EFAS vs. DBE

Last updated Jun 3, 2026

EFAS (Global X MSCI SuperDividend® EAFE ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - EFAS is a Foreign Large Cap Equities fund tracking the MSCI EAFE Top 50 Dividend Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 5 years, EFAS returned 12.25%/yr vs 19.20%/yr for DBE. At a 0.23 correlation, their price movements are largely independent. EFAS charges 0.56%/yr vs 0.78%/yr for DBE.

Performance

EFAS vs. DBE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X MSCI SuperDividend® EAFE ETF (EFAS) and Invesco DB Energy Fund (DBE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EFAS achieves a 13.61% return, which is significantly lower than DBE's 79.50% return.

EFAS

• 1D: -0.50%
• 1M: -1.27%
• YTD: 13.61%
• 6M: 18.42%
• 1Y: 28.44%
• 3Y*: 24.71%
• 5Y*: 12.25%
• 10Y*: —

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)

EFAS vs. DBE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EFAS Global X MSCI SuperDividend® EAFE ETF	13.61%	46.83%	3.07%	14.65%	-8.00%	12.75%	-5.42%	14.60%	-11.60%	22.76%
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 EFAS and DBE is -0.13, 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	-0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.03
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (All Time) Calculated using the full available price history since Nov 17, 2016	0.23

The correlation between EFAS and DBE shifts across timeframes, from -0.13 (1 year) to 0.23 (all time), reflecting how their relationship changes across market environments.

Return for Risk

EFAS vs. DBE — Risk / Return Rank

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

EFAS

EFAS Risk / Return Rank: 82
EFAS Sharpe Ratio Rank: 82
EFAS Sortino Ratio Rank: 84
EFAS Omega Ratio Rank: 78
EFAS Calmar Ratio Rank: 90
EFAS Martin Ratio Rank: 78

DBE

DBE Risk / Return Rank: 71
DBE Sharpe Ratio Rank: 71
DBE Sortino Ratio Rank: 61
DBE Omega Ratio Rank: 64
DBE Calmar Ratio Rank: 92
DBE 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.

EFAS vs. DBE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X MSCI SuperDividend® EAFE ETF (EFAS) 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.

	EFAS	DBE	Difference
Sharpe ratio Return per unit of total volatility	2.70	2.37	+0.33
Sortino ratio Return per unit of downside risk	3.79	2.91	+0.89
Omega ratio Gain probability vs. loss probability	1.47	1.39	+0.08
Calmar ratio Return relative to maximum drawdown	5.72	6.10	-0.38
Martin ratio Return relative to average drawdown	15.34	11.98	+3.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EFAS vs. DBE - Sharpe Ratio Comparison

The current EFAS Sharpe Ratio is 2.70, which is comparable to the DBE Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of EFAS 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.

Sharpe Ratios by Period

	EFAS	DBE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.70	2.37	+0.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	0.66	+0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.42	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.09	+0.47

Drawdowns

EFAS vs. DBE - Drawdown Comparison

The maximum EFAS drawdown since its inception was -44.38%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for EFAS and DBE.

Drawdown Indicators

	EFAS	DBE	Difference
Max Drawdown Largest peak-to-trough decline	-44.38%	-86.69%	+42.31%
Max Drawdown (1Y) Largest decline over 1 year	-5.30%	-14.41%	+9.11%
Max Drawdown (3Y) Largest decline over 3 years	-11.84%	-23.89%	+12.05%
Max Drawdown (5Y) Largest decline over 5 years	-28.81%	-38.74%	+9.93%
Max Drawdown (10Y) Largest decline over 10 years	—	-60.84%	—
Current Drawdown Current decline from peak	-2.45%	-31.85%	+29.40%
Average Drawdown Average peak-to-trough decline	-7.08%	-57.31%	+50.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.98%	7.34%	-5.36%

Volatility

EFAS vs. DBE - Volatility Comparison

The current volatility for Global X MSCI SuperDividend® EAFE ETF (EFAS) is 3.08%, while Invesco DB Energy Fund (DBE) has a volatility of 13.47%. This indicates that EFAS 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.

Volatility by Period

	EFAS	DBE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.08%	13.47%	-10.39%
Volatility (6M) Calculated over the trailing 6-month period	8.17%	30.80%	-22.63%
Volatility (1Y) Calculated over the trailing 1-year period	10.67%	35.02%	-24.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.59%	29.37%	-13.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.33%	28.33%	-10.00%

EFAS vs. DBE - Expense Ratio Comparison

EFAS has a 0.56% expense ratio, which is lower than DBE's 0.78% expense ratio.

Dividends

EFAS vs. DBE - Dividend Comparison

EFAS's dividend yield for the trailing twelve months is around 4.59%, more than DBE's 2.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
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%
EFAS Global X MSCI SuperDividend® EAFE ETF	4.59%	4.83%	6.76%	6.33%	7.28%	5.19%	4.34%	5.75%	6.63%	6.15%	0.21%

Frequently Asked Questions

Can I hold both EFAS and DBE in my portfolio?

EFAS and DBE have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EFAS or DBE?

DBE has higher volatility (13.47%) compared to EFAS (3.08%). In terms of maximum drawdown, EFAS dropped -44.38% vs DBE's -86.69%.

Which ETF is better, EFAS or DBE?

On 5-year performance, DBE leads with 19.20% vs 12.25% for EFAS. On fees, EFAS is cheaper at 0.56% per year. On volatility, EFAS has been the lower-risk option at 3.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EFAS or DBE?

Over the 5-year period, DBE has performed better with a 19.20% return vs 12.25%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EFAS or DBE?

EFAS is cheaper with a 0.56% expense ratio, compared with 0.78% for DBE.

Which ETF pays a higher dividend yield, EFAS or DBE?

EFAS has the higher dividend yield at 4.59%, compared with 2.15% for DBE.

What is the main difference between EFAS and DBE?

EFAS is categorized as Foreign Large Cap Equities, while DBE is Oil & Gas. EFAS tracks MSCI EAFE Top 50 Dividend Index, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: Global X and Invesco. Their fees differ too: 0.56% for EFAS and 0.78% for DBE.

Which has better risk-adjusted returns?

EFAS currently has the higher Sharpe Ratio (2.70 vs 2.37), 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.