OILU vs. DBE
OILU (MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - OILU is a Leveraged Commodities fund managed by BMO, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Over the past 3 years, OILU returned 10.60%/yr vs 23.42%/yr for DBE. A 0.65 correlation means they provide meaningful diversification when combined. OILU charges 0.95%/yr vs 0.78%/yr for DBE.
Performance
OILU vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, OILU achieves a 96.53% return, which is significantly higher than DBE's 83.68% return.
OILU
- 1D
- 3.64%
- 1M
- -10.84%
- YTD
- 96.53%
- 6M
- 77.49%
- 1Y
- 115.83%
- 3Y*
- 10.60%
- 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%
OILU vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN | 96.53% | -16.50% | -21.65% | -32.50% | 151.08% | -17.87% |
DBE Invesco DB Energy Fund | 83.68% | -2.17% | 2.96% | -12.14% | 33.77% | -7.22% |
Correlation
The correlation between OILU and DBE is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.66 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Nov 10, 2021 | 0.65 |
The correlation between OILU and DBE has been stable across timeframes, ranging from 0.63 to 0.66 - a consistent structural relationship.
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Return for Risk
OILU vs. DBE — Risk / Return Rank
OILU
DBE
OILU vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) 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.
| OILU | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.55 | ||
| Sortino ratioReturn per unit of downside risk | -0.71 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.40 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 3.48 | 5.89 | -2.41 |
| Martin ratioReturn relative to average drawdown | 8.74 | 11.53 | -2.79 |
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
| OILU | DBE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.87 | 2.43 | -0.55 |
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 | 0.17 | 0.09 | +0.07 |
Drawdowns
OILU vs. DBE - Drawdown Comparison
The maximum OILU drawdown since its inception was -81.00%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for OILU and DBE.
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Drawdown Indicators
| OILU | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.00% | -86.69% | +5.69% |
Max Drawdown (1Y)Largest decline over 1 year | -33.51% | -14.41% | -19.10% |
Max Drawdown (3Y)Largest decline over 3 years | -69.09% | -23.89% | -45.20% |
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 | -47.14% | -30.27% | -16.87% |
Average DrawdownAverage peak-to-trough decline | -50.59% | -57.31% | +6.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.32% | 7.35% | +5.97% |
Volatility
OILU vs. DBE - Volatility Comparison
MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN (OILU) has a higher volatility of 25.14% compared to Invesco DB Energy Fund (DBE) at 12.95%. This indicates that OILU's price experiences larger fluctuations and is considered to be riskier 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
| OILU | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 25.14% | 12.95% | +12.19% |
Volatility (6M)Calculated over the trailing 6-month period | 49.94% | 30.86% | +19.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 62.23% | 34.97% | +27.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 81.16% | 29.39% | +51.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 81.16% | 28.33% | +52.83% |
OILU vs. DBE - Expense Ratio Comparison
OILU has a 0.95% expense ratio, which is higher than DBE's 0.78% expense ratio.
Dividends
OILU vs. DBE - Dividend Comparison
OILU has not paid dividends to shareholders, while DBE's dividend yield for the trailing twelve months is around 2.10%.
| 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% |
OILU MicroSectors Oil & Gas Exploration & Production 3X Leveraged ETN | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
OILU and DBE have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
OILU has higher volatility (25.14%) compared to DBE (12.95%). In terms of maximum drawdown, OILU dropped -81.00% vs DBE's -86.69%.
On 3-year performance, DBE leads with 23.42% vs 10.60% for OILU. On fees, DBE is cheaper at 0.78% per year. On volatility, DBE has been the lower-risk option at 12.95%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, DBE has performed better with a 23.42% return vs 10.60%. 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 0.95% for OILU.
DBE has the higher dividend yield at 2.10%, compared with 0.00% for OILU.
OILU is categorized as Leveraged Commodities, while DBE is Oil & Gas. They also come from different issuers: BMO and Invesco. Their fees differ too: 0.95% for OILU and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (2.43 vs 1.87), 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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