MCSE vs. DBE
MCSE (Martin Currie Sustainable International Equity ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - MCSE is a Foreign Large Cap Equities fund actively managed by Martin Currie, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. MCSE is actively managed, while DBE is passively managed. Over the past 3 years, MCSE returned -0.91%/yr vs 18.58%/yr for DBE. At a 0.05 correlation, their price movements are largely independent. MCSE charges 0.59%/yr vs 0.78%/yr for DBE.
Performance
MCSE vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, MCSE achieves a 1.12% return, which is significantly lower than DBE's 73.49% return.
MCSE
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 0.00%
- YTD
- 1.12%
- 1Y
- -0.89%
- 3Y*
- -0.91%
- 5Y*
- —
- 10Y*
- —
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%
MCSE vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
MCSE Martin Currie Sustainable International Equity ETF | 1.12% | 7.79% | -9.46% | 14.86% | 10.04% |
DBE Invesco DB Energy Fund | 73.49% | -2.17% | 2.96% | -12.14% | -8.21% |
Correlation
The correlation between MCSE and DBE is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since Oct 31, 2022 | 0.05 |
The correlation between MCSE and DBE shifts across timeframes, from -0.07 (1 year) to 0.05 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MCSE vs. DBE — Risk / Return Rank
MCSE
DBE
MCSE vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Martin Currie Sustainable International Equity ETF (MCSE) 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.
| MCSE | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.77 | ||
| Sortino ratioReturn per unit of downside risk | -2.33 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.29 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | -0.09 | 2.45 | -2.55 |
| Martin ratioReturn relative to average drawdown | -0.22 | 7.31 | -7.53 |
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Drawdowns
MCSE vs. DBE - Drawdown Comparison
The maximum MCSE drawdown since its inception was -26.36%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for MCSE and DBE.
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Drawdown Indicators
| MCSE | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.36% | -86.69% | +60.33% |
Max Drawdown (1Y)Largest decline over 1 year | -10.42% | -24.72% | +14.30% |
Max Drawdown (3Y)Largest decline over 3 years | -26.36% | -24.72% | -1.64% |
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 | -10.51% | -34.14% | +23.63% |
Average DrawdownAverage peak-to-trough decline | -8.78% | -57.18% | +48.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.30% | 8.29% | -3.99% |
Volatility
MCSE vs. DBE - Volatility Comparison
The current volatility for Martin Currie Sustainable International Equity ETF (MCSE) is 0.00%, while Invesco DB Energy Fund (DBE) has a volatility of 11.46%. This indicates that MCSE 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
| MCSE | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | 11.46% | -11.46% |
Volatility (6M)Calculated over the trailing 6-month period | 3.24% | 32.74% | -29.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.15% | 36.10% | -24.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.18% | 29.90% | -10.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.18% | 28.41% | -9.23% |
MCSE vs. DBE - Expense Ratio Comparison
MCSE has a 0.59% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
MCSE vs. DBE - Dividend Comparison
MCSE's dividend yield for the trailing twelve months is around 3.74%, more than DBE's 2.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.23% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% |
MCSE Martin Currie Sustainable International Equity ETF | 3.74% | 3.78% | 0.63% | 0.57% | 0.48% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MCSE and DBE have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBE has higher volatility (11.46%) compared to MCSE (0.00%). In terms of maximum drawdown, MCSE dropped -26.36% vs DBE's -86.69%.
On 3-year performance, DBE leads with 18.58% vs -0.91% for MCSE. On fees, MCSE is cheaper at 0.59% per year. On volatility, MCSE has been the lower-risk option at 0.00%. 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 18.58% return vs -0.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MCSE is cheaper with a 0.59% expense ratio, compared with 0.78% for DBE.
MCSE has the higher dividend yield at 3.74%, compared with 2.23% for DBE.
MCSE is categorized as Foreign Large Cap Equities, while DBE is Oil & Gas. They also come from different issuers: Martin Currie and Invesco. Their fees differ too: 0.59% for MCSE and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (1.68 vs -0.09), 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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