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FVC vs. DBE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FVC vs. DBE

Last updated Jun 4, 2026

FVC (First Trust Dorsey Wright Dynamic Focus 5 ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - FVC is a Hedge Fund fund tracking the Dorsey Wright Dynamic Focus Five Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 10 years, FVC returned 8.62%/yr vs 12.03%/yr for DBE. At a 0.22 correlation, their price movements are largely independent. FVC charges 0.71%/yr vs 0.78%/yr for DBE.

Performance

FVC vs. DBE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Dorsey Wright Dynamic Focus 5 ETF (FVC) and Invesco DB Energy Fund (DBE). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FVC achieves a 17.30% return, which is significantly lower than DBE's 83.68% return. Over the past 10 years, FVC has underperformed DBE with an annualized return of 8.62%, while DBE has yielded a comparatively higher 12.03% annualized return.

FVC

1D
1.40%
1M
11.30%
YTD
17.30%
6M
17.97%
1Y
23.41%
3Y*
10.91%
5Y*
4.98%
10Y*
8.62%

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)

FVC vs. DBE - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FVC
First Trust Dorsey Wright Dynamic Focus 5 ETF		17.30%2.12%12.43%-4.59%-6.03%21.92%12.71%19.28%-8.60%19.74%
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 FVC and DBE is -0.24, 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

-0.24

Correlation (3Y)
Calculated over the trailing 3-year period

-0.04

Correlation (5Y)
Calculated over the trailing 5-year period

0.16

Correlation (10Y)
Calculated over the trailing 10-year period

0.22

Correlation (All Time)
Calculated using the full available price history since Mar 21, 2016

0.22

The correlation between FVC and DBE shifts across timeframes, from -0.24 (1 year) to 0.22 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

First Trust Dorsey Wright Dynamic Focus 5 ETF

Invesco DB Energy Fund

Often compared with FVC:
FVC vs. FVFVC vs. QQQFVC vs. SPMOFVC vs. SCHGFVC vs. ARBFVC vs. MNAFVC vs. QTR
Often compared with DBE:
DBE vs. DBBDBE vs. XLEDBE vs. VDEDBE vs. COMTDBE vs. XLKDBE vs. GLDDBE vs. TIP

Return for Risk

FVC vs. DBE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FVC
FVC Risk / Return Rank: 4949
Overall Rank
FVC Sharpe Ratio Rank: 5353
Sharpe Ratio Rank
FVC Sortino Ratio Rank: 5353
Sortino Ratio Rank
FVC Omega Ratio Rank: 6161
Omega Ratio Rank
FVC Calmar Ratio Rank: 3636
Calmar Ratio Rank
FVC Martin Ratio Rank: 4343
Martin Ratio Rank
DBE
DBE Risk / Return Rank: 7171
Overall Rank
DBE Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
DBE Sortino Ratio Rank: 6363
Sortino Ratio Rank
DBE Omega Ratio Rank: 6565
Omega Ratio Rank
DBE Calmar Ratio Rank: 9191
Calmar Ratio Rank
DBE Martin Ratio Rank: 6363
Martin Ratio Rank
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.

FVC vs. DBE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Dorsey Wright Dynamic Focus 5 ETF (FVC) 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.

FVCDBEDifference
Sharpe ratioReturn per unit of total volatility
1.82
2.43

-0.61

Sortino ratioReturn per unit of downside risk
2.55
2.96

-0.41

Omega ratioGain probability vs. loss probability

1.37

1.40

-0.03

Calmar ratioReturn relative to maximum drawdown

1.77

5.89

-4.12

Martin ratioReturn relative to average drawdown

6.94

11.53

-4.59

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FVC vs. DBE - Sharpe Ratio Comparison

The current FVC Sharpe Ratio is 1.82, which is comparable to the DBE Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of FVC and DBE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

FVCDBEDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.82

2.43

-0.61

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.31

0.67

-0.37

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.49

0.43

+0.07

Sharpe Ratio (All Time)

Calculated using the full available price history

0.50

0.09

+0.40

Drawdowns

FVC vs. DBE - Drawdown Comparison

The maximum FVC drawdown since its inception was -30.96%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for FVC and DBE.

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Drawdown Indicators

FVCDBEDifference

Max Drawdown

Largest peak-to-trough decline

-30.96%

-86.69%

+55.73%

Max Drawdown (1Y)

Largest decline over 1 year

-13.32%

-14.41%

+1.09%

Max Drawdown (3Y)

Largest decline over 3 years

-14.75%

-23.89%

+9.14%

Max Drawdown (5Y)

Largest decline over 5 years

-22.62%

-38.74%

+16.12%

Max Drawdown (10Y)

Largest decline over 10 years

-30.96%

-60.84%

+29.88%

Current Drawdown

Current decline from peak

0.00%

-30.27%

+30.27%

Average Drawdown

Average peak-to-trough decline

-7.06%

-57.31%

+50.25%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.38%

7.35%

-3.97%

Volatility

FVC vs. DBE - Volatility Comparison

The current volatility for First Trust Dorsey Wright Dynamic Focus 5 ETF (FVC) is 4.29%, while Invesco DB Energy Fund (DBE) has a volatility of 12.95%. This indicates that FVC 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

FVCDBEDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.29%

12.95%

-8.66%

Volatility (6M)

Calculated over the trailing 6-month period

12.37%

30.86%

-18.49%

Volatility (1Y)

Calculated over the trailing 1-year period

12.94%

34.97%

-22.03%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.30%

29.39%

-13.09%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.61%

28.33%

-10.72%

FVC vs. DBE - Expense Ratio Comparison

FVC has a 0.71% expense ratio, which is lower than DBE's 0.78% expense ratio.

Dividends

FVC vs. DBE - Dividend Comparison

FVC's dividend yield for the trailing twelve months is around 1.92%, less than DBE's 2.10% yield.

PositionTTM2025202420232022202120202019201820172016
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%
FVC
First Trust Dorsey Wright Dynamic Focus 5 ETF		1.92%2.57%0.78%1.89%1.50%0.09%0.21%1.07%0.24%0.63%0.67%

Frequently Asked Questions

FVC and DBE have a correlation of -0.24, 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 FVC (4.29%). In terms of maximum drawdown, FVC dropped -30.96% vs DBE's -86.69%.

On 10-year performance, DBE leads with 12.03% vs 8.62% for FVC. On fees, FVC is cheaper at 0.71% per year. On volatility, FVC has been the lower-risk option at 4.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, DBE has performed better with a 12.03% return vs 8.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

FVC is cheaper with a 0.71% expense ratio, compared with 0.78% for DBE.

DBE has the higher dividend yield at 2.10%, compared with 1.92% for FVC.

FVC is categorized as Hedge Fund, while DBE is Oil & Gas. FVC tracks Dorsey Wright Dynamic Focus Five Index, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: First Trust and Invesco. Their fees differ too: 0.71% for FVC and 0.78% for DBE.

DBE currently has the higher Sharpe Ratio (2.43 vs 1.82), 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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