MEMS vs. DBE
MEMS (Matthews Emerging Markets Discovery Active ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - MEMS is a Emerging Markets Equities fund actively managed by Matthews, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. MEMS is actively managed, while DBE is passively managed. Over the past year, MEMS returned 16.71% vs 68.62% for DBE. Their -0.07 correlation means they have often moved in opposite directions in the past. MEMS charges 0.89%/yr vs 0.78%/yr for DBE.
Performance
MEMS vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, MEMS achieves a 13.60% return, which is significantly lower than DBE's 78.87% return.
MEMS
- 1D
- 0.31%
- 1M
- -8.27%
- 6M
- 6.87%
- YTD
- 13.60%
- 1Y
- 16.71%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 7.24%
DBE
- 1D
- 1.13%
- 1M
- 21.13%
- 6M
- 53.89%
- YTD
- 78.87%
- 1Y
- 68.62%
- 3Y*
- 17.16%
- 5Y*
- 17.73%
- 10Y*
- 13.17%
- ALL TIME*
- 2.52%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.24M | $1.18M | $1.76M | |
| $37.98K | $24.77K | $32.48K |
MEMS vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MEMS Matthews Emerging Markets Discovery Active ETF | 13.60% | 11.12% | -5.32% |
DBE Invesco DB Energy Fund | 78.87% | -2.17% | 2.32% |
Correlation
The correlation between MEMS and DBE is -0.32, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.32 |
Correlation (All Time) Calculated using the full available price history since Jan 11, 2024 | -0.07 |
Over the past year, the inverse relationship between MEMS and DBE has strengthened: their correlation has moved from -0.07 to -0.32, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
MEMS vs. DBE — Risk / Return Rank
MEMS
DBE
MEMS vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Matthews Emerging Markets Discovery Active ETF (MEMS) 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.
| MEMS | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.00 | ||
| Sortino ratioReturn per unit of downside risk | -1.18 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.29 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.22 | 2.59 | -1.38 |
| Martin ratioReturn relative to average drawdown | 3.42 | 8.14 | -4.72 |
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Drawdowns
MEMS vs. DBE - Drawdown Comparison
The maximum MEMS drawdown since its inception was -22.24%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for MEMS and DBE.
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Drawdown Indicators
| MEMS | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.24% | -86.69% | +64.45% |
Max Drawdown (1Y)Largest decline over 1 year | -13.29% | -24.72% | +11.43% |
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 DrawdownCurrent decline from peak | -10.85% | -32.09% | +21.24% |
Average DrawdownAverage peak-to-trough decline | -5.23% | -57.13% | +51.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.71% | 8.15% | -3.44% |
Volatility
MEMS vs. DBE - Volatility Comparison
The current volatility for Matthews Emerging Markets Discovery Active ETF (MEMS) is 6.92%, while Invesco DB Energy Fund (DBE) has a volatility of 14.12%. This indicates that MEMS 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
| MEMS | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.92% | 14.12% | -7.20% |
Volatility (6M)Calculated over the trailing 6-month period | 20.35% | 33.95% | -13.60% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.65% | 37.47% | -14.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.06% | 30.09% | -10.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.06% | 28.58% | -8.52% |
MEMS vs. DBE - Expense Ratio Comparison
MEMS has a 0.89% expense ratio, which is higher than DBE's 0.78% expense ratio.
Dividends
MEMS vs. DBE - Dividend Comparison
MEMS's dividend yield for the trailing twelve months is around 2.47%, more than DBE's 2.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.16% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% |
MEMS Matthews Emerging Markets Discovery Active ETF | 2.47% | 2.81% | 1.42% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MEMS and DBE have a correlation of -0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBE has higher volatility (14.12%) compared to MEMS (6.92%). In terms of maximum drawdown, MEMS dropped -22.24% vs DBE's -86.69%.
On 1-year performance, DBE leads with 68.62% vs 16.71% for MEMS. On fees, DBE is cheaper at 0.78% per year. On volatility, MEMS has been the lower-risk option at 6.92%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DBE has performed better with a 68.62% return vs 16.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DBE is cheaper with a 0.78% expense ratio, compared with 0.89% for MEMS.
MEMS has the higher dividend yield at 2.47%, compared with 2.16% for DBE.
MEMS is categorized as Emerging Markets Equities, while DBE is Oil & Gas. They also come from different issuers: Matthews and Invesco. Their fees differ too: 0.89% for MEMS and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (1.71 vs 0.71), 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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