GXDW vs. DBE
GXDW (Global X Dorsey Wright Thematic ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - GXDW is a Systematic Trend fund tracking the Nasdaq Dorsey Wright Thematic Rotation Total Return Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 5 years, GXDW returned -12.06%/yr vs 17.23%/yr for DBE. At a 0.13 correlation, their price movements are largely independent. GXDW charges 0.50%/yr vs 0.78%/yr for DBE.
Performance
GXDW vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, GXDW achieves a 1.70% return, which is significantly lower than DBE's 69.05% return.
GXDW
- 1D
- 1.18%
- 1M
- -11.94%
- 6M
- -5.62%
- YTD
- 1.70%
- 1Y
- -4.05%
- 3Y*
- -4.23%
- 5Y*
- -12.06%
- 10Y*
- —
DBE
- 1D
- 1.79%
- 1M
- 0.60%
- 6M
- 61.38%
- YTD
- 69.05%
- 1Y
- 57.89%
- 3Y*
- 17.83%
- 5Y*
- 17.23%
- 10Y*
- 11.34%
GXDW vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
GXDW Global X Dorsey Wright Thematic ETF | 1.70% | 3.52% | -3.55% | 10.26% | -48.08% | 3.21% | 61.07% | 4.74% |
DBE Invesco DB Energy Fund | 69.05% | -2.17% | 2.96% | -12.14% | 33.77% | 57.56% | -25.91% | 5.93% |
Correlation
The correlation between GXDW and DBE is -0.19, 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 | -0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Nov 4, 2019 | 0.13 |
The correlation between GXDW and DBE shifts across timeframes, from -0.19 (1 year) to 0.13 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
GXDW vs. DBE — Risk / Return Rank
GXDW
DBE
GXDW vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Dorsey Wright Thematic ETF (GXDW) 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.
| GXDW | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.76 | ||
| Sortino ratioReturn per unit of downside risk | -2.21 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.28 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.17 | 2.35 | -2.52 |
| Martin ratioReturn relative to average drawdown | -0.36 | 7.10 | -7.46 |
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Drawdowns
GXDW vs. DBE - Drawdown Comparison
The maximum GXDW drawdown since its inception was -67.81%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for GXDW and DBE.
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Drawdown Indicators
| GXDW | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.81% | -86.69% | +18.88% |
Max Drawdown (1Y)Largest decline over 1 year | -24.65% | -24.72% | +0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -29.97% | -24.72% | -5.25% |
Max Drawdown (5Y)Largest decline over 5 years | -61.17% | -38.74% | -22.43% |
Max Drawdown (10Y)Largest decline over 10 years | — | -60.84% | — |
Current DrawdownCurrent decline from peak | -59.80% | -35.82% | -23.98% |
Average DrawdownAverage peak-to-trough decline | -43.27% | -57.19% | +13.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.33% | 8.17% | +3.16% |
Volatility
GXDW vs. DBE - Volatility Comparison
The current volatility for Global X Dorsey Wright Thematic ETF (GXDW) is 10.60%, while Invesco DB Energy Fund (DBE) has a volatility of 12.20%. This indicates that GXDW 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
| GXDW | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.60% | 12.20% | -1.60% |
Volatility (6M)Calculated over the trailing 6-month period | 23.42% | 32.74% | -9.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.44% | 35.99% | -6.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.39% | 29.88% | -1.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.92% | 28.40% | +1.52% |
GXDW vs. DBE - Expense Ratio Comparison
GXDW has a 0.50% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
GXDW vs. DBE - Dividend Comparison
GXDW's dividend yield for the trailing twelve months is around 1.47%, 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% |
GXDW Global X Dorsey Wright Thematic ETF | 1.47% | 1.40% | 1.08% | 1.99% | 1.48% | 1.56% | 0.48% | 0.31% | 0.00% |
Frequently Asked Questions
GXDW and DBE have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBE has higher volatility (12.20%) compared to GXDW (10.60%). In terms of maximum drawdown, GXDW dropped -67.81% vs DBE's -86.69%.
On 5-year performance, DBE leads with 17.23% vs -12.06% for GXDW. On fees, GXDW is cheaper at 0.50% per year. On volatility, GXDW has been the lower-risk option at 10.60%. 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 17.23% return vs -12.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GXDW is cheaper with a 0.50% expense ratio, compared with 0.78% for DBE.
DBE has the higher dividend yield at 2.29%, compared with 1.47% for GXDW.
GXDW is categorized as Systematic Trend, while DBE is Oil & Gas. GXDW tracks Nasdaq Dorsey Wright Thematic Rotation Total Return Index, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: Global X and Invesco. Their fees differ too: 0.50% for GXDW and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (1.62 vs -0.14), 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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