IRVH vs. DBE
IRVH (Global X Interest Rate Volatility & Inflation Hedge ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - IRVH is a Inflation-Protected Bonds fund actively managed by Global X, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. IRVH is actively managed, while DBE is passively managed. Over the past 3 years, IRVH returned -0.42%/yr vs 15.22%/yr for DBE. Their -0.05 correlation means they have often moved in opposite directions in the past. IRVH charges 0.50%/yr vs 0.78%/yr for DBE.
Performance
IRVH vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, IRVH achieves a -4.64% return, which is significantly lower than DBE's 71.26% return.
IRVH
- 1D
- -0.06%
- 1M
- -0.73%
- 6M
- -4.05%
- YTD
- -4.64%
- 1Y
- -3.63%
- 3Y*
- -0.42%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -2.20%
DBE
- 1D
- -4.26%
- 1M
- 15.98%
- 6M
- 57.84%
- YTD
- 71.26%
- 1Y
- 61.44%
- 3Y*
- 15.22%
- 5Y*
- 17.82%
- 10Y*
- 12.24%
- ALL TIME*
- 2.29%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.27M | $1.08M | $1.67M | |
| $459.76 | $1.90K | $4.28K |
IRVH vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
IRVH Global X Interest Rate Volatility & Inflation Hedge ETF | -4.64% | 7.71% | -5.49% | 0.83% | -6.69% |
DBE Invesco DB Energy Fund | 71.26% | -2.17% | 2.96% | -12.14% | -6.40% |
Correlation
The correlation between IRVH and DBE is -0.10, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.10 |
Correlation (3Y) Balances recent behavior with more history. | -0.09 |
Correlation (All Time) Calculated using the full available price history since Jul 6, 2022 | -0.05 |
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Return for Risk
IRVH vs. DBE — Risk / Return Rank
IRVH
DBE
IRVH vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Interest Rate Volatility & Inflation Hedge ETF (IRVH) 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.
| IRVH | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.43 | ||
| Sortino ratioReturn per unit of downside risk | -3.29 | ||
| Omega ratioGain probability vs. loss probability | 0.88 | 1.28 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.56 | 2.50 | -3.06 |
| Martin ratioReturn relative to average drawdown | -1.11 | 7.82 | -8.92 |
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Drawdowns
IRVH vs. DBE - Drawdown Comparison
The maximum IRVH drawdown since its inception was -14.98%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for IRVH and DBE.
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Drawdown Indicators
| IRVH | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.98% | -86.69% | +71.71% |
Max Drawdown (1Y)Largest decline over 1 year | -6.48% | -24.72% | +18.24% |
Max Drawdown (3Y)Largest decline over 3 years | -8.03% | -24.72% | +16.69% |
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 | -11.54% | -34.98% | +23.44% |
Average DrawdownAverage peak-to-trough decline | -9.76% | -57.13% | +47.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.28% | 7.90% | -4.62% |
Volatility
IRVH vs. DBE - Volatility Comparison
The current volatility for Global X Interest Rate Volatility & Inflation Hedge ETF (IRVH) is 0.82%, while Invesco DB Energy Fund (DBE) has a volatility of 15.07%. This indicates that IRVH 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
| IRVH | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.82% | 15.07% | -14.25% |
Volatility (6M)Calculated over the trailing 6-month period | 3.18% | 34.26% | -31.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.63% | 37.66% | -33.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.69% | 30.15% | -21.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.69% | 28.60% | -19.91% |
IRVH vs. DBE - Expense Ratio Comparison
IRVH has a 0.50% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
IRVH vs. DBE - Dividend Comparison
IRVH's dividend yield for the trailing twelve months is around 5.72%, more than DBE's 2.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.26% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% |
IRVH Global X Interest Rate Volatility & Inflation Hedge ETF | 5.72% | 4.89% | 3.34% | 3.69% | 2.73% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IRVH and DBE have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBE has higher volatility (15.07%) compared to IRVH (0.82%). In terms of maximum drawdown, IRVH dropped -14.98% vs DBE's -86.69%.
On 3-year performance, DBE leads with 15.22% vs -0.42% for IRVH. On fees, IRVH is cheaper at 0.50% per year. On volatility, IRVH has been the lower-risk option at 0.82%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, DBE has performed better with a 15.22% return vs -0.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IRVH is cheaper with a 0.50% expense ratio, compared with 0.78% for DBE.
IRVH has the higher dividend yield at 5.72%, compared with 2.26% for DBE.
IRVH is categorized as Inflation-Protected Bonds, while DBE is Oil & Gas. They also come from different issuers: Global X and Invesco. Their fees differ too: 0.50% for IRVH and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (1.64 vs -0.79), 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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