FCVT vs. DBE
FCVT (First Trust SSI Strategic Convertible Securities ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - FCVT is a Preferred Stock/Convertible Bonds fund actively managed by First Trust, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. FCVT is actively managed, while DBE is passively managed. Over the past 10 years, FCVT returned 12.36%/yr vs 12.03%/yr for DBE. At a 0.15 correlation, their price movements are largely independent. FCVT charges 0.95%/yr vs 0.78%/yr for DBE.
Performance
FCVT vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, FCVT achieves a 25.61% return, which is significantly lower than DBE's 83.68% return. Both investments have delivered pretty close results over the past 10 years, with FCVT having a 12.36% annualized return and DBE not far behind at 12.03%.
FCVT
- 1D
- -1.20%
- 1M
- 7.08%
- YTD
- 25.61%
- 6M
- 25.00%
- 1Y
- 47.07%
- 3Y*
- 21.35%
- 5Y*
- 7.58%
- 10Y*
- 12.36%
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%
FCVT vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FCVT First Trust SSI Strategic Convertible Securities ETF | 25.61% | 19.60% | 11.92% | 7.12% | -20.88% | 4.23% | 51.02% | 22.30% | -2.28% | 12.66% |
DBE Invesco DB Energy Fund | 83.68% | -2.17% | 2.96% | -12.14% | 33.77% | 57.56% | -25.91% | 19.72% | -12.95% | 5.21% |
Correlation
The correlation between FCVT and DBE is -0.23, 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 | -0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Nov 5, 2015 | 0.15 |
The correlation between FCVT and DBE shifts across timeframes, from -0.23 (1 year) to 0.16 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
FCVT vs. DBE — Risk / Return Rank
FCVT
DBE
FCVT vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust SSI Strategic Convertible Securities ETF (FCVT) 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.
| FCVT | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.54 | ||
| Sortino ratioReturn per unit of downside risk | +0.81 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.40 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 5.58 | 5.89 | -0.31 |
| Martin ratioReturn relative to average drawdown | 20.90 | 11.53 | +9.37 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FCVT | DBE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.97 | 2.43 | +0.54 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.54 | 0.67 | -0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.83 | 0.43 | +0.41 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.68 | 0.09 | +0.59 |
Drawdowns
FCVT vs. DBE - Drawdown Comparison
The maximum FCVT drawdown since its inception was -31.79%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for FCVT and DBE.
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Drawdown Indicators
| FCVT | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.79% | -86.69% | +54.90% |
Max Drawdown (1Y)Largest decline over 1 year | -8.47% | -14.41% | +5.94% |
Max Drawdown (3Y)Largest decline over 3 years | -15.06% | -23.89% | +8.83% |
Max Drawdown (5Y)Largest decline over 5 years | -30.43% | -38.74% | +8.31% |
Max Drawdown (10Y)Largest decline over 10 years | -31.79% | -60.84% | +29.05% |
Current DrawdownCurrent decline from peak | -1.20% | -30.27% | +29.07% |
Average DrawdownAverage peak-to-trough decline | -10.36% | -57.31% | +46.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.26% | 7.35% | -5.09% |
Volatility
FCVT vs. DBE - Volatility Comparison
The current volatility for First Trust SSI Strategic Convertible Securities ETF (FCVT) is 6.07%, while Invesco DB Energy Fund (DBE) has a volatility of 12.95%. This indicates that FCVT 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
| FCVT | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.07% | 12.95% | -6.88% |
Volatility (6M)Calculated over the trailing 6-month period | 12.99% | 30.86% | -17.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.94% | 34.97% | -19.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.09% | 29.39% | -15.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.85% | 28.33% | -13.48% |
FCVT vs. DBE - Expense Ratio Comparison
FCVT has a 0.95% expense ratio, which is higher than DBE's 0.78% expense ratio.
Dividends
FCVT vs. DBE - Dividend Comparison
FCVT's dividend yield for the trailing twelve months is around 1.19%, less than DBE's 2.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.10% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% | 0.00% | 0.00% | 0.00% |
FCVT First Trust SSI Strategic Convertible Securities ETF | 1.19% | 1.98% | 1.30% | 1.76% | 3.71% | 23.07% | 1.72% | 1.60% | 1.85% | 2.18% | 1.88% | 0.59% |
Frequently Asked Questions
FCVT and DBE have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBE has higher volatility (12.95%) compared to FCVT (6.07%). In terms of maximum drawdown, FCVT dropped -31.79% vs DBE's -86.69%.
On 10-year performance, FCVT leads with 12.36% vs 12.03% for DBE. On fees, DBE is cheaper at 0.78% per year. On volatility, FCVT has been the lower-risk option at 6.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FCVT has performed better with a 12.36% return vs 12.03%. 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 0.95% for FCVT.
DBE has the higher dividend yield at 2.10%, compared with 1.19% for FCVT.
FCVT is categorized as Preferred Stock/Convertible Bonds, while DBE is Oil & Gas. They also come from different issuers: First Trust and Invesco. Their fees differ too: 0.95% for FCVT and 0.78% for DBE.
FCVT currently has the higher Sharpe Ratio (2.97 vs 2.43), 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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