SHE vs. DBE
SHE (SPDR SSGA Gender Diversity Index ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - SHE is a Large Cap Growth Equities fund tracking the SSGA Gender Diversity (TR), while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 10 years, SHE returned 12.10%/yr vs 11.45%/yr for DBE. At a 0.18 correlation, their price movements are largely independent. SHE charges 0.20%/yr vs 0.78%/yr for DBE.
Performance
SHE vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, SHE achieves a 16.45% return, which is significantly lower than DBE's 68.39% return. Over the past 10 years, SHE has outperformed DBE with an annualized return of 12.10%, while DBE has yielded a comparatively lower 11.45% annualized return.
SHE
- 1D
- -0.27%
- 1M
- -1.23%
- 6M
- 14.35%
- YTD
- 16.45%
- 1Y
- 24.76%
- 3Y*
- 21.05%
- 5Y*
- 9.85%
- 10Y*
- 12.10%
DBE
- 1D
- -1.09%
- 1M
- 6.25%
- 6M
- 65.69%
- YTD
- 68.39%
- 1Y
- 57.64%
- 3Y*
- 17.96%
- 5Y*
- 17.10%
- 10Y*
- 11.45%
SHE vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SHE SPDR SSGA Gender Diversity Index ETF | 16.45% | 15.50% | 23.35% | 22.37% | -21.73% | 15.17% | 17.93% | 23.63% | -3.48% | 19.56% |
DBE Invesco DB Energy Fund | 68.39% | -2.17% | 2.96% | -12.14% | 33.77% | 57.56% | -25.91% | 19.72% | -12.95% | 5.21% |
Correlation
The correlation between SHE and DBE is -0.23, 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 | -0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.18 |
Correlation (All Time) Calculated using the full available price history since Mar 8, 2016 | 0.18 |
The correlation between SHE and DBE shifts across timeframes, from -0.23 (1 year) to 0.18 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SHE vs. DBE — Risk / Return Rank
SHE
DBE
SHE vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR SSGA Gender Diversity Index ETF (SHE) 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SHE | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.28 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.91 | 2.34 | +0.57 |
| Martin ratioReturn relative to average drawdown | 10.92 | 7.00 | +3.92 |
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Drawdowns
SHE vs. DBE - Drawdown Comparison
The maximum SHE drawdown since its inception was -35.80%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for SHE and DBE.
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Drawdown Indicators
| SHE | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.80% | -86.69% | +50.89% |
Max Drawdown (1Y)Largest decline over 1 year | -8.54% | -24.72% | +16.18% |
Max Drawdown (3Y)Largest decline over 3 years | -17.07% | -24.72% | +7.65% |
Max Drawdown (5Y)Largest decline over 5 years | -31.69% | -38.74% | +7.05% |
Max Drawdown (10Y)Largest decline over 10 years | -35.80% | -60.84% | +25.04% |
Current DrawdownCurrent decline from peak | -3.17% | -36.07% | +32.90% |
Average DrawdownAverage peak-to-trough decline | -6.26% | -57.19% | +50.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.27% | 8.26% | -5.99% |
Volatility
SHE vs. DBE - Volatility Comparison
The current volatility for SPDR SSGA Gender Diversity Index ETF (SHE) is 3.07%, while Invesco DB Energy Fund (DBE) has a volatility of 11.68%. This indicates that SHE 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
| SHE | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.07% | 11.68% | -8.61% |
Volatility (6M)Calculated over the trailing 6-month period | 10.96% | 32.70% | -21.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.41% | 35.99% | -22.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.30% | 29.88% | -12.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.99% | 28.39% | -10.40% |
SHE vs. DBE - Expense Ratio Comparison
SHE has a 0.20% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
SHE vs. DBE - Dividend Comparison
SHE's dividend yield for the trailing twelve months is around 1.09%, less than DBE's 2.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.29% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% | 0.00% | 0.00% |
SHE SPDR SSGA Gender Diversity Index ETF | 1.09% | 1.18% | 1.14% | 1.37% | 1.54% | 0.99% | 1.24% | 1.91% | 7.39% | 5.37% | 6.41% |
Frequently Asked Questions
SHE and DBE have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBE has higher volatility (11.68%) compared to SHE (3.07%). In terms of maximum drawdown, SHE dropped -35.80% vs DBE's -86.69%.
On 10-year performance, SHE leads with 12.10% vs 11.45% for DBE. On fees, SHE is cheaper at 0.20% per year. On volatility, SHE has been the lower-risk option at 3.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SHE has performed better with a 12.10% return vs 11.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SHE is cheaper with a 0.20% expense ratio, compared with 0.78% for DBE.
DBE has the higher dividend yield at 2.29%, compared with 1.09% for SHE.
SHE is categorized as Large Cap Growth Equities, while DBE is Oil & Gas. SHE tracks SSGA Gender Diversity (TR), while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.20% for SHE and 0.78% for DBE.
SHE currently has the higher Sharpe Ratio (1.85 vs 1.61), 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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