LCF vs. DBE

Last updated Jun 3, 2026

LCF (Touchstone US Large Cap Focused ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - LCF is a Large Cap Blend Equities fund actively managed by Touchstone, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. LCF is actively managed, while DBE is passively managed. Over the past 3 years, LCF returned 17.79%/yr vs 22.48%/yr for DBE. At a 0.04 correlation, their price movements are largely independent. LCF charges 0.70%/yr vs 0.78%/yr for DBE.

Performance

LCF vs. DBE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Touchstone US Large Cap Focused ETF (LCF) and Invesco DB Energy Fund (DBE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LCF achieves a 5.23% return, which is significantly lower than DBE's 79.50% return.

LCF

• 1D: -0.42%
• 1M: 2.89%
• YTD: 5.23%
• 6M: 6.34%
• 1Y: 22.60%
• 3Y*: 17.79%
• 5Y*: —
• 10Y*: —

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)

LCF vs. DBE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
LCF Touchstone US Large Cap Focused ETF	5.23%	17.20%	20.71%	26.20%	-5.21%
DBE Invesco DB Energy Fund	79.50%	-2.17%	2.96%	-12.14%	-10.65%

Correlation

The correlation between LCF and DBE is -0.27, 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	-0.27
Correlation (3Y) Calculated over the trailing 3-year period	-0.07
Correlation (All Time) Calculated using the full available price history since Aug 1, 2022	0.04

The correlation between LCF and DBE shifts across timeframes, from -0.27 (1 year) to 0.04 (all time), reflecting how their relationship changes across market environments.

Return for Risk

LCF vs. DBE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

LCF

LCF Risk / Return Rank: 50
LCF Sharpe Ratio Rank: 55
LCF Sortino Ratio Rank: 54
LCF Omega Ratio Rank: 55
LCF Calmar Ratio Rank: 39
LCF Martin Ratio Rank: 48

DBE

DBE Risk / Return Rank: 71
DBE Sharpe Ratio Rank: 71
DBE Sortino Ratio Rank: 61
DBE Omega Ratio Rank: 64
DBE Calmar Ratio Rank: 92
DBE Martin Ratio Rank: 65

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.

LCF vs. DBE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Touchstone US Large Cap Focused ETF (LCF) 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.

	LCF	DBE	Difference
Sharpe ratio Return per unit of total volatility	1.91	2.37	-0.46
Sortino ratio Return per unit of downside risk	2.67	2.91	-0.24
Omega ratio Gain probability vs. loss probability	1.34	1.39	-0.05
Calmar ratio Return relative to maximum drawdown	1.96	6.10	-4.14
Martin ratio Return relative to average drawdown	8.14	11.98	-3.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LCF vs. DBE - Sharpe Ratio Comparison

The current LCF Sharpe Ratio is 1.91, which is comparable to the DBE Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of LCF 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.

Sharpe Ratios by Period

	LCF	DBE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.91	2.37	-0.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.66	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.42	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.05	0.09	+0.96

Drawdowns

LCF vs. DBE - Drawdown Comparison

The maximum LCF drawdown since its inception was -18.28%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for LCF and DBE.

Drawdown Indicators

	LCF	DBE	Difference
Max Drawdown Largest peak-to-trough decline	-18.28%	-86.69%	+68.41%
Max Drawdown (1Y) Largest decline over 1 year	-11.67%	-14.41%	+2.74%
Max Drawdown (3Y) Largest decline over 3 years	-18.28%	-23.89%	+5.61%
Max Drawdown (5Y) Largest decline over 5 years	—	-38.74%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-60.84%	—
Current Drawdown Current decline from peak	-0.42%	-31.85%	+31.43%
Average Drawdown Average peak-to-trough decline	-2.82%	-57.31%	+54.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.82%	7.34%	-4.52%

Volatility

LCF vs. DBE - Volatility Comparison

The current volatility for Touchstone US Large Cap Focused ETF (LCF) is 2.42%, while Invesco DB Energy Fund (DBE) has a volatility of 13.47%. This indicates that LCF 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.

Volatility by Period

	LCF	DBE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.42%	13.47%	-11.05%
Volatility (6M) Calculated over the trailing 6-month period	9.01%	30.80%	-21.79%
Volatility (1Y) Calculated over the trailing 1-year period	11.86%	35.02%	-23.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.47%	29.37%	-13.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.47%	28.33%	-12.86%

LCF vs. DBE - Expense Ratio Comparison

LCF has a 0.70% expense ratio, which is lower than DBE's 0.78% expense ratio.

Dividends

LCF vs. DBE - Dividend Comparison

LCF's dividend yield for the trailing twelve months is around 0.52%, less than DBE's 2.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DBE Invesco DB Energy Fund	2.15%	3.86%	6.32%	3.87%	0.75%	0.00%	0.00%	1.79%	1.67%
LCF Touchstone US Large Cap Focused ETF	0.52%	0.55%	0.63%	0.71%	0.24%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LCF and DBE in my portfolio?

LCF and DBE have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LCF or DBE?

DBE has higher volatility (13.47%) compared to LCF (2.42%). In terms of maximum drawdown, LCF dropped -18.28% vs DBE's -86.69%.

Which ETF is better, LCF or DBE?

On 3-year performance, DBE leads with 22.48% vs 17.79% for LCF. On fees, LCF is cheaper at 0.70% per year. On volatility, LCF has been the lower-risk option at 2.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LCF or DBE?

Over the 3-year period, DBE has performed better with a 22.48% return vs 17.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LCF or DBE?

LCF is cheaper with a 0.70% expense ratio, compared with 0.78% for DBE.

Which ETF pays a higher dividend yield, LCF or DBE?

DBE has the higher dividend yield at 2.15%, compared with 0.52% for LCF.

What is the main difference between LCF and DBE?

LCF is categorized as Large Cap Blend Equities, while DBE is Oil & Gas. They also come from different issuers: Touchstone and Invesco. Their fees differ too: 0.70% for LCF and 0.78% for DBE.

Which has better risk-adjusted returns?

DBE currently has the higher Sharpe Ratio (2.37 vs 1.91), 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.