IMVP vs. DBE
IMVP (Invesco India ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - IMVP is a Emerging Markets Equities fund tracking the FTSE India Quality and Yield Select Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 10 years, IMVP returned 8.19%/yr vs 12.03%/yr for DBE. At a 0.23 correlation, their price movements are largely independent. Both charge a 0.78% expense ratio.
Performance
IMVP vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, IMVP achieves a -16.08% return, which is significantly lower than DBE's 83.68% return. Over the past 10 years, IMVP has underperformed DBE with an annualized return of 8.19%, while DBE has yielded a comparatively higher 12.03% annualized return.
IMVP
- 1D
- -2.11%
- 1M
- -2.53%
- YTD
- -16.08%
- 6M
- -14.80%
- 1Y
- -16.87%
- 3Y*
- 2.95%
- 5Y*
- 2.42%
- 10Y*
- 8.19%
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%
IMVP vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IMVP Invesco India ETF | -16.08% | 1.30% | 9.07% | 22.82% | -9.35% | 23.68% | 18.41% | 14.26% | -7.55% | 38.51% |
DBE Invesco DB Energy Fund | 83.68% | -2.17% | 2.96% | -12.14% | 33.77% | 57.56% | -25.91% | 19.72% | -12.95% | 5.21% |
Correlation
The correlation between IMVP and DBE is -0.30, 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 | -0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Mar 6, 2008 | 0.23 |
The correlation between IMVP and DBE shifts across timeframes, from -0.30 (1 year) to 0.23 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
IMVP vs. DBE — Risk / Return Rank
IMVP
DBE
IMVP vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco India ETF (IMVP) 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.
| IMVP | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.48 | ||
| Sortino ratioReturn per unit of downside risk | -4.42 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.40 | -0.57 |
| Calmar ratioReturn relative to maximum drawdown | -0.79 | 5.89 | -6.68 |
| Martin ratioReturn relative to average drawdown | -1.84 | 11.53 | -13.37 |
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
| IMVP | DBE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.05 | 2.43 | -3.48 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.15 | 0.67 | -0.52 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | 0.43 | -0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 0.09 | +0.02 |
Drawdowns
IMVP vs. DBE - Drawdown Comparison
The maximum IMVP drawdown since its inception was -64.54%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for IMVP and DBE.
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Drawdown Indicators
| IMVP | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.54% | -86.69% | +22.15% |
Max Drawdown (1Y)Largest decline over 1 year | -21.44% | -14.41% | -7.03% |
Max Drawdown (3Y)Largest decline over 3 years | -25.80% | -23.89% | -1.91% |
Max Drawdown (5Y)Largest decline over 5 years | -25.80% | -38.74% | +12.94% |
Max Drawdown (10Y)Largest decline over 10 years | -39.69% | -60.84% | +21.15% |
Current DrawdownCurrent decline from peak | -23.71% | -30.27% | +6.56% |
Average DrawdownAverage peak-to-trough decline | -16.70% | -57.31% | +40.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.16% | 7.35% | +1.81% |
Volatility
IMVP vs. DBE - Volatility Comparison
The current volatility for Invesco India ETF (IMVP) is 6.00%, while Invesco DB Energy Fund (DBE) has a volatility of 12.95%. This indicates that IMVP 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
| IMVP | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.00% | 12.95% | -6.95% |
Volatility (6M)Calculated over the trailing 6-month period | 14.16% | 30.86% | -16.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.17% | 34.97% | -18.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.11% | 29.39% | -13.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.59% | 28.33% | -8.74% |
IMVP vs. DBE - Expense Ratio Comparison
Both IMVP and DBE have an expense ratio of 0.78%.
Dividends
IMVP vs. DBE - Dividend Comparison
IMVP's dividend yield for the trailing twelve months is around 8.81%, more than DBE's 2.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.10% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% | 0.00% | 0.00% | 0.00% |
IMVP Invesco India ETF | 8.81% | 7.39% | 8.48% | 2.08% | 14.07% | 6.95% | 0.72% | 36.35% | 0.96% | 1.01% | 1.18% | 0.61% |
Frequently Asked Questions
IMVP and DBE have a correlation of -0.30, 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 IMVP (6.00%). In terms of maximum drawdown, IMVP dropped -64.54% vs DBE's -86.69%.
On 10-year performance, DBE leads with 12.03% vs 8.19% for IMVP. Both ETFs have the same 0.78% expense ratio. On volatility, IMVP has been the lower-risk option at 6.00%. 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 12.03% return vs 8.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IMVP and DBE have the same expense ratio: 0.78% per year.
IMVP has the higher dividend yield at 8.81%, compared with 2.10% for DBE.
IMVP is categorized as Emerging Markets Equities, while DBE is Oil & Gas. IMVP tracks FTSE India Quality and Yield Select Index, while DBE tracks DBIQ Optimum Yield Energy Index.
DBE currently has the higher Sharpe Ratio (2.43 vs -1.05), 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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