NDVG vs. DBE

Last updated Jun 4, 2026

NDVG (Nuveen Dividend Growth ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - NDVG is a Large Cap Growth Equities fund actively managed by Nuveen, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. NDVG is actively managed, while DBE is passively managed. At a 0.09 correlation, their price movements are largely independent. NDVG charges 0.64%/yr vs 0.78%/yr for DBE.

Performance

NDVG vs. DBE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Dividend Growth ETF (NDVG) and Invesco DB Energy Fund (DBE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

NDVG

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 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%

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

NDVG vs. DBE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
NDVG Nuveen Dividend Growth ETF	-1.62%	10.06%	17.60%	15.15%	-9.55%	11.07%
DBE Invesco DB Energy Fund	83.68%	-2.17%	2.96%	-12.14%	33.77%	10.41%

Correlation

The correlation between NDVG and DBE is -0.20, 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	-0.20
Correlation (3Y) Calculated over the trailing 3-year period	-0.05
Correlation (All Time) Calculated using the full available price history since Aug 6, 2021	0.09

The correlation between NDVG and DBE shifts across timeframes, from -0.20 (1 year) to 0.09 (all time), reflecting how their relationship changes across market environments.

Return for Risk

NDVG vs. DBE — Risk / Return Rank

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

DBE

DBE Risk / Return Rank: 71
DBE Sharpe Ratio Rank: 74
DBE Sortino Ratio Rank: 63
DBE Omega Ratio Rank: 65
DBE Calmar Ratio Rank: 91
DBE Martin Ratio Rank: 63

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.

NDVG vs. DBE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Dividend Growth ETF (NDVG) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	NDVG	DBE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.43	—
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	—	0.09	—

Drawdowns

Drawdown Indicators

	NDVG	DBE	Difference
Max Drawdown Largest peak-to-trough decline	—	-86.69%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-14.41%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-23.89%	—
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	—	-30.27%	—
Average Drawdown Average peak-to-trough decline	—	-57.31%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.35%	—

Volatility

Volatility by Period

	NDVG	DBE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	12.95%	—
Volatility (6M) Calculated over the trailing 6-month period	—	30.86%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	34.97%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	29.39%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	28.33%	—

NDVG vs. DBE - Expense Ratio Comparison

NDVG has a 0.64% expense ratio, which is lower than DBE's 0.78% expense ratio.

Dividends

NDVG vs. DBE - Dividend Comparison

NDVG's dividend yield for the trailing twelve months is around 4.41%, more than DBE's 2.10% yield.

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%
NDVG Nuveen Dividend Growth ETF	4.41%	1.05%	1.20%	1.24%	1.34%	0.57%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NDVG and DBE in my portfolio?

NDVG and DBE have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NDVG or DBE?

On fees, NDVG is cheaper at 0.64% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, NDVG or DBE?

NDVG is cheaper with a 0.64% expense ratio, compared with 0.78% for DBE.

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

NDVG has the higher dividend yield at 4.41%, compared with 2.10% for DBE.

What is the main difference between NDVG and DBE?

NDVG is categorized as Large Cap Growth Equities, while DBE is Oil & Gas. They also come from different issuers: Nuveen and Invesco. Their fees differ too: 0.64% for NDVG and 0.78% for DBE.