FLSW vs. DBE
FLSW (Franklin FTSE Switzerland ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - FLSW is a Europe Equities fund tracking the FTSE Switzerland 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, FLSW returned 6.80%/yr vs 19.66%/yr for DBE. At a 0.07 correlation, their price movements are largely independent. FLSW charges 0.09%/yr vs 0.78%/yr for DBE.
Performance
FLSW vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, FLSW achieves a 1.77% return, which is significantly lower than DBE's 83.68% return.
FLSW
- 1D
- -1.60%
- 1M
- 1.15%
- YTD
- 1.77%
- 6M
- 5.12%
- 1Y
- 13.32%
- 3Y*
- 11.58%
- 5Y*
- 6.80%
- 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%
FLSW vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FLSW Franklin FTSE Switzerland ETF | 1.77% | 32.92% | -1.77% | 16.79% | -18.14% | 20.82% | 13.25% | 31.66% | -7.85% |
DBE Invesco DB Energy Fund | 83.68% | -2.17% | 2.96% | -12.14% | 33.77% | 57.56% | -25.91% | 19.72% | -10.99% |
Correlation
The correlation between FLSW and DBE is -0.42, 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 | -0.42 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.04 |
Correlation (All Time) Calculated using the full available price history since Feb 9, 2018 | 0.07 |
The correlation between FLSW and DBE shifts across timeframes, from -0.42 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FLSW vs. DBE — Risk / Return Rank
FLSW
DBE
FLSW vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin FTSE Switzerland ETF (FLSW) 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.
| FLSW | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.57 | ||
| Sortino ratioReturn per unit of downside risk | -1.64 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.40 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 1.00 | 5.89 | -4.89 |
| Martin ratioReturn relative to average drawdown | 3.24 | 11.53 | -8.28 |
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
| FLSW | DBE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.86 | 2.43 | -1.57 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.44 | 0.67 | -0.24 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.43 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.09 | +0.46 |
Drawdowns
FLSW vs. DBE - Drawdown Comparison
The maximum FLSW drawdown since its inception was -28.16%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for FLSW and DBE.
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Drawdown Indicators
| FLSW | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.16% | -86.69% | +58.53% |
Max Drawdown (1Y)Largest decline over 1 year | -13.38% | -14.41% | +1.03% |
Max Drawdown (3Y)Largest decline over 3 years | -13.38% | -23.89% | +10.51% |
Max Drawdown (5Y)Largest decline over 5 years | -28.16% | -38.74% | +10.58% |
Max Drawdown (10Y)Largest decline over 10 years | — | -60.84% | — |
Current DrawdownCurrent decline from peak | -6.34% | -30.27% | +23.93% |
Average DrawdownAverage peak-to-trough decline | -5.96% | -57.31% | +51.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.11% | 7.35% | -3.24% |
Volatility
FLSW vs. DBE - Volatility Comparison
The current volatility for Franklin FTSE Switzerland ETF (FLSW) is 5.13%, while Invesco DB Energy Fund (DBE) has a volatility of 12.95%. This indicates that FLSW 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
| FLSW | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.13% | 12.95% | -7.82% |
Volatility (6M)Calculated over the trailing 6-month period | 12.16% | 30.86% | -18.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.55% | 34.97% | -19.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.71% | 29.39% | -13.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.89% | 28.33% | -11.44% |
FLSW vs. DBE - Expense Ratio Comparison
FLSW has a 0.09% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
FLSW vs. DBE - Dividend Comparison
FLSW's dividend yield for the trailing twelve months is around 2.08%, which matches 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% |
FLSW Franklin FTSE Switzerland ETF | 2.08% | 2.12% | 2.04% | 2.36% | 2.02% | 1.86% | 2.28% | 1.15% | 2.86% |
Frequently Asked Questions
FLSW and DBE have a correlation of -0.42, 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 FLSW (5.13%). In terms of maximum drawdown, FLSW dropped -28.16% vs DBE's -86.69%.
On 5-year performance, DBE leads with 19.66% vs 6.80% for FLSW. On fees, FLSW is cheaper at 0.09% per year. On volatility, FLSW has been the lower-risk option at 5.13%. 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 6.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLSW is cheaper with a 0.09% expense ratio, compared with 0.78% for DBE.
DBE has the higher dividend yield at 2.10%, compared with 2.08% for FLSW.
FLSW is categorized as Europe Equities, while DBE is Oil & Gas. FLSW tracks FTSE Switzerland 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: 0.09% for FLSW and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (2.43 vs 0.86), 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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