ETCG vs. DBE
ETCG (Grayscale Ethereum Classic Trust (ETC)) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - ETCG is a Cryptocurrency fund tracking the Ethereum Classic (ETC), while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 5 years, ETCG returned -31.44%/yr vs 14.49%/yr for DBE. At a 0.06 correlation, their price movements are largely independent. ETCG charges 2.50%/yr vs 0.78%/yr for DBE.
Performance
ETCG vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, ETCG achieves a -38.17% return, which is significantly lower than DBE's 52.65% return.
ETCG
- 1D
- 3.62%
- 1M
- -7.82%
- YTD
- -38.17%
- 6M
- -41.55%
- 1Y
- -50.68%
- 3Y*
- -15.22%
- 5Y*
- -31.44%
- 10Y*
- —
DBE
- 1D
- 2.54%
- 1M
- -14.00%
- YTD
- 52.65%
- 6M
- 50.37%
- 1Y
- 48.29%
- 3Y*
- 16.21%
- 5Y*
- 14.49%
- 10Y*
- 10.15%
ETCG vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
ETCG Grayscale Ethereum Classic Trust (ETC) | -38.17% | -39.78% | -9.57% | 289.22% | -80.45% | 145.11% | -10.70% | 7.52% | -74.91% |
DBE Invesco DB Energy Fund | 52.65% | -2.17% | 2.96% | -12.14% | 33.77% | 57.56% | -25.91% | 19.72% | -23.94% |
Correlation
The correlation between ETCG and DBE is -0.11, 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 | -0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since May 10, 2018 | 0.06 |
The correlation between ETCG and DBE shifts across timeframes, from -0.11 (1 year) to 0.06 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
ETCG vs. DBE — Risk / Return Rank
ETCG
DBE
ETCG vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Ethereum Classic Trust (ETC) (ETCG) 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.
| ETCG | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.21 | ||
| Sortino ratioReturn per unit of downside risk | -3.25 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.25 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | -0.74 | 2.03 | -2.77 |
| Martin ratioReturn relative to average drawdown | -1.09 | 7.21 | -8.30 |
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Drawdowns
ETCG vs. DBE - Drawdown Comparison
The maximum ETCG drawdown since its inception was -96.59%, which is greater than DBE's maximum drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for ETCG and DBE.
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Drawdown Indicators
| ETCG | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -96.59% | -86.69% | -9.90% |
Max Drawdown (1Y)Largest decline over 1 year | -68.71% | -23.89% | -44.82% |
Max Drawdown (3Y)Largest decline over 3 years | -79.59% | -23.89% | -55.70% |
Max Drawdown (5Y)Largest decline over 5 years | -92.70% | -38.74% | -53.96% |
Max Drawdown (10Y)Largest decline over 10 years | — | -60.84% | — |
Current DrawdownCurrent decline from peak | -95.53% | -42.05% | -53.48% |
Average DrawdownAverage peak-to-trough decline | -82.72% | -57.23% | -25.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 46.42% | 6.72% | +39.70% |
Volatility
ETCG vs. DBE - Volatility Comparison
Grayscale Ethereum Classic Trust (ETC) (ETCG) has a higher volatility of 11.97% compared to Invesco DB Energy Fund (DBE) at 9.93%. This indicates that ETCG's price experiences larger fluctuations and is considered to be riskier 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
| ETCG | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.97% | 9.93% | +2.04% |
Volatility (6M)Calculated over the trailing 6-month period | 36.55% | 31.70% | +4.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 62.06% | 34.79% | +27.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 93.30% | 29.64% | +63.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 114.95% | 28.36% | +86.59% |
ETCG vs. DBE - Expense Ratio Comparison
ETCG has a 2.50% expense ratio, which is higher than DBE's 0.78% expense ratio.
Dividends
ETCG vs. DBE - Dividend Comparison
ETCG has not paid dividends to shareholders, while DBE's dividend yield for the trailing twelve months is around 2.53%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.53% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% |
ETCG Grayscale Ethereum Classic Trust (ETC) | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ETCG and DBE have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ETCG has higher volatility (11.97%) compared to DBE (9.93%). In terms of maximum drawdown, ETCG dropped -96.59% vs DBE's -86.69%.
On 5-year performance, DBE leads with 14.49% vs -31.44% for ETCG. On fees, DBE is cheaper at 0.78% per year. On volatility, DBE has been the lower-risk option at 9.93%. 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 14.49% return vs -31.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DBE is cheaper with a 0.78% expense ratio, compared with 2.50% for ETCG.
DBE has the higher dividend yield at 2.53%, compared with 0.00% for ETCG.
ETCG is categorized as Cryptocurrency, while DBE is Oil & Gas. ETCG tracks Ethereum Classic (ETC), while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: Grayscale and Invesco. Their fees differ too: 2.50% for ETCG and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (1.39 vs -0.82), 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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