VLU vs. DBE
VLU (SPDR S&P 1500 Value Tilt ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - VLU is a Large Cap Value Equities fund tracking the S&P 1500 Low Valuation Tilt Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 10 years, VLU returned 14.17%/yr vs 11.75%/yr for DBE. Their 0.21 correlation means their historical movements had little consistent relationship. VLU charges 0.12%/yr vs 0.78%/yr for DBE.
Performance
VLU vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, VLU achieves a 19.00% return, which is significantly lower than DBE's 63.93% return. Over the past 10 years, VLU has outperformed DBE with an annualized return of 14.17%, while DBE has yielded a comparatively lower 11.75% annualized return.
VLU
- 1D
- 1.12%
- 1M
- 3.66%
- 6M
- 12.67%
- YTD
- 19.00%
- 1Y
- 31.34%
- 3Y*
- 20.17%
- 5Y*
- 13.37%
- 10Y*
- 14.17%
- ALL TIME*
- 13.95%
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 | |
| $1.43M | $1.32M | $1.58M |
VLU vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VLU SPDR S&P 1500 Value Tilt ETF | 19.00% | 16.70% | 17.24% | 17.18% | -8.24% | 30.95% | 9.91% | 26.20% | -7.89% | 18.16% |
DBE Invesco DB Energy Fund | 63.93% | -2.17% | 2.96% | -12.14% | 33.77% | 57.56% | -25.91% | 19.72% | -12.95% | 5.21% |
Correlation
The correlation between VLU and DBE is -0.29, 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. | -0.29 |
Correlation (3Y) Balances recent behavior with more history. | -0.06 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.13 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.22 |
Correlation (All Time) Calculated using the full available price history since Oct 25, 2012 | 0.21 |
The correlation between VLU and DBE shifts across timeframes, from -0.29 (1 year) to 0.22 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
VLU vs. DBE — Risk / Return Rank
VLU
DBE
VLU vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P 1500 Value Tilt ETF (VLU) 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.
| VLU | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.45 | ||
| Sortino ratioReturn per unit of downside risk | +1.98 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.26 | +0.29 |
| Calmar ratioReturn relative to maximum drawdown | 4.97 | 2.26 | +2.70 |
| Martin ratioReturn relative to average drawdown | 20.62 | 7.03 | +13.58 |
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Drawdowns
VLU vs. DBE - Drawdown Comparison
The maximum VLU drawdown since its inception was -37.39%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for VLU and DBE.
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Drawdown Indicators
| VLU | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.39% | -86.69% | +49.30% |
Max Drawdown (1Y)Largest decline over 1 year | -6.34% | -24.72% | +18.38% |
Max Drawdown (3Y)Largest decline over 3 years | -16.22% | -24.72% | +8.50% |
Max Drawdown (5Y)Largest decline over 5 years | -19.55% | -38.74% | +19.19% |
Max Drawdown (10Y)Largest decline over 10 years | -37.39% | -60.84% | +23.45% |
Current DrawdownCurrent decline from peak | 0.00% | -37.77% | +37.77% |
Average DrawdownAverage peak-to-trough decline | -3.70% | -57.12% | +53.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.52% | 7.95% | -6.43% |
Volatility
VLU vs. DBE - Volatility Comparison
The current volatility for SPDR S&P 1500 Value Tilt ETF (VLU) is 2.92%, while Invesco DB Energy Fund (DBE) has a volatility of 15.88%. This indicates that VLU 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
| VLU | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.92% | 15.88% | -12.96% |
Volatility (6M)Calculated over the trailing 6-month period | 7.71% | 33.82% | -26.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.80% | 37.86% | -27.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.30% | 30.19% | -14.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.98% | 28.64% | -10.66% |
VLU vs. DBE - Expense Ratio Comparison
VLU has a 0.12% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
VLU vs. DBE - Dividend Comparison
VLU's dividend yield for the trailing twelve months is around 1.56%, less than DBE's 2.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.36% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% | 0.00% | 0.00% | 0.00% |
VLU SPDR S&P 1500 Value Tilt ETF | 1.56% | 1.82% | 2.00% | 2.02% | 2.16% | 1.86% | 1.98% | 2.19% | 2.57% | 1.96% | 2.14% | 6.37% |
Frequently Asked Questions
VLU and DBE have a correlation of -0.29, 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 VLU (2.92%). In terms of maximum drawdown, VLU dropped -37.39% vs DBE's -86.69%.
On 10-year performance, VLU leads with 14.17% vs 11.75% for DBE. On fees, VLU is cheaper at 0.12% per year. On volatility, VLU has been the lower-risk option at 2.92%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VLU has performed better with a 14.17% return vs 11.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VLU is cheaper with a 0.12% expense ratio, compared with 0.78% for DBE.
DBE has the higher dividend yield at 2.36%, compared with 1.56% for VLU.
VLU is categorized as Large Cap Value Equities, while DBE is Oil & Gas. VLU tracks S&P 1500 Low Valuation Tilt Index, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.12% for VLU and 0.78% for DBE.
VLU currently has the higher Sharpe Ratio (2.92 vs 1.48), 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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