PSL vs. DBE
PSL (Invesco DWA Consumer Staples Momentum ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - PSL is a Momentum fund tracking the DWA Consumer Staples Technical Leaders Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 10 years, PSL returned 7.88%/yr vs 12.03%/yr for DBE. At a 0.18 correlation, their price movements are largely independent. PSL charges 0.60%/yr vs 0.78%/yr for DBE.
Performance
PSL vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, PSL achieves a 9.10% return, which is significantly lower than DBE's 83.68% return. Over the past 10 years, PSL has underperformed DBE with an annualized return of 7.88%, while DBE has yielded a comparatively higher 12.03% annualized return.
PSL
- 1D
- 0.57%
- 1M
- -1.77%
- YTD
- 9.10%
- 6M
- 9.15%
- 1Y
- -1.02%
- 3Y*
- 9.29%
- 5Y*
- 3.68%
- 10Y*
- 7.88%
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%
PSL vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PSL Invesco DWA Consumer Staples Momentum ETF | 9.10% | -3.47% | 15.42% | 12.32% | -7.76% | 6.88% | 18.15% | 14.16% | 0.92% | 21.82% |
DBE Invesco DB Energy Fund | 83.68% | -2.17% | 2.96% | -12.14% | 33.77% | 57.56% | -25.91% | 19.72% | -12.95% | 5.21% |
Correlation
The correlation between PSL and DBE is -0.13, 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 | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Jan 8, 2007 | 0.18 |
The correlation between PSL and DBE shifts across timeframes, from -0.13 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PSL vs. DBE — Risk / Return Rank
PSL
DBE
PSL vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Consumer Staples Momentum ETF (PSL) 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.
| PSL | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.51 | ||
| Sortino ratioReturn per unit of downside risk | -2.98 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.40 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | -0.08 | 5.89 | -5.97 |
| Martin ratioReturn relative to average drawdown | -0.17 | 11.53 | -11.70 |
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
| PSL | DBE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.08 | 2.43 | -2.51 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.24 | 0.67 | -0.43 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.48 | 0.43 | +0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.55 | 0.09 | +0.45 |
Drawdowns
PSL vs. DBE - Drawdown Comparison
The maximum PSL drawdown since its inception was -41.58%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for PSL and DBE.
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Drawdown Indicators
| PSL | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.58% | -86.69% | +45.11% |
Max Drawdown (1Y)Largest decline over 1 year | -13.64% | -14.41% | +0.77% |
Max Drawdown (3Y)Largest decline over 3 years | -13.64% | -23.89% | +10.25% |
Max Drawdown (5Y)Largest decline over 5 years | -22.35% | -38.74% | +16.39% |
Max Drawdown (10Y)Largest decline over 10 years | -34.67% | -60.84% | +26.17% |
Current DrawdownCurrent decline from peak | -6.41% | -30.27% | +23.86% |
Average DrawdownAverage peak-to-trough decline | -5.82% | -57.31% | +51.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.09% | 7.35% | -1.26% |
Volatility
PSL vs. DBE - Volatility Comparison
The current volatility for Invesco DWA Consumer Staples Momentum ETF (PSL) is 3.29%, while Invesco DB Energy Fund (DBE) has a volatility of 12.95%. This indicates that PSL 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
| PSL | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.29% | 12.95% | -9.66% |
Volatility (6M)Calculated over the trailing 6-month period | 8.51% | 30.86% | -22.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.80% | 34.97% | -22.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.15% | 29.39% | -14.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.50% | 28.33% | -11.83% |
PSL vs. DBE - Expense Ratio Comparison
PSL has a 0.60% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
PSL vs. DBE - Dividend Comparison
PSL's dividend yield for the trailing twelve months is around 0.84%, less than DBE's 2.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.10% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% | 0.00% | 0.00% | 0.00% |
PSL Invesco DWA Consumer Staples Momentum ETF | 0.84% | 0.93% | 0.60% | 1.37% | 1.98% | 1.24% | 0.80% | 0.47% | 0.75% | 0.34% | 2.08% | 1.18% |
Frequently Asked Questions
PSL and DBE have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBE has higher volatility (12.95%) compared to PSL (3.29%). In terms of maximum drawdown, PSL dropped -41.58% vs DBE's -86.69%.
On 10-year performance, DBE leads with 12.03% vs 7.88% for PSL. On fees, PSL is cheaper at 0.60% per year. On volatility, PSL has been the lower-risk option at 3.29%. 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 12.03% return vs 7.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PSL is cheaper with a 0.60% expense ratio, compared with 0.78% for DBE.
DBE has the higher dividend yield at 2.10%, compared with 0.84% for PSL.
PSL is categorized as Momentum, while DBE is Oil & Gas. PSL tracks DWA Consumer Staples Technical Leaders Index, while DBE tracks DBIQ Optimum Yield Energy Index. Their fees differ too: 0.60% for PSL and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (2.43 vs -0.08), 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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