TUR vs. DBE
TUR (iShares MSCI Turkey ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - TUR is a Emerging Markets Equities fund tracking the MSCI Turkey Investable Market Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 10 years, TUR returned 2.90%/yr vs 11.45%/yr for DBE. At a 0.20 correlation, their price movements are largely independent. TUR charges 0.59%/yr vs 0.78%/yr for DBE.
Performance
TUR vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, TUR achieves a 15.73% return, which is significantly lower than DBE's 68.39% return. Over the past 10 years, TUR has underperformed DBE with an annualized return of 2.90%, while DBE has yielded a comparatively higher 11.45% annualized return.
TUR
- 1D
- 1.57%
- 1M
- -2.38%
- 6M
- 4.99%
- YTD
- 15.73%
- 1Y
- 23.83%
- 3Y*
- 9.90%
- 5Y*
- 16.14%
- 10Y*
- 2.90%
DBE
- 1D
- -1.09%
- 1M
- 6.25%
- 6M
- 65.69%
- YTD
- 68.39%
- 1Y
- 57.64%
- 3Y*
- 17.96%
- 5Y*
- 17.10%
- 10Y*
- 11.45%
TUR vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TUR iShares MSCI Turkey ETF | 15.73% | -1.54% | 12.91% | -8.83% | 105.75% | -27.41% | -1.19% | 14.49% | -41.46% | 37.58% |
DBE Invesco DB Energy Fund | 68.39% | -2.17% | 2.96% | -12.14% | 33.77% | 57.56% | -25.91% | 19.72% | -12.95% | 5.21% |
Correlation
The correlation between TUR and DBE is -0.17, 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 | -0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Mar 28, 2008 | 0.20 |
The correlation between TUR and DBE shifts across timeframes, from -0.17 (1 year) to 0.20 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TUR vs. DBE — Risk / Return Rank
TUR
DBE
TUR vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Turkey ETF (TUR) 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.
| TUR | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.64 | ||
| Sortino ratioReturn per unit of downside risk | -0.73 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.28 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.49 | 2.34 | -0.85 |
| Martin ratioReturn relative to average drawdown | 3.84 | 7.00 | -3.16 |
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Drawdowns
TUR vs. DBE - Drawdown Comparison
The maximum TUR drawdown since its inception was -72.34%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for TUR and DBE.
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Drawdown Indicators
| TUR | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.34% | -86.69% | +14.35% |
Max Drawdown (1Y)Largest decline over 1 year | -16.07% | -24.72% | +8.65% |
Max Drawdown (3Y)Largest decline over 3 years | -31.63% | -24.72% | -6.91% |
Max Drawdown (5Y)Largest decline over 5 years | -31.63% | -38.74% | +7.11% |
Max Drawdown (10Y)Largest decline over 10 years | -59.25% | -60.84% | +1.59% |
Current DrawdownCurrent decline from peak | -27.17% | -36.07% | +8.90% |
Average DrawdownAverage peak-to-trough decline | -39.82% | -57.19% | +17.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.21% | 8.26% | -2.05% |
Volatility
TUR vs. DBE - Volatility Comparison
The current volatility for iShares MSCI Turkey ETF (TUR) is 5.00%, while Invesco DB Energy Fund (DBE) has a volatility of 11.68%. This indicates that TUR 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
| TUR | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.00% | 11.68% | -6.68% |
Volatility (6M)Calculated over the trailing 6-month period | 20.36% | 32.70% | -12.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.64% | 35.99% | -11.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.17% | 29.88% | +4.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.23% | 28.39% | +5.84% |
TUR vs. DBE - Expense Ratio Comparison
TUR has a 0.59% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
TUR vs. DBE - Dividend Comparison
TUR's dividend yield for the trailing twelve months is around 2.13%, less than DBE's 2.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.29% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% | 0.00% | 0.00% | 0.00% |
TUR iShares MSCI Turkey ETF | 2.13% | 2.40% | 1.79% | 4.43% | 1.97% | 4.22% | 0.87% | 3.29% | 4.05% | 2.64% | 2.89% | 3.04% |
Frequently Asked Questions
TUR and DBE have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBE has higher volatility (11.68%) compared to TUR (5.00%). In terms of maximum drawdown, TUR dropped -72.34% vs DBE's -86.69%.
On 10-year performance, DBE leads with 11.45% vs 2.90% for TUR. On fees, TUR is cheaper at 0.59% per year. On volatility, TUR has been the lower-risk option at 5.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DBE has performed better with a 11.45% return vs 2.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TUR is cheaper with a 0.59% expense ratio, compared with 0.78% for DBE.
DBE has the higher dividend yield at 2.29%, compared with 2.13% for TUR.
TUR is categorized as Emerging Markets Equities, while DBE is Oil & Gas. TUR tracks MSCI Turkey Investable Market Index, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: iShares and Invesco. Their fees differ too: 0.59% for TUR and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (1.61 vs 0.97), 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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