QQA vs. DBE

Last updated Jun 4, 2026

QQA (Invesco QQQ Income Advantage ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - QQA is a Derivative Income fund actively managed by Invesco, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. QQA is actively managed, while DBE is passively managed. Over the past year, QQA returned 32.22% vs 84.41% for DBE. At a correlation of -0.11, they often move in opposite directions. QQA charges 0.29%/yr vs 0.78%/yr for DBE.

Performance

QQA vs. DBE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco QQQ Income Advantage ETF (QQA) and Invesco DB Energy Fund (DBE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QQA achieves a 14.57% return, which is significantly lower than DBE's 83.68% return.

QQA

• 1D: -0.10%
• 1M: 7.03%
• YTD: 14.57%
• 6M: 14.20%
• 1Y: 32.22%
• 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%

*Multi-year figures are annualized to reflect compound growth (CAGR)

QQA vs. DBE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QQA Invesco QQQ Income Advantage ETF	14.57%	17.24%	7.11%
DBE Invesco DB Energy Fund	83.68%	-2.17%	-4.62%

Correlation

The correlation between QQA 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 Jul 18, 2024	-0.11

Over the past year, the inverse relationship between QQA and DBE has strengthened: their correlation has moved from -0.11 to -0.31, meaning they now move in opposite directions more often than their long-term average.

Return for Risk

QQA vs. DBE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

QQA

QQA Risk / Return Rank: 77
QQA Sharpe Ratio Rank: 77
QQA Sortino Ratio Rank: 75
QQA Omega Ratio Rank: 76
QQA Calmar Ratio Rank: 73
QQA Martin Ratio Rank: 81

DBE

DBE Risk / Return Rank: 71
DBE Sharpe Ratio Rank: 74
DBE Sortino Ratio Rank: 63
DBE Omega Ratio Rank: 65
DBE Calmar Ratio Rank: 91
DBE Martin Ratio Rank: 63

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.

QQA vs. DBE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco QQQ Income Advantage ETF (QQA) 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.

	QQA	DBE	Difference
Sharpe ratio Return per unit of total volatility	2.57	2.43	+0.14
Sortino ratio Return per unit of downside risk	3.47	2.96	+0.51
Omega ratio Gain probability vs. loss probability	1.46	1.40	+0.06
Calmar ratio Return relative to maximum drawdown	3.70	5.89	-2.19
Martin ratio Return relative to average drawdown	16.59	11.53	+5.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QQA vs. DBE - Sharpe Ratio Comparison

The current QQA Sharpe Ratio is 2.57, which is comparable to the DBE Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of QQA 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.

Sharpe Ratios by Period

	QQA	DBE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.57	2.43	+0.14
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	1.18	0.09	+1.08

Drawdowns

QQA vs. DBE - Drawdown Comparison

The maximum QQA drawdown since its inception was -19.73%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for QQA and DBE.

Drawdown Indicators

	QQA	DBE	Difference
Max Drawdown Largest peak-to-trough decline	-19.73%	-86.69%	+66.96%
Max Drawdown (1Y) Largest decline over 1 year	-8.76%	-14.41%	+5.65%
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 Drawdown Current decline from peak	-0.10%	-30.27%	+30.17%
Average Drawdown Average peak-to-trough decline	-2.44%	-57.31%	+54.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	7.35%	-5.40%

Volatility

QQA vs. DBE - Volatility Comparison

The current volatility for Invesco QQQ Income Advantage ETF (QQA) is 2.91%, while Invesco DB Energy Fund (DBE) has a volatility of 12.95%. This indicates that QQA 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.

Volatility by Period

	QQA	DBE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.91%	12.95%	-10.04%
Volatility (6M) Calculated over the trailing 6-month period	9.68%	30.86%	-21.18%
Volatility (1Y) Calculated over the trailing 1-year period	12.59%	34.97%	-22.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.27%	29.39%	-11.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.27%	28.33%	-10.06%

QQA vs. DBE - Expense Ratio Comparison

QQA has a 0.29% expense ratio, which is lower than DBE's 0.78% expense ratio.

Dividends

QQA vs. DBE - Dividend Comparison

QQA's dividend yield for the trailing twelve months is around 9.29%, 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%
QQA Invesco QQQ Income Advantage ETF	9.29%	9.78%	4.29%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QQA and DBE in my portfolio?

QQA 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.

Which is riskier, QQA or DBE?

DBE has higher volatility (12.95%) compared to QQA (2.91%). In terms of maximum drawdown, QQA dropped -19.73% vs DBE's -86.69%.

Which ETF is better, QQA or DBE?

On 1-year performance, DBE leads with 84.41% vs 32.22% for QQA. On fees, QQA is cheaper at 0.29% per year. On volatility, QQA has been the lower-risk option at 2.91%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQA or DBE?

Over the 1-year period, DBE has performed better with a 84.41% return vs 32.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQA or DBE?

QQA is cheaper with a 0.29% expense ratio, compared with 0.78% for DBE.

Which ETF pays a higher dividend yield, QQA or DBE?

QQA has the higher dividend yield at 9.29%, compared with 2.10% for DBE.

What is the main difference between QQA and DBE?

QQA is categorized as Derivative Income, while DBE is Oil & Gas. Their fees differ too: 0.29% for QQA and 0.78% for DBE.

Which has better risk-adjusted returns?

QQA currently has the higher Sharpe Ratio (2.57 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.