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QVMT vs. DBE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

QVMT vs. DBE

Last updated Jun 6, 2026

QVMT (Invesco S&P S&P 500 Concentrated QVM ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - QVMT is a S&P 500 fund tracking the S&P 500 Quality, Value & Momentum Multi-factor Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 10 years, QVMT returned 12.79%/yr vs 11.19%/yr for DBE. At a 0.26 correlation, their price movements are largely independent. QVMT charges 0.13%/yr vs 0.78%/yr for DBE.

Performance

QVMT vs. DBE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P S&P 500 Concentrated QVM ETF (QVMT) 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, QVMT achieves a 16.07% return, which is significantly lower than DBE's 75.49% return. Over the past 10 years, QVMT has outperformed DBE with an annualized return of 12.79%, while DBE has yielded a comparatively lower 11.19% annualized return.

QVMT

1D
-1.55%
1M
1.85%
YTD
16.07%
6M
18.74%
1Y
34.61%
3Y*
21.89%
5Y*
11.24%
10Y*
12.79%

DBE

1D
-1.98%
1M
-1.03%
YTD
75.49%
6M
64.58%
1Y
76.30%
3Y*
21.68%
5Y*
18.57%
10Y*
11.19%
*Multi-year figures are annualized to reflect compound growth (CAGR)

QVMT vs. DBE - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
QVMT
Invesco S&P S&P 500 Concentrated QVM ETF		16.07%19.08%14.40%11.71%-5.61%35.27%-9.98%28.86%-9.51%18.77%
DBE
Invesco DB Energy Fund		75.49%-2.17%2.96%-12.14%33.77%57.56%-25.91%19.72%-12.95%5.21%

Correlation

The correlation between QVMT and DBE is -0.14, 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

-0.14

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

0.08

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

0.22

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

0.26

Correlation (All Time)
Calculated using the full available price history since Oct 12, 2015

0.26

The correlation between QVMT and DBE shifts across timeframes, from -0.14 (1 year) to 0.26 (10 years), 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.

Invesco S&P S&P 500 Concentrated QVM ETF

Invesco DB Energy Fund

Often compared with QVMT:
QVMT vs. SPMOQVMT vs. SPVMQVMT vs. VOOQVMT vs. PBFRQVMT vs. HIBLQVMT vs. XCLRQVMT vs. SPHQ
Often compared with DBE:
DBE vs. DBBDBE vs. XLEDBE vs. VDEDBE vs. XLKDBE vs. COMTDBE vs. GLDDBE vs. TIP

Return for Risk

QVMT vs. DBE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
QVMT
QVMT Risk / Return Rank: 8888
Overall Rank
QVMT Sharpe Ratio Rank: 8888
Sharpe Ratio Rank
QVMT Sortino Ratio Rank: 9090
Sortino Ratio Rank
QVMT Omega Ratio Rank: 8383
Omega Ratio Rank
QVMT Calmar Ratio Rank: 9191
Calmar Ratio Rank
QVMT Martin Ratio Rank: 9090
Martin Ratio Rank
DBE
DBE Risk / Return Rank: 6969
Overall Rank
DBE Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
DBE Sortino Ratio Rank: 6161
Sortino Ratio Rank
DBE Omega Ratio Rank: 6363
Omega Ratio Rank
DBE Calmar Ratio Rank: 9090
Calmar Ratio Rank
DBE Martin Ratio Rank: 6060
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.

QVMT vs. DBE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P S&P 500 Concentrated QVM ETF (QVMT) 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.

QVMTDBEDifference
Sharpe ratioReturn per unit of total volatility
2.77
2.18

+0.59

Sortino ratioReturn per unit of downside risk
3.93
2.74

+1.19

Omega ratioGain probability vs. loss probability

1.47

1.37

+0.11

Calmar ratioReturn relative to maximum drawdown

5.56

5.32

+0.24

Martin ratioReturn relative to average drawdown

19.73

10.35

+9.38

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

QVMT vs. DBE - Sharpe Ratio Comparison

The current QVMT Sharpe Ratio is 2.77, which is comparable to the DBE Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of QVMT 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

QVMTDBEDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.77

2.18

+0.59

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.65

0.63

+0.02

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.61

0.40

+0.21

Sharpe Ratio (All Time)

Calculated using the full available price history

0.58

0.09

+0.50

Drawdowns

QVMT vs. DBE - Drawdown Comparison

The maximum QVMT drawdown since its inception was -48.05%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for QVMT and DBE.

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Drawdown Indicators

QVMTDBEDifference

Max Drawdown

Largest peak-to-trough decline

-48.05%

-86.69%

+38.64%

Max Drawdown (1Y)

Largest decline over 1 year

-6.25%

-14.41%

+8.16%

Max Drawdown (3Y)

Largest decline over 3 years

-14.42%

-23.89%

+9.47%

Max Drawdown (5Y)

Largest decline over 5 years

-21.95%

-38.74%

+16.79%

Max Drawdown (10Y)

Largest decline over 10 years

-48.05%

-60.84%

+12.79%

Current Drawdown

Current decline from peak

-1.55%

-33.38%

+31.83%

Average Drawdown

Average peak-to-trough decline

-6.34%

-57.30%

+50.96%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.76%

7.39%

-5.63%

Volatility

QVMT vs. DBE - Volatility Comparison

The current volatility for Invesco S&P S&P 500 Concentrated QVM ETF (QVMT) is 3.36%, while Invesco DB Energy Fund (DBE) has a volatility of 11.07%. This indicates that QVMT 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

QVMTDBEDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.36%

11.07%

-7.71%

Volatility (6M)

Calculated over the trailing 6-month period

9.09%

31.06%

-21.97%

Volatility (1Y)

Calculated over the trailing 1-year period

12.53%

35.12%

-22.59%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.29%

29.41%

-12.12%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.05%

28.34%

-7.29%

QVMT vs. DBE - Expense Ratio Comparison

QVMT has a 0.13% expense ratio, which is lower than DBE's 0.78% expense ratio.

Dividends

QVMT vs. DBE - Dividend Comparison

QVMT's dividend yield for the trailing twelve months is around 2.07%, less than DBE's 2.20% yield.

PositionTTM20252024202320222021202020192018201720162015
DBE
Invesco DB Energy Fund		2.20%3.86%6.32%3.87%0.75%0.00%0.00%1.79%1.67%0.00%0.00%0.00%
QVMT
Invesco S&P S&P 500 Concentrated QVM ETF		2.07%2.42%2.71%3.05%2.49%2.31%2.70%2.23%2.48%2.37%1.11%0.54%

Frequently Asked Questions

QVMT and DBE have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

DBE has higher volatility (11.07%) compared to QVMT (3.36%). In terms of maximum drawdown, QVMT dropped -48.05% vs DBE's -86.69%.

On 10-year performance, QVMT leads with 12.79% vs 11.19% for DBE. On fees, QVMT is cheaper at 0.13% per year. On volatility, QVMT has been the lower-risk option at 3.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, QVMT has performed better with a 12.79% return vs 11.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

QVMT is cheaper with a 0.13% expense ratio, compared with 0.78% for DBE.

DBE has the higher dividend yield at 2.20%, compared with 2.07% for QVMT.

QVMT is categorized as S&P 500, while DBE is Oil & Gas. QVMT tracks S&P 500 Quality, Value & Momentum Multi-factor Index, while DBE tracks DBIQ Optimum Yield Energy Index. Their fees differ too: 0.13% for QVMT and 0.78% for DBE.

QVMT currently has the higher Sharpe Ratio (2.77 vs 2.18), 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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