TSLY vs. DBE

Last updated Jul 16, 2026

TSLY (YieldMax TSLA Option Income Strategy ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - TSLY is a Options Trading fund actively managed by YieldMax, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. TSLY is actively managed, while DBE is passively managed. Over the past 3 years, TSLY returned 5.20%/yr vs 18.11%/yr for DBE. At a 0.00 correlation, their price movements are largely independent. TSLY charges 1.07%/yr vs 0.78%/yr for DBE.

Performance

TSLY vs. DBE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in YieldMax TSLA Option Income Strategy ETF (TSLY) and Invesco DB Energy Fund (DBE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSLY achieves a -6.38% return, which is significantly lower than DBE's 70.25% return.

TSLY

• 1D: -0.11%
• 1M: -1.92%
• 6M: -5.08%
• YTD: -6.38%
• 1Y: 29.19%
• 3Y*: 5.20%
• 5Y*: —
• 10Y*: —

DBE

• 1D: 0.71%
• 1M: 4.04%
• 6M: 65.19%
• YTD: 70.25%
• 1Y: 58.97%
• 3Y*: 18.11%
• 5Y*: 17.36%
• 10Y*: 11.42%

*Multi-year figures are annualized to reflect compound growth (CAGR)

TSLY vs. DBE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
TSLY YieldMax TSLA Option Income Strategy ETF	-6.38%	13.62%	27.83%	50.69%	-27.09%
DBE Invesco DB Energy Fund	70.25%	-2.17%	2.96%	-12.14%	-5.71%

Correlation

The correlation between TSLY and DBE is -0.15, 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	-0.15
Correlation (3Y) Calculated over the trailing 3-year period	-0.01
Correlation (All Time) Calculated using the full available price history since Nov 23, 2022	0.00

The correlation between TSLY and DBE shifts across timeframes, from -0.15 (1 year) to 0.00 (all time), reflecting how their relationship changes across market environments.

Return for Risk

TSLY vs. DBE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TSLY

TSLY Risk / Return Rank: 28
TSLY Sharpe Ratio Rank: 27
TSLY Sortino Ratio Rank: 28
TSLY Omega Ratio Rank: 27
TSLY Calmar Ratio Rank: 33
TSLY Martin Ratio Rank: 28

DBE

DBE Risk / Return Rank: 58
DBE Sharpe Ratio Rank: 61
DBE Sortino Ratio Rank: 59
DBE Omega Ratio Rank: 57
DBE Calmar Ratio Rank: 59
DBE Martin Ratio Rank: 52

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.

TSLY vs. DBE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for YieldMax TSLA Option Income Strategy ETF (TSLY) 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.

	TSLY	DBE	Difference
Sharpe ratio: Return per unit of total volatility	0.81	1.65	-0.83
Sortino ratio: Return per unit of downside risk	1.29	2.25	-0.96
Omega ratio: Gain probability vs. loss probability	1.16	1.28	-0.13
Calmar ratio: Return relative to maximum drawdown	1.36	2.40	-1.04
Martin ratio: Return relative to average drawdown	3.11	7.20	-4.09

TSLY vs. DBE - Sharpe Ratio Comparison

The current TSLY Sharpe Ratio is 0.81, which is lower than the DBE Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of TSLY 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.

Drawdowns

TSLY vs. DBE - Drawdown Comparison

The maximum TSLY drawdown since its inception was -49.52%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for TSLY and DBE.

Drawdown Indicators

	TSLY	DBE	Difference
Max Drawdown Largest peak-to-trough decline	-49.52%	-86.69%	+37.17%
Max Drawdown (1Y) Largest decline over 1 year	-21.64%	-24.72%	+3.08%
Max Drawdown (3Y) Largest decline over 3 years	-49.52%	-24.72%	-24.80%
Max Drawdown (5Y) Largest decline over 5 years	—	-38.74%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-60.84%	—
Current Drawdown Current decline from peak	-12.46%	-35.37%	+22.91%
Average Drawdown Average peak-to-trough decline	-19.74%	-57.19%	+37.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.41%	8.21%	+1.20%

Volatility

TSLY vs. DBE - Volatility Comparison

YieldMax TSLA Option Income Strategy ETF (TSLY) has a higher volatility of 13.57% compared to Invesco DB Energy Fund (DBE) at 11.96%. This indicates that TSLY'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.

Volatility by Period

	TSLY	DBE	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.57%	11.96%	+1.61%
Volatility (6M) Calculated over the trailing 6-month period	25.85%	32.72%	-6.87%
Volatility (1Y) Calculated over the trailing 1-year period	36.11%	35.97%	+0.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.59%	29.88%	+15.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	45.59%	28.40%	+17.19%

TSLY vs. DBE - Expense Ratio Comparison

TSLY has a 1.07% expense ratio, which is higher than DBE's 0.78% expense ratio.

Dividends

TSLY vs. DBE - Dividend Comparison

TSLY's dividend yield for the trailing twelve months is around 85.33%, more than DBE's 2.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DBE Invesco DB Energy Fund	2.27%	3.86%	6.32%	3.87%	0.75%	0.00%	0.00%	1.79%	1.67%
TSLY YieldMax TSLA Option Income Strategy ETF	85.33%	91.19%	82.30%	76.47%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TSLY and DBE in my portfolio?

TSLY and DBE have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSLY or DBE?

TSLY has higher volatility (13.57%) compared to DBE (11.96%). In terms of maximum drawdown, TSLY dropped -49.52% vs DBE's -86.69%.

Which ETF is better, TSLY or DBE?

On 3-year performance, DBE leads with 18.11% vs 5.20% for TSLY. On fees, DBE is cheaper at 0.78% per year. On volatility, DBE has been the lower-risk option at 11.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TSLY or DBE?

Over the 3-year period, DBE has performed better with a 18.11% return vs 5.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TSLY or DBE?

DBE is cheaper with a 0.78% expense ratio, compared with 1.07% for TSLY.

Which ETF pays a higher dividend yield, TSLY or DBE?

TSLY has the higher dividend yield at 85.33%, compared with 2.27% for DBE.

What is the main difference between TSLY and DBE?

TSLY is categorized as Options Trading, while DBE is Oil & Gas. They also come from different issuers: YieldMax and Invesco. Their fees differ too: 1.07% for TSLY and 0.78% for DBE.

Which has better risk-adjusted returns?

DBE currently has the higher Sharpe Ratio (1.65 vs 0.81), 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.