FAUG vs. DBE
FAUG (FT Cboe Vest U.S. Equity Buffer ETF - August) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - FAUG is a Defined Outcome fund tracking the Cboe S&P 500 Buffer Protect Index August, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 5 years, FAUG returned 8.98%/yr vs 17.10%/yr for DBE. At a 0.14 correlation, their price movements are largely independent. FAUG charges 0.85%/yr vs 0.78%/yr for DBE.
Performance
FAUG vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, FAUG achieves a 7.22% return, which is significantly lower than DBE's 68.39% return.
FAUG
- 1D
- -0.15%
- 1M
- 0.78%
- 6M
- 6.16%
- YTD
- 7.22%
- 1Y
- 14.88%
- 3Y*
- 13.20%
- 5Y*
- 8.98%
- 10Y*
- —
DBE
- 1D
- -1.09%
- 1M
- 6.25%
- 6M
- 65.69%
- YTD
- 68.39%
- 1Y
- 57.64%
- 3Y*
- 17.96%
- 5Y*
- 17.10%
- 10Y*
- 11.45%
FAUG vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FAUG FT Cboe Vest U.S. Equity Buffer ETF - August | 7.22% | 13.77% | 14.55% | 17.24% | -10.52% | 11.54% | 12.43% | 2.03% |
DBE Invesco DB Energy Fund | 68.39% | -2.17% | 2.96% | -12.14% | 33.77% | 57.56% | -25.91% | 5.85% |
Correlation
The correlation between FAUG and DBE is -0.27, 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 | -0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Nov 7, 2019 | 0.14 |
The correlation between FAUG and DBE shifts across timeframes, from -0.27 (1 year) to 0.14 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FAUG vs. DBE — Risk / Return Rank
FAUG
DBE
FAUG vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest U.S. Equity Buffer ETF - August (FAUG) 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.
| FAUG | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.51 | ||
| Sortino ratioReturn per unit of downside risk | +0.81 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.28 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.84 | 2.34 | +0.50 |
| Martin ratioReturn relative to average drawdown | 14.29 | 7.00 | +7.29 |
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Drawdowns
FAUG vs. DBE - Drawdown Comparison
The maximum FAUG drawdown since its inception was -22.33%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for FAUG and DBE.
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Drawdown Indicators
| FAUG | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.33% | -86.69% | +64.36% |
Max Drawdown (1Y)Largest decline over 1 year | -5.26% | -24.72% | +19.46% |
Max Drawdown (3Y)Largest decline over 3 years | -12.81% | -24.72% | +11.91% |
Max Drawdown (5Y)Largest decline over 5 years | -15.91% | -38.74% | +22.83% |
Max Drawdown (10Y)Largest decline over 10 years | — | -60.84% | — |
Current DrawdownCurrent decline from peak | -0.15% | -36.07% | +35.92% |
Average DrawdownAverage peak-to-trough decline | -2.79% | -57.19% | +54.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.04% | 8.26% | -7.22% |
Volatility
FAUG vs. DBE - Volatility Comparison
The current volatility for FT Cboe Vest U.S. Equity Buffer ETF - August (FAUG) is 1.26%, while Invesco DB Energy Fund (DBE) has a volatility of 11.68%. This indicates that FAUG 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
| FAUG | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.26% | 11.68% | -10.42% |
Volatility (6M)Calculated over the trailing 6-month period | 5.58% | 32.70% | -27.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.06% | 35.99% | -28.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.80% | 29.88% | -19.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.66% | 28.39% | -15.73% |
FAUG vs. DBE - Expense Ratio Comparison
FAUG has a 0.85% expense ratio, which is higher than DBE's 0.78% expense ratio.
Dividends
FAUG vs. DBE - Dividend Comparison
FAUG has not paid dividends to shareholders, while DBE's dividend yield for the trailing twelve months is around 2.29%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.29% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% |
FAUG FT Cboe Vest U.S. Equity Buffer ETF - August | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FAUG and DBE have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBE has higher volatility (11.68%) compared to FAUG (1.26%). In terms of maximum drawdown, FAUG dropped -22.33% vs DBE's -86.69%.
On 5-year performance, DBE leads with 17.10% vs 8.98% for FAUG. On fees, DBE is cheaper at 0.78% per year. On volatility, FAUG has been the lower-risk option at 1.26%. 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 17.10% return vs 8.98%. 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 0.85% for FAUG.
DBE has the higher dividend yield at 2.29%, compared with 0.00% for FAUG.
FAUG is categorized as Defined Outcome, while DBE is Oil & Gas. FAUG tracks Cboe S&P 500 Buffer Protect Index August, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: First Trust and Invesco. Their fees differ too: 0.85% for FAUG and 0.78% for DBE.
FAUG currently has the higher Sharpe Ratio (2.12 vs 1.61), 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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