FLSA vs. DBE
FLSA (Franklin FTSE Saudi Arabia ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - FLSA is a Emerging Markets Equities fund tracking the FTSE Saudi Arabia RIC Capped Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 5 years, FLSA returned 2.65%/yr vs 19.66%/yr for DBE. At a 0.19 correlation, their price movements are largely independent. FLSA charges 0.39%/yr vs 0.78%/yr for DBE.
Performance
FLSA vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, FLSA achieves a 5.04% return, which is significantly lower than DBE's 83.68% return.
FLSA
- 1D
- -1.27%
- 1M
- -1.16%
- YTD
- 5.04%
- 6M
- 4.94%
- 1Y
- 4.24%
- 3Y*
- 0.78%
- 5Y*
- 2.65%
- 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%
FLSA vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FLSA Franklin FTSE Saudi Arabia ETF | 5.04% | -7.15% | -0.29% | 12.99% | -3.58% | 35.72% | 3.73% | 9.46% | 2.95% |
DBE Invesco DB Energy Fund | 83.68% | -2.17% | 2.96% | -12.14% | 33.77% | 57.56% | -25.91% | 19.72% | -28.05% |
Correlation
The correlation between FLSA and DBE is -0.16, 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 | -0.16 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Oct 12, 2018 | 0.19 |
The correlation between FLSA and DBE shifts across timeframes, from -0.16 (1 year) to 0.19 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FLSA vs. DBE — Risk / Return Rank
FLSA
DBE
FLSA vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE Saudi Arabia ETF (FLSA) 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.
| FLSA | DBE | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.26 | 2.43 | -2.17 |
Sortino ratioReturn per unit of downside risk | 0.55 | 2.96 | -2.41 |
Omega ratioGain probability vs. loss probability | 1.06 | 1.40 | -0.34 |
Calmar ratioReturn relative to maximum drawdown | 0.38 | 5.89 | -5.51 |
Martin ratioReturn relative to average drawdown | 0.85 | 11.53 | -10.68 |
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
| FLSA | DBE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.26 | 2.43 | -2.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.17 | 0.67 | -0.50 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.43 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.09 | +0.27 |
Drawdowns
FLSA vs. DBE - Drawdown Comparison
The maximum FLSA drawdown since its inception was -38.31%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for FLSA and DBE.
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Drawdown Indicators
| FLSA | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.31% | -86.69% | +48.38% |
Max Drawdown (1Y)Largest decline over 1 year | -11.30% | -14.41% | +3.11% |
Max Drawdown (3Y)Largest decline over 3 years | -14.95% | -23.89% | +8.94% |
Max Drawdown (5Y)Largest decline over 5 years | -27.25% | -38.74% | +11.49% |
Max Drawdown (10Y)Largest decline over 10 years | — | -60.84% | — |
Current DrawdownCurrent decline from peak | -15.86% | -30.27% | +14.41% |
Average DrawdownAverage peak-to-trough decline | -12.20% | -57.31% | +45.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.03% | 7.35% | -2.32% |
Volatility
FLSA vs. DBE - Volatility Comparison
The current volatility for Franklin FTSE Saudi Arabia ETF (FLSA) is 3.54%, while Invesco DB Energy Fund (DBE) has a volatility of 12.95%. This indicates that FLSA 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
| FLSA | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.54% | 12.95% | -9.41% |
Volatility (6M)Calculated over the trailing 6-month period | 12.08% | 30.86% | -18.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.40% | 34.97% | -18.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.72% | 29.39% | -13.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.41% | 28.33% | -8.92% |
FLSA vs. DBE - Expense Ratio Comparison
FLSA has a 0.39% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
FLSA vs. DBE - Dividend Comparison
FLSA's dividend yield for the trailing twelve months is around 3.82%, more than DBE's 2.10% yield.
| 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% |
FLSA Franklin FTSE Saudi Arabia ETF | 3.82% | 4.01% | 3.01% | 3.09% | 1.90% | 1.95% | 2.16% | 3.18% | 0.00% |
Frequently Asked Questions
FLSA and DBE have a correlation of -0.16, 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 FLSA (3.54%). In terms of maximum drawdown, FLSA dropped -38.31% vs DBE's -86.69%.
On 5-year performance, DBE leads with 19.66% vs 2.65% for FLSA. On fees, FLSA is cheaper at 0.39% per year. On volatility, FLSA has been the lower-risk option at 3.54%. 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 19.66% return vs 2.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLSA is cheaper with a 0.39% expense ratio, compared with 0.78% for DBE.
FLSA has the higher dividend yield at 3.82%, compared with 2.10% for DBE.
FLSA is categorized as Emerging Markets Equities, while DBE is Oil & Gas. FLSA tracks FTSE Saudi Arabia RIC Capped Index, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: Franklin Templeton and Invesco. Their fees differ too: 0.39% for FLSA and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (2.43 vs 0.26), 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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