ETHA vs. DBE
ETHA (iShares Ethereum Trust ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - ETHA is a Cryptocurrency fund tracking the CME CF Ether Dollar Reference Rate - New York Variant, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past year, ETHA returned -46.41% vs 57.60% for DBE. Their -0.03 correlation means they have often moved in opposite directions in the past. ETHA charges 0.25%/yr vs 0.78%/yr for DBE.
Performance
ETHA vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, ETHA achieves a -35.44% return, which is significantly lower than DBE's 63.53% return.
ETHA
- 1D
- 2.33%
- 1M
- 6.86%
- 6M
- -11.38%
- YTD
- -35.44%
- 1Y
- -46.41%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -25.83%
DBE
- 1D
- -0.24%
- 1M
- 9.43%
- 6M
- 46.31%
- YTD
- 63.53%
- 1Y
- 57.60%
- 3Y*
- 13.46%
- 5Y*
- 16.54%
- 10Y*
- 11.73%
- ALL TIME*
- 2.05%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.42M | $1.12M | $1.57M | |
| $419.00M | $406.74M | $410.66M |
ETHA vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ETHA iShares Ethereum Trust ETF | -35.44% | -11.31% | -4.89% |
DBE Invesco DB Energy Fund | 63.53% | -2.17% | -2.73% |
Correlation
The correlation between ETHA and DBE is -0.12, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.12 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2024 | -0.03 |
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Return for Risk
ETHA vs. DBE — Risk / Return Rank
ETHA
DBE
ETHA vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Ethereum Trust ETF (ETHA) 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.
| ETHA | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.23 | ||
| Sortino ratioReturn per unit of downside risk | -2.94 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.26 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.69 | 2.34 | -3.03 |
| Martin ratioReturn relative to average drawdown | -1.01 | 7.22 | -8.23 |
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Drawdowns
ETHA vs. DBE - Drawdown Comparison
The maximum ETHA drawdown since its inception was -67.91%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for ETHA and DBE.
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Drawdown Indicators
| ETHA | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.91% | -86.69% | +18.78% |
Max Drawdown (1Y)Largest decline over 1 year | -67.91% | -24.72% | -43.19% |
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 | -60.43% | -37.92% | -22.51% |
Average DrawdownAverage peak-to-trough decline | -35.35% | -57.12% | +21.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 45.85% | 8.00% | +37.85% |
Volatility
ETHA vs. DBE - Volatility Comparison
The current volatility for iShares Ethereum Trust ETF (ETHA) is 11.68%, while Invesco DB Energy Fund (DBE) has a volatility of 15.65%. This indicates that ETHA 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
| ETHA | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.68% | 15.65% | -3.97% |
Volatility (6M)Calculated over the trailing 6-month period | 43.78% | 33.76% | +10.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 67.06% | 37.85% | +29.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 71.34% | 30.19% | +41.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 71.34% | 28.63% | +42.71% |
ETHA vs. DBE - Expense Ratio Comparison
ETHA has a 0.25% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
ETHA vs. DBE - Dividend Comparison
ETHA has not paid dividends to shareholders, while DBE's dividend yield for the trailing twelve months is around 2.36%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.36% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% |
ETHA iShares Ethereum Trust ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ETHA and DBE have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBE has higher volatility (15.65%) compared to ETHA (11.68%). In terms of maximum drawdown, ETHA dropped -67.91% vs DBE's -86.69%.
On 1-year performance, DBE leads with 57.60% vs -46.41% for ETHA. On fees, ETHA is cheaper at 0.25% per year. On volatility, ETHA has been the lower-risk option at 11.68%. 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 57.60% return vs -46.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ETHA is cheaper with a 0.25% expense ratio, compared with 0.78% for DBE.
DBE has the higher dividend yield at 2.36%, compared with 0.00% for ETHA.
ETHA is categorized as Cryptocurrency, while DBE is Oil & Gas. ETHA tracks CME CF Ether Dollar Reference Rate - New York Variant, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.25% for ETHA and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (1.53 vs -0.69), 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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