EPHE vs. DBE
EPHE (iShares MSCI Philippines ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - EPHE is a Asia Pacific Equities fund tracking the MSCI Philippines Investable Market Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 10 years, EPHE returned -3.39%/yr vs 11.15%/yr for DBE. At a 0.18 correlation, their price movements are largely independent. EPHE charges 0.59%/yr vs 0.78%/yr for DBE.
Performance
EPHE vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, EPHE achieves a 2.00% return, which is significantly lower than DBE's 66.08% return. Over the past 10 years, EPHE has underperformed DBE with an annualized return of -3.39%, while DBE has yielded a comparatively higher 11.15% annualized return.
EPHE
- 1D
- -1.35%
- 1M
- 1.67%
- 6M
- -3.76%
- YTD
- 2.00%
- 1Y
- -5.56%
- 3Y*
- -0.26%
- 5Y*
- -1.57%
- 10Y*
- -3.39%
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%
EPHE vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EPHE iShares MSCI Philippines ETF | 2.00% | 1.56% | -1.41% | 1.27% | -15.87% | -2.23% | -3.95% | 8.50% | -17.50% | 20.20% |
DBE Invesco DB Energy Fund | 66.08% | -2.17% | 2.96% | -12.14% | 33.77% | 57.56% | -25.91% | 19.72% | -12.95% | 5.21% |
Correlation
The correlation between EPHE and DBE is -0.27, 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 | -0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Sep 29, 2010 | 0.18 |
The correlation between EPHE and DBE shifts across timeframes, from -0.27 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EPHE vs. DBE — Risk / Return Rank
EPHE
DBE
EPHE vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Philippines ETF (EPHE) 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.
| EPHE | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.76 | ||
| Sortino ratioReturn per unit of downside risk | -2.35 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.26 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | -0.35 | 2.16 | -2.51 |
| Martin ratioReturn relative to average drawdown | -0.61 | 6.57 | -7.18 |
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Drawdowns
EPHE vs. DBE - Drawdown Comparison
The maximum EPHE drawdown since its inception was -53.82%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for EPHE and DBE.
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Drawdown Indicators
| EPHE | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.82% | -86.69% | +32.87% |
Max Drawdown (1Y)Largest decline over 1 year | -15.90% | -24.72% | +8.82% |
Max Drawdown (3Y)Largest decline over 3 years | -21.42% | -24.72% | +3.30% |
Max Drawdown (5Y)Largest decline over 5 years | -32.96% | -38.74% | +5.78% |
Max Drawdown (10Y)Largest decline over 10 years | -51.62% | -60.84% | +9.22% |
Current DrawdownCurrent decline from peak | -32.56% | -36.95% | +4.39% |
Average DrawdownAverage peak-to-trough decline | -21.06% | -57.20% | +36.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.13% | 8.13% | +1.00% |
Volatility
EPHE vs. DBE - Volatility Comparison
The current volatility for iShares MSCI Philippines ETF (EPHE) is 9.64%, while Invesco DB Energy Fund (DBE) has a volatility of 12.49%. This indicates that EPHE 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
| EPHE | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.64% | 12.49% | -2.85% |
Volatility (6M)Calculated over the trailing 6-month period | 15.92% | 32.73% | -16.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.62% | 36.03% | -15.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.45% | 29.89% | -11.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.28% | 28.40% | -6.12% |
EPHE vs. DBE - Expense Ratio Comparison
EPHE has a 0.59% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
EPHE vs. DBE - Dividend Comparison
EPHE's dividend yield for the trailing twelve months is around 2.72%, more than DBE's 2.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.33% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% | 0.00% | 0.00% | 0.00% |
EPHE iShares MSCI Philippines ETF | 2.72% | 2.11% | 2.32% | 2.01% | 1.73% | 1.05% | 0.72% | 0.78% | 0.45% | 0.36% | 0.71% | 1.03% |
Frequently Asked Questions
EPHE and DBE have a correlation of -0.27, 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 EPHE (9.64%). In terms of maximum drawdown, EPHE dropped -53.82% vs DBE's -86.69%.
On 10-year performance, DBE leads with 11.15% vs -3.39% for EPHE. On fees, EPHE is cheaper at 0.59% per year. On volatility, EPHE has been the lower-risk option at 9.64%. 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 11.15% return vs -3.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EPHE is cheaper with a 0.59% expense ratio, compared with 0.78% for DBE.
EPHE has the higher dividend yield at 2.72%, compared with 2.33% for DBE.
EPHE is categorized as Asia Pacific Equities, while DBE is Oil & Gas. EPHE tracks MSCI Philippines Investable Market Index, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.59% for EPHE and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (1.49 vs -0.27), 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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