KNCT vs. DBE
KNCT (Invesco Next Gen Connectivity ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - KNCT is a Technology Equities fund tracking the STOXX World AC NexGen Connectivity Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 10 years, KNCT returned 19.29%/yr vs 11.80%/yr for DBE. At a 0.21 correlation, their price movements are largely independent. KNCT charges 0.40%/yr vs 0.78%/yr for DBE.
Performance
KNCT vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, KNCT achieves a 40.44% return, which is significantly lower than DBE's 73.49% return. Over the past 10 years, KNCT has outperformed DBE with an annualized return of 19.29%, while DBE has yielded a comparatively lower 11.80% annualized return.
KNCT
- 1D
- -0.44%
- 1M
- -9.08%
- 6M
- 34.84%
- YTD
- 40.44%
- 1Y
- 61.66%
- 3Y*
- 33.73%
- 5Y*
- 17.45%
- 10Y*
- 19.29%
DBE
- 1D
- 3.03%
- 1M
- 10.58%
- 6M
- 68.61%
- YTD
- 73.49%
- 1Y
- 60.38%
- 3Y*
- 18.58%
- 5Y*
- 17.80%
- 10Y*
- 11.80%
KNCT vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
KNCT Invesco Next Gen Connectivity ETF | 40.44% | 28.65% | 19.41% | 27.39% | -29.54% | 21.83% | 39.14% | 26.35% | 5.78% | 15.41% |
DBE Invesco DB Energy Fund | 73.49% | -2.17% | 2.96% | -12.14% | 33.77% | 57.56% | -25.91% | 19.72% | -12.95% | 5.21% |
Correlation
The correlation between KNCT and DBE is -0.18, 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 | -0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Jan 5, 2007 | 0.21 |
The correlation between KNCT and DBE shifts across timeframes, from -0.18 (1 year) to 0.21 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
KNCT vs. DBE — Risk / Return Rank
KNCT
DBE
KNCT vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Next Gen Connectivity ETF (KNCT) 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.
| KNCT | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.65 | ||
| Sortino ratioReturn per unit of downside risk | +0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.29 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 4.24 | 2.45 | +1.79 |
| Martin ratioReturn relative to average drawdown | 16.66 | 7.31 | +9.36 |
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Drawdowns
KNCT vs. DBE - Drawdown Comparison
The maximum KNCT drawdown since its inception was -57.18%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for KNCT and DBE.
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Drawdown Indicators
| KNCT | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.18% | -86.69% | +29.51% |
Max Drawdown (1Y)Largest decline over 1 year | -14.61% | -24.72% | +10.11% |
Max Drawdown (3Y)Largest decline over 3 years | -21.40% | -24.72% | +3.32% |
Max Drawdown (5Y)Largest decline over 5 years | -34.55% | -38.74% | +4.19% |
Max Drawdown (10Y)Largest decline over 10 years | -34.55% | -60.84% | +26.29% |
Current DrawdownCurrent decline from peak | -14.61% | -34.14% | +19.53% |
Average DrawdownAverage peak-to-trough decline | -10.72% | -57.18% | +46.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.71% | 8.29% | -4.58% |
Volatility
KNCT vs. DBE - Volatility Comparison
Invesco Next Gen Connectivity ETF (KNCT) has a higher volatility of 12.15% compared to Invesco DB Energy Fund (DBE) at 11.46%. This indicates that KNCT's price experiences larger fluctuations and is considered to be riskier 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
| KNCT | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.15% | 11.46% | +0.69% |
Volatility (6M)Calculated over the trailing 6-month period | 23.77% | 32.74% | -8.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.60% | 36.10% | -9.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.30% | 29.90% | -5.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.43% | 28.41% | -4.98% |
KNCT vs. DBE - Expense Ratio Comparison
KNCT has a 0.40% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
KNCT vs. DBE - Dividend Comparison
KNCT's dividend yield for the trailing twelve months is around 0.68%, less than DBE's 2.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.23% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% | 0.00% | 0.00% |
KNCT Invesco Next Gen Connectivity ETF | 0.68% | 0.86% | 1.38% | 0.60% | 2.24% | 0.55% | 0.18% | 0.44% | 1.22% | 0.66% | 0.44% |
Frequently Asked Questions
KNCT and DBE have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KNCT has higher volatility (12.15%) compared to DBE (11.46%). In terms of maximum drawdown, KNCT dropped -57.18% vs DBE's -86.69%.
On 10-year performance, KNCT leads with 19.29% vs 11.80% for DBE. On fees, KNCT is cheaper at 0.40% per year. On volatility, DBE has been the lower-risk option at 11.46%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, KNCT has performed better with a 19.29% return vs 11.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KNCT is cheaper with a 0.40% expense ratio, compared with 0.78% for DBE.
DBE has the higher dividend yield at 2.23%, compared with 0.68% for KNCT.
KNCT is categorized as Technology Equities, while DBE is Oil & Gas. KNCT tracks STOXX World AC NexGen Connectivity Index, while DBE tracks DBIQ Optimum Yield Energy Index. Their fees differ too: 0.40% for KNCT and 0.78% for DBE.
KNCT currently has the higher Sharpe Ratio (2.33 vs 1.68), 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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