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IHI vs. DBE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IHI vs. DBE

Last updated Jun 5, 2026

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 8.86%/yr vs 11.58%/yr for DBE. At a 0.17 correlation, their price movements are largely independent. IHI charges 0.43%/yr vs 0.78%/yr for DBE.

Performance

IHI vs. DBE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Medical Devices ETF (IHI) and Invesco DB Energy Fund (DBE). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IHI achieves a -19.70% return, which is significantly lower than DBE's 79.04% return. Over the past 10 years, IHI has underperformed DBE with an annualized return of 8.86%, while DBE has yielded a comparatively higher 11.58% annualized return.

IHI

1D
2.76%
1M
0.16%
YTD
-19.70%
6M
-21.09%
1Y
-19.03%
3Y*
-2.23%
5Y*
-1.96%
10Y*
8.86%

DBE

1D
-2.52%
1M
-6.01%
YTD
79.04%
6M
69.31%
1Y
81.31%
3Y*
22.41%
5Y*
19.05%
10Y*
11.58%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IHI vs. DBE - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IHI
iShares U.S. Medical Devices ETF		-19.70%6.88%8.62%3.24%-19.80%21.03%24.17%32.75%15.45%30.81%
DBE
Invesco DB Energy Fund		79.04%-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 -0.26, 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

-0.26

Correlation (3Y)
Calculated over the trailing 3-year period

-0.12

Correlation (5Y)
Calculated over the trailing 5-year period

-0.01

Correlation (10Y)
Calculated over the trailing 10-year period

0.08

Correlation (All Time)
Calculated using the full available price history since Jan 8, 2007

0.17

The correlation between IHI and DBE shifts across timeframes, from -0.26 (1 year) to 0.17 (all time), 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.

iShares U.S. Medical Devices ETF

Invesco DB Energy Fund

Often compared with IHI:
IHI vs. XLVIHI vs. VHTIHI vs. XHEIHI vs. SPYIHI vs. FHLCIHI vs. IHFIHI vs. IXJ
Often compared with DBE:
DBE vs. DBBDBE vs. XLEDBE vs. VDEDBE vs. XLKDBE vs. COMTDBE vs. GLDDBE vs. TIP

Return for Risk

IHI vs. DBE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IHI
IHI Risk / Return Rank: 11
Overall Rank
IHI Sharpe Ratio Rank: 11
Sharpe Ratio Rank
IHI Sortino Ratio Rank: 11
Sortino Ratio Rank
IHI Omega Ratio Rank: 22
Omega Ratio Rank
IHI Calmar Ratio Rank: 33
Calmar Ratio Rank
IHI Martin Ratio Rank: 00
Martin Ratio Rank
DBE
DBE Risk / Return Rank: 7171
Overall Rank
DBE Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
DBE Sortino Ratio Rank: 6262
Sortino Ratio Rank
DBE Omega Ratio Rank: 6565
Omega Ratio Rank
DBE Calmar Ratio Rank: 9191
Calmar Ratio Rank
DBE Martin Ratio Rank: 6262
Martin Ratio Rank
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.

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.

IHIDBEDifference
Sharpe ratioReturn per unit of total volatility
-1.13
2.33

-3.46

Sortino ratioReturn per unit of downside risk
-1.57
2.87

-4.43

Omega ratioGain probability vs. loss probability

0.83

1.39

-0.56

Calmar ratioReturn relative to maximum drawdown

-0.73

5.67

-6.41

Martin ratioReturn relative to average drawdown

-1.85

11.08

-12.93

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IHI vs. DBE - Sharpe Ratio Comparison

The current IHI Sharpe Ratio is -1.13, which is lower than the DBE Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of IHI 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.

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Sharpe Ratios by Period

IHIDBEDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

-1.13

2.33

-3.46

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

-0.10

0.65

-0.75

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.45

0.41

+0.04

Sharpe Ratio (All Time)

Calculated using the full available price history

0.47

0.09

+0.38

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

IHIDBEDifference

Max Drawdown

Largest peak-to-trough decline

-49.65%

-86.69%

+37.04%

Max Drawdown (1Y)

Largest decline over 1 year

-26.11%

-14.41%

-11.70%

Max Drawdown (3Y)

Largest decline over 3 years

-26.64%

-23.89%

-2.75%

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 Drawdown

Current decline from peak

-24.17%

-32.03%

+7.86%

Average Drawdown

Average peak-to-trough decline

-8.32%

-57.30%

+48.98%

Ulcer Index

Depth and duration of drawdowns from previous peaks

10.29%

7.37%

+2.92%

Volatility

IHI vs. DBE - Volatility Comparison

The current volatility for iShares U.S. Medical Devices ETF (IHI) is 7.01%, while Invesco DB Energy Fund (DBE) has a volatility of 13.05%. 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

IHIDBEDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.01%

13.05%

-6.04%

Volatility (6M)

Calculated over the trailing 6-month period

13.05%

30.97%

-17.92%

Volatility (1Y)

Calculated over the trailing 1-year period

16.96%

35.07%

-18.11%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.99%

29.41%

-10.42%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.79%

28.34%

-8.55%

IHI vs. DBE - Expense Ratio Comparison

IHI has a 0.43% 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 0.45%, less than DBE's 2.16% yield.

PositionTTM20252024202320222021202020192018201720162015
DBE
Invesco DB Energy Fund		2.16%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		0.45%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 -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DBE has higher volatility (13.05%) compared to IHI (7.01%). In terms of maximum drawdown, IHI dropped -49.65% vs DBE's -86.69%.

On 10-year performance, DBE leads with 11.58% vs 8.86% for IHI. On fees, IHI is cheaper at 0.43% per year. On volatility, IHI has been the lower-risk option at 7.01%. 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 11.58% return vs 8.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IHI is cheaper with a 0.43% expense ratio, compared with 0.78% for DBE.

DBE has the higher dividend yield at 2.16%, compared with 0.45% 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: 0.43% for IHI and 0.78% for DBE.

DBE currently has the higher Sharpe Ratio (2.33 vs -1.13), 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.

Portfolio Optimizer

Find the right allocation for IHI and DBE

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