MDEV vs. DBE
MDEV (First Trust Indxx Medical Devices ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - MDEV is a Health & Biotech Equities fund tracking the Indxx Global Medical Equipment Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 3 years, MDEV returned -2.86%/yr vs 23.42%/yr for DBE. At a 0.00 correlation, their price movements are largely independent. MDEV charges 0.70%/yr vs 0.78%/yr for DBE.
Performance
MDEV vs. DBE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MDEV achieves a -11.48% return, which is significantly lower than DBE's 83.68% return.
MDEV
- 1D
- 0.04%
- 1M
- 1.54%
- YTD
- -11.48%
- 6M
- -12.29%
- 1Y
- -7.05%
- 3Y*
- -2.86%
- 5Y*
- —
- 10Y*
- —
DBE
- 1D
- 2.33%
- 1M
- -5.45%
- YTD
- 83.68%
- 6M
- 74.95%
- 1Y
- 84.41%
- 3Y*
- 23.42%
- 5Y*
- 19.66%
- 10Y*
- 12.03%
MDEV vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MDEV First Trust Indxx Medical Devices ETF | -11.48% | 2.00% | 1.79% | 7.55% | -28.59% | 4.16% |
DBE Invesco DB Energy Fund | 83.68% | -2.17% | 2.96% | -12.14% | 33.77% | 9.07% |
Correlation
The correlation between MDEV and DBE is -0.33, 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 | -0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.12 |
Correlation (All Time) Calculated using the full available price history since Jun 24, 2021 | 0.00 |
The correlation between MDEV and DBE shifts across timeframes, from -0.33 (1 year) to 0.00 (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
MDEV vs. DBE — Risk / Return Rank
MDEV
DBE
MDEV vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Indxx Medical Devices ETF (MDEV) 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.
| MDEV | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.87 | ||
| Sortino ratioReturn per unit of downside risk | -3.48 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.40 | -0.46 |
| Calmar ratioReturn relative to maximum drawdown | -0.39 | 5.89 | -6.28 |
| Martin ratioReturn relative to average drawdown | -0.98 | 11.53 | -12.51 |
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
| MDEV | DBE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.44 | 2.43 | -2.87 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.67 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.43 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.32 | 0.09 | -0.41 |
Drawdowns
MDEV vs. DBE - Drawdown Comparison
The maximum MDEV drawdown since its inception was -42.34%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for MDEV and DBE.
Loading charts...
Drawdown Indicators
| MDEV | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.34% | -86.69% | +44.35% |
Max Drawdown (1Y)Largest decline over 1 year | -18.13% | -14.41% | -3.72% |
Max Drawdown (3Y)Largest decline over 3 years | -22.50% | -23.89% | +1.39% |
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 | -33.76% | -30.27% | -3.49% |
Average DrawdownAverage peak-to-trough decline | -25.65% | -57.31% | +31.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.22% | 7.35% | -0.13% |
Volatility
MDEV vs. DBE - Volatility Comparison
The current volatility for First Trust Indxx Medical Devices ETF (MDEV) is 4.60%, while Invesco DB Energy Fund (DBE) has a volatility of 12.95%. This indicates that MDEV 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
| MDEV | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.60% | 12.95% | -8.35% |
Volatility (6M)Calculated over the trailing 6-month period | 11.42% | 30.86% | -19.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.00% | 34.97% | -18.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.98% | 29.39% | -10.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.98% | 28.33% | -9.35% |
MDEV vs. DBE - Expense Ratio Comparison
MDEV has a 0.70% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
MDEV vs. DBE - Dividend Comparison
MDEV has not paid dividends to shareholders, while DBE's dividend yield for the trailing twelve months is around 2.10%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.10% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% |
MDEV First Trust Indxx Medical Devices ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MDEV and DBE have a correlation of -0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBE has higher volatility (12.95%) compared to MDEV (4.60%). In terms of maximum drawdown, MDEV dropped -42.34% vs DBE's -86.69%.
On 3-year performance, DBE leads with 23.42% vs -2.86% for MDEV. On fees, MDEV is cheaper at 0.70% per year. On volatility, MDEV has been the lower-risk option at 4.60%. 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 23.42% return vs -2.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MDEV is cheaper with a 0.70% expense ratio, compared with 0.78% for DBE.
DBE has the higher dividend yield at 2.10%, compared with 0.00% for MDEV.
MDEV is categorized as Health & Biotech Equities, while DBE is Oil & Gas. MDEV tracks Indxx Global Medical Equipment Index, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: First Trust and Invesco. Their fees differ too: 0.70% for MDEV and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (2.43 vs -0.44), 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 MDEV 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