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EVX vs. DBE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

EVX vs. DBE

Last updated Jun 5, 2026

EVX (VanEck Vectors Environmental Services ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - EVX is a Industrials Equities fund tracking the NYSE Arca Environmental Services Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 10 years, EVX returned 11.92%/yr vs 11.58%/yr for DBE. At a 0.24 correlation, their price movements are largely independent. EVX charges 0.55%/yr vs 0.78%/yr for DBE.

Performance

EVX vs. DBE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Vectors Environmental Services ETF (EVX) and Invesco DB Energy Fund (DBE). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, EVX achieves a 3.50% return, which is significantly lower than DBE's 79.04% return. Both investments have delivered pretty close results over the past 10 years, with EVX having a 11.92% annualized return and DBE not far behind at 11.58%.

EVX

1D
0.50%
1M
-0.77%
YTD
3.50%
6M
2.17%
1Y
6.14%
3Y*
10.59%
5Y*
7.23%
10Y*
11.92%

DBE

1D
-2.52%
1M
-6.01%
YTD
79.04%
6M
69.31%
1Y
81.31%
3Y*
22.41%
5Y*
19.05%
10Y*
11.58%
*Multi-year figures are annualized to reflect compound growth (CAGR)

EVX vs. DBE - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
EVX
VanEck Vectors Environmental Services ETF		3.50%11.72%12.99%12.97%-10.58%27.47%13.28%28.41%-3.82%16.05%
DBE
Invesco DB Energy Fund		79.04%-2.17%2.96%-12.14%33.77%57.56%-25.91%19.72%-12.95%5.21%

Correlation

The correlation between EVX and DBE is -0.19, 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

-0.19

Correlation (3Y)
Calculated over the trailing 3-year period

-0.02

Correlation (5Y)
Calculated over the trailing 5-year period

0.12

Correlation (10Y)
Calculated over the trailing 10-year period

0.17

Correlation (All Time)
Calculated using the full available price history since Jan 8, 2007

0.24

The correlation between EVX and DBE shifts across timeframes, from -0.19 (1 year) to 0.24 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

VanEck Vectors Environmental Services ETF

Invesco DB Energy Fund

Often compared with EVX:
EVX vs. PHOEVX vs. VOOEVX vs. ^DJTEVX vs. EPUEVX vs. AQWAEVX vs. AVGOEVX vs. CLH
Often compared with DBE:
DBE vs. DBBDBE vs. XLEDBE vs. VDEDBE vs. XLKDBE vs. COMTDBE vs. GLDDBE vs. TIP

Return for Risk

EVX vs. DBE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EVX
EVX Risk / Return Rank: 1616
Overall Rank
EVX Sharpe Ratio Rank: 1717
Sharpe Ratio Rank
EVX Sortino Ratio Rank: 1616
Sortino Ratio Rank
EVX Omega Ratio Rank: 1616
Omega Ratio Rank
EVX Calmar Ratio Rank: 1616
Calmar Ratio Rank
EVX Martin Ratio Rank: 1616
Martin Ratio Rank
DBE
DBE Risk / Return Rank: 7171
Overall Rank
DBE Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
DBE Sortino Ratio Rank: 6262
Sortino Ratio Rank
DBE Omega Ratio Rank: 6565
Omega Ratio Rank
DBE Calmar Ratio Rank: 9191
Calmar Ratio Rank
DBE Martin Ratio Rank: 6262
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EVX vs. DBE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors Environmental Services ETF (EVX) 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.

EVXDBEDifference
Sharpe ratioReturn per unit of total volatility
0.45
2.33

-1.88

Sortino ratioReturn per unit of downside risk
0.72
2.87

-2.15

Omega ratioGain probability vs. loss probability

1.09

1.39

-0.30

Calmar ratioReturn relative to maximum drawdown

0.57

5.67

-5.11

Martin ratioReturn relative to average drawdown

1.34

11.08

-9.73

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EVX vs. DBE - Sharpe Ratio Comparison

The current EVX Sharpe Ratio is 0.45, which is lower than the DBE Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of EVX and DBE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

EVXDBEDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.45

2.33

-1.88

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.41

0.65

-0.24

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.59

0.41

+0.18

Sharpe Ratio (All Time)

Calculated using the full available price history

0.43

0.09

+0.34

Drawdowns

EVX vs. DBE - Drawdown Comparison

The maximum EVX drawdown since its inception was -55.91%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for EVX and DBE.

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Drawdown Indicators

EVXDBEDifference

Max Drawdown

Largest peak-to-trough decline

-55.91%

-86.69%

+30.78%

Max Drawdown (1Y)

Largest decline over 1 year

-10.85%

-14.41%

+3.56%

Max Drawdown (3Y)

Largest decline over 3 years

-19.33%

-23.89%

+4.56%

Max Drawdown (5Y)

Largest decline over 5 years

-21.45%

-38.74%

+17.29%

Max Drawdown (10Y)

Largest decline over 10 years

-41.01%

-60.84%

+19.83%

Current Drawdown

Current decline from peak

-6.50%

-32.03%

+25.53%

Average Drawdown

Average peak-to-trough decline

-8.76%

-57.30%

+48.54%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.58%

7.37%

-2.79%

Volatility

EVX vs. DBE - Volatility Comparison

The current volatility for VanEck Vectors Environmental Services ETF (EVX) is 3.50%, while Invesco DB Energy Fund (DBE) has a volatility of 13.05%. This indicates that EVX 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

EVXDBEDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.50%

13.05%

-9.55%

Volatility (6M)

Calculated over the trailing 6-month period

9.91%

30.97%

-21.06%

Volatility (1Y)

Calculated over the trailing 1-year period

13.58%

35.07%

-21.49%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.60%

29.41%

-11.81%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.25%

28.34%

-8.09%

EVX vs. DBE - Expense Ratio Comparison

EVX has a 0.55% expense ratio, which is lower than DBE's 0.78% expense ratio.

Dividends

EVX vs. DBE - Dividend Comparison

EVX's dividend yield for the trailing twelve months is around 0.18%, less than DBE's 2.16% yield.

PositionTTM20252024202320222021202020192018201720162015
DBE
Invesco DB Energy Fund		2.16%3.86%6.32%3.87%0.75%0.00%0.00%1.79%1.67%0.00%0.00%0.00%
EVX
VanEck Vectors Environmental Services ETF		0.18%0.19%0.46%0.95%0.41%0.24%0.32%0.38%0.38%0.89%0.70%1.16%

Frequently Asked Questions

EVX and DBE have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DBE has higher volatility (13.05%) compared to EVX (3.50%). In terms of maximum drawdown, EVX dropped -55.91% vs DBE's -86.69%.

On 10-year performance, EVX leads with 11.92% vs 11.58% for DBE. On fees, EVX is cheaper at 0.55% per year. On volatility, EVX has been the lower-risk option at 3.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, EVX has performed better with a 11.92% return vs 11.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EVX is cheaper with a 0.55% expense ratio, compared with 0.78% for DBE.

DBE has the higher dividend yield at 2.16%, compared with 0.18% for EVX.

EVX is categorized as Industrials Equities, while DBE is Oil & Gas. EVX tracks NYSE Arca Environmental Services 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 EVX and 0.78% for DBE.

DBE currently has the higher Sharpe Ratio (2.33 vs 0.45), 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.

Portfolio Optimizer

Find the right allocation for EVX and DBE

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