VPC vs. DBE
VPC (Virtus Private Credit ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - VPC is a Nontraditional Bonds fund tracking the Indxx Private Credit Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 5 years, VPC returned 1.17%/yr vs 19.66%/yr for DBE. At a 0.16 correlation, their price movements are largely independent. VPC charges 0.75%/yr vs 0.78%/yr for DBE.
Performance
VPC vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, VPC achieves a -9.26% return, which is significantly lower than DBE's 83.68% return.
VPC
- 1D
- -1.89%
- 1M
- -5.24%
- YTD
- -9.26%
- 6M
- -10.18%
- 1Y
- -12.88%
- 3Y*
- 2.85%
- 5Y*
- 1.17%
- 10Y*
- —
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%
VPC vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VPC Virtus Private Credit ETF | -9.26% | -6.75% | 10.52% | 22.20% | -11.70% | 34.18% | -9.50% | 9.32% |
DBE Invesco DB Energy Fund | 83.68% | -2.17% | 2.96% | -12.14% | 33.77% | 57.56% | -25.91% | 8.71% |
Correlation
The correlation between VPC and DBE is -0.12, 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 | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (All Time) Calculated using the full available price history since Feb 11, 2019 | 0.16 |
The correlation between VPC and DBE shifts across timeframes, from -0.12 (1 year) to 0.16 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
VPC vs. DBE — Risk / Return Rank
VPC
DBE
VPC vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Virtus Private Credit ETF (VPC) 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.
| VPC | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.41 | ||
| Sortino ratioReturn per unit of downside risk | -4.28 | ||
| Omega ratioGain probability vs. loss probability | 0.85 | 1.40 | -0.55 |
| Calmar ratioReturn relative to maximum drawdown | -0.57 | 5.89 | -6.46 |
| Martin ratioReturn relative to average drawdown | -1.13 | 11.53 | -12.66 |
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
| VPC | DBE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.98 | 2.43 | -3.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.09 | 0.67 | -0.59 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.43 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.20 | 0.09 | +0.10 |
Drawdowns
VPC vs. DBE - Drawdown Comparison
The maximum VPC drawdown since its inception was -53.45%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for VPC and DBE.
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Drawdown Indicators
| VPC | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.45% | -86.69% | +33.24% |
Max Drawdown (1Y)Largest decline over 1 year | -22.76% | -14.41% | -8.35% |
Max Drawdown (3Y)Largest decline over 3 years | -24.86% | -23.89% | -0.97% |
Max Drawdown (5Y)Largest decline over 5 years | -24.86% | -38.74% | +13.88% |
Max Drawdown (10Y)Largest decline over 10 years | — | -60.84% | — |
Current DrawdownCurrent decline from peak | -19.63% | -30.27% | +10.64% |
Average DrawdownAverage peak-to-trough decline | -7.67% | -57.31% | +49.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.45% | 7.35% | +4.10% |
Volatility
VPC vs. DBE - Volatility Comparison
The current volatility for Virtus Private Credit ETF (VPC) is 3.27%, while Invesco DB Energy Fund (DBE) has a volatility of 12.95%. This indicates that VPC 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
| VPC | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.27% | 12.95% | -9.68% |
Volatility (6M)Calculated over the trailing 6-month period | 10.85% | 30.86% | -20.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.17% | 34.97% | -21.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.50% | 29.39% | -15.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.56% | 28.33% | -7.77% |
VPC vs. DBE - Expense Ratio Comparison
VPC has a 0.75% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
VPC vs. DBE - Dividend Comparison
VPC's dividend yield for the trailing twelve months is around 17.30%, more than DBE's 2.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.10% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% |
VPC Virtus Private Credit ETF | 17.30% | 14.33% | 11.26% | 11.71% | 10.74% | 6.31% | 10.06% | 8.19% | 0.00% |
Frequently Asked Questions
VPC and DBE have a correlation of -0.12, 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 VPC (3.27%). In terms of maximum drawdown, VPC dropped -53.45% vs DBE's -86.69%.
On 5-year performance, DBE leads with 19.66% vs 1.17% for VPC. On fees, VPC is cheaper at 0.75% per year. On volatility, VPC has been the lower-risk option at 3.27%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DBE has performed better with a 19.66% return vs 1.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VPC is cheaper with a 0.75% expense ratio, compared with 0.78% for DBE.
VPC has the higher dividend yield at 17.30%, compared with 2.10% for DBE.
VPC is categorized as Nontraditional Bonds, while DBE is Oil & Gas. VPC tracks Indxx Private Credit Index, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: Virtus Investment Partners and Invesco. Their fees differ too: 0.75% for VPC and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (2.43 vs -0.98), 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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