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PKB vs. DBE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

PKB vs. DBE

Last updated Jun 5, 2026

PKB (Invesco Dynamic Building & Construction ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - PKB is a Building & Construction fund tracking the Dynamic Building & Construction Intellidex Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 10 years, PKB returned 15.42%/yr vs 11.58%/yr for DBE. At a 0.24 correlation, their price movements are largely independent. PKB charges 0.60%/yr vs 0.78%/yr for DBE.

Performance

PKB vs. DBE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Dynamic Building & Construction ETF (PKB) and Invesco DB Energy Fund (DBE). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, PKB achieves a 14.13% return, which is significantly lower than DBE's 79.04% return. Over the past 10 years, PKB has outperformed DBE with an annualized return of 15.42%, while DBE has yielded a comparatively lower 11.58% annualized return.

PKB

1D
0.91%
1M
-3.16%
YTD
14.13%
6M
10.71%
1Y
35.41%
3Y*
30.27%
5Y*
15.86%
10Y*
15.42%

DBE

1D
-2.52%
1M
-6.01%
YTD
79.04%
6M
69.31%
1Y
81.31%
3Y*
22.41%
5Y*
19.05%
10Y*
11.58%
*Multi-year figures are annualized to reflect compound growth (CAGR)

PKB vs. DBE - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
PKB
Invesco Dynamic Building & Construction ETF		14.13%22.47%20.24%55.29%-24.88%32.96%24.49%40.15%-31.11%24.67%
DBE
Invesco DB Energy Fund		79.04%-2.17%2.96%-12.14%33.77%57.56%-25.91%19.72%-12.95%5.21%

Correlation

The correlation between PKB and DBE is -0.32, 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

-0.32

Correlation (3Y)
Calculated over the trailing 3-year period

-0.09

Correlation (5Y)
Calculated over the trailing 5-year period

0.05

Correlation (10Y)
Calculated over the trailing 10-year period

0.14

Correlation (All Time)
Calculated using the full available price history since Jan 8, 2007

0.24

The correlation between PKB and DBE shifts across timeframes, from -0.32 (1 year) to 0.24 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco Dynamic Building & Construction ETF

Invesco DB Energy Fund

Often compared with PKB:
PKB vs. ITBPKB vs. XHBPKB vs. RSPNPKB vs. SDCIPKB vs. QQQPKB vs. VOOPKB vs. AIQ
Often compared with DBE:
DBE vs. DBBDBE vs. XLEDBE vs. VDEDBE vs. XLKDBE vs. COMTDBE vs. GLDDBE vs. TIP

Return for Risk

PKB vs. DBE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
PKB
PKB Risk / Return Rank: 4545
Overall Rank
PKB Sharpe Ratio Rank: 4545
Sharpe Ratio Rank
PKB Sortino Ratio Rank: 4747
Sortino Ratio Rank
PKB Omega Ratio Rank: 4141
Omega Ratio Rank
PKB Calmar Ratio Rank: 4848
Calmar Ratio Rank
PKB Martin Ratio Rank: 4646
Martin Ratio Rank
DBE
DBE Risk / Return Rank: 7171
Overall Rank
DBE Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
DBE Sortino Ratio Rank: 6262
Sortino Ratio Rank
DBE Omega Ratio Rank: 6565
Omega Ratio Rank
DBE Calmar Ratio Rank: 9191
Calmar Ratio Rank
DBE Martin Ratio Rank: 6262
Martin Ratio Rank
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.

PKB vs. DBE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Building & Construction ETF (PKB) 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.

PKBDBEDifference
Sharpe ratioReturn per unit of total volatility
1.55
2.33

-0.78

Sortino ratioReturn per unit of downside risk
2.26
2.87

-0.61

Omega ratioGain probability vs. loss probability

1.26

1.39

-0.13

Calmar ratioReturn relative to maximum drawdown

2.31

5.67

-3.37

Martin ratioReturn relative to average drawdown

7.46

11.08

-3.61

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PKB vs. DBE - Sharpe Ratio Comparison

The current PKB Sharpe Ratio is 1.55, which is lower than the DBE Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of PKB 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.

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Sharpe Ratios by Period

PKBDBEDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.55

2.33

-0.78

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.62

0.65

-0.03

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.57

0.41

+0.16

Sharpe Ratio (All Time)

Calculated using the full available price history

0.37

0.09

+0.29

Drawdowns

PKB vs. DBE - Drawdown Comparison

The maximum PKB drawdown since its inception was -65.21%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for PKB and DBE.

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Drawdown Indicators

PKBDBEDifference

Max Drawdown

Largest peak-to-trough decline

-65.21%

-86.69%

+21.48%

Max Drawdown (1Y)

Largest decline over 1 year

-15.41%

-14.41%

-1.00%

Max Drawdown (3Y)

Largest decline over 3 years

-29.75%

-23.89%

-5.86%

Max Drawdown (5Y)

Largest decline over 5 years

-34.85%

-38.74%

+3.89%

Max Drawdown (10Y)

Largest decline over 10 years

-52.29%

-60.84%

+8.55%

Current Drawdown

Current decline from peak

-4.48%

-32.03%

+27.55%

Average Drawdown

Average peak-to-trough decline

-15.77%

-57.30%

+41.53%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.76%

7.37%

-2.61%

Volatility

PKB vs. DBE - Volatility Comparison

The current volatility for Invesco Dynamic Building & Construction ETF (PKB) is 7.38%, while Invesco DB Energy Fund (DBE) has a volatility of 13.05%. This indicates that PKB 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

PKBDBEDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.38%

13.05%

-5.67%

Volatility (6M)

Calculated over the trailing 6-month period

17.85%

30.97%

-13.12%

Volatility (1Y)

Calculated over the trailing 1-year period

22.98%

35.07%

-12.09%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

25.69%

29.41%

-3.72%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

27.23%

28.34%

-1.11%

PKB vs. DBE - Expense Ratio Comparison

PKB has a 0.60% expense ratio, which is lower than DBE's 0.78% expense ratio.

Dividends

PKB vs. DBE - Dividend Comparison

PKB's dividend yield for the trailing twelve months is around 0.14%, less than DBE's 2.16% yield.

PositionTTM20252024202320222021202020192018201720162015
DBE
Invesco DB Energy Fund		2.16%3.86%6.32%3.87%0.75%0.00%0.00%1.79%1.67%0.00%0.00%0.00%
PKB
Invesco Dynamic Building & Construction ETF		0.14%0.14%0.23%0.33%0.43%0.25%0.30%0.37%0.54%0.17%0.31%0.11%

Frequently Asked Questions

PKB and DBE have a correlation of -0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DBE has higher volatility (13.05%) compared to PKB (7.38%). In terms of maximum drawdown, PKB dropped -65.21% vs DBE's -86.69%.

On 10-year performance, PKB leads with 15.42% vs 11.58% for DBE. On fees, PKB is cheaper at 0.60% per year. On volatility, PKB has been the lower-risk option at 7.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, PKB has performed better with a 15.42% return vs 11.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

PKB is cheaper with a 0.60% expense ratio, compared with 0.78% for DBE.

DBE has the higher dividend yield at 2.16%, compared with 0.14% for PKB.

PKB is categorized as Building & Construction, while DBE is Oil & Gas. PKB tracks Dynamic Building & Construction Intellidex Index, while DBE tracks DBIQ Optimum Yield Energy Index. Their fees differ too: 0.60% for PKB and 0.78% for DBE.

DBE currently has the higher Sharpe Ratio (2.33 vs 1.55), 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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