TBLU vs. DBE
TBLU (Tortoise Global Water Fund) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - TBLU is a Water Equities fund tracking the Tortoise Global Water ESG Net Total Return Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 5 years, TBLU returned 4.30%/yr vs 16.54%/yr for DBE. At a 0.11 correlation, their price movements are largely independent. TBLU charges 0.40%/yr vs 0.78%/yr for DBE.
Performance
TBLU vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, TBLU achieves a 1.94% return, which is significantly lower than DBE's 66.08% return.
TBLU
- 1D
- -0.30%
- 1M
- 2.88%
- 6M
- -2.01%
- YTD
- 1.94%
- 1Y
- -0.39%
- 3Y*
- 9.26%
- 5Y*
- 4.30%
- 10Y*
- —
DBE
- 1D
- 6.87%
- 1M
- -1.18%
- 6M
- 62.18%
- YTD
- 66.08%
- 1Y
- 53.22%
- 3Y*
- 17.13%
- 5Y*
- 16.54%
- 10Y*
- 11.15%
TBLU vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TBLU Tortoise Global Water Fund | 1.94% | 11.82% | 8.54% | 20.95% | -25.99% | 28.93% | 15.74% | 38.72% | -12.80% | 20.81% |
DBE Invesco DB Energy Fund | 66.08% | -2.17% | 2.96% | -12.14% | 33.77% | 57.56% | -25.91% | 19.72% | -12.95% | 10.66% |
Correlation
The correlation between TBLU and DBE is -0.38, 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 | -0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.11 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Feb 15, 2017 | 0.11 |
The correlation between TBLU and DBE shifts across timeframes, from -0.38 (1 year) to 0.11 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TBLU vs. DBE — Risk / Return Rank
TBLU
DBE
TBLU vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tortoise Global Water Fund (TBLU) 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.
| TBLU | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.51 | ||
| Sortino ratioReturn per unit of downside risk | -2.02 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.26 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | -0.03 | 2.16 | -2.19 |
| Martin ratioReturn relative to average drawdown | -0.06 | 6.57 | -6.63 |
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Drawdowns
TBLU vs. DBE - Drawdown Comparison
The maximum TBLU drawdown since its inception was -37.58%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for TBLU and DBE.
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Drawdown Indicators
| TBLU | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.58% | -86.69% | +49.11% |
Max Drawdown (1Y)Largest decline over 1 year | -13.17% | -24.72% | +11.55% |
Max Drawdown (3Y)Largest decline over 3 years | -15.42% | -24.72% | +9.30% |
Max Drawdown (5Y)Largest decline over 5 years | -35.36% | -38.74% | +3.38% |
Max Drawdown (10Y)Largest decline over 10 years | — | -60.84% | — |
Current DrawdownCurrent decline from peak | -8.11% | -36.95% | +28.84% |
Average DrawdownAverage peak-to-trough decline | -8.16% | -57.20% | +49.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.24% | 8.13% | -1.89% |
Volatility
TBLU vs. DBE - Volatility Comparison
The current volatility for Tortoise Global Water Fund (TBLU) is 4.22%, while Invesco DB Energy Fund (DBE) has a volatility of 12.49%. This indicates that TBLU 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
| TBLU | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.22% | 12.49% | -8.27% |
Volatility (6M)Calculated over the trailing 6-month period | 11.92% | 32.73% | -20.81% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.86% | 36.03% | -21.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.38% | 29.89% | -12.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.92% | 28.40% | -9.48% |
TBLU vs. DBE - Expense Ratio Comparison
TBLU has a 0.40% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
TBLU vs. DBE - Dividend Comparison
TBLU's dividend yield for the trailing twelve months is around 3.47%, more than DBE's 2.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.33% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% | 0.00% |
TBLU Tortoise Global Water Fund | 3.47% | 3.31% | 1.34% | 1.46% | 1.64% | 1.55% | 1.42% | 1.58% | 1.35% | 1.32% |
Frequently Asked Questions
TBLU and DBE have a correlation of -0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBE has higher volatility (12.49%) compared to TBLU (4.22%). In terms of maximum drawdown, TBLU dropped -37.58% vs DBE's -86.69%.
On 5-year performance, DBE leads with 16.54% vs 4.30% for TBLU. On fees, TBLU is cheaper at 0.40% per year. On volatility, TBLU has been the lower-risk option at 4.22%. 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 16.54% return vs 4.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TBLU is cheaper with a 0.40% expense ratio, compared with 0.78% for DBE.
TBLU has the higher dividend yield at 3.47%, compared with 2.33% for DBE.
TBLU is categorized as Water Equities, while DBE is Oil & Gas. TBLU tracks Tortoise Global Water ESG Net Total Return Index, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: Tortoise and Invesco. Their fees differ too: 0.40% for TBLU and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (1.49 vs -0.03), 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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