MVAL vs. DBE

Last updated Jul 14, 2026

MVAL (VanEck Morningstar Wide Moat Value ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - MVAL is a Large Cap Value Equities fund tracking the Morningstar US Broad Value Wide Moat Focus Index - Benchmark TR Gross, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past year, MVAL returned 12.81% vs 53.22% for DBE. At a correlation of -0.16, they often move in opposite directions. MVAL charges 0.49%/yr vs 0.78%/yr for DBE.

Performance

MVAL vs. DBE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck Morningstar Wide Moat Value ETF (MVAL) 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, MVAL achieves a 3.12% return, which is significantly lower than DBE's 66.08% return.

MVAL

• 1D: 0.06%
• 1M: 2.31%
• 6M: -1.68%
• YTD: 3.12%
• 1Y: 12.81%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DBE

• 1D: 6.87%
• 1M: -1.18%
• 6M: 62.18%
• YTD: 66.08%
• 1Y: 53.22%
• 3Y*: 17.13%
• 5Y*: 16.54%
• 10Y*: 11.15%

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

MVAL vs. DBE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MVAL VanEck Morningstar Wide Moat Value ETF	3.12%	14.17%	6.27%
DBE Invesco DB Energy Fund	66.08%	-2.17%	-3.71%

Correlation

The correlation between MVAL and DBE is -0.29, 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	-0.29
Correlation (All Time) Calculated using the full available price history since Mar 28, 2024	-0.16

The correlation between MVAL and DBE shifts across timeframes, from -0.29 (1 year) to -0.16 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MVAL vs. DBE — Risk / Return Rank

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

MVAL

MVAL Risk / Return Rank: 28
MVAL Sharpe Ratio Rank: 32
MVAL Sortino Ratio Rank: 32
MVAL Omega Ratio Rank: 28
MVAL Calmar Ratio Rank: 27
MVAL Martin Ratio Rank: 23

DBE

DBE Risk / Return Rank: 53
DBE Sharpe Ratio Rank: 55
DBE Sortino Ratio Rank: 53
DBE Omega Ratio Rank: 52
DBE Calmar Ratio Rank: 54
DBE Martin Ratio Rank: 49

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.

MVAL vs. DBE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Morningstar Wide Moat Value ETF (MVAL) 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.

	MVAL	DBE	Difference
Sharpe ratio: Return per unit of total volatility	0.93	1.49	-0.56
Sortino ratio: Return per unit of downside risk	1.44	2.09	-0.65
Omega ratio: Gain probability vs. loss probability	1.16	1.26	-0.10
Calmar ratio: Return relative to maximum drawdown	1.06	2.16	-1.11
Martin ratio: Return relative to average drawdown	2.34	6.57	-4.22

MVAL vs. DBE - Sharpe Ratio Comparison

The current MVAL Sharpe Ratio is 0.93, which is lower than the DBE Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of MVAL 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

MVAL vs. DBE - Drawdown Comparison

The maximum MVAL drawdown since its inception was -19.56%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for MVAL and DBE.

Drawdown Indicators

	MVAL	DBE	Difference
Max Drawdown Largest peak-to-trough decline	-19.56%	-86.69%	+67.13%
Max Drawdown (1Y) Largest decline over 1 year	-12.16%	-24.72%	+12.56%
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	-5.62%	-36.95%	+31.33%
Average Drawdown Average peak-to-trough decline	-3.95%	-57.20%	+53.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.48%	8.13%	-2.65%

Volatility

MVAL vs. DBE - Volatility Comparison

The current volatility for VanEck Morningstar Wide Moat Value ETF (MVAL) is 4.66%, while Invesco DB Energy Fund (DBE) has a volatility of 12.49%. This indicates that MVAL 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

	MVAL	DBE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.66%	12.49%	-7.83%
Volatility (6M) Calculated over the trailing 6-month period	10.03%	32.73%	-22.70%
Volatility (1Y) Calculated over the trailing 1-year period	13.89%	36.03%	-22.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.39%	29.89%	-14.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.39%	28.40%	-13.01%

MVAL vs. DBE - Expense Ratio Comparison

MVAL has a 0.49% expense ratio, which is lower than DBE's 0.78% expense ratio.

Dividends

MVAL vs. DBE - Dividend Comparison

MVAL's dividend yield for the trailing twelve months is around 1.69%, less than DBE's 2.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DBE Invesco DB Energy Fund	2.33%	3.86%	6.32%	3.87%	0.75%	0.00%	0.00%	1.79%	1.67%
MVAL VanEck Morningstar Wide Moat Value ETF	1.69%	1.75%	0.97%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MVAL and DBE in my portfolio?

MVAL and DBE have a correlation of -0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MVAL or DBE?

DBE has higher volatility (12.49%) compared to MVAL (4.66%). In terms of maximum drawdown, MVAL dropped -19.56% vs DBE's -86.69%.

Which ETF is better, MVAL or DBE?

On 1-year performance, DBE leads with 53.22% vs 12.81% for MVAL. On fees, MVAL is cheaper at 0.49% per year. On volatility, MVAL has been the lower-risk option at 4.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MVAL or DBE?

Over the 1-year period, DBE has performed better with a 53.22% return vs 12.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MVAL or DBE?

MVAL is cheaper with a 0.49% expense ratio, compared with 0.78% for DBE.

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

DBE has the higher dividend yield at 2.33%, compared with 1.69% for MVAL.

What is the main difference between MVAL and DBE?

MVAL is categorized as Large Cap Value Equities, while DBE is Oil & Gas. MVAL tracks Morningstar US Broad Value Wide Moat Focus Index - Benchmark TR Gross, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: VanEck and Invesco. Their fees differ too: 0.49% for MVAL and 0.78% for DBE.

Which has better risk-adjusted returns?

DBE currently has the higher Sharpe Ratio (1.49 vs 0.93), 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.