IBAT vs. DBE
IBAT (iShares Energy Storage & Materials ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - IBAT is a Alternative Energy Equities fund tracking the STOXX Global Energy Storage and Materials, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past year, IBAT returned 124.45% vs 84.41% for DBE. At a correlation of -0.03, they often move in opposite directions. IBAT charges 0.47%/yr vs 0.78%/yr for DBE.
Performance
IBAT vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, IBAT achieves a 64.52% return, which is significantly lower than DBE's 83.68% return.
IBAT
- 1D
- -1.22%
- 1M
- 10.03%
- YTD
- 64.52%
- 6M
- 57.93%
- 1Y
- 124.45%
- 3Y*
- —
- 5Y*
- —
- 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%
IBAT vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
IBAT iShares Energy Storage & Materials ETF | 64.52% | 32.09% | -13.19% |
DBE Invesco DB Energy Fund | 83.68% | -2.17% | -4.23% |
Correlation
The correlation between IBAT 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 (All Time) Calculated using the full available price history since Mar 22, 2024 | -0.03 |
Over the past year, the inverse relationship between IBAT and DBE has strengthened: their correlation has moved from -0.03 to -0.23, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
IBAT vs. DBE — Risk / Return Rank
IBAT
DBE
IBAT vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Energy Storage & Materials ETF (IBAT) 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.
| IBAT | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.32 | ||
| Sortino ratioReturn per unit of downside risk | +2.16 | ||
| Omega ratioGain probability vs. loss probability | 1.68 | 1.40 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 10.21 | 5.89 | +4.32 |
| Martin ratioReturn relative to average drawdown | 26.91 | 11.53 | +15.38 |
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
| IBAT | DBE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.75 | 2.43 | +2.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.67 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.43 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.41 | 0.09 | +1.32 |
Drawdowns
IBAT vs. DBE - Drawdown Comparison
The maximum IBAT drawdown since its inception was -28.26%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for IBAT and DBE.
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Drawdown Indicators
| IBAT | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.26% | -86.69% | +58.43% |
Max Drawdown (1Y)Largest decline over 1 year | -12.25% | -14.41% | +2.16% |
Max Drawdown (3Y)Largest decline over 3 years | — | -23.89% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -38.74% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -60.84% | — |
Current DrawdownCurrent decline from peak | -1.25% | -30.27% | +29.02% |
Average DrawdownAverage peak-to-trough decline | -7.74% | -57.31% | +49.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.64% | 7.35% | -2.71% |
Volatility
IBAT vs. DBE - Volatility Comparison
The current volatility for iShares Energy Storage & Materials ETF (IBAT) is 10.25%, while Invesco DB Energy Fund (DBE) has a volatility of 12.95%. This indicates that IBAT 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
| IBAT | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.25% | 12.95% | -2.70% |
Volatility (6M)Calculated over the trailing 6-month period | 20.28% | 30.86% | -10.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.35% | 34.97% | -8.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.83% | 29.39% | -5.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.83% | 28.33% | -4.50% |
IBAT vs. DBE - Expense Ratio Comparison
IBAT has a 0.47% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
IBAT vs. DBE - Dividend Comparison
IBAT's dividend yield for the trailing twelve months is around 0.70%, less 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% |
IBAT iShares Energy Storage & Materials ETF | 0.70% | 1.15% | 1.37% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IBAT 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.
DBE has higher volatility (12.95%) compared to IBAT (10.25%). In terms of maximum drawdown, IBAT dropped -28.26% vs DBE's -86.69%.
On 1-year performance, IBAT leads with 124.45% vs 84.41% for DBE. On fees, IBAT is cheaper at 0.47% per year. On volatility, IBAT has been the lower-risk option at 10.25%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBAT has performed better with a 124.45% return vs 84.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBAT is cheaper with a 0.47% expense ratio, compared with 0.78% for DBE.
DBE has the higher dividend yield at 2.10%, compared with 0.70% for IBAT.
IBAT is categorized as Alternative Energy Equities, while DBE is Oil & Gas. IBAT tracks STOXX Global Energy Storage and Materials, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.47% for IBAT and 0.78% for DBE.
IBAT currently has the higher Sharpe Ratio (4.75 vs 2.43), 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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