ESN vs. DBE
ESN (Essential 40 Stock ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - ESN is a Large Cap Blend Equities fund tracking the Essential 40 Stock Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past year, ESN returned 26.33% vs 76.30% for DBE. At a correlation of -0.10, they often move in opposite directions. ESN charges 0.70%/yr vs 0.78%/yr for DBE.
Performance
ESN vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, ESN achieves a 13.17% return, which is significantly lower than DBE's 75.49% return.
ESN
- 1D
- -1.55%
- 1M
- 2.19%
- YTD
- 13.17%
- 6M
- 13.13%
- 1Y
- 26.33%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DBE
- 1D
- -1.98%
- 1M
- -1.03%
- YTD
- 75.49%
- 6M
- 64.58%
- 1Y
- 76.30%
- 3Y*
- 21.68%
- 5Y*
- 18.57%
- 10Y*
- 11.19%
ESN vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ESN Essential 40 Stock ETF | 13.17% | 16.52% | -2.98% |
DBE Invesco DB Energy Fund | 75.49% | -2.17% | 4.18% |
Correlation
The correlation between ESN and DBE is -0.24, 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 | -0.24 |
Correlation (All Time) Calculated using the full available price history since Oct 22, 2024 | -0.10 |
The correlation between ESN and DBE shifts across timeframes, from -0.24 (1 year) to -0.10 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ESN vs. DBE — Risk / Return Rank
ESN
DBE
ESN vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Essential 40 Stock ETF (ESN) 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.
| ESN | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.49 | ||
| Sortino ratioReturn per unit of downside risk | +0.97 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.37 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 4.12 | 5.32 | -1.21 |
| Martin ratioReturn relative to average drawdown | 16.39 | 10.35 | +6.04 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ESN | DBE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.67 | 2.18 | +0.49 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.63 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.40 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.24 | 0.09 | +1.15 |
Drawdowns
ESN vs. DBE - Drawdown Comparison
The maximum ESN drawdown since its inception was -13.60%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for ESN and DBE.
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Drawdown Indicators
| ESN | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.60% | -86.69% | +73.09% |
Max Drawdown (1Y)Largest decline over 1 year | -6.42% | -14.41% | +7.99% |
Max Drawdown (3Y)Largest decline over 3 years | — | -23.89% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -38.74% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -60.84% | — |
Current DrawdownCurrent decline from peak | -1.84% | -33.38% | +31.54% |
Average DrawdownAverage peak-to-trough decline | -1.87% | -57.30% | +55.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.61% | 7.39% | -5.78% |
Volatility
ESN vs. DBE - Volatility Comparison
The current volatility for Essential 40 Stock ETF (ESN) is 2.97%, while Invesco DB Energy Fund (DBE) has a volatility of 11.07%. This indicates that ESN 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
| ESN | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.97% | 11.07% | -8.10% |
Volatility (6M)Calculated over the trailing 6-month period | 7.24% | 31.06% | -23.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.90% | 35.12% | -25.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.33% | 29.41% | -16.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.33% | 28.34% | -15.01% |
ESN vs. DBE - Expense Ratio Comparison
ESN has a 0.70% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
ESN vs. DBE - Dividend Comparison
ESN's dividend yield for the trailing twelve months is around 0.80%, less than DBE's 2.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.20% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% |
ESN Essential 40 Stock ETF | 0.80% | 0.91% | 0.76% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ESN and DBE have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBE has higher volatility (11.07%) compared to ESN (2.97%). In terms of maximum drawdown, ESN dropped -13.60% vs DBE's -86.69%.
On 1-year performance, DBE leads with 76.30% vs 26.33% for ESN. On fees, ESN is cheaper at 0.70% per year. On volatility, ESN has been the lower-risk option at 2.97%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DBE has performed better with a 76.30% return vs 26.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ESN is cheaper with a 0.70% expense ratio, compared with 0.78% for DBE.
DBE has the higher dividend yield at 2.20%, compared with 0.80% for ESN.
ESN is categorized as Large Cap Blend Equities, while DBE is Oil & Gas. ESN tracks Essential 40 Stock Index, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: KKM Financial and Invesco. Their fees differ too: 0.70% for ESN and 0.78% for DBE.
ESN currently has the higher Sharpe Ratio (2.67 vs 2.18), 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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