EDV vs. DBE
EDV (Vanguard Extended Duration Treasury ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - EDV is a Government Bonds fund tracking the Bloomberg U.S. Treasury STRIPS 20-30 Year Equal Par Bond Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 10 years, EDV returned -4.40%/yr vs 12.24%/yr for DBE. Their -0.23 correlation means they have often moved in opposite directions in the past. EDV charges 0.05%/yr vs 0.78%/yr for DBE.
Performance
EDV vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, EDV achieves a -5.76% return, which is significantly lower than DBE's 71.26% return. Over the past 10 years, EDV has underperformed DBE with an annualized return of -4.40%, while DBE has yielded a comparatively higher 12.24% annualized return.
EDV
- 1D
- 0.47%
- 1M
- -5.91%
- 6M
- -5.09%
- YTD
- -5.76%
- 1Y
- -5.56%
- 3Y*
- -4.58%
- 5Y*
- -12.82%
- 10Y*
- -4.40%
- ALL TIME*
- 2.37%
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 | |
| $91.73M | $72.86M | $67.75M |
EDV vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EDV Vanguard Extended Duration Treasury ETF | -5.76% | 0.65% | -12.78% | 1.65% | -39.15% | -6.19% | 23.59% | 18.67% | -3.40% | 13.94% |
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 EDV and DBE is -0.40, 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. | -0.40 |
Correlation (3Y) Balances recent behavior with more history. | -0.24 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.19 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.19 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2007 | -0.23 |
The correlation between EDV and DBE shifts across timeframes, from -0.40 (1 year) to -0.19 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
EDV vs. DBE — Risk / Return Rank
EDV
DBE
EDV vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Extended Duration Treasury ETF (EDV) 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.
| EDV | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.04 | ||
| Sortino ratioReturn per unit of downside risk | -2.70 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.28 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | -0.42 | 2.50 | -2.92 |
| Martin ratioReturn relative to average drawdown | -0.87 | 7.82 | -8.69 |
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Drawdowns
EDV vs. DBE - Drawdown Comparison
The maximum EDV drawdown since its inception was -59.96%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for EDV and DBE.
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Drawdown Indicators
| EDV | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.96% | -86.69% | +26.73% |
Max Drawdown (1Y)Largest decline over 1 year | -13.24% | -24.72% | +11.48% |
Max Drawdown (3Y)Largest decline over 3 years | -22.74% | -24.72% | +1.98% |
Max Drawdown (5Y)Largest decline over 5 years | -55.03% | -38.74% | -16.29% |
Max Drawdown (10Y)Largest decline over 10 years | -59.96% | -60.84% | +0.88% |
Current DrawdownCurrent decline from peak | -56.76% | -34.98% | -21.78% |
Average DrawdownAverage peak-to-trough decline | -23.70% | -57.13% | +33.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.39% | 7.90% | -1.51% |
Volatility
EDV vs. DBE - Volatility Comparison
The current volatility for Vanguard Extended Duration Treasury ETF (EDV) is 3.91%, while Invesco DB Energy Fund (DBE) has a volatility of 15.07%. This indicates that EDV 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
| EDV | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.91% | 15.07% | -11.16% |
Volatility (6M)Calculated over the trailing 6-month period | 10.21% | 34.26% | -24.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.01% | 37.66% | -23.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.52% | 30.15% | -8.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.74% | 28.60% | -8.86% |
EDV vs. DBE - Expense Ratio Comparison
EDV has a 0.05% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
EDV vs. DBE - Dividend Comparison
EDV's dividend yield for the trailing twelve months is around 5.42%, 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% |
EDV Vanguard Extended Duration Treasury ETF | 5.42% | 4.94% | 4.65% | 3.81% | 3.28% | 1.95% | 5.54% | 3.51% | 2.90% | 2.92% | 5.32% | 4.24% |
Frequently Asked Questions
EDV and DBE have a correlation of -0.40, 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 EDV (3.91%). In terms of maximum drawdown, EDV dropped -59.96% vs DBE's -86.69%.
On 10-year performance, DBE leads with 12.24% vs -4.40% for EDV. On fees, EDV is cheaper at 0.05% per year. On volatility, EDV has been the lower-risk option at 3.91%. 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 -4.40%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EDV is cheaper with a 0.05% expense ratio, compared with 0.78% for DBE.
EDV has the higher dividend yield at 5.42%, compared with 2.26% for DBE.
EDV is categorized as Government Bonds, while DBE is Oil & Gas. EDV tracks Bloomberg U.S. Treasury STRIPS 20-30 Year Equal Par Bond Index, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: Vanguard and Invesco. Their fees differ too: 0.05% for EDV and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (1.64 vs -0.40), 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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