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IYT vs. DBE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IYT vs. DBE

Last updated Jun 3, 2026

IYT (iShares Transportation Average ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - IYT is a Transportation Equities fund tracking the Dow Jones Transportation Average Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 10 years, IYT returned 10.51%/yr vs 11.78%/yr for DBE. At a 0.20 correlation, their price movements are largely independent. IYT charges 0.42%/yr vs 0.78%/yr for DBE.

Performance

IYT vs. DBE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Transportation Average ETF (IYT) 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, IYT achieves a 13.12% return, which is significantly lower than DBE's 79.50% return. Over the past 10 years, IYT has underperformed DBE with an annualized return of 10.51%, while DBE has yielded a comparatively higher 11.78% annualized return.

IYT

1D
-1.00%
1M
3.94%
YTD
13.12%
6M
15.04%
1Y
30.40%
3Y*
14.77%
5Y*
5.55%
10Y*
10.51%

DBE

1D
0.80%
1M
-3.65%
YTD
79.50%
6M
72.59%
1Y
82.31%
3Y*
22.48%
5Y*
19.20%
10Y*
11.78%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IYT vs. DBE - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IYT
iShares Transportation Average ETF		13.12%11.48%4.10%24.62%-21.74%26.41%14.20%20.11%-12.87%18.89%
DBE
Invesco DB Energy Fund		79.50%-2.17%2.96%-12.14%33.77%57.56%-25.91%19.72%-12.95%5.21%

Correlation

The correlation between IYT and DBE is -0.29, 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

-0.29

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

-0.08

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

0.07

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

0.16

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

0.20

The correlation between IYT and DBE shifts across timeframes, from -0.29 (1 year) to 0.20 (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 Transportation Average ETF

Invesco DB Energy Fund

Often compared with IYT:
IYT vs. XTNIYT vs. SPYIYT vs. FTXRIYT vs. QQQIYT vs. XLIIYT vs. UNPIYT vs. WBA
Often compared with DBE:
DBE vs. DBBDBE vs. XLEDBE vs. VDEDBE vs. COMTDBE vs. XLKDBE vs. GLDDBE vs. TIP

Return for Risk

IYT vs. DBE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IYT
IYT Risk / Return Rank: 4444
Overall Rank
IYT Sharpe Ratio Rank: 4343
Sharpe Ratio Rank
IYT Sortino Ratio Rank: 4242
Sortino Ratio Rank
IYT Omega Ratio Rank: 4040
Omega Ratio Rank
IYT Calmar Ratio Rank: 4949
Calmar Ratio Rank
IYT Martin Ratio Rank: 4848
Martin Ratio Rank
DBE
DBE Risk / Return Rank: 7171
Overall Rank
DBE Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
DBE Sortino Ratio Rank: 6161
Sortino Ratio Rank
DBE Omega Ratio Rank: 6464
Omega Ratio Rank
DBE Calmar Ratio Rank: 9292
Calmar Ratio Rank
DBE Martin Ratio Rank: 6565
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.

IYT vs. DBE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Transportation Average ETF (IYT) 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.

IYTDBEDifference

Sharpe ratio

Return per unit of total volatility

1.51

2.37

-0.86

Sortino ratio

Return per unit of downside risk

2.15

2.91

-0.75

Omega ratio

Gain probability vs. loss probability

1.26

1.39

-0.13

Calmar ratio

Return relative to maximum drawdown

2.47

6.10

-3.63

Martin ratio

Return relative to average drawdown

8.00

11.98

-3.98

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

IYT vs. DBE - Sharpe Ratio Comparison

The current IYT Sharpe Ratio is 1.51, which is lower than the DBE Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of IYT 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

IYTDBEDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.51

2.37

-0.86

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.25

0.66

-0.41

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.46

0.42

+0.04

Sharpe Ratio (All Time)

Calculated using the full available price history

0.42

0.09

+0.33

Drawdowns

IYT vs. DBE - Drawdown Comparison

The maximum IYT drawdown since its inception was -60.39%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for IYT and DBE.

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Drawdown Indicators

IYTDBEDifference

Max Drawdown

Largest peak-to-trough decline

-60.39%

-86.69%

+26.30%

Max Drawdown (1Y)

Largest decline over 1 year

-12.09%

-14.41%

+2.32%

Max Drawdown (3Y)

Largest decline over 3 years

-26.35%

-23.89%

-2.46%

Max Drawdown (5Y)

Largest decline over 5 years

-29.15%

-38.74%

+9.59%

Max Drawdown (10Y)

Largest decline over 10 years

-41.28%

-60.84%

+19.56%

Current Drawdown

Current decline from peak

-1.00%

-31.85%

+30.85%

Average Drawdown

Average peak-to-trough decline

-9.32%

-57.31%

+47.99%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.73%

7.34%

-3.61%

Volatility

IYT vs. DBE - Volatility Comparison

The current volatility for iShares Transportation Average ETF (IYT) is 7.34%, while Invesco DB Energy Fund (DBE) has a volatility of 13.47%. This indicates that IYT 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

IYTDBEDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.34%

13.47%

-6.13%

Volatility (6M)

Calculated over the trailing 6-month period

15.43%

30.80%

-15.37%

Volatility (1Y)

Calculated over the trailing 1-year period

20.17%

35.02%

-14.85%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.29%

29.37%

-7.08%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.15%

28.33%

-5.18%

IYT vs. DBE - Expense Ratio Comparison

IYT has a 0.42% expense ratio, which is lower than DBE's 0.78% expense ratio.

Dividends

IYT vs. DBE - Dividend Comparison

IYT's dividend yield for the trailing twelve months is around 0.95%, less than DBE's 2.15% yield.

PositionTTM20252024202320222021202020192018201720162015
DBE
Invesco DB Energy Fund		2.15%3.86%6.32%3.87%0.75%0.00%0.00%1.79%1.67%0.00%0.00%0.00%
IYT
iShares Transportation Average ETF		0.95%1.00%1.08%1.26%1.40%0.77%0.93%1.29%1.35%0.92%0.96%1.28%

Frequently Asked Questions

IYT and DBE have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DBE has higher volatility (13.47%) compared to IYT (7.34%). In terms of maximum drawdown, IYT dropped -60.39% vs DBE's -86.69%.

On 10-year performance, DBE leads with 11.78% vs 10.51% for IYT. On fees, IYT is cheaper at 0.42% per year. On volatility, IYT has been the lower-risk option at 7.34%. 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 11.78% return vs 10.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IYT is cheaper with a 0.42% expense ratio, compared with 0.78% for DBE.

DBE has the higher dividend yield at 2.15%, compared with 0.95% for IYT.

IYT is categorized as Transportation Equities, while DBE is Oil & Gas. IYT tracks Dow Jones Transportation Average Index, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.42% for IYT and 0.78% for DBE.

DBE currently has the higher Sharpe Ratio (2.37 vs 1.51), 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

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