EMNT vs. DBE
EMNT (PIMCO Enhanced Short Maturity Active ESG ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - EMNT is a Ultrashort Bond fund actively managed by PIMCO, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. EMNT is actively managed, while DBE is passively managed. Over the past 5 years, EMNT returned 3.51%/yr vs 16.54%/yr for DBE. At a correlation of -0.07, they often move in opposite directions. EMNT charges 0.24%/yr vs 0.78%/yr for DBE.
Performance
EMNT vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, EMNT achieves a 2.06% return, which is significantly lower than DBE's 66.08% return.
EMNT
- 1D
- -0.01%
- 1M
- 0.28%
- 6M
- 1.93%
- YTD
- 2.06%
- 1Y
- 4.28%
- 3Y*
- 5.15%
- 5Y*
- 3.51%
- 10Y*
- —
DBE
- 1D
- 6.87%
- 1M
- -1.18%
- 6M
- 62.18%
- YTD
- 66.08%
- 1Y
- 53.22%
- 3Y*
- 17.13%
- 5Y*
- 16.54%
- 10Y*
- 11.15%
EMNT vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EMNT PIMCO Enhanced Short Maturity Active ESG ETF | 2.06% | 4.74% | 5.79% | 5.84% | -0.57% | 0.11% | 2.08% | 0.06% |
DBE Invesco DB Energy Fund | 66.08% | -2.17% | 2.96% | -12.14% | 33.77% | 57.56% | -25.91% | 3.86% |
Correlation
The correlation between EMNT 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 | -0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.07 |
Correlation (All Time) Calculated using the full available price history since Dec 12, 2019 | -0.07 |
Over the past year, the inverse relationship between EMNT and DBE has strengthened: their correlation has moved from -0.07 to -0.34, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
EMNT vs. DBE — Risk / Return Rank
EMNT
DBE
EMNT vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Enhanced Short Maturity Active ESG ETF (EMNT) 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.
| EMNT | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +7.82 | ||
| Sortino ratioReturn per unit of downside risk | +14.82 | ||
| Omega ratioGain probability vs. loss probability | 4.64 | 1.26 | +3.38 |
| Calmar ratioReturn relative to maximum drawdown | 32.72 | 2.16 | +30.55 |
| Martin ratioReturn relative to average drawdown | 202.57 | 6.57 | +196.00 |
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Drawdowns
EMNT vs. DBE - Drawdown Comparison
The maximum EMNT drawdown since its inception was -2.28%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for EMNT and DBE.
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Drawdown Indicators
| EMNT | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.28% | -86.69% | +84.41% |
Max Drawdown (1Y)Largest decline over 1 year | -0.13% | -24.72% | +24.59% |
Max Drawdown (3Y)Largest decline over 3 years | -0.73% | -24.72% | +23.99% |
Max Drawdown (5Y)Largest decline over 5 years | -1.70% | -38.74% | +37.04% |
Max Drawdown (10Y)Largest decline over 10 years | — | -60.84% | — |
Current DrawdownCurrent decline from peak | -0.01% | -36.95% | +36.94% |
Average DrawdownAverage peak-to-trough decline | -0.23% | -57.20% | +56.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 8.13% | -8.11% |
Volatility
EMNT vs. DBE - Volatility Comparison
The current volatility for PIMCO Enhanced Short Maturity Active ESG ETF (EMNT) is 0.22%, while Invesco DB Energy Fund (DBE) has a volatility of 12.49%. This indicates that EMNT 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
| EMNT | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.22% | 12.49% | -12.27% |
Volatility (6M)Calculated over the trailing 6-month period | 0.40% | 32.73% | -32.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.46% | 36.03% | -35.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.83% | 29.89% | -29.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.86% | 28.40% | -27.54% |
EMNT vs. DBE - Expense Ratio Comparison
EMNT has a 0.24% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
EMNT vs. DBE - Dividend Comparison
EMNT's dividend yield for the trailing twelve months is around 3.94%, more than DBE's 2.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.33% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% |
EMNT PIMCO Enhanced Short Maturity Active ESG ETF | 3.94% | 4.46% | 5.14% | 4.62% | 2.79% | 0.66% | 1.44% | 0.00% | 0.00% |
Frequently Asked Questions
EMNT 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 (12.49%) compared to EMNT (0.22%). In terms of maximum drawdown, EMNT dropped -2.28% vs DBE's -86.69%.
On 5-year performance, DBE leads with 16.54% vs 3.51% for EMNT. On fees, EMNT is cheaper at 0.24% per year. On volatility, EMNT has been the lower-risk option at 0.22%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DBE has performed better with a 16.54% return vs 3.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EMNT is cheaper with a 0.24% expense ratio, compared with 0.78% for DBE.
EMNT has the higher dividend yield at 3.94%, compared with 2.33% for DBE.
EMNT is categorized as Ultrashort Bond, while DBE is Oil & Gas. They also come from different issuers: PIMCO and Invesco. Their fees differ too: 0.24% for EMNT and 0.78% for DBE.
EMNT currently has the higher Sharpe Ratio (9.31 vs 1.49), 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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