EZET vs. DBE

Last updated Jun 4, 2026

EZET (Franklin Ethereum ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - EZET 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, EZET returned -31.70% vs 84.41% for DBE. At a correlation of -0.03, they often move in opposite directions. EZET charges 0.19%/yr vs 0.78%/yr for DBE.

Performance

EZET vs. DBE - Performance Comparison

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

Returns By Period

In the year-to-date period, EZET achieves a -39.43% return, which is significantly lower than DBE's 83.68% return.

EZET

• 1D: -5.67%
• 1M: -23.67%
• YTD: -39.43%
• 6M: -42.74%
• 1Y: -31.70%
• 3Y*: —
• 5Y*: —
• 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%

*Multi-year figures are annualized to reflect compound growth (CAGR)

EZET vs. DBE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EZET Franklin Ethereum ETF	-39.43%	-11.23%	-3.68%
DBE Invesco DB Energy Fund	83.68%	-2.17%	-1.53%

Correlation

The correlation between EZET and DBE is -0.12, 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	-0.12
Correlation (All Time) Calculated using the full available price history since Jul 24, 2024	-0.03

Return for Risk

EZET vs. DBE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EZET

EZET Risk / Return Rank: 5
EZET Sharpe Ratio Rank: 5
EZET Sortino Ratio Rank: 6
EZET Omega Ratio Rank: 6
EZET Calmar Ratio Rank: 5
EZET Martin Ratio Rank: 5

DBE

DBE Risk / Return Rank: 71
DBE Sharpe Ratio Rank: 74
DBE Sortino Ratio Rank: 63
DBE Omega Ratio Rank: 65
DBE Calmar Ratio Rank: 91
DBE Martin Ratio Rank: 63

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.

EZET vs. DBE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Ethereum ETF (EZET) 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.

	EZET	DBE	Difference
Sharpe ratio: Return per unit of total volatility	-0.47	2.43	-2.89
Sortino ratio: Return per unit of downside risk	-0.32	2.96	-3.27
Omega ratio: Gain probability vs. loss probability	0.97	1.40	-0.43
Calmar ratio: Return relative to maximum drawdown	-0.51	5.89	-6.40
Martin ratio: Return relative to average drawdown	-0.84	11.53	-12.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EZET vs. DBE - Sharpe Ratio Comparison

The current EZET Sharpe Ratio is -0.47, which is lower than the DBE Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of EZET 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.

Sharpe Ratios by Period

	EZET	DBE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.47	2.43	-2.89
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.67	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.43	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.41	0.09	-0.51

Drawdowns

EZET vs. DBE - Drawdown Comparison

The maximum EZET drawdown since its inception was -64.05%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for EZET and DBE.

Drawdown Indicators

	EZET	DBE	Difference
Max Drawdown Largest peak-to-trough decline	-64.05%	-86.69%	+22.64%
Max Drawdown (1Y) Largest decline over 1 year	-62.87%	-14.41%	-48.46%
Max Drawdown (3Y) Largest decline over 3 years	—	-23.89%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-38.74%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-60.84%	—
Current Drawdown Current decline from peak	-62.87%	-30.27%	-32.60%
Average Drawdown Average peak-to-trough decline	-32.67%	-57.31%	+24.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	37.73%	7.35%	+30.38%

Volatility

EZET vs. DBE - Volatility Comparison

The current volatility for Franklin Ethereum ETF (EZET) is 9.88%, while Invesco DB Energy Fund (DBE) has a volatility of 12.95%. This indicates that EZET 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.

Volatility by Period

	EZET	DBE	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.88%	12.95%	-3.07%
Volatility (6M) Calculated over the trailing 6-month period	46.05%	30.86%	+15.19%
Volatility (1Y) Calculated over the trailing 1-year period	68.43%	34.97%	+33.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	72.37%	29.39%	+42.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	72.37%	28.33%	+44.04%

EZET vs. DBE - Expense Ratio Comparison

EZET has a 0.19% expense ratio, which is lower than DBE's 0.78% expense ratio.

Dividends

EZET vs. DBE - Dividend Comparison

EZET has not paid dividends to shareholders, while DBE's dividend yield for the trailing twelve months is around 2.10%.

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%
EZET Franklin Ethereum ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EZET and DBE in my portfolio?

EZET 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.

Which is riskier, EZET or DBE?

DBE has higher volatility (12.95%) compared to EZET (9.88%). In terms of maximum drawdown, EZET dropped -64.05% vs DBE's -86.69%.

Which ETF is better, EZET or DBE?

On 1-year performance, DBE leads with 84.41% vs -31.70% for EZET. On fees, EZET is cheaper at 0.19% per year. On volatility, EZET has been the lower-risk option at 9.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EZET or DBE?

Over the 1-year period, DBE has performed better with a 84.41% return vs -31.70%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EZET or DBE?

EZET is cheaper with a 0.19% expense ratio, compared with 0.78% for DBE.

Which ETF pays a higher dividend yield, EZET or DBE?

DBE has the higher dividend yield at 2.10%, compared with 0.00% for EZET.

What is the main difference between EZET and DBE?

EZET is categorized as Cryptocurrency, while DBE is Oil & Gas. EZET tracks CME CF Ether-Dollar Reference Rate - New York Variant, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: Franklin Templeton and Invesco. Their fees differ too: 0.19% for EZET and 0.78% for DBE.

Which has better risk-adjusted returns?

DBE currently has the higher Sharpe Ratio (2.43 vs -0.47), 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.