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QQEW vs. DBE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QQEW vs. DBE

Last updated Jun 4, 2026

QQEW (First Trust Nasdaq-100 Equal Weighted Index Fund) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - QQEW is a Nasdaq-100 fund tracking the NASDAQ-100 Equal Weighted Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 10 years, QQEW returned 14.57%/yr vs 12.03%/yr for DBE. At a 0.23 correlation, their price movements are largely independent. QQEW charges 0.58%/yr vs 0.78%/yr for DBE.

Performance

QQEW vs. DBE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Nasdaq-100 Equal Weighted Index Fund (QQEW) and Invesco DB Energy Fund (DBE). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, QQEW achieves a 12.15% return, which is significantly lower than DBE's 83.68% return. Over the past 10 years, QQEW has outperformed DBE with an annualized return of 14.57%, while DBE has yielded a comparatively lower 12.03% annualized return.

QQEW

1D
-0.78%
1M
14.51%
YTD
12.15%
6M
10.58%
1Y
20.94%
3Y*
16.13%
5Y*
8.78%
10Y*
14.57%

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)

QQEW vs. DBE - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
QQEW
First Trust Nasdaq-100 Equal Weighted Index Fund		12.15%14.22%7.00%33.31%-24.59%17.75%37.30%35.87%-5.30%26.04%
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 QQEW and DBE is -0.29, 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

-0.29

Correlation (3Y)
Calculated over the trailing 3-year period

-0.06

Correlation (5Y)
Calculated over the trailing 5-year period

0.06

Correlation (10Y)
Calculated over the trailing 10-year period

0.15

Correlation (All Time)
Calculated using the full available price history since Jan 8, 2007

0.23

The correlation between QQEW and DBE shifts across timeframes, from -0.29 (1 year) to 0.23 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

First Trust Nasdaq-100 Equal Weighted Index Fund

Invesco DB Energy Fund

Often compared with QQEW:
QQEW vs. QQQQQEW vs. QQQEQQEW vs. QQQMQQEW vs. QQMGQQEW vs. VOOQQEW vs. SPYQQEW vs. VUG
Often compared with DBE:
DBE vs. DBBDBE vs. XLEDBE vs. VDEDBE vs. COMTDBE vs. XLKDBE vs. GLDDBE vs. TIP

Return for Risk

QQEW vs. DBE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QQEW
QQEW Risk / Return Rank: 3131
Overall Rank
QQEW Sharpe Ratio Rank: 3434
Sharpe Ratio Rank
QQEW Sortino Ratio Rank: 3333
Sortino Ratio Rank
QQEW Omega Ratio Rank: 3232
Omega Ratio Rank
QQEW Calmar Ratio Rank: 2727
Calmar Ratio Rank
QQEW Martin Ratio Rank: 2828
Martin Ratio Rank
DBE
DBE Risk / Return Rank: 7171
Overall Rank
DBE Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
DBE Sortino Ratio Rank: 6363
Sortino Ratio Rank
DBE Omega Ratio Rank: 6565
Omega Ratio Rank
DBE Calmar Ratio Rank: 9191
Calmar Ratio Rank
DBE Martin Ratio Rank: 6363
Martin Ratio Rank
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.

QQEW vs. DBE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Nasdaq-100 Equal Weighted Index Fund (QQEW) 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.

QQEWDBEDifference
Sharpe ratioReturn per unit of total volatility
1.25
2.43

-1.17

Sortino ratioReturn per unit of downside risk
1.81
2.96

-1.14

Omega ratioGain probability vs. loss probability

1.22

1.40

-0.18

Calmar ratioReturn relative to maximum drawdown

1.34

5.89

-4.55

Martin ratioReturn relative to average drawdown

4.09

11.53

-7.44

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QQEW vs. DBE - Sharpe Ratio Comparison

The current QQEW Sharpe Ratio is 1.25, which is lower than the DBE Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of QQEW 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.

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Sharpe Ratios by Period

QQEWDBEDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.25

2.43

-1.17

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.43

0.67

-0.25

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.70

0.43

+0.27

Sharpe Ratio (All Time)

Calculated using the full available price history

0.54

0.09

+0.44

Drawdowns

QQEW vs. DBE - Drawdown Comparison

The maximum QQEW drawdown since its inception was -58.16%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for QQEW and DBE.

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Drawdown Indicators

QQEWDBEDifference

Max Drawdown

Largest peak-to-trough decline

-58.16%

-86.69%

+28.53%

Max Drawdown (1Y)

Largest decline over 1 year

-15.74%

-14.41%

-1.33%

Max Drawdown (3Y)

Largest decline over 3 years

-21.43%

-23.89%

+2.46%

Max Drawdown (5Y)

Largest decline over 5 years

-32.12%

-38.74%

+6.62%

Max Drawdown (10Y)

Largest decline over 10 years

-32.12%

-60.84%

+28.72%

Current Drawdown

Current decline from peak

-1.53%

-30.27%

+28.74%

Average Drawdown

Average peak-to-trough decline

-8.30%

-57.31%

+49.01%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.13%

7.35%

-2.22%

Volatility

QQEW vs. DBE - Volatility Comparison

The current volatility for First Trust Nasdaq-100 Equal Weighted Index Fund (QQEW) is 5.54%, while Invesco DB Energy Fund (DBE) has a volatility of 12.95%. This indicates that QQEW 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

QQEWDBEDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.54%

12.95%

-7.41%

Volatility (6M)

Calculated over the trailing 6-month period

13.85%

30.86%

-17.01%

Volatility (1Y)

Calculated over the trailing 1-year period

16.81%

34.97%

-18.16%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.76%

29.39%

-8.63%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.87%

28.33%

-7.46%

QQEW vs. DBE - Expense Ratio Comparison

QQEW has a 0.58% expense ratio, which is lower than DBE's 0.78% expense ratio.

Dividends

QQEW vs. DBE - Dividend Comparison

QQEW's dividend yield for the trailing twelve months is around 0.28%, less than DBE's 2.10% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
QQEW
First Trust Nasdaq-100 Equal Weighted Index Fund		0.28%0.41%0.57%0.70%0.66%0.24%0.34%0.48%0.56%0.48%0.73%0.61%

Frequently Asked Questions

QQEW and DBE have a correlation of -0.29, 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 QQEW (5.54%). In terms of maximum drawdown, QQEW dropped -58.16% vs DBE's -86.69%.

On 10-year performance, QQEW leads with 14.57% vs 12.03% for DBE. On fees, QQEW is cheaper at 0.58% per year. On volatility, QQEW has been the lower-risk option at 5.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, QQEW has performed better with a 14.57% return vs 12.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QQEW is cheaper with a 0.58% expense ratio, compared with 0.78% for DBE.

DBE has the higher dividend yield at 2.10%, compared with 0.28% for QQEW.

QQEW is categorized as Nasdaq-100, while DBE is Oil & Gas. QQEW tracks NASDAQ-100 Equal Weighted Index, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: First Trust and Invesco. Their fees differ too: 0.58% for QQEW and 0.78% for DBE.

DBE currently has the higher Sharpe Ratio (2.43 vs 1.25), 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.

Portfolio Optimizer

Find the right allocation for QQEW and DBE

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