TXS vs. DBE
TXS (Texas Capital Texas Equity Index ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - TXS is a Mid Cap Blend Equities fund tracking the Texas Capital Texas Equity Index - Benchmark TR Gross, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 3 years, TXS returned 19.48%/yr vs 15.22%/yr for DBE. Their 0.09 correlation means their historical movements had little consistent relationship. TXS charges 0.49%/yr vs 0.78%/yr for DBE.
Performance
TXS vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, TXS achieves a 17.07% return, which is significantly lower than DBE's 71.26% return.
TXS
- 1D
- 0.71%
- 1M
- 3.19%
- 6M
- 11.43%
- YTD
- 17.07%
- 1Y
- 21.67%
- 3Y*
- 19.48%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 18.90%
DBE
- 1D
- -4.26%
- 1M
- 15.98%
- 6M
- 57.84%
- YTD
- 71.26%
- 1Y
- 61.44%
- 3Y*
- 15.22%
- 5Y*
- 17.82%
- 10Y*
- 12.24%
- ALL TIME*
- 2.29%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.27M | $1.08M | $1.67M | |
| $149.70K | $174.94K | $126.67K |
TXS vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
TXS Texas Capital Texas Equity Index ETF | 17.07% | 10.31% | 24.29% | 5.77% |
DBE Invesco DB Energy Fund | 71.26% | -2.17% | 2.96% | -4.55% |
Correlation
The correlation between TXS and DBE is -0.10, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.10 |
Correlation (3Y) Balances recent behavior with more history. | 0.08 |
Correlation (All Time) Calculated using the full available price history since Jul 13, 2023 | 0.09 |
The correlation between TXS and DBE shifts across timeframes, from -0.10 (1 year) to 0.09 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TXS vs. DBE — Risk / Return Rank
TXS
DBE
TXS vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Texas Capital Texas Equity Index ETF (TXS) 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.
| TXS | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.47 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.28 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.33 | 2.50 | +0.83 |
| Martin ratioReturn relative to average drawdown | 11.42 | 7.82 | +3.61 |
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Drawdowns
TXS vs. DBE - Drawdown Comparison
The maximum TXS drawdown since its inception was -19.69%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for TXS and DBE.
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Drawdown Indicators
| TXS | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.69% | -86.69% | +67.00% |
Max Drawdown (1Y)Largest decline over 1 year | -6.54% | -24.72% | +18.18% |
Max Drawdown (3Y)Largest decline over 3 years | -19.69% | -24.72% | +5.03% |
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 | 0.00% | -34.98% | +34.98% |
Average DrawdownAverage peak-to-trough decline | -2.72% | -57.13% | +54.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.90% | 7.90% | -6.00% |
Volatility
TXS vs. DBE - Volatility Comparison
The current volatility for Texas Capital Texas Equity Index ETF (TXS) is 2.69%, while Invesco DB Energy Fund (DBE) has a volatility of 15.07%. This indicates that TXS 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
| TXS | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.69% | 15.07% | -12.38% |
Volatility (6M)Calculated over the trailing 6-month period | 7.83% | 34.26% | -26.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.49% | 37.66% | -26.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.63% | 30.15% | -14.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.63% | 28.60% | -12.97% |
TXS vs. DBE - Expense Ratio Comparison
TXS has a 0.49% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
TXS vs. DBE - Dividend Comparison
TXS's dividend yield for the trailing twelve months is around 0.77%, less than DBE's 2.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.26% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% |
TXS Texas Capital Texas Equity Index ETF | 0.77% | 0.82% | 0.86% | 0.53% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TXS and DBE have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBE has higher volatility (15.07%) compared to TXS (2.69%). In terms of maximum drawdown, TXS dropped -19.69% vs DBE's -86.69%.
On 3-year performance, TXS leads with 19.48% vs 15.22% for DBE. On fees, TXS is cheaper at 0.49% per year. On volatility, TXS has been the lower-risk option at 2.69%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, TXS has performed better with a 19.48% return vs 15.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TXS is cheaper with a 0.49% expense ratio, compared with 0.78% for DBE.
DBE has the higher dividend yield at 2.26%, compared with 0.77% for TXS.
TXS is categorized as Mid Cap Blend Equities, while DBE is Oil & Gas. TXS tracks Texas Capital Texas Equity Index - Benchmark TR Gross, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: Texas Capital and Invesco. Their fees differ too: 0.49% for TXS and 0.78% for DBE.
TXS currently has the higher Sharpe Ratio (1.90 vs 1.64), 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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