FMKT vs. DBE
FMKT (The Free Markets ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - FMKT is a Large Cap Blend Equities fund, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. FMKT is actively managed, while DBE is passively managed. At a correlation of -0.17, they often move in opposite directions. FMKT charges 0.76%/yr vs 0.78%/yr for DBE.
Performance
FMKT vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, FMKT achieves a 2.65% return, which is significantly lower than DBE's 83.68% return.
FMKT
- 1D
- -2.40%
- 1M
- -0.64%
- YTD
- 2.65%
- 6M
- 0.39%
- 1Y
- —
- 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%
FMKT vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FMKT The Free Markets ETF | 2.65% | 10.93% |
DBE Invesco DB Energy Fund | 83.68% | -0.96% |
Correlation
The correlation between FMKT and DBE is -0.17, 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 (All Time) Calculated using the full available price history since Jun 11, 2025 | -0.17 |
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Return for Risk
FMKT vs. DBE — Risk / Return Rank
FMKT
DBE
FMKT vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for The Free Markets ETF (FMKT) 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| FMKT | DBE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 2.43 | — |
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 | 0.73 | 0.09 | +0.63 |
Drawdowns
FMKT vs. DBE - Drawdown Comparison
The maximum FMKT drawdown since its inception was -17.79%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for FMKT and DBE.
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Drawdown Indicators
| FMKT | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.79% | -86.69% | +68.90% |
Max Drawdown (1Y)Largest decline over 1 year | — | -14.41% | — |
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 DrawdownCurrent decline from peak | -6.86% | -30.27% | +23.41% |
Average DrawdownAverage peak-to-trough decline | -5.25% | -57.31% | +52.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 7.35% | — |
Volatility
FMKT vs. DBE - Volatility Comparison
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Volatility by Period
| FMKT | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 12.95% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 30.86% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 19.59% | 34.97% | -15.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.59% | 29.39% | -9.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.59% | 28.33% | -8.74% |
FMKT vs. DBE - Expense Ratio Comparison
FMKT has a 0.76% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
FMKT vs. DBE - Dividend Comparison
FMKT's dividend yield for the trailing twelve months is around 2.10%, 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% |
FMKT The Free Markets ETF | 2.10% | 2.15% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FMKT and DBE have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FMKT is cheaper at 0.76% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FMKT is cheaper with a 0.76% expense ratio, compared with 0.78% for DBE.
FMKT and DBE have nearly identical dividend yields, around 2.10%.
FMKT is categorized as Large Cap Blend Equities, while DBE is Oil & Gas. Their fees differ too: 0.76% for FMKT and 0.78% for DBE.
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