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EEMV vs. DBE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EEMV vs. DBE

Last updated Jun 3, 2026

EEMV (iShares MSCI Emerging Markets Min Vol Factor ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - EEMV is a Asia Pacific Equities fund tracking the MSCI Emerging Markets Minimum Volatility Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 10 years, EEMV returned 6.79%/yr vs 11.78%/yr for DBE. At a 0.25 correlation, their price movements are largely independent. EEMV charges 0.25%/yr vs 0.78%/yr for DBE.

Performance

EEMV vs. DBE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Emerging Markets Min Vol Factor ETF (EEMV) 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, EEMV achieves a 18.97% return, which is significantly lower than DBE's 79.50% return. Over the past 10 years, EEMV has underperformed DBE with an annualized return of 6.79%, while DBE has yielded a comparatively higher 11.78% annualized return.

EEMV

1D
-0.04%
1M
7.57%
YTD
18.97%
6M
20.18%
1Y
27.98%
3Y*
14.53%
5Y*
5.94%
10Y*
6.79%

DBE

1D
0.80%
1M
-3.65%
YTD
79.50%
6M
72.59%
1Y
82.31%
3Y*
22.48%
5Y*
19.20%
10Y*
11.78%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EEMV vs. DBE - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EEMV
iShares MSCI Emerging Markets Min Vol Factor ETF		18.97%13.45%7.98%7.75%-13.94%5.05%6.90%7.83%-5.81%27.28%
DBE
Invesco DB Energy Fund		79.50%-2.17%2.96%-12.14%33.77%57.56%-25.91%19.72%-12.95%5.21%

Correlation

The correlation between EEMV and DBE is -0.32, 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

-0.32

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

-0.05

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

0.08

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

0.19

Correlation (All Time)
Calculated using the full available price history since Oct 21, 2011

0.25

The correlation between EEMV and DBE shifts across timeframes, from -0.32 (1 year) to 0.25 (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.

iShares MSCI Emerging Markets Min Vol Factor ETF

Invesco DB Energy Fund

Often compared with EEMV:
EEMV vs. EEMEEMV vs. IEMGEEMV vs. SPYEEMV vs. EFAVEEMV vs. MCHIEEMV vs. USMVEEMV vs. SPEM
Often compared with DBE:
DBE vs. DBBDBE vs. XLEDBE vs. VDEDBE vs. COMTDBE vs. XLKDBE vs. GLDDBE vs. TIP

Return for Risk

EEMV vs. DBE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EEMV
EEMV Risk / Return Rank: 6565
Overall Rank
EEMV Sharpe Ratio Rank: 6464
Sharpe Ratio Rank
EEMV Sortino Ratio Rank: 6565
Sortino Ratio Rank
EEMV Omega Ratio Rank: 7171
Omega Ratio Rank
EEMV Calmar Ratio Rank: 6161
Calmar Ratio Rank
EEMV Martin Ratio Rank: 6363
Martin Ratio Rank
DBE
DBE Risk / Return Rank: 7171
Overall Rank
DBE Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
DBE Sortino Ratio Rank: 6161
Sortino Ratio Rank
DBE Omega Ratio Rank: 6464
Omega Ratio Rank
DBE Calmar Ratio Rank: 9292
Calmar Ratio Rank
DBE Martin Ratio Rank: 6565
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.

EEMV vs. DBE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Emerging Markets Min Vol Factor ETF (EEMV) 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.

EEMVDBEDifference

Sharpe ratio

Return per unit of total volatility

2.16

2.37

-0.21

Sortino ratio

Return per unit of downside risk

3.04

2.91

+0.14

Omega ratio

Gain probability vs. loss probability

1.43

1.39

+0.04

Calmar ratio

Return relative to maximum drawdown

3.09

6.10

-3.01

Martin ratio

Return relative to average drawdown

11.54

11.98

-0.44

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

EEMV vs. DBE - Sharpe Ratio Comparison

The current EEMV Sharpe Ratio is 2.16, which is comparable to the DBE Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of EEMV 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

EEMVDBEDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.16

2.37

-0.21

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.50

0.66

-0.15

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.49

0.42

+0.07

Sharpe Ratio (All Time)

Calculated using the full available price history

0.40

0.09

+0.31

Drawdowns

EEMV vs. DBE - Drawdown Comparison

The maximum EEMV drawdown since its inception was -31.56%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for EEMV and DBE.

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Drawdown Indicators

EEMVDBEDifference

Max Drawdown

Largest peak-to-trough decline

-31.56%

-86.69%

+55.13%

Max Drawdown (1Y)

Largest decline over 1 year

-9.22%

-14.41%

+5.19%

Max Drawdown (3Y)

Largest decline over 3 years

-12.47%

-23.89%

+11.42%

Max Drawdown (5Y)

Largest decline over 5 years

-21.90%

-38.74%

+16.84%

Max Drawdown (10Y)

Largest decline over 10 years

-31.56%

-60.84%

+29.28%

Current Drawdown

Current decline from peak

-0.04%

-31.85%

+31.81%

Average Drawdown

Average peak-to-trough decline

-7.98%

-57.31%

+49.33%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.47%

7.34%

-4.87%

Volatility

EEMV vs. DBE - Volatility Comparison

The current volatility for iShares MSCI Emerging Markets Min Vol Factor ETF (EEMV) is 5.67%, while Invesco DB Energy Fund (DBE) has a volatility of 13.47%. This indicates that EEMV 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

EEMVDBEDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.67%

13.47%

-7.80%

Volatility (6M)

Calculated over the trailing 6-month period

11.65%

30.80%

-19.15%

Volatility (1Y)

Calculated over the trailing 1-year period

13.02%

35.02%

-22.00%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.85%

29.37%

-17.52%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

13.86%

28.33%

-14.47%

EEMV vs. DBE - Expense Ratio Comparison

EEMV has a 0.25% expense ratio, which is lower than DBE's 0.78% expense ratio.

Dividends

EEMV vs. DBE - Dividend Comparison

EEMV's dividend yield for the trailing twelve months is around 2.23%, more than DBE's 2.15% yield.

PositionTTM20252024202320222021202020192018201720162015
DBE
Invesco DB Energy Fund		2.15%3.86%6.32%3.87%0.75%0.00%0.00%1.79%1.67%0.00%0.00%0.00%
EEMV
iShares MSCI Emerging Markets Min Vol Factor ETF		2.23%2.65%3.50%2.75%1.93%2.14%2.45%2.63%2.46%2.34%2.79%2.55%

Frequently Asked Questions

EEMV and DBE have a correlation of -0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DBE has higher volatility (13.47%) compared to EEMV (5.67%). In terms of maximum drawdown, EEMV dropped -31.56% vs DBE's -86.69%.

On 10-year performance, DBE leads with 11.78% vs 6.79% for EEMV. On fees, EEMV is cheaper at 0.25% per year. On volatility, EEMV has been the lower-risk option at 5.67%. 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 11.78% return vs 6.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EEMV is cheaper with a 0.25% expense ratio, compared with 0.78% for DBE.

EEMV has the higher dividend yield at 2.23%, compared with 2.15% for DBE.

EEMV is categorized as Asia Pacific Equities, while DBE is Oil & Gas. EEMV tracks MSCI Emerging Markets Minimum Volatility Index, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.25% for EEMV and 0.78% for DBE.

DBE currently has the higher Sharpe Ratio (2.37 vs 2.16), 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.

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