VB vs. DBE
VB (Vanguard Small-Cap ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - VB is a Small Cap Blend Equities fund tracking the CRSP US Small Cap Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 10 years, VB returned 11.30%/yr vs 12.03%/yr for DBE. At a 0.29 correlation, their price movements are largely independent. VB charges 0.05%/yr vs 0.78%/yr for DBE.
Performance
VB vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, VB achieves a 14.16% return, which is significantly lower than DBE's 83.68% return. Over the past 10 years, VB has underperformed DBE with an annualized return of 11.30%, while DBE has yielded a comparatively higher 12.03% annualized return.
VB
- 1D
- -0.65%
- 1M
- 3.52%
- YTD
- 14.16%
- 6M
- 14.12%
- 1Y
- 28.82%
- 3Y*
- 17.05%
- 5Y*
- 7.11%
- 10Y*
- 11.30%
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%
VB vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VB Vanguard Small-Cap ETF | 14.16% | 8.87% | 14.17% | 18.22% | -17.51% | 17.57% | 19.19% | 27.34% | -9.34% | 16.26% |
DBE Invesco DB Energy Fund | 83.68% | -2.17% | 2.96% | -12.14% | 33.77% | 57.56% | -25.91% | 19.72% | -12.95% | 5.21% |
Correlation
The correlation between VB and DBE is -0.28, 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 | -0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.13 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Jan 8, 2007 | 0.29 |
The correlation between VB and DBE shifts across timeframes, from -0.28 (1 year) to 0.29 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
VB vs. DBE — Risk / Return Rank
VB
DBE
VB vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Small-Cap ETF (VB) 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.
| VB | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.64 | ||
| Sortino ratioReturn per unit of downside risk | -0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.40 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.22 | 5.89 | -2.67 |
| Martin ratioReturn relative to average drawdown | 11.87 | 11.53 | +0.34 |
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
| VB | DBE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.78 | 2.43 | -0.64 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.34 | 0.67 | -0.33 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.53 | 0.43 | +0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.09 | +0.35 |
Drawdowns
VB vs. DBE - Drawdown Comparison
The maximum VB drawdown since its inception was -59.56%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for VB and DBE.
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Drawdown Indicators
| VB | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.56% | -86.69% | +27.13% |
Max Drawdown (1Y)Largest decline over 1 year | -8.98% | -14.41% | +5.43% |
Max Drawdown (3Y)Largest decline over 3 years | -25.36% | -23.89% | -1.47% |
Max Drawdown (5Y)Largest decline over 5 years | -28.15% | -38.74% | +10.59% |
Max Drawdown (10Y)Largest decline over 10 years | -42.05% | -60.84% | +18.79% |
Current DrawdownCurrent decline from peak | -0.65% | -30.27% | +29.62% |
Average DrawdownAverage peak-to-trough decline | -8.44% | -57.31% | +48.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.43% | 7.35% | -4.92% |
Volatility
VB vs. DBE - Volatility Comparison
The current volatility for Vanguard Small-Cap ETF (VB) is 4.42%, while Invesco DB Energy Fund (DBE) has a volatility of 12.95%. This indicates that VB 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
| VB | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.42% | 12.95% | -8.53% |
Volatility (6M)Calculated over the trailing 6-month period | 11.72% | 30.86% | -19.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.28% | 34.97% | -18.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.74% | 29.39% | -8.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.42% | 28.33% | -6.91% |
VB vs. DBE - Expense Ratio Comparison
VB has a 0.05% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
VB vs. DBE - Dividend Comparison
VB's dividend yield for the trailing twelve months is around 1.19%, less than DBE's 2.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.10% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% | 0.00% | 0.00% | 0.00% |
VB Vanguard Small-Cap ETF | 1.19% | 1.33% | 1.30% | 1.55% | 1.59% | 1.24% | 1.14% | 1.39% | 1.67% | 1.35% | 1.50% | 1.48% |
Frequently Asked Questions
VB and DBE have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBE has higher volatility (12.95%) compared to VB (4.42%). In terms of maximum drawdown, VB dropped -59.56% vs DBE's -86.69%.
On 10-year performance, DBE leads with 12.03% vs 11.30% for VB. On fees, VB is cheaper at 0.05% per year. On volatility, VB has been the lower-risk option at 4.42%. 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 12.03% return vs 11.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VB is cheaper with a 0.05% expense ratio, compared with 0.78% for DBE.
DBE has the higher dividend yield at 2.10%, compared with 1.19% for VB.
VB is categorized as Small Cap Blend Equities, while DBE is Oil & Gas. VB tracks CRSP US Small Cap Index, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: Vanguard and Invesco. Their fees differ too: 0.05% for VB and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (2.43 vs 1.78), 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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