GCOR vs. DBE
GCOR (Goldman Sachs Access U.S. Aggregate Bond ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - GCOR is a Intermediate Core Bond fund tracking the FTSE Goldman Sachs US Broad Bond Market Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 5 years, GCOR returned -0.24%/yr vs 19.66%/yr for DBE. At a correlation of -0.16, they often move in opposite directions. GCOR charges 0.08%/yr vs 0.78%/yr for DBE.
Performance
GCOR vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, GCOR achieves a 0.16% return, which is significantly lower than DBE's 83.68% return.
GCOR
- 1D
- -0.23%
- 1M
- 0.17%
- YTD
- 0.16%
- 6M
- 0.01%
- 1Y
- 4.97%
- 3Y*
- 3.71%
- 5Y*
- -0.24%
- 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%
GCOR vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GCOR Goldman Sachs Access U.S. Aggregate Bond ETF | 0.16% | 7.22% | 0.51% | 5.79% | -13.83% | -1.88% | 0.39% |
DBE Invesco DB Energy Fund | 83.68% | -2.17% | 2.96% | -12.14% | 33.77% | 57.56% | 18.30% |
Correlation
The correlation between GCOR 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 | -0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.16 |
Correlation (All Time) Calculated using the full available price history since Sep 11, 2020 | -0.16 |
Over the past year, the inverse relationship between GCOR and DBE has strengthened: their correlation has moved from -0.16 to -0.42, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
GCOR vs. DBE — Risk / Return Rank
GCOR
DBE
GCOR vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Access U.S. Aggregate Bond ETF (GCOR) 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.
| GCOR | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.93 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.40 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.77 | 5.89 | -4.12 |
| Martin ratioReturn relative to average drawdown | 5.42 | 11.53 | -6.11 |
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
| GCOR | DBE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.37 | 2.43 | -1.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.04 | 0.67 | -0.71 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.43 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.10 | 0.09 | -0.19 |
Drawdowns
GCOR vs. DBE - Drawdown Comparison
The maximum GCOR drawdown since its inception was -18.94%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for GCOR and DBE.
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Drawdown Indicators
| GCOR | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.94% | -86.69% | +67.75% |
Max Drawdown (1Y)Largest decline over 1 year | -2.82% | -14.41% | +11.59% |
Max Drawdown (3Y)Largest decline over 3 years | -6.09% | -23.89% | +17.80% |
Max Drawdown (5Y)Largest decline over 5 years | -18.63% | -38.74% | +20.11% |
Max Drawdown (10Y)Largest decline over 10 years | — | -60.84% | — |
Current DrawdownCurrent decline from peak | -3.52% | -30.27% | +26.75% |
Average DrawdownAverage peak-to-trough decline | -7.99% | -57.31% | +49.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 7.35% | -6.43% |
Volatility
GCOR vs. DBE - Volatility Comparison
The current volatility for Goldman Sachs Access U.S. Aggregate Bond ETF (GCOR) is 1.27%, while Invesco DB Energy Fund (DBE) has a volatility of 12.95%. This indicates that GCOR 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
| GCOR | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.27% | 12.95% | -11.68% |
Volatility (6M)Calculated over the trailing 6-month period | 2.65% | 30.86% | -28.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.65% | 34.97% | -31.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.81% | 29.39% | -23.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.52% | 28.33% | -22.81% |
GCOR vs. DBE - Expense Ratio Comparison
GCOR has a 0.08% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
GCOR vs. DBE - Dividend Comparison
GCOR's dividend yield for the trailing twelve months is around 4.17%, 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% |
GCOR Goldman Sachs Access U.S. Aggregate Bond ETF | 4.17% | 4.03% | 4.36% | 3.67% | 2.11% | 0.92% | 0.24% | 0.00% | 0.00% |
Frequently Asked Questions
GCOR 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 GCOR (1.27%). In terms of maximum drawdown, GCOR dropped -18.94% vs DBE's -86.69%.
On 5-year performance, DBE leads with 19.66% vs -0.24% for GCOR. On fees, GCOR is cheaper at 0.08% per year. On volatility, GCOR has been the lower-risk option at 1.27%. 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 -0.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GCOR is cheaper with a 0.08% expense ratio, compared with 0.78% for DBE.
GCOR has the higher dividend yield at 4.17%, compared with 2.10% for DBE.
GCOR is categorized as Intermediate Core Bond, while DBE is Oil & Gas. GCOR tracks FTSE Goldman Sachs US Broad Bond Market Index, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: Goldman Sachs and Invesco. Their fees differ too: 0.08% for GCOR and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (2.43 vs 1.37), 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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