GRPZ vs. DBE

Last updated Jul 17, 2026

GRPZ (Invesco S&P Smallcap 600 GARP ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - GRPZ is a Small Cap Growth Equities fund tracking the S&P SmallCap 600 GARP Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past year, GRPZ returned 30.97% vs 57.64% for DBE. At a correlation of -0.03, they often move in opposite directions. GRPZ charges 0.35%/yr vs 0.78%/yr for DBE.

Performance

GRPZ vs. DBE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P Smallcap 600 GARP ETF (GRPZ) 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, GRPZ achieves a 23.85% return, which is significantly lower than DBE's 68.39% return.

GRPZ

• 1D: 0.92%
• 1M: 7.28%
• 6M: 16.11%
• YTD: 23.85%
• 1Y: 30.97%
• 3Y*: —
• 5Y*: —
• 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%

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

GRPZ vs. DBE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GRPZ Invesco S&P Smallcap 600 GARP ETF	23.85%	3.09%	4.27%
DBE Invesco DB Energy Fund	68.39%	-2.17%	-3.80%

Correlation

The correlation between GRPZ 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 (All Time) Calculated using the full available price history since Mar 27, 2024	-0.03

Over the past year, the inverse relationship between GRPZ and DBE has strengthened: their correlation has moved from -0.03 to -0.24, meaning they now move in opposite directions more often than their long-term average.

Return for Risk

GRPZ vs. DBE — Risk / Return Rank

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

GRPZ

GRPZ Risk / Return Rank: 70
GRPZ Sharpe Ratio Rank: 69
GRPZ Sortino Ratio Rank: 75
GRPZ Omega Ratio Rank: 62
GRPZ Calmar Ratio Rank: 79
GRPZ Martin Ratio Rank: 66

DBE

DBE Risk / Return Rank: 57
DBE Sharpe Ratio Rank: 60
DBE Sortino Ratio Rank: 57
DBE Omega Ratio Rank: 55
DBE Calmar Ratio Rank: 58
DBE Martin Ratio Rank: 52

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.

GRPZ vs. DBE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P Smallcap 600 GARP ETF (GRPZ) 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.

	GRPZ	DBE	Difference
Sharpe ratio: Return per unit of total volatility	1.77	1.61	+0.17
Sortino ratio: Return per unit of downside risk	2.70	2.21	+0.49
Omega ratio: Gain probability vs. loss probability	1.30	1.28	+0.02
Calmar ratio: Return relative to maximum drawdown	3.27	2.34	+0.92
Martin ratio: Return relative to average drawdown	9.39	7.00	+2.39

GRPZ vs. DBE - Sharpe Ratio Comparison

The current GRPZ Sharpe Ratio is 1.77, which is comparable to the DBE Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of GRPZ 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.

Drawdowns

GRPZ vs. DBE - Drawdown Comparison

The maximum GRPZ drawdown since its inception was -27.87%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for GRPZ and DBE.

Drawdown Indicators

	GRPZ	DBE	Difference
Max Drawdown Largest peak-to-trough decline	-27.87%	-86.69%	+58.82%
Max Drawdown (1Y) Largest decline over 1 year	-9.53%	-24.72%	+15.19%
Max Drawdown (3Y) Largest decline over 3 years	—	-24.72%	—
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	0.00%	-36.07%	+36.07%
Average Drawdown Average peak-to-trough decline	-6.68%	-57.19%	+50.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.31%	8.26%	-4.95%

Volatility

GRPZ vs. DBE - Volatility Comparison

The current volatility for Invesco S&P Smallcap 600 GARP ETF (GRPZ) is 3.78%, while Invesco DB Energy Fund (DBE) has a volatility of 11.68%. This indicates that GRPZ 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.

Volatility by Period

	GRPZ	DBE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.78%	11.68%	-7.90%
Volatility (6M) Calculated over the trailing 6-month period	11.77%	32.70%	-20.93%
Volatility (1Y) Calculated over the trailing 1-year period	17.53%	35.99%	-18.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.87%	29.88%	-9.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.87%	28.39%	-7.52%

GRPZ vs. DBE - Expense Ratio Comparison

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

Dividends

GRPZ vs. DBE - Dividend Comparison

GRPZ's dividend yield for the trailing twelve months is around 0.87%, less than DBE's 2.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DBE Invesco DB Energy Fund	2.29%	3.86%	6.32%	3.87%	0.75%	0.00%	0.00%	1.79%	1.67%
GRPZ Invesco S&P Smallcap 600 GARP ETF	0.87%	0.97%	0.73%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GRPZ and DBE in my portfolio?

GRPZ 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.

Which is riskier, GRPZ or DBE?

DBE has higher volatility (11.68%) compared to GRPZ (3.78%). In terms of maximum drawdown, GRPZ dropped -27.87% vs DBE's -86.69%.

Which ETF is better, GRPZ or DBE?

On 1-year performance, DBE leads with 57.64% vs 30.97% for GRPZ. On fees, GRPZ is cheaper at 0.35% per year. On volatility, GRPZ has been the lower-risk option at 3.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GRPZ or DBE?

Over the 1-year period, DBE has performed better with a 57.64% return vs 30.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GRPZ or DBE?

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

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

DBE has the higher dividend yield at 2.29%, compared with 0.87% for GRPZ.

What is the main difference between GRPZ and DBE?

GRPZ is categorized as Small Cap Growth Equities, while DBE is Oil & Gas. GRPZ tracks S&P SmallCap 600 GARP Index, while DBE tracks DBIQ Optimum Yield Energy Index. Their fees differ too: 0.35% for GRPZ and 0.78% for DBE.

Which has better risk-adjusted returns?

GRPZ currently has the higher Sharpe Ratio (1.77 vs 1.61), 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.