SKYU vs. DBE
SKYU (ProShares Ultra Nasdaq Cloud Computing ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - SKYU is a Leveraged Equities fund tracking the ISE Cloud Computing Index (200%), while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 5 years, SKYU returned 2.14%/yr vs 19.05%/yr for DBE. At a 0.08 correlation, their price movements are largely independent. SKYU charges 0.95%/yr vs 0.78%/yr for DBE.
Performance
SKYU vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, SKYU achieves a 20.72% return, which is significantly lower than DBE's 79.04% return.
SKYU
- 1D
- 0.53%
- 1M
- 27.03%
- YTD
- 20.72%
- 6M
- 18.01%
- 1Y
- 41.23%
- 3Y*
- 38.09%
- 5Y*
- 2.14%
- 10Y*
- —
DBE
- 1D
- -2.52%
- 1M
- -6.01%
- YTD
- 79.04%
- 6M
- 69.31%
- 1Y
- 81.31%
- 3Y*
- 22.41%
- 5Y*
- 19.05%
- 10Y*
- 11.58%
SKYU vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
SKYU ProShares Ultra Nasdaq Cloud Computing ETF | 20.72% | 2.76% | 65.79% | 105.76% | -75.95% | 7.15% |
DBE Invesco DB Energy Fund | 79.04% | -2.17% | 2.96% | -12.14% | 33.77% | 47.37% |
Correlation
The correlation between SKYU and DBE is -0.13, 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 | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Jan 22, 2021 | 0.08 |
The correlation between SKYU and DBE shifts across timeframes, from -0.13 (1 year) to 0.08 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
SKYU vs. DBE — Risk / Return Rank
SKYU
DBE
SKYU vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Nasdaq Cloud Computing ETF (SKYU) 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.
| SKYU | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.59 | ||
| Sortino ratioReturn per unit of downside risk | -1.52 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.39 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 0.82 | 5.67 | -4.85 |
| Martin ratioReturn relative to average drawdown | 1.73 | 11.08 | -9.35 |
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
| SKYU | DBE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.74 | 2.33 | -1.59 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.03 | 0.65 | -0.62 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.41 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.03 | 0.09 | -0.06 |
Drawdowns
SKYU vs. DBE - Drawdown Comparison
The maximum SKYU drawdown since its inception was -83.01%, roughly equal to the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for SKYU and DBE.
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Drawdown Indicators
| SKYU | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.01% | -86.69% | +3.68% |
Max Drawdown (1Y)Largest decline over 1 year | -50.23% | -14.41% | -35.82% |
Max Drawdown (3Y)Largest decline over 3 years | -55.71% | -23.89% | -31.82% |
Max Drawdown (5Y)Largest decline over 5 years | -83.01% | -38.74% | -44.27% |
Max Drawdown (10Y)Largest decline over 10 years | — | -60.84% | — |
Current DrawdownCurrent decline from peak | -22.26% | -32.03% | +9.77% |
Average DrawdownAverage peak-to-trough decline | -49.16% | -57.30% | +8.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 23.88% | 7.37% | +16.51% |
Volatility
SKYU vs. DBE - Volatility Comparison
ProShares Ultra Nasdaq Cloud Computing ETF (SKYU) has a higher volatility of 22.68% compared to Invesco DB Energy Fund (DBE) at 13.05%. This indicates that SKYU's price experiences larger fluctuations and is considered to be riskier 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
| SKYU | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 22.68% | 13.05% | +9.63% |
Volatility (6M)Calculated over the trailing 6-month period | 46.60% | 30.97% | +15.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.92% | 35.07% | +20.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 61.88% | 29.41% | +32.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 61.12% | 28.34% | +32.78% |
SKYU vs. DBE - Expense Ratio Comparison
SKYU has a 0.95% expense ratio, which is higher than DBE's 0.78% expense ratio.
Dividends
SKYU vs. DBE - Dividend Comparison
SKYU's dividend yield for the trailing twelve months is around 0.58%, less than DBE's 2.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.16% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% |
SKYU ProShares Ultra Nasdaq Cloud Computing ETF | 0.58% | 0.56% | 0.21% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SKYU and DBE have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SKYU has higher volatility (22.68%) compared to DBE (13.05%). In terms of maximum drawdown, SKYU dropped -83.01% vs DBE's -86.69%.
On 5-year performance, DBE leads with 19.05% vs 2.14% for SKYU. On fees, DBE is cheaper at 0.78% per year. On volatility, DBE has been the lower-risk option at 13.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DBE has performed better with a 19.05% return vs 2.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DBE is cheaper with a 0.78% expense ratio, compared with 0.95% for SKYU.
DBE has the higher dividend yield at 2.16%, compared with 0.58% for SKYU.
SKYU is categorized as Leveraged Equities, while DBE is Oil & Gas. SKYU tracks ISE Cloud Computing Index (200%), while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: ProShares and Invesco. Their fees differ too: 0.95% for SKYU and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (2.33 vs 0.74), 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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