MOAT vs. DBE
MOAT (VanEck Vectors Morningstar Wide Moat ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - MOAT is a Large Cap Blend Equities fund tracking the Morningstar Wide Moat Focus Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 10 years, MOAT returned 13.37%/yr vs 12.03%/yr for DBE. At a 0.23 correlation, their price movements are largely independent. MOAT charges 0.48%/yr vs 0.78%/yr for DBE.
Performance
MOAT vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, MOAT achieves a -0.94% return, which is significantly lower than DBE's 83.68% return. Over the past 10 years, MOAT has outperformed DBE with an annualized return of 13.37%, while DBE has yielded a comparatively lower 12.03% annualized return.
MOAT
- 1D
- -1.37%
- 1M
- 3.30%
- YTD
- -0.94%
- 6M
- -0.69%
- 1Y
- 14.97%
- 3Y*
- 11.34%
- 5Y*
- 8.01%
- 10Y*
- 13.37%
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%
MOAT vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MOAT VanEck Vectors Morningstar Wide Moat ETF | -0.94% | 13.20% | 10.73% | 31.89% | -13.66% | 24.12% | 14.84% | 34.79% | -1.28% | 23.18% |
DBE Invesco DB Energy Fund | 83.68% | -2.17% | 2.96% | -12.14% | 33.77% | 57.56% | -25.91% | 19.72% | -12.95% | 5.21% |
Correlation
The correlation between MOAT and DBE is -0.27, 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 | -0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Apr 26, 2012 | 0.23 |
The correlation between MOAT and DBE shifts across timeframes, from -0.27 (1 year) to 0.23 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MOAT vs. DBE — Risk / Return Rank
MOAT
DBE
MOAT vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors Morningstar Wide Moat ETF (MOAT) 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.
| MOAT | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.34 | ||
| Sortino ratioReturn per unit of downside risk | -1.31 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.40 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 1.21 | 5.89 | -4.68 |
| Martin ratioReturn relative to average drawdown | 3.77 | 11.53 | -7.76 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MOAT | DBE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.09 | 2.43 | -1.34 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.44 | 0.67 | -0.23 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.72 | 0.43 | +0.29 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.77 | 0.09 | +0.68 |
Drawdowns
MOAT vs. DBE - Drawdown Comparison
The maximum MOAT drawdown since its inception was -33.31%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for MOAT and DBE.
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Drawdown Indicators
| MOAT | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.31% | -86.69% | +53.38% |
Max Drawdown (1Y)Largest decline over 1 year | -12.43% | -14.41% | +1.98% |
Max Drawdown (3Y)Largest decline over 3 years | -21.44% | -23.89% | +2.45% |
Max Drawdown (5Y)Largest decline over 5 years | -23.96% | -38.74% | +14.78% |
Max Drawdown (10Y)Largest decline over 10 years | -33.31% | -60.84% | +27.53% |
Current DrawdownCurrent decline from peak | -4.72% | -30.27% | +25.55% |
Average DrawdownAverage peak-to-trough decline | -3.83% | -57.31% | +53.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.98% | 7.35% | -3.37% |
Volatility
MOAT vs. DBE - Volatility Comparison
The current volatility for VanEck Vectors Morningstar Wide Moat ETF (MOAT) is 3.82%, while Invesco DB Energy Fund (DBE) has a volatility of 12.95%. This indicates that MOAT 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
| MOAT | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.82% | 12.95% | -9.13% |
Volatility (6M)Calculated over the trailing 6-month period | 9.87% | 30.86% | -20.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.86% | 34.97% | -21.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.18% | 29.39% | -11.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.68% | 28.33% | -9.65% |
MOAT vs. DBE - Expense Ratio Comparison
MOAT has a 0.48% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
MOAT vs. DBE - Dividend Comparison
MOAT's dividend yield for the trailing twelve months is around 1.37%, less than DBE's 2.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.10% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% | 0.00% | 0.00% | 0.00% |
MOAT VanEck Vectors Morningstar Wide Moat ETF | 1.37% | 1.36% | 1.37% | 0.86% | 1.25% | 1.08% | 1.46% | 1.31% | 1.79% | 1.07% | 1.17% | 2.13% |
Frequently Asked Questions
MOAT and DBE have a correlation of -0.27, 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 MOAT (3.82%). In terms of maximum drawdown, MOAT dropped -33.31% vs DBE's -86.69%.
On 10-year performance, MOAT leads with 13.37% vs 12.03% for DBE. On fees, MOAT is cheaper at 0.48% per year. On volatility, MOAT has been the lower-risk option at 3.82%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, MOAT has performed better with a 13.37% return vs 12.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MOAT is cheaper with a 0.48% expense ratio, compared with 0.78% for DBE.
DBE has the higher dividend yield at 2.10%, compared with 1.37% for MOAT.
MOAT is categorized as Large Cap Blend Equities, while DBE is Oil & Gas. MOAT tracks Morningstar Wide Moat Focus Index, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: VanEck and Invesco. Their fees differ too: 0.48% for MOAT and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (2.43 vs 1.09), 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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