VNQI vs. DBE
VNQI (Vanguard Global ex-U.S. Real Estate ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - VNQI is a REIT fund tracking the S&P Global ex-U.S. Property Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 10 years, VNQI returned 2.21%/yr vs 11.58%/yr for DBE. At a 0.25 correlation, their price movements are largely independent. VNQI charges 0.12%/yr vs 0.78%/yr for DBE.
Performance
VNQI vs. DBE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VNQI achieves a -2.14% return, which is significantly lower than DBE's 79.04% return. Over the past 10 years, VNQI has underperformed DBE with an annualized return of 2.21%, while DBE has yielded a comparatively higher 11.58% annualized return.
VNQI
- 1D
- 0.45%
- 1M
- -4.57%
- YTD
- -2.14%
- 6M
- -0.84%
- 1Y
- 5.67%
- 3Y*
- 8.33%
- 5Y*
- -1.57%
- 10Y*
- 2.21%
DBE
- 1D
- -2.52%
- 1M
- -6.01%
- YTD
- 79.04%
- 6M
- 69.31%
- 1Y
- 81.31%
- 3Y*
- 22.41%
- 5Y*
- 19.05%
- 10Y*
- 11.58%
VNQI vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VNQI Vanguard Global ex-U.S. Real Estate ETF | -2.14% | 21.38% | -2.22% | 6.99% | -22.94% | 5.93% | -7.22% | 21.59% | -9.44% | 26.91% |
DBE Invesco DB Energy Fund | 79.04% | -2.17% | 2.96% | -12.14% | 33.77% | 57.56% | -25.91% | 19.72% | -12.95% | 5.21% |
Correlation
The correlation between VNQI and DBE is -0.36, 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 | -0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.05 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Nov 2, 2010 | 0.25 |
The correlation between VNQI and DBE shifts across timeframes, from -0.36 (1 year) to 0.25 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VNQI vs. DBE — Risk / Return Rank
VNQI
DBE
VNQI vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Global ex-U.S. Real Estate ETF (VNQI) 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.
| VNQI | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.91 | ||
| Sortino ratioReturn per unit of downside risk | -2.17 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.39 | -0.30 |
| Calmar ratioReturn relative to maximum drawdown | 0.39 | 5.67 | -5.29 |
| Martin ratioReturn relative to average drawdown | 1.17 | 11.08 | -9.90 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| VNQI | DBE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.42 | 2.33 | -1.91 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.10 | 0.65 | -0.75 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.14 | 0.41 | -0.27 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.20 | 0.09 | +0.11 |
Drawdowns
VNQI vs. DBE - Drawdown Comparison
The maximum VNQI drawdown since its inception was -38.35%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for VNQI and DBE.
Loading charts...
Drawdown Indicators
| VNQI | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.35% | -86.69% | +48.34% |
Max Drawdown (1Y)Largest decline over 1 year | -14.78% | -14.41% | -0.37% |
Max Drawdown (3Y)Largest decline over 3 years | -16.35% | -23.89% | +7.54% |
Max Drawdown (5Y)Largest decline over 5 years | -35.75% | -38.74% | +2.99% |
Max Drawdown (10Y)Largest decline over 10 years | -38.35% | -60.84% | +22.49% |
Current DrawdownCurrent decline from peak | -11.62% | -32.03% | +20.41% |
Average DrawdownAverage peak-to-trough decline | -10.89% | -57.30% | +46.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.84% | 7.37% | -2.53% |
Volatility
VNQI vs. DBE - Volatility Comparison
The current volatility for Vanguard Global ex-U.S. Real Estate ETF (VNQI) is 4.58%, while Invesco DB Energy Fund (DBE) has a volatility of 13.05%. This indicates that VNQI 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.
Loading charts...
Volatility by Period
| VNQI | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.58% | 13.05% | -8.47% |
Volatility (6M)Calculated over the trailing 6-month period | 11.44% | 30.97% | -19.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.43% | 35.07% | -21.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.50% | 29.41% | -13.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.06% | 28.34% | -12.28% |
VNQI vs. DBE - Expense Ratio Comparison
VNQI has a 0.12% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
VNQI vs. DBE - Dividend Comparison
VNQI's dividend yield for the trailing twelve months is around 4.81%, more than DBE's 2.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.16% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% | 0.00% | 0.00% | 0.00% |
VNQI Vanguard Global ex-U.S. Real Estate ETF | 4.81% | 4.70% | 5.16% | 3.74% | 0.57% | 6.48% | 0.93% | 7.58% | 4.62% | 3.86% | 5.18% | 2.86% |
Frequently Asked Questions
VNQI and DBE have a correlation of -0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBE has higher volatility (13.05%) compared to VNQI (4.58%). In terms of maximum drawdown, VNQI dropped -38.35% vs DBE's -86.69%.
On 10-year performance, DBE leads with 11.58% vs 2.21% for VNQI. On fees, VNQI is cheaper at 0.12% per year. On volatility, VNQI has been the lower-risk option at 4.58%. 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 11.58% return vs 2.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VNQI is cheaper with a 0.12% expense ratio, compared with 0.78% for DBE.
VNQI has the higher dividend yield at 4.81%, compared with 2.16% for DBE.
VNQI is categorized as REIT, while DBE is Oil & Gas. VNQI tracks S&P Global ex-U.S. Property Index, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: Vanguard and Invesco. Their fees differ too: 0.12% for VNQI and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (2.33 vs 0.42), 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.
Find the right allocation for VNQI and DBE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer