IHI vs. DBE
IHI (iShares U.S. Medical Devices ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - IHI is a Health & Biotech Equities fund tracking the Dow Jones U.S. Select Medical Equipment Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 10 years, IHI returned 8.61%/yr vs 11.15%/yr for DBE. At a 0.16 correlation, their price movements are largely independent. IHI charges 0.38%/yr vs 0.78%/yr for DBE.
Performance
IHI vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, IHI achieves a -17.20% return, which is significantly lower than DBE's 66.08% return. Over the past 10 years, IHI has underperformed DBE with an annualized return of 8.61%, while DBE has yielded a comparatively higher 11.15% annualized return.
IHI
- 1D
- 0.00%
- 1M
- 3.52%
- 6M
- -18.57%
- YTD
- -17.20%
- 1Y
- -15.43%
- 3Y*
- -2.86%
- 5Y*
- -2.90%
- 10Y*
- 8.61%
DBE
- 1D
- 6.87%
- 1M
- -1.18%
- 6M
- 62.18%
- YTD
- 66.08%
- 1Y
- 53.22%
- 3Y*
- 17.13%
- 5Y*
- 16.54%
- 10Y*
- 11.15%
IHI vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IHI iShares U.S. Medical Devices ETF | -17.20% | 6.88% | 8.62% | 3.24% | -19.80% | 21.03% | 24.17% | 32.75% | 15.45% | 30.81% |
DBE Invesco DB Energy Fund | 66.08% | -2.17% | 2.96% | -12.14% | 33.77% | 57.56% | -25.91% | 19.72% | -12.95% | 5.21% |
Correlation
The correlation between IHI 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 (3Y) Calculated over the trailing 3-year period | -0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 2007 | 0.16 |
The correlation between IHI and DBE shifts across timeframes, from -0.24 (1 year) to 0.16 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IHI vs. DBE — Risk / Return Rank
IHI
DBE
IHI vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Medical Devices ETF (IHI) 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.
| IHI | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.34 | ||
| Sortino ratioReturn per unit of downside risk | -3.23 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.26 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | -0.59 | 2.16 | -2.76 |
| Martin ratioReturn relative to average drawdown | -1.25 | 6.57 | -7.82 |
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Drawdowns
IHI vs. DBE - Drawdown Comparison
The maximum IHI drawdown since its inception was -49.65%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for IHI and DBE.
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Drawdown Indicators
| IHI | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.65% | -86.69% | +37.04% |
Max Drawdown (1Y)Largest decline over 1 year | -26.11% | -24.72% | -1.39% |
Max Drawdown (3Y)Largest decline over 3 years | -26.64% | -24.72% | -1.92% |
Max Drawdown (5Y)Largest decline over 5 years | -33.12% | -38.74% | +5.62% |
Max Drawdown (10Y)Largest decline over 10 years | -33.25% | -60.84% | +27.59% |
Current DrawdownCurrent decline from peak | -21.82% | -36.95% | +15.13% |
Average DrawdownAverage peak-to-trough decline | -8.39% | -57.20% | +48.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.34% | 8.13% | +4.21% |
Volatility
IHI vs. DBE - Volatility Comparison
The current volatility for iShares U.S. Medical Devices ETF (IHI) is 7.03%, while Invesco DB Energy Fund (DBE) has a volatility of 12.49%. This indicates that IHI 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
| IHI | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.03% | 12.49% | -5.46% |
Volatility (6M)Calculated over the trailing 6-month period | 14.56% | 32.73% | -18.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.25% | 36.03% | -17.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.23% | 29.89% | -10.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.86% | 28.40% | -8.54% |
IHI vs. DBE - Expense Ratio Comparison
IHI has a 0.38% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
IHI vs. DBE - Dividend Comparison
IHI's dividend yield for the trailing twelve months is around 0.47%, less than DBE's 2.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.33% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% | 0.00% | 0.00% | 0.00% |
IHI iShares U.S. Medical Devices ETF | 0.47% | 0.34% | 0.46% | 0.53% | 0.45% | 0.25% | 0.25% | 0.33% | 0.26% | 0.37% | 0.55% | 1.28% |
Frequently Asked Questions
IHI 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.
DBE has higher volatility (12.49%) compared to IHI (7.03%). In terms of maximum drawdown, IHI dropped -49.65% vs DBE's -86.69%.
On 10-year performance, DBE leads with 11.15% vs 8.61% for IHI. On fees, IHI is cheaper at 0.38% per year. On volatility, IHI has been the lower-risk option at 7.03%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DBE has performed better with a 11.15% return vs 8.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IHI is cheaper with a 0.38% expense ratio, compared with 0.78% for DBE.
DBE has the higher dividend yield at 2.33%, compared with 0.47% for IHI.
IHI is categorized as Health & Biotech Equities, while DBE is Oil & Gas. IHI tracks Dow Jones U.S. Select Medical Equipment Index, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.38% for IHI and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (1.49 vs -0.85), 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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