MCHI vs. DBE
MCHI (iShares MSCI China ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - MCHI is a China Equities fund tracking the MSCI China Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 10 years, MCHI returned 4.49%/yr vs 11.58%/yr for DBE. At a 0.23 correlation, their price movements are largely independent. MCHI charges 0.59%/yr vs 0.78%/yr for DBE.
Performance
MCHI vs. DBE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MCHI achieves a -7.22% return, which is significantly lower than DBE's 79.04% return. Over the past 10 years, MCHI has underperformed DBE with an annualized return of 4.49%, while DBE has yielded a comparatively higher 11.58% annualized return.
MCHI
- 1D
- -0.45%
- 1M
- -2.60%
- YTD
- -7.22%
- 6M
- -8.98%
- 1Y
- 3.98%
- 3Y*
- 9.73%
- 5Y*
- -5.76%
- 10Y*
- 4.49%
DBE
- 1D
- -2.52%
- 1M
- -6.01%
- YTD
- 79.04%
- 6M
- 69.31%
- 1Y
- 81.31%
- 3Y*
- 22.41%
- 5Y*
- 19.05%
- 10Y*
- 11.58%
MCHI vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MCHI iShares MSCI China ETF | -7.22% | 31.04% | 17.73% | -11.94% | -23.01% | -21.74% | 27.78% | 23.72% | -19.79% | 54.67% |
DBE Invesco DB Energy Fund | 79.04% | -2.17% | 2.96% | -12.14% | 33.77% | 57.56% | -25.91% | 19.72% | -12.95% | 5.21% |
Correlation
The correlation between MCHI and DBE is -0.17, 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 | -0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Apr 1, 2011 | 0.23 |
The correlation between MCHI and DBE shifts across timeframes, from -0.17 (1 year) to 0.23 (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.
Return for Risk
MCHI vs. DBE — Risk / Return Rank
MCHI
DBE
MCHI vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI China ETF (MCHI) 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.
| MCHI | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.13 | ||
| Sortino ratioReturn per unit of downside risk | -2.44 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 1.39 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | 0.23 | 5.67 | -5.44 |
| Martin ratioReturn relative to average drawdown | 0.48 | 11.08 | -10.60 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| MCHI | DBE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.20 | 2.33 | -2.13 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.19 | 0.65 | -0.84 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.16 | 0.41 | -0.25 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.09 | 0.09 | 0.00 |
Drawdowns
MCHI vs. DBE - Drawdown Comparison
The maximum MCHI drawdown since its inception was -62.95%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for MCHI and DBE.
Loading charts...
Drawdown Indicators
| MCHI | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.95% | -86.69% | +23.74% |
Max Drawdown (1Y)Largest decline over 1 year | -17.17% | -14.41% | -2.76% |
Max Drawdown (3Y)Largest decline over 3 years | -25.85% | -23.89% | -1.96% |
Max Drawdown (5Y)Largest decline over 5 years | -56.98% | -38.74% | -18.24% |
Max Drawdown (10Y)Largest decline over 10 years | -62.95% | -60.84% | -2.11% |
Current DrawdownCurrent decline from peak | -36.74% | -32.03% | -4.71% |
Average DrawdownAverage peak-to-trough decline | -24.53% | -57.30% | +32.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.36% | 7.37% | +0.99% |
Volatility
MCHI vs. DBE - Volatility Comparison
The current volatility for iShares MSCI China ETF (MCHI) is 7.27%, while Invesco DB Energy Fund (DBE) has a volatility of 13.05%. This indicates that MCHI 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.
Loading charts...
Volatility by Period
| MCHI | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.27% | 13.05% | -5.78% |
Volatility (6M)Calculated over the trailing 6-month period | 14.51% | 30.97% | -16.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.16% | 35.07% | -14.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.71% | 29.41% | +1.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.39% | 28.34% | -0.95% |
MCHI vs. DBE - Expense Ratio Comparison
MCHI has a 0.59% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
MCHI vs. DBE - Dividend Comparison
MCHI's dividend yield for the trailing twelve months is around 2.28%, more than DBE's 2.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.16% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% | 0.00% | 0.00% | 0.00% |
MCHI iShares MSCI China ETF | 2.28% | 2.12% | 2.31% | 2.66% | 1.78% | 1.04% | 1.04% | 1.45% | 1.60% | 1.56% | 1.66% | 2.76% |
Frequently Asked Questions
MCHI and DBE have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBE has higher volatility (13.05%) compared to MCHI (7.27%). In terms of maximum drawdown, MCHI dropped -62.95% vs DBE's -86.69%.
On 10-year performance, DBE leads with 11.58% vs 4.49% for MCHI. On fees, MCHI is cheaper at 0.59% per year. On volatility, MCHI has been the lower-risk option at 7.27%. 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 11.58% return vs 4.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MCHI is cheaper with a 0.59% expense ratio, compared with 0.78% for DBE.
MCHI has the higher dividend yield at 2.28%, compared with 2.16% for DBE.
MCHI is categorized as China Equities, while DBE is Oil & Gas. MCHI tracks MSCI China Index, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.59% for MCHI and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (2.33 vs 0.20), 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.
Find the right allocation for MCHI and DBE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer