-28.32%

-38.74%

+10.42%

Max Drawdown (10Y)

Largest decline over 10 years

-40.76%

-60.84%

+20.08%

Current Drawdown

Current decline from peak

-4.07%

-30.27%

+26.20%

Average Drawdown

Average peak-to-trough decline

-19.36%

-57.31%

+37.95%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.34%

7.35%

-4.01%

Volatility

EDIV vs. DBE - Volatility Comparison

The current volatility for SPDR S&P Emerging Markets Dividend ETF (EDIV) is 4.11%, while Invesco DB Energy Fund (DBE) has a volatility of 12.95%. This indicates that EDIV 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

EDIVDBEDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.11%

12.95%

-8.84%

Volatility (6M)

Calculated over the trailing 6-month period

10.03%

30.86%

-20.83%

Volatility (1Y)

Calculated over the trailing 1-year period

12.19%

34.97%

-22.78%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.83%

29.39%

-15.56%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.49%

28.33%

-10.84%

EDIV vs. DBE - Expense Ratio Comparison

EDIV has a 0.49% expense ratio, which is lower than DBE's 0.78% expense ratio.

Dividends

EDIV vs. DBE - Dividend Comparison

EDIV's dividend yield for the trailing twelve months is around 4.50%, more than DBE's 2.10% yield.

PositionTTM20252024202320222021202020192018201720162015
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%0.00%
EDIV
SPDR S&P Emerging Markets Dividend ETF		4.50%4.69%3.94%4.26%4.94%3.84%3.52%3.83%3.41%2.99%4.94%5.33%

Frequently Asked Questions

EDIV and DBE have a correlation of -0.34, 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 EDIV (4.11%). In terms of maximum drawdown, EDIV dropped -53.36% vs DBE's -86.69%.

On 10-year performance, DBE leads with 12.03% vs 9.16% for EDIV. On fees, EDIV is cheaper at 0.49% per year. On volatility, EDIV has been the lower-risk option at 4.11%. 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 12.03% return vs 9.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EDIV is cheaper with a 0.49% expense ratio, compared with 0.78% for DBE.

EDIV has the higher dividend yield at 4.50%, compared with 2.10% for DBE.

EDIV is categorized as Emerging Markets Equities, while DBE is Oil & Gas. EDIV tracks S&P Emerging Markets Dividend Opportunities Index, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.49% for EDIV and 0.78% for DBE.

DBE currently has the higher Sharpe Ratio (2.43 vs 1.16), 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.

Portfolio Optimizer

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