SPUC vs. DBE
SPUC (Simplify US Equity PLUS Upside Convexity ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - SPUC is a Large Cap Blend Equities fund actively managed by Simplify, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. SPUC is actively managed, while DBE is passively managed. Over the past 5 years, SPUC returned 12.89%/yr vs 17.23%/yr for DBE. At a 0.10 correlation, their price movements are largely independent. SPUC charges 0.53%/yr vs 0.78%/yr for DBE.
Performance
SPUC vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, SPUC achieves a 9.94% return, which is significantly lower than DBE's 69.05% return.
SPUC
- 1D
- 0.48%
- 1M
- 2.23%
- 6M
- 7.28%
- YTD
- 9.94%
- 1Y
- 21.71%
- 3Y*
- 21.68%
- 5Y*
- 12.89%
- 10Y*
- —
DBE
- 1D
- 1.79%
- 1M
- 0.60%
- 6M
- 61.38%
- YTD
- 69.05%
- 1Y
- 57.89%
- 3Y*
- 17.83%
- 5Y*
- 17.23%
- 10Y*
- 11.34%
SPUC vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
SPUC Simplify US Equity PLUS Upside Convexity ETF | 9.94% | 22.64% | 25.37% | 27.50% | -24.76% | 33.71% | 10.62% |
DBE Invesco DB Energy Fund | 69.05% | -2.17% | 2.96% | -12.14% | 33.77% | 57.56% | 9.27% |
Correlation
The correlation between SPUC and DBE is -0.24, 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 | -0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Sep 4, 2020 | 0.10 |
The correlation between SPUC and DBE shifts across timeframes, from -0.24 (1 year) to 0.10 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SPUC vs. DBE — Risk / Return Rank
SPUC
DBE
SPUC vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify US Equity PLUS Upside Convexity ETF (SPUC) 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.
| SPUC | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.28 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.89 | 2.35 | -0.47 |
| Martin ratioReturn relative to average drawdown | 6.31 | 7.10 | -0.80 |
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Drawdowns
SPUC vs. DBE - Drawdown Comparison
The maximum SPUC drawdown since its inception was -29.20%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for SPUC and DBE.
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Drawdown Indicators
| SPUC | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.20% | -86.69% | +57.49% |
Max Drawdown (1Y)Largest decline over 1 year | -11.56% | -24.72% | +13.16% |
Max Drawdown (3Y)Largest decline over 3 years | -28.17% | -24.72% | -3.45% |
Max Drawdown (5Y)Largest decline over 5 years | -29.20% | -38.74% | +9.54% |
Max Drawdown (10Y)Largest decline over 10 years | — | -60.84% | — |
Current DrawdownCurrent decline from peak | -0.27% | -35.82% | +35.55% |
Average DrawdownAverage peak-to-trough decline | -8.35% | -57.19% | +48.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.45% | 8.17% | -4.72% |
Volatility
SPUC vs. DBE - Volatility Comparison
The current volatility for Simplify US Equity PLUS Upside Convexity ETF (SPUC) is 3.87%, while Invesco DB Energy Fund (DBE) has a volatility of 12.20%. This indicates that SPUC 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
| SPUC | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.87% | 12.20% | -8.33% |
Volatility (6M)Calculated over the trailing 6-month period | 11.01% | 32.74% | -21.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.60% | 35.99% | -19.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.01% | 29.88% | -7.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.37% | 28.40% | -7.03% |
SPUC vs. DBE - Expense Ratio Comparison
SPUC has a 0.53% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
SPUC vs. DBE - Dividend Comparison
SPUC's dividend yield for the trailing twelve months is around 10.00%, 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% |
SPUC Simplify US Equity PLUS Upside Convexity ETF | 10.00% | 7.70% | 0.94% | 1.33% | 1.53% | 2.00% | 0.75% | 0.00% | 0.00% |
Frequently Asked Questions
SPUC and DBE have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBE has higher volatility (12.20%) compared to SPUC (3.87%). In terms of maximum drawdown, SPUC dropped -29.20% vs DBE's -86.69%.
On 5-year performance, DBE leads with 17.23% vs 12.89% for SPUC. On fees, SPUC is cheaper at 0.53% per year. On volatility, SPUC has been the lower-risk option at 3.87%. 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 17.23% return vs 12.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPUC is cheaper with a 0.53% expense ratio, compared with 0.78% for DBE.
SPUC has the higher dividend yield at 10.00%, compared with 2.29% for DBE.
SPUC is categorized as Large Cap Blend Equities, while DBE is Oil & Gas. They also come from different issuers: Simplify and Invesco. Their fees differ too: 0.53% for SPUC and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (1.62 vs 1.31), 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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