SHEH vs. DVXE

Last updated Jul 30, 2026

SHEH (Shell plc ADRhedged ETF) and DVXE (WEBs Energy XLE Defined Volatility ETF) are both Energy Equities funds - SHEH tracks the Shell plc - Benchmark Price Return while DVXE tracks the Syntax Defined Volatility XLE Index. Both are passively managed. Over the past year, SHEH returned 23.86% vs 47.26% for DVXE. Their 0.67 correlation means they have sometimes moved together and sometimes differently. SHEH charges 0.19%/yr vs 0.89%/yr for DVXE.

Performance

SHEH vs. DVXE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Shell plc ADRhedged ETF (SHEH) and WEBs Energy XLE Defined Volatility ETF (DVXE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SHEH achieves a 22.29% return, which is significantly lower than DVXE's 46.82% return.

SHEH

• 1D: 1.98%
• 1M: 13.74%
• 6M: 21.43%
• YTD: 22.29%
• 1Y: 23.86%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 28.80%

DVXE

• 1D: 2.48%
• 1M: 11.88%
• 6M: 26.64%
• YTD: 46.82%
• 1Y: 47.26%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 52.39%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DVXE WEBs Energy XLE Defined Volatility ETF	$11.58K	$10.69K	$16.85K
SHEH Shell plc ADRhedged ETF	$470.58K	$486.89K	$265.20K

SHEH vs. DVXE - Yearly Performance Comparison

	2026 (YTD)	2025
SHEH Shell plc ADRhedged ETF	22.29%	5.32%
DVXE WEBs Energy XLE Defined Volatility ETF	46.82%	4.49%

Correlation

The correlation between SHEH and DVXE is 0.67, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.67
Correlation (All Time) Calculated using the full available price history since Jul 23, 2025	0.67

The correlation between SHEH and DVXE has been stable across timeframes, ranging from 0.67 to 0.67 - a consistent structural relationship.

Return for Risk

SHEH vs. DVXE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SHEH

SHEH Risk / Return Rank: 45
SHEH Sharpe Ratio Rank: 49
SHEH Sortino Ratio Rank: 48
SHEH Omega Ratio Rank: 47
SHEH Calmar Ratio Rank: 41
SHEH Martin Ratio Rank: 38

DVXE

DVXE Risk / Return Rank: 61
DVXE Sharpe Ratio Rank: 69
DVXE Sortino Ratio Rank: 62
DVXE Omega Ratio Rank: 59
DVXE Calmar Ratio Rank: 65
DVXE Martin Ratio Rank: 47

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SHEH vs. DVXE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Shell plc ADRhedged ETF (SHEH) and WEBs Energy XLE Defined Volatility ETF (DVXE). 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.

	SHEH	DVXE	Difference
Sharpe ratio: Return per unit of total volatility	1.15	1.53	-0.39
Sortino ratio: Return per unit of downside risk	1.64	2.01	-0.38
Omega ratio: Gain probability vs. loss probability	1.20	1.25	-0.04
Calmar ratio: Return relative to maximum drawdown	1.37	2.18	-0.81
Martin ratio: Return relative to average drawdown	3.73	5.06	-1.33

SHEH vs. DVXE - Sharpe Ratio Comparison

The current SHEH Sharpe Ratio is 1.15, which is comparable to the DVXE Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of SHEH and DVXE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SHEH vs. DVXE - Drawdown Comparison

The maximum SHEH drawdown since its inception was -17.53%, smaller than the maximum DVXE drawdown of -21.83%. Use the drawdown chart below to compare losses from any high point for SHEH and DVXE.

Drawdown Indicators

	SHEH	DVXE	Difference
Max Drawdown Largest peak-to-trough decline	-17.53%	-21.83%	+4.30%
Max Drawdown (1Y) Largest decline over 1 year	-17.53%	-21.83%	+4.30%
Current Drawdown Current decline from peak	-5.72%	-10.87%	+5.15%
Average Drawdown Average peak-to-trough decline	-4.14%	-7.23%	+3.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.41%	9.45%	-3.04%

Volatility

SHEH vs. DVXE - Volatility Comparison

The current volatility for Shell plc ADRhedged ETF (SHEH) is 6.94%, while WEBs Energy XLE Defined Volatility ETF (DVXE) has a volatility of 8.56%. This indicates that SHEH experiences smaller price fluctuations and is considered to be less risky than DVXE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SHEH	DVXE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.94%	8.56%	-1.62%
Volatility (6M) Calculated over the trailing 6-month period	17.33%	22.35%	-5.02%
Volatility (1Y) Calculated over the trailing 1-year period	20.94%	31.03%	-10.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.54%	30.86%	-10.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.54%	30.86%	-10.32%

SHEH vs. DVXE - Expense Ratio Comparison

SHEH has a 0.19% expense ratio, which is lower than DVXE's 0.89% expense ratio.

Dividends

SHEH vs. DVXE - Dividend Comparison

SHEH's dividend yield for the trailing twelve months is around 1.90%, while DVXE has not paid dividends to shareholders.

Position	TTM
DVXE WEBs Energy XLE Defined Volatility ETF	0.00%
SHEH Shell plc ADRhedged ETF	1.90%

Frequently Asked Questions

Can I hold both SHEH and DVXE in my portfolio?

SHEH and DVXE have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SHEH or DVXE?

DVXE has higher volatility (8.56%) compared to SHEH (6.94%). In terms of maximum drawdown, SHEH dropped -17.53% vs DVXE's -21.83%.

Which ETF is better, SHEH or DVXE?

On 1-year performance, DVXE leads with 47.26% vs 23.86% for SHEH. On fees, SHEH is cheaper at 0.19% per year. On volatility, SHEH has been the lower-risk option at 6.94%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SHEH or DVXE?

Over the 1-year period, DVXE has performed better with a 47.26% return vs 23.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SHEH or DVXE?

SHEH is cheaper with a 0.19% expense ratio, compared with 0.89% for DVXE.

Which ETF pays a higher dividend yield, SHEH or DVXE?

SHEH has the higher dividend yield at 1.90%, compared with 0.00% for DVXE.

What is the main difference between SHEH and DVXE?

SHEH tracks Shell plc - Benchmark Price Return, while DVXE tracks Syntax Defined Volatility XLE Index. They also come from different issuers: ADRhedged and WEBs. Their fees differ too: 0.19% for SHEH and 0.89% for DVXE.

Which has better risk-adjusted returns?

DVXE currently has the higher Sharpe Ratio (1.53 vs 1.15), 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.