FTMN vs. DBE

Last updated Jun 4, 2026

FTMN (Franklin Minnesota Municipal Income ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - FTMN is a Municipal Bonds fund tracking the Actively Managed, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. At a correlation of -0.34, they often move in opposite directions. FTMN charges 0.35%/yr vs 0.78%/yr for DBE.

Performance

FTMN vs. DBE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Minnesota Municipal Income ETF (FTMN) and Invesco DB Energy Fund (DBE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTMN achieves a 1.52% return, which is significantly lower than DBE's 83.68% return.

FTMN

• 1D: -0.06%
• 1M: 0.55%
• YTD: 1.52%
• 6M: 2.03%
• 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%

*Multi-year figures are annualized to reflect compound growth (CAGR)

FTMN vs. DBE - Yearly Performance Comparison

	2026 (YTD)	2025
FTMN Franklin Minnesota Municipal Income ETF	1.52%	0.61%
DBE Invesco DB Energy Fund	83.68%	-6.28%

Correlation

The correlation between FTMN and DBE is -0.34, 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 Nov 11, 2025	-0.34

Return for Risk

FTMN vs. DBE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DBE

DBE Risk / Return Rank: 71
DBE Sharpe Ratio Rank: 74
DBE Sortino Ratio Rank: 63
DBE Omega Ratio Rank: 65
DBE Calmar Ratio Rank: 91
DBE Martin Ratio Rank: 63

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FTMN vs. DBE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Minnesota Municipal Income ETF (FTMN) 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.

Sharpe Ratios by Period

	FTMN	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	0.94	0.09	+0.85

Drawdowns

FTMN vs. DBE - Drawdown Comparison

The maximum FTMN drawdown since its inception was -3.10%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for FTMN and DBE.

Drawdown Indicators

	FTMN	DBE	Difference
Max Drawdown Largest peak-to-trough decline	-3.10%	-86.69%	+83.59%
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 Drawdown Current decline from peak	-0.41%	-30.27%	+29.86%
Average Drawdown Average peak-to-trough decline	-0.71%	-57.31%	+56.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.35%	—

Volatility

Volatility by Period

	FTMN	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	4.14%	34.97%	-30.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.14%	29.39%	-25.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.14%	28.33%	-24.19%

FTMN vs. DBE - Expense Ratio Comparison

FTMN has a 0.35% expense ratio, which is lower than DBE's 0.78% expense ratio.

Dividends

FTMN vs. DBE - Dividend Comparison

FTMN's dividend yield for the trailing twelve months is around 1.83%, less 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%
FTMN Franklin Minnesota Municipal Income ETF	1.83%	0.50%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FTMN and DBE in my portfolio?

FTMN and DBE have a correlation of -0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FTMN or DBE?

On fees, FTMN is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FTMN or DBE?

FTMN is cheaper with a 0.35% expense ratio, compared with 0.78% for DBE.

Which ETF pays a higher dividend yield, FTMN or DBE?

DBE has the higher dividend yield at 2.10%, compared with 1.83% for FTMN.

What is the main difference between FTMN and DBE?

FTMN is categorized as Municipal Bonds, while DBE is Oil & Gas. FTMN tracks Actively Managed, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: Franklin Templeton and Invesco. Their fees differ too: 0.35% for FTMN and 0.78% for DBE.