SMCF vs. DBE
SMCF (Themes US Small Cap Cash Flow Champions ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - SMCF is a Small Cap Value Equities fund tracking the Solactive US Small Cap Cash Flow Champions Index - Benchmark TR Gross, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past year, SMCF returned 33.20% vs 57.64% for DBE. At a 0.11 correlation, their price movements are largely independent. SMCF charges 0.29%/yr vs 0.78%/yr for DBE.
Performance
SMCF vs. DBE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SMCF achieves a 22.10% return, which is significantly lower than DBE's 68.39% return.
SMCF
- 1D
- 1.08%
- 1M
- 5.07%
- 6M
- 16.50%
- YTD
- 22.10%
- 1Y
- 33.20%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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%
SMCF vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SMCF Themes US Small Cap Cash Flow Champions ETF | 22.10% | 9.56% | 16.30% | 7.07% |
DBE Invesco DB Energy Fund | 68.39% | -2.17% | 2.96% | 2.43% |
Correlation
The correlation between SMCF and DBE is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.08 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2023 | 0.11 |
The correlation between SMCF and DBE shifts across timeframes, from -0.08 (1 year) to 0.11 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SMCF vs. DBE — Risk / Return Rank
SMCF
DBE
SMCF vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Themes US Small Cap Cash Flow Champions ETF (SMCF) 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.
| SMCF | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.54 | ||
| Sortino ratioReturn per unit of downside risk | +0.89 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.28 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 4.68 | 2.34 | +2.33 |
| Martin ratioReturn relative to average drawdown | 12.59 | 7.00 | +5.60 |
Loading charts...
Drawdowns
SMCF vs. DBE - Drawdown Comparison
The maximum SMCF drawdown since its inception was -28.48%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for SMCF and DBE.
Loading charts...
Drawdown Indicators
| SMCF | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.48% | -86.69% | +58.21% |
Max Drawdown (1Y)Largest decline over 1 year | -7.13% | -24.72% | +17.59% |
Max Drawdown (3Y)Largest decline over 3 years | — | -24.72% | — |
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 | 0.00% | -36.07% | +36.07% |
Average DrawdownAverage peak-to-trough decline | -5.07% | -57.19% | +52.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.64% | 8.26% | -5.62% |
Volatility
SMCF vs. DBE - Volatility Comparison
The current volatility for Themes US Small Cap Cash Flow Champions ETF (SMCF) is 2.21%, while Invesco DB Energy Fund (DBE) has a volatility of 11.68%. This indicates that SMCF 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.
Loading charts...
Volatility by Period
| SMCF | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.21% | 11.68% | -9.47% |
Volatility (6M)Calculated over the trailing 6-month period | 9.37% | 32.70% | -23.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.53% | 35.99% | -20.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.99% | 29.88% | -9.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.99% | 28.39% | -8.40% |
SMCF vs. DBE - Expense Ratio Comparison
SMCF has a 0.29% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
SMCF vs. DBE - Dividend Comparison
SMCF's dividend yield for the trailing twelve months is around 3.20%, more than DBE's 2.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.29% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% |
SMCF Themes US Small Cap Cash Flow Champions ETF | 3.20% | 3.91% | 0.61% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SMCF and DBE have a correlation of -0.08, 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 SMCF (2.21%). In terms of maximum drawdown, SMCF dropped -28.48% vs DBE's -86.69%.
On 1-year performance, DBE leads with 57.64% vs 33.20% for SMCF. On fees, SMCF is cheaper at 0.29% per year. On volatility, SMCF has been the lower-risk option at 2.21%. 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 57.64% return vs 33.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SMCF is cheaper with a 0.29% expense ratio, compared with 0.78% for DBE.
SMCF has the higher dividend yield at 3.20%, compared with 2.29% for DBE.
SMCF is categorized as Small Cap Value Equities, while DBE is Oil & Gas. SMCF tracks Solactive US Small Cap Cash Flow Champions Index - Benchmark TR Gross, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: Themes and Invesco. Their fees differ too: 0.29% for SMCF and 0.78% for DBE.
SMCF currently has the higher Sharpe Ratio (2.15 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.
Find the right allocation for SMCF and DBE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer