GOAU vs. DBE
GOAU (US Global GO GOLD and Precious Metal Miners ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - GOAU is a Gold fund tracking the U.S. Global GO GOLD and Precious Metal Miners Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 5 years, GOAU returned 14.67%/yr vs 17.10%/yr for DBE. At a 0.09 correlation, their price movements are largely independent. GOAU charges 0.60%/yr vs 0.78%/yr for DBE.
Performance
GOAU vs. DBE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GOAU achieves a -16.89% return, which is significantly lower than DBE's 68.39% return.
GOAU
- 1D
- -2.91%
- 1M
- -16.53%
- 6M
- -26.53%
- YTD
- -16.89%
- 1Y
- 22.68%
- 3Y*
- 27.55%
- 5Y*
- 14.67%
- 10Y*
- —
DBE
- 1D
- -1.09%
- 1M
- 6.25%
- 6M
- 65.69%
- YTD
- 68.39%
- 1Y
- 57.64%
- 3Y*
- 17.96%
- 5Y*
- 17.10%
- 10Y*
- 11.45%
GOAU vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GOAU US Global GO GOLD and Precious Metal Miners ETF | -16.89% | 126.68% | 13.78% | 10.67% | -11.66% | -9.23% | 14.13% | 54.17% | -11.88% | 7.81% |
DBE Invesco DB Energy Fund | 68.39% | -2.17% | 2.96% | -12.14% | 33.77% | 57.56% | -25.91% | 19.72% | -12.95% | 29.62% |
Correlation
The correlation between GOAU and DBE is -0.23, 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 | -0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2017 | 0.09 |
The correlation between GOAU and DBE shifts across timeframes, from -0.23 (1 year) to 0.10 (5 years), 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.
Return for Risk
GOAU vs. DBE — Risk / Return Rank
GOAU
DBE
GOAU vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for US Global GO GOLD and Precious Metal Miners ETF (GOAU) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| GOAU | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.14 | ||
| Sortino ratioReturn per unit of downside risk | -1.31 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.28 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 0.61 | 2.34 | -1.73 |
| Martin ratioReturn relative to average drawdown | 1.37 | 7.00 | -5.63 |
Loading charts...
Drawdowns
GOAU vs. DBE - Drawdown Comparison
The maximum GOAU drawdown since its inception was -55.41%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for GOAU and DBE.
Loading charts...
Drawdown Indicators
| GOAU | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.41% | -86.69% | +31.28% |
Max Drawdown (1Y)Largest decline over 1 year | -37.09% | -24.72% | -12.37% |
Max Drawdown (3Y)Largest decline over 3 years | -37.09% | -24.72% | -12.37% |
Max Drawdown (5Y)Largest decline over 5 years | -48.52% | -38.74% | -9.78% |
Max Drawdown (10Y)Largest decline over 10 years | — | -60.84% | — |
Current DrawdownCurrent decline from peak | -37.09% | -36.07% | -1.02% |
Average DrawdownAverage peak-to-trough decline | -18.98% | -57.19% | +38.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.58% | 8.26% | +8.32% |
Volatility
GOAU vs. DBE - Volatility Comparison
US Global GO GOLD and Precious Metal Miners ETF (GOAU) and Invesco DB Energy Fund (DBE) have volatilities of 11.98% and 11.68%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| GOAU | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.98% | 11.68% | +0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 39.57% | 32.70% | +6.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 48.15% | 35.99% | +12.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.12% | 29.88% | +7.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.79% | 28.39% | +7.40% |
GOAU vs. DBE - Expense Ratio Comparison
GOAU has a 0.60% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
GOAU vs. DBE - Dividend Comparison
GOAU's dividend yield for the trailing twelve months is around 1.13%, less than DBE's 2.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.29% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% | 0.00% |
GOAU US Global GO GOLD and Precious Metal Miners ETF | 1.13% | 0.94% | 2.11% | 0.99% | 1.55% | 1.28% | 0.74% | 0.16% | 0.47% | 0.27% |
Frequently Asked Questions
GOAU and DBE have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GOAU has higher volatility (11.98%) compared to DBE (11.68%). In terms of maximum drawdown, GOAU dropped -55.41% vs DBE's -86.69%.
On 5-year performance, DBE leads with 17.10% vs 14.67% for GOAU. On fees, GOAU is cheaper at 0.60% per year. On volatility, DBE has been the lower-risk option at 11.68%. 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 17.10% return vs 14.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GOAU is cheaper with a 0.60% expense ratio, compared with 0.78% for DBE.
DBE has the higher dividend yield at 2.29%, compared with 1.13% for GOAU.
GOAU is categorized as Gold, while DBE is Oil & Gas. GOAU tracks U.S. Global GO GOLD and Precious Metal Miners Index, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: US Global and Invesco. Their fees differ too: 0.60% for GOAU and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (1.61 vs 0.47), 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.
Find the right allocation for GOAU and DBE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer