QDTE vs. DBE
QDTE (Roundhill Innovation-100 0DTE Covered Call Strategy ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - QDTE is a Derivative Income fund actively managed by Roundhill, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. QDTE is actively managed, while DBE is passively managed. Over the past year, QDTE returned 40.36% vs 84.41% for DBE. At a correlation of -0.09, they often move in opposite directions. QDTE charges 0.97%/yr vs 0.78%/yr for DBE.
Performance
QDTE vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, QDTE achieves a 16.58% return, which is significantly lower than DBE's 83.68% return.
QDTE
- 1D
- -0.16%
- 1M
- 8.99%
- YTD
- 16.58%
- 6M
- 16.20%
- 1Y
- 40.36%
- 3Y*
- —
- 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%
QDTE vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF | 16.58% | 19.32% | 16.07% |
DBE Invesco DB Energy Fund | 83.68% | -2.17% | -1.51% |
Correlation
The correlation between QDTE and DBE is -0.31, 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 | -0.31 |
Correlation (All Time) Calculated using the full available price history since Mar 8, 2024 | -0.09 |
Over the past year, the inverse relationship between QDTE and DBE has strengthened: their correlation has moved from -0.09 to -0.31, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
QDTE vs. DBE — Risk / Return Rank
QDTE
DBE
QDTE vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) 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.
| QDTE | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.31 | ||
| Sortino ratioReturn per unit of downside risk | +0.54 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.40 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.98 | 5.89 | -1.91 |
| Martin ratioReturn relative to average drawdown | 16.08 | 11.53 | +4.55 |
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
| QDTE | DBE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.74 | 2.43 | +0.31 |
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 | 1.30 | 0.09 | +1.21 |
Drawdowns
QDTE vs. DBE - Drawdown Comparison
The maximum QDTE drawdown since its inception was -22.86%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for QDTE and DBE.
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Drawdown Indicators
| QDTE | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.86% | -86.69% | +63.83% |
Max Drawdown (1Y)Largest decline over 1 year | -10.20% | -14.41% | +4.21% |
Max Drawdown (3Y)Largest decline over 3 years | — | -23.89% | — |
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 | -0.16% | -30.27% | +30.11% |
Average DrawdownAverage peak-to-trough decline | -3.14% | -57.31% | +54.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.52% | 7.35% | -4.83% |
Volatility
QDTE vs. DBE - Volatility Comparison
The current volatility for Roundhill Innovation-100 0DTE Covered Call Strategy ETF (QDTE) is 3.75%, while Invesco DB Energy Fund (DBE) has a volatility of 12.95%. This indicates that QDTE 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
| QDTE | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.75% | 12.95% | -9.20% |
Volatility (6M)Calculated over the trailing 6-month period | 11.01% | 30.86% | -19.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.81% | 34.97% | -20.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.43% | 29.39% | -10.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.43% | 28.33% | -9.90% |
QDTE vs. DBE - Expense Ratio Comparison
QDTE has a 0.97% expense ratio, which is higher than DBE's 0.78% expense ratio.
Dividends
QDTE vs. DBE - Dividend Comparison
QDTE's dividend yield for the trailing twelve months is around 42.16%, more than DBE's 2.10% yield.
| 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% |
QDTE Roundhill Innovation-100 0DTE Covered Call Strategy ETF | 42.16% | 49.49% | 32.09% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
QDTE and DBE have a correlation of -0.31, 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 QDTE (3.75%). In terms of maximum drawdown, QDTE dropped -22.86% vs DBE's -86.69%.
On 1-year performance, DBE leads with 84.41% vs 40.36% for QDTE. On fees, DBE is cheaper at 0.78% per year. On volatility, QDTE has been the lower-risk option at 3.75%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DBE has performed better with a 84.41% return vs 40.36%. 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 0.97% for QDTE.
QDTE has the higher dividend yield at 42.16%, compared with 2.10% for DBE.
QDTE is categorized as Derivative Income, while DBE is Oil & Gas. They also come from different issuers: Roundhill and Invesco. Their fees differ too: 0.97% for QDTE and 0.78% for DBE.
QDTE currently has the higher Sharpe Ratio (2.74 vs 2.43), 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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