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 4.24%/yr vs 14.66%/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
Loading charts...
Returns By Period
In the year-to-date period, TBLU achieves a -0.84% return, which is significantly lower than DBE's 53.97% return.
TBLU
- 1D
- -0.58%
- 1M
- 0.88%
- YTD
- -0.84%
- 6M
- -2.19%
- 1Y
- -0.84%
- 3Y*
- 9.69%
- 5Y*
- 4.24%
- 10Y*
- —
DBE
- 1D
- -0.63%
- 1M
- -16.23%
- YTD
- 53.97%
- 6M
- 50.93%
- 1Y
- 43.95%
- 3Y*
- 16.83%
- 5Y*
- 14.66%
- 10Y*
- 10.12%
TBLU vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TBLU Tortoise Global Water Fund | -0.84% | 11.82% | 8.54% | 20.95% | -25.99% | 28.93% | 15.74% | 38.72% | -12.80% | 20.81% |
DBE Invesco DB Energy Fund | 53.97% | -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 | -0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
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.
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
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 | -1.33 | ||
| Sortino ratioReturn per unit of downside risk | -1.82 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.23 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | -0.06 | 2.07 | -2.14 |
| Martin ratioReturn relative to average drawdown | -0.14 | 6.89 | -7.03 |
Loading charts...
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.
Loading charts...
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% | -21.28% | +8.11% |
Max Drawdown (3Y)Largest decline over 3 years | -15.42% | -23.89% | +8.47% |
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 | -10.61% | -41.55% | +30.94% |
Average DrawdownAverage peak-to-trough decline | -8.16% | -57.24% | +49.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.98% | 6.42% | -0.44% |
Volatility
TBLU vs. DBE - Volatility Comparison
The current volatility for Tortoise Global Water Fund (TBLU) is 4.36%, while Invesco DB Energy Fund (DBE) has a volatility of 9.37%. 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.
Loading charts...
Volatility by Period
| TBLU | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.36% | 9.37% | -5.01% |
Volatility (6M)Calculated over the trailing 6-month period | 11.78% | 31.44% | -19.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.73% | 35.27% | -20.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.35% | 29.58% | -12.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.95% | 28.34% | -9.39% |
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 3.33%, more than DBE's 2.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.51% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% | 0.00% |
TBLU Tortoise Global Water Fund | 3.33% | 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 (9.37%) compared to TBLU (4.36%). In terms of maximum drawdown, TBLU dropped -37.58% vs DBE's -86.69%.
On 5-year performance, DBE leads with 14.66% vs 4.24% for TBLU. On fees, TBLU is cheaper at 0.40% per year. On volatility, TBLU has been the lower-risk option at 4.36%. 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 14.66% return vs 4.24%. 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 3.33%, compared with 2.51% 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 (1.27 vs -0.06), 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 TBLU 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