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XLY vs. DBE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

XLY vs. DBE

Last updated Jun 5, 2026

XLY (Consumer Discretionary Select Sector SPDR Fund) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - XLY is a Consumer Discretionary Equities fund tracking the Consumer Discretionary Select Sector Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 10 years, XLY returned 12.63%/yr vs 11.58%/yr for DBE. At a 0.19 correlation, their price movements are largely independent. XLY charges 0.13%/yr vs 0.78%/yr for DBE.

Performance

XLY vs. DBE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Consumer Discretionary Select Sector SPDR Fund (XLY) and Invesco DB Energy Fund (DBE). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, XLY achieves a -1.60% return, which is significantly lower than DBE's 79.04% return. Over the past 10 years, XLY has outperformed DBE with an annualized return of 12.63%, while DBE has yielded a comparatively lower 11.58% annualized return.

XLY

1D
0.45%
1M
-0.69%
YTD
-1.60%
6M
-1.13%
1Y
10.01%
3Y*
15.13%
5Y*
7.39%
10Y*
12.63%

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

XLY vs. DBE - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
XLY
Consumer Discretionary Select Sector SPDR Fund		-1.60%7.37%26.51%39.64%-36.27%27.93%29.63%28.39%1.58%22.82%
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 XLY and DBE is -0.32, 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

-0.32

Correlation (3Y)
Calculated over the trailing 3-year period

-0.10

Correlation (5Y)
Calculated over the trailing 5-year period

0.04

Correlation (10Y)
Calculated over the trailing 10-year period

0.14

Correlation (All Time)
Calculated using the full available price history since Jan 8, 2007

0.19

The correlation between XLY and DBE shifts across timeframes, from -0.32 (1 year) to 0.19 (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.

Consumer Discretionary Select Sector SPDR Fund

Invesco DB Energy Fund

Often compared with XLY:
XLY vs. XLPXLY vs. SPYXLY vs. XRTXLY vs. FDISXLY vs. ^GSPCXLY vs. QQQXLY vs. XLB
Often compared with DBE:
DBE vs. DBBDBE vs. XLEDBE vs. VDEDBE vs. COMTDBE vs. XLKDBE vs. GLDDBE vs. TIP

Return for Risk

XLY vs. DBE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
XLY
XLY Risk / Return Rank: 1818
Overall Rank
XLY Sharpe Ratio Rank: 1919
Sharpe Ratio Rank
XLY Sortino Ratio Rank: 1818
Sortino Ratio Rank
XLY Omega Ratio Rank: 1818
Omega Ratio Rank
XLY Calmar Ratio Rank: 1818
Calmar Ratio Rank
XLY Martin Ratio Rank: 2020
Martin Ratio Rank
DBE
DBE Risk / Return Rank: 7171
Overall Rank
DBE Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
DBE Sortino Ratio Rank: 6262
Sortino Ratio Rank
DBE Omega Ratio Rank: 6565
Omega Ratio Rank
DBE Calmar Ratio Rank: 9191
Calmar Ratio Rank
DBE Martin Ratio Rank: 6262
Martin Ratio Rank
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.

XLY vs. DBE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Consumer Discretionary Select Sector SPDR Fund (XLY) 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.

XLYDBEDifference
Sharpe ratioReturn per unit of total volatility
0.55
2.33

-1.78

Sortino ratioReturn per unit of downside risk
0.89
2.87

-1.97

Omega ratioGain probability vs. loss probability

1.10

1.39

-0.28

Calmar ratioReturn relative to maximum drawdown

0.67

5.67

-5.00

Martin ratioReturn relative to average drawdown

2.11

11.08

-8.97

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XLY vs. DBE - Sharpe Ratio Comparison

The current XLY Sharpe Ratio is 0.55, which is lower than the DBE Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of XLY and DBE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

XLYDBEDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.55

2.33

-1.78

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.31

0.65

-0.34

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.57

0.41

+0.16

Sharpe Ratio (All Time)

Calculated using the full available price history

0.43

0.09

+0.34

Drawdowns

XLY vs. DBE - Drawdown Comparison

The maximum XLY drawdown since its inception was -59.05%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for XLY and DBE.

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Drawdown Indicators

XLYDBEDifference

Max Drawdown

Largest peak-to-trough decline

-59.05%

-86.69%

+27.64%

Max Drawdown (1Y)

Largest decline over 1 year

-14.98%

-14.41%

-0.57%

Max Drawdown (3Y)

Largest decline over 3 years

-26.01%

-23.89%

-2.12%

Max Drawdown (5Y)

Largest decline over 5 years

-39.67%

-38.74%

-0.93%

Max Drawdown (10Y)

Largest decline over 10 years

-39.67%

-60.84%

+21.17%

Current Drawdown

Current decline from peak

-5.64%

-32.03%

+26.39%

Average Drawdown

Average peak-to-trough decline

-9.56%

-57.30%

+47.74%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.76%

7.37%

-2.61%

Volatility

XLY vs. DBE - Volatility Comparison

The current volatility for Consumer Discretionary Select Sector SPDR Fund (XLY) is 5.17%, while Invesco DB Energy Fund (DBE) has a volatility of 13.05%. This indicates that XLY 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

XLYDBEDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.17%

13.05%

-7.88%

Volatility (6M)

Calculated over the trailing 6-month period

13.10%

30.97%

-17.87%

Volatility (1Y)

Calculated over the trailing 1-year period

18.16%

35.07%

-16.91%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

23.78%

29.41%

-5.63%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.05%

28.34%

-6.29%

XLY vs. DBE - Expense Ratio Comparison

XLY has a 0.13% expense ratio, which is lower than DBE's 0.78% expense ratio.

Dividends

XLY vs. DBE - Dividend Comparison

XLY's dividend yield for the trailing twelve months is around 0.76%, less than DBE's 2.16% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
XLY
Consumer Discretionary Select Sector SPDR Fund		0.76%0.79%0.72%0.78%1.00%0.53%0.82%1.28%1.34%1.20%1.71%1.43%

Frequently Asked Questions

XLY and DBE have a correlation of -0.32, 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 XLY (5.17%). In terms of maximum drawdown, XLY dropped -59.05% vs DBE's -86.69%.

On 10-year performance, XLY leads with 12.63% vs 11.58% for DBE. On fees, XLY is cheaper at 0.13% per year. On volatility, XLY has been the lower-risk option at 5.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, XLY has performed better with a 12.63% return vs 11.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

XLY is cheaper with a 0.13% expense ratio, compared with 0.78% for DBE.

DBE has the higher dividend yield at 2.16%, compared with 0.76% for XLY.

XLY is categorized as Consumer Discretionary Equities, while DBE is Oil & Gas. XLY tracks Consumer Discretionary Select Sector Index, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.13% for XLY and 0.78% for DBE.

DBE currently has the higher Sharpe Ratio (2.33 vs 0.55), 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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