UTHY vs. DBE
UTHY (US Treasury 30 Year Bond ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - UTHY is a Government Bonds fund tracking the ICE BofA Current 30-Year US Treasury 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, UTHY returned -1.17%/yr vs 13.55%/yr for DBE. Their -0.22 correlation means they have often moved in opposite directions in the past. UTHY charges 0.15%/yr vs 0.78%/yr for DBE.
Performance
UTHY vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, UTHY achieves a -2.44% return, which is significantly lower than DBE's 63.93% return.
UTHY
- 1D
- 0.77%
- 1M
- -2.84%
- 6M
- -2.13%
- YTD
- -2.44%
- 1Y
- -1.50%
- 3Y*
- -1.17%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -3.02%
DBE
- 1D
- -4.28%
- 1M
- 11.01%
- 6M
- 47.49%
- YTD
- 63.93%
- 1Y
- 55.67%
- 3Y*
- 13.55%
- 5Y*
- 16.46%
- 10Y*
- 11.75%
- ALL TIME*
- 2.06%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.35M | $1.09M | $1.64M | |
| $5.77M | $5.13M | $5.93M |
UTHY vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
UTHY US Treasury 30 Year Bond ETF | -2.44% | 3.47% | -8.07% | -2.77% |
DBE Invesco DB Energy Fund | 63.93% | -2.17% | 2.96% | -1.93% |
Correlation
The correlation between UTHY and DBE is -0.42, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.42 |
Correlation (3Y) Balances recent behavior with more history. | -0.24 |
Correlation (All Time) Calculated using the full available price history since Mar 28, 2023 | -0.22 |
Over the past year, the inverse relationship between UTHY and DBE has strengthened: their correlation has moved from -0.22 to -0.42, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
UTHY vs. DBE — Risk / Return Rank
UTHY
DBE
UTHY vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for US Treasury 30 Year Bond ETF (UTHY) 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.
| UTHY | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.65 | ||
| Sortino ratioReturn per unit of downside risk | -2.23 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.26 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | -0.20 | 2.26 | -2.47 |
| Martin ratioReturn relative to average drawdown | -0.44 | 7.03 | -7.47 |
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Drawdowns
UTHY vs. DBE - Drawdown Comparison
The maximum UTHY drawdown since its inception was -21.86%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for UTHY and DBE.
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Drawdown Indicators
| UTHY | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.86% | -86.69% | +64.83% |
Max Drawdown (1Y)Largest decline over 1 year | -7.41% | -24.72% | +17.31% |
Max Drawdown (3Y)Largest decline over 3 years | -14.90% | -24.72% | +9.82% |
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 | -13.30% | -37.77% | +24.47% |
Average DrawdownAverage peak-to-trough decline | -10.75% | -57.12% | +46.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.46% | 7.95% | -4.49% |
Volatility
UTHY vs. DBE - Volatility Comparison
The current volatility for US Treasury 30 Year Bond ETF (UTHY) is 2.54%, while Invesco DB Energy Fund (DBE) has a volatility of 15.88%. This indicates that UTHY 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
| UTHY | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.54% | 15.88% | -13.34% |
Volatility (6M)Calculated over the trailing 6-month period | 6.63% | 33.82% | -27.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.92% | 37.86% | -28.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.46% | 30.19% | -16.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.46% | 28.64% | -15.18% |
UTHY vs. DBE - Expense Ratio Comparison
UTHY has a 0.15% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
UTHY vs. DBE - Dividend Comparison
UTHY's dividend yield for the trailing twelve months is around 4.81%, more than DBE's 2.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.36% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% |
UTHY US Treasury 30 Year Bond ETF | 4.81% | 4.53% | 4.58% | 2.81% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
UTHY and DBE have a correlation of -0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBE has higher volatility (15.88%) compared to UTHY (2.54%). In terms of maximum drawdown, UTHY dropped -21.86% vs DBE's -86.69%.
On 3-year performance, DBE leads with 13.55% vs -1.17% for UTHY. On fees, UTHY is cheaper at 0.15% per year. On volatility, UTHY has been the lower-risk option at 2.54%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, DBE has performed better with a 13.55% return vs -1.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UTHY is cheaper with a 0.15% expense ratio, compared with 0.78% for DBE.
UTHY has the higher dividend yield at 4.81%, compared with 2.36% for DBE.
UTHY is categorized as Government Bonds, while DBE is Oil & Gas. UTHY tracks ICE BofA Current 30-Year US Treasury Index - Benchmark TR Gross, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: US Benchmark Series and Invesco. Their fees differ too: 0.15% for UTHY and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (1.48 vs -0.17), 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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