MDPL vs. DBE

Last updated Jul 11, 2026

MDPL (Monarch Dividend Plus ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - MDPL is a Mid Cap Value Equities fund tracking the Monarch Dividend Plus Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past year, MDPL returned 0.34% vs 43.36% for DBE. At a 0.01 correlation, their price movements are largely independent. MDPL charges 1.24%/yr vs 0.78%/yr for DBE.

Performance

MDPL vs. DBE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Monarch Dividend Plus ETF (MDPL) 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, MDPL achieves a -2.31% return, which is significantly lower than DBE's 55.40% return.

MDPL

• 1D: 0.23%
• 1M: -0.74%
• 6M: -6.22%
• YTD: -2.31%
• 1Y: 0.34%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DBE

• 1D: -0.15%
• 1M: -7.53%
• 6M: 54.20%
• YTD: 55.40%
• 1Y: 43.36%
• 3Y*: 14.72%
• 5Y*: 14.81%
• 10Y*: 10.23%

*Multi-year figures are annualized to reflect compound growth (CAGR)

MDPL vs. DBE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MDPL Monarch Dividend Plus ETF	-2.31%	7.57%	0.42%
DBE Invesco DB Energy Fund	55.40%	-2.17%	-1.43%

Correlation

The correlation between MDPL and DBE is -0.08, 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	-0.08
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024	0.01

Return for Risk

MDPL vs. DBE — Risk / Return Rank

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

MDPL

MDPL Risk / Return Rank: 9
MDPL Sharpe Ratio Rank: 9
MDPL Sortino Ratio Rank: 8
MDPL Omega Ratio Rank: 8
MDPL Calmar Ratio Rank: 9
MDPL Martin Ratio Rank: 9

DBE

DBE Risk / Return Rank: 46
DBE Sharpe Ratio Rank: 47
DBE Sortino Ratio Rank: 46
DBE Omega Ratio Rank: 45
DBE Calmar Ratio Rank: 47
DBE Martin Ratio Rank: 44

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.

MDPL vs. DBE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Monarch Dividend Plus ETF (MDPL) 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.

	MDPL	DBE	Difference
Sharpe ratio: Return per unit of total volatility	-0.03	1.32	-1.35
Sortino ratio: Return per unit of downside risk	0.07	1.89	-1.82
Omega ratio: Gain probability vs. loss probability	1.01	1.24	-0.23
Calmar ratio: Return relative to maximum drawdown	-0.04	1.89	-1.93
Martin ratio: Return relative to average drawdown	-0.10	5.77	-5.87

MDPL vs. DBE - Sharpe Ratio Comparison

The current MDPL Sharpe Ratio is -0.03, which is lower than the DBE Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of MDPL 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.

Drawdowns

MDPL vs. DBE - Drawdown Comparison

The maximum MDPL drawdown since its inception was -14.21%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for MDPL and DBE.

Drawdown Indicators

	MDPL	DBE	Difference
Max Drawdown Largest peak-to-trough decline	-14.21%	-86.69%	+72.48%
Max Drawdown (1Y) Largest decline over 1 year	-12.38%	-24.72%	+12.34%
Max Drawdown (3Y) Largest decline over 3 years	—	-24.72%	—
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	-6.80%	-41.01%	+34.21%
Average Drawdown Average peak-to-trough decline	-4.54%	-57.20%	+52.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.51%	8.07%	-2.56%

Volatility

MDPL vs. DBE - Volatility Comparison

The current volatility for Monarch Dividend Plus ETF (MDPL) is 6.12%, while Invesco DB Energy Fund (DBE) has a volatility of 10.40%. This indicates that MDPL 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

	MDPL	DBE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.12%	10.40%	-4.28%
Volatility (6M) Calculated over the trailing 6-month period	11.95%	32.24%	-20.29%
Volatility (1Y) Calculated over the trailing 1-year period	15.92%	35.40%	-19.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.36%	29.73%	-14.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.36%	28.35%	-12.99%

MDPL vs. DBE - Expense Ratio Comparison

MDPL has a 1.24% expense ratio, which is higher than DBE's 0.78% expense ratio.

Dividends

MDPL vs. DBE - Dividend Comparison

MDPL's dividend yield for the trailing twelve months is around 1.58%, less than DBE's 2.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DBE Invesco DB Energy Fund	2.49%	3.86%	6.32%	3.87%	0.75%	0.00%	0.00%	1.79%	1.67%
MDPL Monarch Dividend Plus ETF	1.58%	1.42%	1.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MDPL and DBE in my portfolio?

MDPL and DBE have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MDPL or DBE?

DBE has higher volatility (10.40%) compared to MDPL (6.12%). In terms of maximum drawdown, MDPL dropped -14.21% vs DBE's -86.69%.

Which ETF is better, MDPL or DBE?

On 1-year performance, DBE leads with 43.36% vs 0.34% for MDPL. On fees, DBE is cheaper at 0.78% per year. On volatility, MDPL has been the lower-risk option at 6.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MDPL or DBE?

Over the 1-year period, DBE has performed better with a 43.36% return vs 0.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MDPL or DBE?

DBE is cheaper with a 0.78% expense ratio, compared with 1.24% for MDPL.

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

DBE has the higher dividend yield at 2.49%, compared with 1.58% for MDPL.

What is the main difference between MDPL and DBE?

MDPL is categorized as Mid Cap Value Equities, while DBE is Oil & Gas. MDPL tracks Monarch Dividend Plus Index, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: Monarch and Invesco. Their fees differ too: 1.24% for MDPL and 0.78% for DBE.

Which has better risk-adjusted returns?

DBE currently has the higher Sharpe Ratio (1.32 vs -0.03), 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.