SEPU vs. DBE
SEPU (AllianzIM U.S. Equity Buffer15 Uncapped Sep ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - SEPU is a Defined Outcome fund actively managed by Allianz, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. SEPU is actively managed, while DBE is passively managed. Over the past year, SEPU returned 18.78% vs 76.30% for DBE. At a correlation of -0.14, they often move in opposite directions. SEPU charges 0.74%/yr vs 0.78%/yr for DBE.
Performance
SEPU vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, SEPU achieves a 6.03% return, which is significantly lower than DBE's 75.49% return.
SEPU
- 1D
- -2.54%
- 1M
- 0.10%
- YTD
- 6.03%
- 6M
- 5.65%
- 1Y
- 18.78%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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%
SEPU vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
SEPU AllianzIM U.S. Equity Buffer15 Uncapped Sep ETF | 6.03% | 12.32% | 4.59% |
DBE Invesco DB Energy Fund | 75.49% | -2.17% | 5.70% |
Correlation
The correlation between SEPU and DBE is -0.30, 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 | -0.30 |
Correlation (All Time) Calculated using the full available price history since Sep 4, 2024 | -0.14 |
The correlation between SEPU and DBE shifts across timeframes, from -0.30 (1 year) to -0.14 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SEPU vs. DBE — Risk / Return Rank
SEPU
DBE
SEPU vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Equity Buffer15 Uncapped Sep ETF (SEPU) 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.
| SEPU | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.37 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.03 | 5.32 | -2.29 |
| Martin ratioReturn relative to average drawdown | 12.13 | 10.35 | +1.78 |
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
| SEPU | DBE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.94 | 2.18 | -0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.63 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.40 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.23 | 0.09 | +1.14 |
Drawdowns
SEPU vs. DBE - Drawdown Comparison
The maximum SEPU drawdown since its inception was -11.76%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for SEPU and DBE.
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Drawdown Indicators
| SEPU | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.76% | -86.69% | +74.93% |
Max Drawdown (1Y)Largest decline over 1 year | -6.23% | -14.41% | +8.18% |
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 | -2.73% | -33.38% | +30.65% |
Average DrawdownAverage peak-to-trough decline | -1.72% | -57.30% | +55.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.55% | 7.39% | -5.84% |
Volatility
SEPU vs. DBE - Volatility Comparison
The current volatility for AllianzIM U.S. Equity Buffer15 Uncapped Sep ETF (SEPU) is 3.53%, while Invesco DB Energy Fund (DBE) has a volatility of 11.07%. This indicates that SEPU 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
| SEPU | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.53% | 11.07% | -7.54% |
Volatility (6M)Calculated over the trailing 6-month period | 7.31% | 31.06% | -23.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.72% | 35.12% | -25.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.90% | 29.41% | -18.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.90% | 28.34% | -17.44% |
SEPU vs. DBE - Expense Ratio Comparison
SEPU has a 0.74% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
SEPU vs. DBE - Dividend Comparison
SEPU has not paid dividends to shareholders, while DBE's dividend yield for the trailing twelve months is around 2.20%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.20% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% |
SEPU AllianzIM U.S. Equity Buffer15 Uncapped Sep ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SEPU and DBE have a correlation of -0.30, 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 SEPU (3.53%). In terms of maximum drawdown, SEPU dropped -11.76% vs DBE's -86.69%.
On 1-year performance, DBE leads with 76.30% vs 18.78% for SEPU. On fees, SEPU is cheaper at 0.74% per year. On volatility, SEPU has been the lower-risk option at 3.53%. 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 76.30% return vs 18.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SEPU is cheaper with a 0.74% expense ratio, compared with 0.78% for DBE.
DBE has the higher dividend yield at 2.20%, compared with 0.00% for SEPU.
SEPU is categorized as Defined Outcome, while DBE is Oil & Gas. They also come from different issuers: Allianz and Invesco. Their fees differ too: 0.74% for SEPU and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (2.18 vs 1.94), 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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