NFTY vs. DBE
NFTY (First Trust India NIFTY 50 Equal Weight ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - NFTY is a India Equities fund tracking the NIFTY 50 Equal Weight Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 10 years, NFTY returned 7.23%/yr vs 11.45%/yr for DBE. At a 0.10 correlation, their price movements are largely independent. NFTY charges 0.80%/yr vs 0.78%/yr for DBE.
Performance
NFTY vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, NFTY achieves a -8.35% return, which is significantly lower than DBE's 68.39% return. Over the past 10 years, NFTY has underperformed DBE with an annualized return of 7.23%, while DBE has yielded a comparatively higher 11.45% annualized return.
NFTY
- 1D
- -0.21%
- 1M
- -1.78%
- 6M
- -7.54%
- YTD
- -8.35%
- 1Y
- -9.06%
- 3Y*
- 4.29%
- 5Y*
- 5.57%
- 10Y*
- 7.23%
DBE
- 1D
- -1.09%
- 1M
- 6.25%
- 6M
- 65.69%
- YTD
- 68.39%
- 1Y
- 57.64%
- 3Y*
- 17.96%
- 5Y*
- 17.10%
- 10Y*
- 11.45%
NFTY vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NFTY First Trust India NIFTY 50 Equal Weight ETF | -8.35% | 5.47% | 5.18% | 24.00% | -3.46% | 26.83% | 10.04% | 0.58% | -1.51% | 21.78% |
DBE Invesco DB Energy Fund | 68.39% | -2.17% | 2.96% | -12.14% | 33.77% | 57.56% | -25.91% | 19.72% | -12.95% | 5.21% |
Correlation
The correlation between NFTY and DBE is -0.38, 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 | -0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Feb 28, 2012 | 0.10 |
The correlation between NFTY and DBE shifts across timeframes, from -0.38 (1 year) to 0.10 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
NFTY vs. DBE — Risk / Return Rank
NFTY
DBE
NFTY vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust India NIFTY 50 Equal Weight ETF (NFTY) 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.
| NFTY | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.23 | ||
| Sortino ratioReturn per unit of downside risk | -3.06 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.28 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | -0.56 | 2.34 | -2.91 |
| Martin ratioReturn relative to average drawdown | -1.34 | 7.00 | -8.34 |
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Drawdowns
NFTY vs. DBE - Drawdown Comparison
The maximum NFTY drawdown since its inception was -47.67%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for NFTY and DBE.
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Drawdown Indicators
| NFTY | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.67% | -86.69% | +39.02% |
Max Drawdown (1Y)Largest decline over 1 year | -16.14% | -24.72% | +8.58% |
Max Drawdown (3Y)Largest decline over 3 years | -21.55% | -24.72% | +3.17% |
Max Drawdown (5Y)Largest decline over 5 years | -21.55% | -38.74% | +17.19% |
Max Drawdown (10Y)Largest decline over 10 years | -47.67% | -60.84% | +13.17% |
Current DrawdownCurrent decline from peak | -16.22% | -36.07% | +19.85% |
Average DrawdownAverage peak-to-trough decline | -9.63% | -57.19% | +47.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.82% | 8.26% | -1.44% |
Volatility
NFTY vs. DBE - Volatility Comparison
The current volatility for First Trust India NIFTY 50 Equal Weight ETF (NFTY) is 3.01%, while Invesco DB Energy Fund (DBE) has a volatility of 11.68%. This indicates that NFTY 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
| NFTY | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.01% | 11.68% | -8.67% |
Volatility (6M)Calculated over the trailing 6-month period | 12.58% | 32.70% | -20.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.72% | 35.99% | -21.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.40% | 29.88% | -12.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.64% | 28.39% | -7.75% |
NFTY vs. DBE - Expense Ratio Comparison
NFTY has a 0.80% expense ratio, which is higher than DBE's 0.78% expense ratio.
Dividends
NFTY vs. DBE - Dividend Comparison
NFTY's dividend yield for the trailing twelve months is around 1.93%, less than DBE's 2.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.29% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% | 0.00% | 0.00% | 0.00% |
NFTY First Trust India NIFTY 50 Equal Weight ETF | 1.93% | 1.24% | 1.61% | 0.13% | 5.89% | 1.53% | 0.61% | 0.97% | 0.00% | 4.10% | 3.28% | 4.39% |
Frequently Asked Questions
NFTY and DBE have a correlation of -0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBE has higher volatility (11.68%) compared to NFTY (3.01%). In terms of maximum drawdown, NFTY dropped -47.67% vs DBE's -86.69%.
On 10-year performance, DBE leads with 11.45% vs 7.23% for NFTY. On fees, DBE is cheaper at 0.78% per year. On volatility, NFTY has been the lower-risk option at 3.01%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DBE has performed better with a 11.45% return vs 7.23%. 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 0.80% for NFTY.
DBE has the higher dividend yield at 2.29%, compared with 1.93% for NFTY.
NFTY is categorized as India Equities, while DBE is Oil & Gas. NFTY tracks NIFTY 50 Equal Weight Index, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: First Trust and Invesco. Their fees differ too: 0.80% for NFTY and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (1.61 vs -0.62), 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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