ESPO vs. DBE
ESPO (VanEck Vectors Video Gaming and eSports ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - ESPO is a Large Cap Growth Equities fund tracking the MVIS Global Video Gaming and eSports Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 5 years, ESPO returned 6.23%/yr vs 19.66%/yr for DBE. At a 0.13 correlation, their price movements are largely independent. ESPO charges 0.55%/yr vs 0.78%/yr for DBE.
Performance
ESPO vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, ESPO achieves a -13.31% return, which is significantly lower than DBE's 83.68% return.
ESPO
- 1D
- -2.20%
- 1M
- -1.23%
- YTD
- -13.31%
- 6M
- -16.99%
- 1Y
- -11.55%
- 3Y*
- 19.46%
- 5Y*
- 6.23%
- 10Y*
- —
DBE
- 1D
- 2.33%
- 1M
- -5.45%
- YTD
- 83.68%
- 6M
- 74.95%
- 1Y
- 84.41%
- 3Y*
- 23.42%
- 5Y*
- 19.66%
- 10Y*
- 12.03%
ESPO vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
ESPO VanEck Vectors Video Gaming and eSports ETF | -13.31% | 25.79% | 47.61% | 33.64% | -34.71% | -2.13% | 83.93% | 42.36% | -12.57% |
DBE Invesco DB Energy Fund | 83.68% | -2.17% | 2.96% | -12.14% | 33.77% | 57.56% | -25.91% | 19.72% | -27.97% |
Correlation
The correlation between ESPO and DBE is -0.28, 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 | -0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Oct 18, 2018 | 0.13 |
The correlation between ESPO and DBE shifts across timeframes, from -0.28 (1 year) to 0.13 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ESPO vs. DBE — Risk / Return Rank
ESPO
DBE
ESPO vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors Video Gaming and eSports ETF (ESPO) 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.
| ESPO | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.04 | ||
| Sortino ratioReturn per unit of downside risk | -3.71 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.40 | -0.49 |
| Calmar ratioReturn relative to maximum drawdown | -0.42 | 5.89 | -6.31 |
| Martin ratioReturn relative to average drawdown | -0.76 | 11.53 | -12.28 |
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
| ESPO | DBE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.62 | 2.43 | -3.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.25 | 0.67 | -0.42 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.43 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 0.09 | +0.54 |
Drawdowns
ESPO vs. DBE - Drawdown Comparison
The maximum ESPO drawdown since its inception was -50.99%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for ESPO and DBE.
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Drawdown Indicators
| ESPO | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.99% | -86.69% | +35.70% |
Max Drawdown (1Y)Largest decline over 1 year | -27.81% | -14.41% | -13.40% |
Max Drawdown (3Y)Largest decline over 3 years | -27.81% | -23.89% | -3.92% |
Max Drawdown (5Y)Largest decline over 5 years | -48.33% | -38.74% | -9.59% |
Max Drawdown (10Y)Largest decline over 10 years | — | -60.84% | — |
Current DrawdownCurrent decline from peak | -25.66% | -30.27% | +4.61% |
Average DrawdownAverage peak-to-trough decline | -15.03% | -57.31% | +42.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.30% | 7.35% | +7.95% |
Volatility
ESPO vs. DBE - Volatility Comparison
The current volatility for VanEck Vectors Video Gaming and eSports ETF (ESPO) is 5.00%, while Invesco DB Energy Fund (DBE) has a volatility of 12.95%. This indicates that ESPO 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
| ESPO | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.00% | 12.95% | -7.95% |
Volatility (6M)Calculated over the trailing 6-month period | 14.58% | 30.86% | -16.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.85% | 34.97% | -16.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.12% | 29.39% | -4.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.75% | 28.33% | -2.58% |
ESPO vs. DBE - Expense Ratio Comparison
ESPO has a 0.55% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
ESPO vs. DBE - Dividend Comparison
ESPO's dividend yield for the trailing twelve months is around 1.44%, less than DBE's 2.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.10% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% |
ESPO VanEck Vectors Video Gaming and eSports ETF | 1.44% | 1.24% | 0.44% | 0.96% | 0.91% | 3.36% | 0.12% | 0.22% | 0.04% |
Frequently Asked Questions
ESPO and DBE have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBE has higher volatility (12.95%) compared to ESPO (5.00%). In terms of maximum drawdown, ESPO dropped -50.99% vs DBE's -86.69%.
On 5-year performance, DBE leads with 19.66% vs 6.23% for ESPO. On fees, ESPO is cheaper at 0.55% per year. On volatility, ESPO has been the lower-risk option at 5.00%. 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 19.66% return vs 6.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ESPO is cheaper with a 0.55% expense ratio, compared with 0.78% for DBE.
DBE has the higher dividend yield at 2.10%, compared with 1.44% for ESPO.
ESPO is categorized as Large Cap Growth Equities, while DBE is Oil & Gas. ESPO tracks MVIS Global Video Gaming and eSports Index, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: VanEck and Invesco. Their fees differ too: 0.55% for ESPO and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (2.43 vs -0.62), 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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