PNQI vs. DBE
PNQI (Invesco NASDAQ Internet ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - PNQI is a Large Cap Growth Equities fund tracking the NASDAQ Internet Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 10 years, PNQI returned 11.84%/yr vs 11.45%/yr for DBE. At a 0.21 correlation, their price movements are largely independent. PNQI charges 0.62%/yr vs 0.78%/yr for DBE.
Performance
PNQI vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, PNQI achieves a -8.93% return, which is significantly lower than DBE's 68.39% return. Both investments have delivered pretty close results over the past 10 years, with PNQI having a 11.84% annualized return and DBE not far behind at 11.45%.
PNQI
- 1D
- -0.10%
- 1M
- 4.84%
- 6M
- -6.83%
- YTD
- -8.93%
- 1Y
- -5.40%
- 3Y*
- 14.03%
- 5Y*
- -0.36%
- 10Y*
- 11.84%
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%
PNQI vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PNQI Invesco NASDAQ Internet ETF | -8.93% | 15.56% | 29.44% | 60.69% | -47.92% | -5.57% | 61.36% | 28.76% | -5.08% | 40.05% |
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 PNQI and DBE is -0.21, 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 | -0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Jun 13, 2008 | 0.21 |
The correlation between PNQI and DBE shifts across timeframes, from -0.21 (1 year) to 0.21 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PNQI vs. DBE — Risk / Return Rank
PNQI
DBE
PNQI vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco NASDAQ Internet ETF (PNQI) 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.
| PNQI | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.89 | ||
| Sortino ratioReturn per unit of downside risk | -2.47 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.28 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | -0.22 | 2.34 | -2.56 |
| Martin ratioReturn relative to average drawdown | -0.44 | 7.00 | -7.44 |
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Drawdowns
PNQI vs. DBE - Drawdown Comparison
The maximum PNQI drawdown since its inception was -59.70%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for PNQI and DBE.
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Drawdown Indicators
| PNQI | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.70% | -86.69% | +26.99% |
Max Drawdown (1Y)Largest decline over 1 year | -24.85% | -24.72% | -0.13% |
Max Drawdown (3Y)Largest decline over 3 years | -24.85% | -24.72% | -0.13% |
Max Drawdown (5Y)Largest decline over 5 years | -59.56% | -38.74% | -20.82% |
Max Drawdown (10Y)Largest decline over 10 years | -59.70% | -60.84% | +1.14% |
Current DrawdownCurrent decline from peak | -13.93% | -36.07% | +22.14% |
Average DrawdownAverage peak-to-trough decline | -12.99% | -57.19% | +44.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.22% | 8.26% | +3.96% |
Volatility
PNQI vs. DBE - Volatility Comparison
The current volatility for Invesco NASDAQ Internet ETF (PNQI) is 7.43%, while Invesco DB Energy Fund (DBE) has a volatility of 11.68%. This indicates that PNQI 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
| PNQI | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.43% | 11.68% | -4.25% |
Volatility (6M)Calculated over the trailing 6-month period | 15.96% | 32.70% | -16.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.43% | 35.99% | -16.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.00% | 29.88% | -2.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.32% | 28.39% | -3.07% |
PNQI vs. DBE - Expense Ratio Comparison
PNQI has a 0.62% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
PNQI vs. DBE - Dividend Comparison
PNQI has not paid dividends to shareholders, while DBE's dividend yield for the trailing twelve months is around 2.29%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
PNQI Invesco NASDAQ Internet ETF | 0.00% | 0.02% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.02% |
Frequently Asked Questions
PNQI and DBE have a correlation of -0.21, 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 PNQI (7.43%). In terms of maximum drawdown, PNQI dropped -59.70% vs DBE's -86.69%.
On 10-year performance, PNQI leads with 11.84% vs 11.45% for DBE. On fees, PNQI is cheaper at 0.62% per year. On volatility, PNQI has been the lower-risk option at 7.43%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, PNQI has performed better with a 11.84% return vs 11.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PNQI is cheaper with a 0.62% expense ratio, compared with 0.78% for DBE.
DBE has the higher dividend yield at 2.29%, compared with 0.00% for PNQI.
PNQI is categorized as Large Cap Growth Equities, while DBE is Oil & Gas. PNQI tracks NASDAQ Internet Index, while DBE tracks DBIQ Optimum Yield Energy Index. Their fees differ too: 0.62% for PNQI and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (1.61 vs -0.28), 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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