ETCO vs. DBE
ETCO (Grayscale Ethereum Covered Call ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - ETCO is a Cryptocurrency fund actively managed by Grayscale, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. ETCO is actively managed, while DBE is passively managed. Their -0.09 correlation means they have often moved in opposite directions in the past. ETCO charges 0.66%/yr vs 0.78%/yr for DBE.
Performance
ETCO vs. DBE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ETCO achieves a -34.69% return, which is significantly lower than DBE's 78.87% return.
ETCO
- 1D
- -2.50%
- 1M
- 5.77%
- 6M
- -27.08%
- YTD
- -34.69%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
DBE
- 1D
- 1.13%
- 1M
- 21.13%
- 6M
- 53.89%
- YTD
- 78.87%
- 1Y
- 68.62%
- 3Y*
- 17.16%
- 5Y*
- 17.73%
- 10Y*
- 13.17%
- ALL TIME*
- 2.52%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.24M | $1.18M | $1.76M | |
| $41.84K | $37.58K | $56.92K |
ETCO vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ETCO Grayscale Ethereum Covered Call ETF | -34.69% | -26.08% |
DBE Invesco DB Energy Fund | 78.87% | -5.39% |
Correlation
The correlation between ETCO and DBE is -0.09, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 4, 2025 | -0.09 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
ETCO vs. DBE — Risk / Return Rank
ETCO
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
DBE
ETCO vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Grayscale Ethereum Covered Call ETF (ETCO) 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.
| ETCO | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.29 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.59 | — |
| Martin ratioReturn relative to average drawdown | — | 8.14 | — |
Loading charts...
Drawdowns
ETCO vs. DBE - Drawdown Comparison
The maximum ETCO drawdown since its inception was -59.43%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for ETCO and DBE.
Loading charts...
Drawdown Indicators
| ETCO | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.43% | -86.69% | +27.26% |
Max Drawdown (1Y)Largest decline over 1 year | — | -24.72% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -24.72% | — |
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 | -55.22% | -32.09% | -23.13% |
Average DrawdownAverage peak-to-trough decline | -38.17% | -57.13% | +18.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 8.15% | — |
Volatility
ETCO vs. DBE - Volatility Comparison
Loading charts...
Volatility by Period
| ETCO | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 14.12% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 33.95% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 50.60% | 37.47% | +13.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.60% | 30.09% | +20.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.60% | 28.58% | +22.02% |
ETCO vs. DBE - Expense Ratio Comparison
ETCO has a 0.66% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
ETCO vs. DBE - Dividend Comparison
ETCO's dividend yield for the trailing twelve months is around 153.50%, more than DBE's 2.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.16% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% |
ETCO Grayscale Ethereum Covered Call ETF | 153.50% | 42.29% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ETCO and DBE have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ETCO is cheaper at 0.66% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ETCO is cheaper with a 0.66% expense ratio, compared with 0.78% for DBE.
ETCO has the higher dividend yield at 153.50%, compared with 2.16% for DBE.
ETCO is categorized as Cryptocurrency, while DBE is Oil & Gas. They also come from different issuers: Grayscale and Invesco. Their fees differ too: 0.66% for ETCO and 0.78% for DBE.
Find the right allocation for ETCO and DBE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer