PSCM vs. DBE
PSCM (Invesco S&P SmallCap Materials ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - PSCM is a Materials fund tracking the S&P Small Cap 600 / Materials -SEC, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 10 years, PSCM returned 10.97%/yr vs 11.15%/yr for DBE. At a 0.25 correlation, their price movements are largely independent. PSCM charges 0.29%/yr vs 0.78%/yr for DBE.
Performance
PSCM vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, PSCM achieves a 16.36% return, which is significantly lower than DBE's 66.08% return. Both investments have delivered pretty close results over the past 10 years, with PSCM having a 10.97% annualized return and DBE not far ahead at 11.15%.
PSCM
- 1D
- -0.14%
- 1M
- -9.52%
- 6M
- 6.49%
- YTD
- 16.36%
- 1Y
- 31.08%
- 3Y*
- 12.59%
- 5Y*
- 9.99%
- 10Y*
- 10.97%
DBE
- 1D
- 6.87%
- 1M
- -1.18%
- 6M
- 62.18%
- YTD
- 66.08%
- 1Y
- 53.22%
- 3Y*
- 17.13%
- 5Y*
- 16.54%
- 10Y*
- 11.15%
PSCM vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PSCM Invesco S&P SmallCap Materials ETF | 16.36% | 15.59% | 0.67% | 19.86% | -6.45% | 18.02% | 22.18% | 21.75% | -23.28% | 10.37% |
DBE Invesco DB Energy Fund | 66.08% | -2.17% | 2.96% | -12.14% | 33.77% | 57.56% | -25.91% | 19.72% | -12.95% | 5.21% |
Correlation
The correlation between PSCM and DBE is -0.19, 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 | -0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Apr 7, 2010 | 0.25 |
The correlation between PSCM and DBE shifts across timeframes, from -0.19 (1 year) to 0.25 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PSCM vs. DBE — Risk / Return Rank
PSCM
DBE
PSCM vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Materials ETF (PSCM) 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.
| PSCM | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.19 | ||
| Sortino ratioReturn per unit of downside risk | -0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.26 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.18 | 2.16 | +0.02 |
| Martin ratioReturn relative to average drawdown | 7.41 | 6.57 | +0.85 |
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Drawdowns
PSCM vs. DBE - Drawdown Comparison
The maximum PSCM drawdown since its inception was -51.34%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for PSCM and DBE.
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Drawdown Indicators
| PSCM | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.34% | -86.69% | +35.35% |
Max Drawdown (1Y)Largest decline over 1 year | -14.33% | -24.72% | +10.39% |
Max Drawdown (3Y)Largest decline over 3 years | -35.36% | -24.72% | -10.64% |
Max Drawdown (5Y)Largest decline over 5 years | -35.36% | -38.74% | +3.38% |
Max Drawdown (10Y)Largest decline over 10 years | -51.34% | -60.84% | +9.50% |
Current DrawdownCurrent decline from peak | -10.37% | -36.95% | +26.58% |
Average DrawdownAverage peak-to-trough decline | -10.86% | -57.20% | +46.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.20% | 8.13% | -3.93% |
Volatility
PSCM vs. DBE - Volatility Comparison
The current volatility for Invesco S&P SmallCap Materials ETF (PSCM) is 7.31%, while Invesco DB Energy Fund (DBE) has a volatility of 12.49%. This indicates that PSCM 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
| PSCM | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.31% | 12.49% | -5.18% |
Volatility (6M)Calculated over the trailing 6-month period | 17.63% | 32.73% | -15.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.07% | 36.03% | -11.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.82% | 29.89% | -4.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.81% | 28.40% | -1.59% |
PSCM vs. DBE - Expense Ratio Comparison
PSCM has a 0.29% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
PSCM vs. DBE - Dividend Comparison
PSCM's dividend yield for the trailing twelve months is around 1.03%, less than DBE's 2.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.33% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% | 0.00% | 0.00% | 0.00% |
PSCM Invesco S&P SmallCap Materials ETF | 1.03% | 1.17% | 0.80% | 0.81% | 0.93% | 0.67% | 1.56% | 1.14% | 1.25% | 0.61% | 0.76% | 1.33% |
Frequently Asked Questions
PSCM and DBE have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBE has higher volatility (12.49%) compared to PSCM (7.31%). In terms of maximum drawdown, PSCM dropped -51.34% vs DBE's -86.69%.
On 10-year performance, DBE leads with 11.15% vs 10.97% for PSCM. On fees, PSCM is cheaper at 0.29% per year. On volatility, PSCM has been the lower-risk option at 7.31%. 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 11.15% return vs 10.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PSCM is cheaper with a 0.29% expense ratio, compared with 0.78% for DBE.
DBE has the higher dividend yield at 2.33%, compared with 1.03% for PSCM.
PSCM is categorized as Materials, while DBE is Oil & Gas. PSCM tracks S&P Small Cap 600 / Materials -SEC, while DBE tracks DBIQ Optimum Yield Energy Index. Their fees differ too: 0.29% for PSCM and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (1.49 vs 1.30), 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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