VXF vs. DBE
VXF (Vanguard Extended Market ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - VXF is a Mid Cap Blend Equities fund tracking the S&P Completion Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 10 years, VXF returned 11.69%/yr vs 11.19%/yr for DBE. At a 0.28 correlation, their price movements are largely independent. VXF charges 0.05%/yr vs 0.78%/yr for DBE.
Performance
VXF vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, VXF achieves a 11.25% return, which is significantly lower than DBE's 75.49% return. Both investments have delivered pretty close results over the past 10 years, with VXF having a 11.69% annualized return and DBE not far behind at 11.19%.
VXF
- 1D
- -3.32%
- 1M
- -0.19%
- YTD
- 11.25%
- 6M
- 9.53%
- 1Y
- 25.88%
- 3Y*
- 18.43%
- 5Y*
- 6.05%
- 10Y*
- 11.69%
DBE
- 1D
- -1.98%
- 1M
- -1.03%
- YTD
- 75.49%
- 6M
- 64.58%
- 1Y
- 76.30%
- 3Y*
- 21.68%
- 5Y*
- 18.57%
- 10Y*
- 11.19%
VXF vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VXF Vanguard Extended Market ETF | 11.25% | 11.40% | 16.89% | 25.51% | -26.52% | 12.31% | 32.45% | 27.96% | -9.34% | 18.06% |
DBE Invesco DB Energy Fund | 75.49% | -2.17% | 2.96% | -12.14% | 33.77% | 57.56% | -25.91% | 19.72% | -12.95% | 5.21% |
Correlation
The correlation between VXF 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 | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.20 |
Correlation (All Time) Calculated using the full available price history since Jan 8, 2007 | 0.28 |
The correlation between VXF and DBE shifts across timeframes, from -0.28 (1 year) to 0.28 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
VXF vs. DBE — Risk / Return Rank
VXF
DBE
VXF vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Extended Market ETF (VXF) 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.
| VXF | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.70 | ||
| Sortino ratioReturn per unit of downside risk | -0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.37 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.55 | 5.32 | -2.78 |
| Martin ratioReturn relative to average drawdown | 9.00 | 10.35 | -1.35 |
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
| VXF | DBE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.48 | 2.18 | -0.70 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.27 | 0.63 | -0.36 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.53 | 0.40 | +0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.09 | +0.37 |
Drawdowns
VXF vs. DBE - Drawdown Comparison
The maximum VXF drawdown since its inception was -58.03%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for VXF and DBE.
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Drawdown Indicators
| VXF | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.03% | -86.69% | +28.66% |
Max Drawdown (1Y)Largest decline over 1 year | -10.21% | -14.41% | +4.20% |
Max Drawdown (3Y)Largest decline over 3 years | -26.92% | -23.89% | -3.03% |
Max Drawdown (5Y)Largest decline over 5 years | -36.39% | -38.74% | +2.35% |
Max Drawdown (10Y)Largest decline over 10 years | -41.72% | -60.84% | +19.12% |
Current DrawdownCurrent decline from peak | -3.32% | -33.38% | +30.06% |
Average DrawdownAverage peak-to-trough decline | -9.55% | -57.30% | +47.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.88% | 7.39% | -4.51% |
Volatility
VXF vs. DBE - Volatility Comparison
The current volatility for Vanguard Extended Market ETF (VXF) is 5.88%, while Invesco DB Energy Fund (DBE) has a volatility of 11.07%. This indicates that VXF 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
| VXF | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.88% | 11.07% | -5.19% |
Volatility (6M)Calculated over the trailing 6-month period | 12.90% | 31.06% | -18.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.54% | 35.12% | -17.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.37% | 29.41% | -7.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.31% | 28.34% | -6.03% |
VXF vs. DBE - Expense Ratio Comparison
VXF has a 0.05% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
VXF vs. DBE - Dividend Comparison
VXF's dividend yield for the trailing twelve months is around 1.04%, less than DBE's 2.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.20% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% | 0.00% | 0.00% | 0.00% |
VXF Vanguard Extended Market ETF | 1.04% | 1.14% | 1.09% | 1.27% | 1.15% | 1.13% | 1.07% | 1.30% | 1.66% | 1.25% | 1.43% | 1.35% |
Frequently Asked Questions
VXF 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 (11.07%) compared to VXF (5.88%). In terms of maximum drawdown, VXF dropped -58.03% vs DBE's -86.69%.
On 10-year performance, VXF leads with 11.69% vs 11.19% for DBE. On fees, VXF is cheaper at 0.05% per year. On volatility, VXF has been the lower-risk option at 5.88%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VXF has performed better with a 11.69% return vs 11.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VXF is cheaper with a 0.05% expense ratio, compared with 0.78% for DBE.
DBE has the higher dividend yield at 2.20%, compared with 1.04% for VXF.
VXF is categorized as Mid Cap Blend Equities, while DBE is Oil & Gas. VXF tracks S&P Completion 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 VXF and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (2.18 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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