TSMG vs. DBE
TSMG (Leverage Shares 2X Long TSM Daily ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - TSMG is a Leveraged Equities fund actively managed by Leverage Shares, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. TSMG is actively managed, while DBE is passively managed. Over the past year, TSMG returned 297.71% vs 84.41% for DBE. At a correlation of -0.09, they often move in opposite directions. TSMG charges 0.75%/yr vs 0.78%/yr for DBE.
Performance
TSMG vs. DBE - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with TSMG having a 86.06% return and DBE slightly lower at 83.68%.
TSMG
- 1D
- -4.26%
- 1M
- 15.77%
- YTD
- 86.06%
- 6M
- 95.35%
- 1Y
- 297.71%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DBE
- 1D
- 2.33%
- 1M
- -5.45%
- YTD
- 83.68%
- 6M
- 74.95%
- 1Y
- 84.41%
- 3Y*
- 23.42%
- 5Y*
- 19.66%
- 10Y*
- 12.03%
TSMG vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TSMG Leverage Shares 2X Long TSM Daily ETF | 86.06% | 76.34% |
DBE Invesco DB Energy Fund | 83.68% | -8.35% |
Correlation
The correlation between TSMG and DBE is -0.22, 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 | -0.22 |
Correlation (All Time) Calculated using the full available price history since Jan 15, 2025 | -0.09 |
The correlation between TSMG and DBE shifts across timeframes, from -0.22 (1 year) to -0.09 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TSMG vs. DBE — Risk / Return Rank
TSMG
DBE
TSMG vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Leverage Shares 2X Long TSM Daily ETF (TSMG) 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.
| TSMG | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.76 | ||
| Sortino ratioReturn per unit of downside risk | +0.83 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.40 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 8.50 | 5.89 | +2.61 |
| Martin ratioReturn relative to average drawdown | 27.74 | 11.53 | +16.21 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TSMG | DBE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.18 | 2.43 | +1.76 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.67 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.43 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.69 | 0.09 | +1.60 |
Drawdowns
TSMG vs. DBE - Drawdown Comparison
The maximum TSMG drawdown since its inception was -63.67%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for TSMG and DBE.
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Drawdown Indicators
| TSMG | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.67% | -86.69% | +23.02% |
Max Drawdown (1Y)Largest decline over 1 year | -35.29% | -14.41% | -20.88% |
Max Drawdown (3Y)Largest decline over 3 years | — | -23.89% | — |
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 | -4.26% | -30.27% | +26.01% |
Average DrawdownAverage peak-to-trough decline | -16.98% | -57.31% | +40.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.79% | 7.35% | +3.44% |
Volatility
TSMG vs. DBE - Volatility Comparison
Leverage Shares 2X Long TSM Daily ETF (TSMG) has a higher volatility of 23.14% compared to Invesco DB Energy Fund (DBE) at 12.95%. This indicates that TSMG'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.
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Volatility by Period
| TSMG | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 23.14% | 12.95% | +10.19% |
Volatility (6M)Calculated over the trailing 6-month period | 55.07% | 30.86% | +24.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 71.74% | 34.97% | +36.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 81.06% | 29.39% | +51.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 81.06% | 28.33% | +52.73% |
TSMG vs. DBE - Expense Ratio Comparison
TSMG has a 0.75% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
TSMG vs. DBE - Dividend Comparison
TSMG's dividend yield for the trailing twelve months is around 6.17%, more than DBE's 2.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.10% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% |
TSMG Leverage Shares 2X Long TSM Daily ETF | 6.17% | 11.48% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TSMG and DBE have a correlation of -0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TSMG has higher volatility (23.14%) compared to DBE (12.95%). In terms of maximum drawdown, TSMG dropped -63.67% vs DBE's -86.69%.
On 1-year performance, TSMG leads with 297.71% vs 84.41% for DBE. On fees, TSMG is cheaper at 0.75% per year. On volatility, DBE has been the lower-risk option at 12.95%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, TSMG has performed better with a 297.71% return vs 84.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TSMG is cheaper with a 0.75% expense ratio, compared with 0.78% for DBE.
TSMG has the higher dividend yield at 6.17%, compared with 2.10% for DBE.
TSMG is categorized as Leveraged Equities, while DBE is Oil & Gas. They also come from different issuers: Leverage Shares and Invesco. Their fees differ too: 0.75% for TSMG and 0.78% for DBE.
TSMG currently has the higher Sharpe Ratio (4.18 vs 2.43), 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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