WDAF vs. DBE

Last updated Jun 4, 2026

WDAF (WisdomTree Asia Defense Fund) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - WDAF is a Aerospace & Defense fund tracking the WisdomTree Asia Defense Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. At a correlation of -0.14, they often move in opposite directions. WDAF charges 0.45%/yr vs 0.78%/yr for DBE.

Performance

WDAF vs. DBE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Asia Defense Fund (WDAF) and Invesco DB Energy Fund (DBE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WDAF achieves a 11.85% return, which is significantly lower than DBE's 83.68% return.

WDAF

• 1D: -1.56%
• 1M: -13.31%
• YTD: 11.85%
• 6M: 16.15%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 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%

*Multi-year figures are annualized to reflect compound growth (CAGR)

WDAF vs. DBE - Yearly Performance Comparison

	2026 (YTD)	2025
WDAF WisdomTree Asia Defense Fund	11.85%	-7.62%
DBE Invesco DB Energy Fund	83.68%	-3.99%

Correlation

The correlation between WDAF and DBE is -0.14, 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 (All Time) Calculated using the full available price history since Sep 15, 2025	-0.14

Return for Risk

WDAF vs. DBE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DBE

DBE Risk / Return Rank: 71
DBE Sharpe Ratio Rank: 74
DBE Sortino Ratio Rank: 63
DBE Omega Ratio Rank: 65
DBE Calmar Ratio Rank: 91
DBE Martin Ratio Rank: 63

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

WDAF vs. DBE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Asia Defense Fund (WDAF) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	WDAF	DBE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.43	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.67	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.43	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.15	0.09	+0.05

Drawdowns

WDAF vs. DBE - Drawdown Comparison

The maximum WDAF drawdown since its inception was -18.21%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for WDAF and DBE.

Drawdown Indicators

	WDAF	DBE	Difference
Max Drawdown Largest peak-to-trough decline	-18.21%	-86.69%	+68.48%
Max Drawdown (1Y) Largest decline over 1 year	—	-14.41%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-23.89%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-38.74%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-60.84%	—
Current Drawdown Current decline from peak	-16.06%	-30.27%	+14.21%
Average Drawdown Average peak-to-trough decline	-6.09%	-57.31%	+51.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	7.35%	—

Volatility

Volatility by Period

	WDAF	DBE	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	12.95%	—
Volatility (6M) Calculated over the trailing 6-month period	—	30.86%	—
Volatility (1Y) Calculated over the trailing 1-year period	32.10%	34.97%	-2.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.10%	29.39%	+2.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.10%	28.33%	+3.77%

WDAF vs. DBE - Expense Ratio Comparison

WDAF has a 0.45% expense ratio, which is lower than DBE's 0.78% expense ratio.

Dividends

WDAF vs. DBE - Dividend Comparison

WDAF's dividend yield for the trailing twelve months is around 0.12%, less 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%
WDAF WisdomTree Asia Defense Fund	0.12%	0.13%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both WDAF and DBE in my portfolio?

WDAF and DBE have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, WDAF or DBE?

On fees, WDAF is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, WDAF or DBE?

WDAF is cheaper with a 0.45% expense ratio, compared with 0.78% for DBE.

Which ETF pays a higher dividend yield, WDAF or DBE?

DBE has the higher dividend yield at 2.10%, compared with 0.12% for WDAF.

What is the main difference between WDAF and DBE?

WDAF is categorized as Aerospace & Defense, while DBE is Oil & Gas. WDAF tracks WisdomTree Asia Defense Index, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: WisdomTree and Invesco. Their fees differ too: 0.45% for WDAF and 0.78% for DBE.