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SLVP vs. DBE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SLVP vs. DBE

Last updated Jun 3, 2026

SLVP (iShares MSCI Global Silver and Metals Miners ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - SLVP is a Silver fund tracking the MSCI ACWI Select Silver Miners Investable Market Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 10 years, SLVP returned 14.27%/yr vs 11.78%/yr for DBE. At a 0.16 correlation, their price movements are largely independent. SLVP charges 0.39%/yr vs 0.78%/yr for DBE.

Performance

SLVP vs. DBE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Global Silver and Metals Miners ETF (SLVP) 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, SLVP achieves a 7.79% return, which is significantly lower than DBE's 79.50% return. Over the past 10 years, SLVP has outperformed DBE with an annualized return of 14.27%, while DBE has yielded a comparatively lower 11.78% annualized return.

SLVP

1D
1.74%
1M
4.23%
YTD
7.79%
6M
18.02%
1Y
126.39%
3Y*
54.77%
5Y*
17.51%
10Y*
14.27%

DBE

1D
0.80%
1M
-3.65%
YTD
79.50%
6M
72.59%
1Y
82.31%
3Y*
22.48%
5Y*
19.20%
10Y*
11.78%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SLVP vs. DBE - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SLVP
iShares MSCI Global Silver and Metals Miners ETF		7.79%202.84%14.47%-2.31%-18.06%-23.53%56.45%37.71%-22.10%4.53%
DBE
Invesco DB Energy Fund		79.50%-2.17%2.96%-12.14%33.77%57.56%-25.91%19.72%-12.95%5.21%

Correlation

The correlation between SLVP and DBE is -0.17, 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

-0.17

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

0.03

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

0.13

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

0.12

Correlation (All Time)
Calculated using the full available price history since Feb 3, 2012

0.16

The correlation between SLVP and DBE shifts across timeframes, from -0.17 (1 year) to 0.16 (all time), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

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iShares MSCI Global Silver and Metals Miners ETF

Invesco DB Energy Fund

Often compared with SLVP:
SLVP vs. SLVSLVP vs. SILSLVP vs. SSLN.LSLVP vs. PSLVSLVP vs. SIVRSLVP vs. RINGSLVP vs. SLVR.DE
Often compared with DBE:
DBE vs. DBBDBE vs. XLEDBE vs. VDEDBE vs. COMTDBE vs. XLKDBE vs. GLDDBE vs. TIP

Return for Risk

SLVP vs. DBE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SLVP
SLVP Risk / Return Rank: 6565
Overall Rank
SLVP Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
SLVP Sortino Ratio Rank: 5353
Sortino Ratio Rank
SLVP Omega Ratio Rank: 5858
Omega Ratio Rank
SLVP Calmar Ratio Rank: 8080
Calmar Ratio Rank
SLVP Martin Ratio Rank: 6060
Martin Ratio Rank
DBE
DBE Risk / Return Rank: 7171
Overall Rank
DBE Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
DBE Sortino Ratio Rank: 6161
Sortino Ratio Rank
DBE Omega Ratio Rank: 6464
Omega Ratio Rank
DBE Calmar Ratio Rank: 9292
Calmar Ratio Rank
DBE Martin Ratio Rank: 6565
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.

SLVP vs. DBE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Global Silver and Metals Miners ETF (SLVP) 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.

SLVPDBEDifference

Sharpe ratio

Return per unit of total volatility

2.41

2.37

+0.04

Sortino ratio

Return per unit of downside risk

2.60

2.91

-0.30

Omega ratio

Gain probability vs. loss probability

1.36

1.39

-0.04

Calmar ratio

Return relative to maximum drawdown

4.19

6.10

-1.91

Martin ratio

Return relative to average drawdown

10.75

11.98

-1.23

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

SLVP vs. DBE - Sharpe Ratio Comparison

The current SLVP Sharpe Ratio is 2.41, which is comparable to the DBE Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of SLVP 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

SLVPDBEDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.41

2.37

+0.04

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.41

0.66

-0.25

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.34

0.42

-0.08

Sharpe Ratio (All Time)

Calculated using the full available price history

0.10

0.09

+0.01

Drawdowns

SLVP vs. DBE - Drawdown Comparison

The maximum SLVP drawdown since its inception was -80.47%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for SLVP and DBE.

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Drawdown Indicators

SLVPDBEDifference

Max Drawdown

Largest peak-to-trough decline

-80.47%

-86.69%

+6.22%

Max Drawdown (1Y)

Largest decline over 1 year

-33.57%

-14.41%

-19.16%

Max Drawdown (3Y)

Largest decline over 3 years

-33.57%

-23.89%

-9.68%

Max Drawdown (5Y)

Largest decline over 5 years

-54.78%

-38.74%

-16.04%

Max Drawdown (10Y)

Largest decline over 10 years

-62.03%

-60.84%

-1.19%

Current Drawdown

Current decline from peak

-22.25%

-31.85%

+9.60%

Average Drawdown

Average peak-to-trough decline

-46.82%

-57.31%

+10.49%

Ulcer Index

Depth and duration of drawdowns from previous peaks

13.08%

7.34%

+5.74%

Volatility

SLVP vs. DBE - Volatility Comparison

iShares MSCI Global Silver and Metals Miners ETF (SLVP) has a higher volatility of 16.92% compared to Invesco DB Energy Fund (DBE) at 13.47%. This indicates that SLVP'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

SLVPDBEDifference

Volatility (1M)

Calculated over the trailing 1-month period

16.92%

13.47%

+3.45%

Volatility (6M)

Calculated over the trailing 6-month period

42.90%

30.80%

+12.10%

Volatility (1Y)

Calculated over the trailing 1-year period

53.09%

35.02%

+18.07%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

42.73%

29.37%

+13.36%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

42.22%

28.33%

+13.89%

SLVP vs. DBE - Expense Ratio Comparison

SLVP has a 0.39% expense ratio, which is lower than DBE's 0.78% expense ratio.

Dividends

SLVP vs. DBE - Dividend Comparison

SLVP's dividend yield for the trailing twelve months is around 1.65%, less than DBE's 2.15% yield.

PositionTTM20252024202320222021202020192018201720162015
DBE
Invesco DB Energy Fund		2.15%3.86%6.32%3.87%0.75%0.00%0.00%1.79%1.67%0.00%0.00%0.00%
SLVP
iShares MSCI Global Silver and Metals Miners ETF		1.65%1.78%1.05%0.88%0.63%1.63%2.39%2.03%1.28%0.85%2.32%0.72%

Frequently Asked Questions

SLVP and DBE have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SLVP has higher volatility (16.92%) compared to DBE (13.47%). In terms of maximum drawdown, SLVP dropped -80.47% vs DBE's -86.69%.

On 10-year performance, SLVP leads with 14.27% vs 11.78% for DBE. On fees, SLVP is cheaper at 0.39% per year. On volatility, DBE has been the lower-risk option at 13.47%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SLVP has performed better with a 14.27% return vs 11.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SLVP is cheaper with a 0.39% expense ratio, compared with 0.78% for DBE.

DBE has the higher dividend yield at 2.15%, compared with 1.65% for SLVP.

SLVP is categorized as Silver, while DBE is Oil & Gas. SLVP tracks MSCI ACWI Select Silver Miners Investable Market Index, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.39% for SLVP and 0.78% for DBE.

SLVP currently has the higher Sharpe Ratio (2.41 vs 2.37), 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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