INDL vs. DBE
INDL (Direxion Daily India Bull 3x Shares) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - INDL is a Leveraged Equities fund tracking the Indus India Index (300%), while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 10 years, INDL returned -1.36%/yr vs 11.15%/yr for DBE. At a 0.20 correlation, their price movements are largely independent. INDL charges 1.33%/yr vs 0.78%/yr for DBE.
Performance
INDL vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, INDL achieves a -22.25% return, which is significantly lower than DBE's 66.08% return. Over the past 10 years, INDL has underperformed DBE with an annualized return of -1.36%, while DBE has yielded a comparatively higher 11.15% annualized return.
INDL
- 1D
- -1.98%
- 1M
- 1.46%
- 6M
- -20.32%
- YTD
- -22.25%
- 1Y
- -27.15%
- 3Y*
- -1.87%
- 5Y*
- -1.43%
- 10Y*
- -1.36%
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%
INDL vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
INDL Direxion Daily India Bull 3x Shares | -22.25% | -3.21% | 7.56% | 26.06% | -22.88% | 40.26% | -36.43% | 3.15% | -34.29% | 127.98% |
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 INDL and DBE is -0.38, 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 | -0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Mar 11, 2010 | 0.20 |
The correlation between INDL and DBE shifts across timeframes, from -0.38 (1 year) to 0.20 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
INDL vs. DBE — Risk / Return Rank
INDL
DBE
INDL vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Direxion Daily India Bull 3x Shares (INDL) 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.
| INDL | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.39 | ||
| Sortino ratioReturn per unit of downside risk | -3.35 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.26 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.75 | 2.16 | -2.92 |
| Martin ratioReturn relative to average drawdown | -1.50 | 6.57 | -8.06 |
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Drawdowns
INDL vs. DBE - Drawdown Comparison
The maximum INDL drawdown since its inception was -95.67%, which is greater than DBE's maximum drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for INDL and DBE.
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Drawdown Indicators
| INDL | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.67% | -86.69% | -8.98% |
Max Drawdown (1Y)Largest decline over 1 year | -36.19% | -24.72% | -11.47% |
Max Drawdown (3Y)Largest decline over 3 years | -47.64% | -24.72% | -22.92% |
Max Drawdown (5Y)Largest decline over 5 years | -47.64% | -38.74% | -8.90% |
Max Drawdown (10Y)Largest decline over 10 years | -91.96% | -60.84% | -31.12% |
Current DrawdownCurrent decline from peak | -78.11% | -36.95% | -41.16% |
Average DrawdownAverage peak-to-trough decline | -66.41% | -57.20% | -9.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.17% | 8.13% | +10.04% |
Volatility
INDL vs. DBE - Volatility Comparison
The current volatility for Direxion Daily India Bull 3x Shares (INDL) is 9.07%, while Invesco DB Energy Fund (DBE) has a volatility of 12.49%. This indicates that INDL 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
| INDL | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.07% | 12.49% | -3.42% |
Volatility (6M)Calculated over the trailing 6-month period | 26.34% | 32.73% | -6.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.24% | 36.03% | -5.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.78% | 29.89% | +0.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 52.40% | 28.40% | +24.00% |
INDL vs. DBE - Expense Ratio Comparison
INDL has a 1.33% expense ratio, which is higher than DBE's 0.78% expense ratio.
Dividends
INDL vs. DBE - Dividend Comparison
INDL's dividend yield for the trailing twelve months is around 1.44%, less than DBE's 2.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
INDL Direxion Daily India Bull 3x Shares | 1.44% | 1.42% | 2.79% | 1.65% | 0.09% | 2.35% | 0.00% | 0.68% | 0.18% | 0.31% |
Frequently Asked Questions
INDL and DBE have a correlation of -0.38, 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 INDL (9.07%). In terms of maximum drawdown, INDL dropped -95.67% vs DBE's -86.69%.
On 10-year performance, DBE leads with 11.15% vs -1.36% for INDL. On fees, DBE is cheaper at 0.78% per year. On volatility, INDL has been the lower-risk option at 9.07%. 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 -1.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DBE is cheaper with a 0.78% expense ratio, compared with 1.33% for INDL.
DBE has the higher dividend yield at 2.33%, compared with 1.44% for INDL.
INDL is categorized as Leveraged Equities, while DBE is Oil & Gas. INDL tracks Indus India Index (300%), while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: Direxion and Invesco. Their fees differ too: 1.33% for INDL and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (1.49 vs -0.90), 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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