XMAR vs. DBE

Last updated Jun 3, 2026

XMAR (FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - March) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - XMAR is a Options Trading fund actively managed by FT Vest, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. XMAR is actively managed, while DBE is passively managed. Over the past 3 years, XMAR returned 11.18%/yr vs 22.48%/yr for DBE. At a correlation of -0.03, they often move in opposite directions. XMAR charges 0.85%/yr vs 0.78%/yr for DBE.

Performance

XMAR vs. DBE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - March (XMAR) 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, XMAR achieves a 6.66% return, which is significantly lower than DBE's 79.50% return.

XMAR

• 1D: -0.15%
• 1M: 1.13%
• YTD: 6.66%
• 6M: 7.46%
• 1Y: 13.17%
• 3Y*: 11.18%
• 5Y*: —
• 10Y*: —

DBE

• 1D: 0.80%
• 1M: -3.65%
• YTD: 79.50%
• 6M: 72.59%
• 1Y: 82.31%
• 3Y*: 22.48%
• 5Y*: 19.20%
• 10Y*: 11.78%

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

XMAR vs. DBE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
XMAR FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - March	6.66%	10.30%	10.10%	10.30%
DBE Invesco DB Energy Fund	79.50%	-2.17%	2.96%	2.54%

Correlation

The correlation between XMAR and DBE is -0.26, 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	-0.26
Correlation (3Y) Calculated over the trailing 3-year period	-0.07
Correlation (All Time) Calculated using the full available price history since Mar 21, 2023	-0.03

Over the past year, the inverse relationship between XMAR and DBE has strengthened: their correlation has moved from -0.03 to -0.26, meaning they now move in opposite directions more often than their long-term average.

Return for Risk

XMAR vs. DBE — Risk / Return Rank

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

XMAR

XMAR Risk / Return Rank: 97
XMAR Sharpe Ratio Rank: 96
XMAR Sortino Ratio Rank: 98
XMAR Omega Ratio Rank: 98
XMAR Calmar Ratio Rank: 96
XMAR Martin Ratio Rank: 98

DBE

DBE Risk / Return Rank: 71
DBE Sharpe Ratio Rank: 71
DBE Sortino Ratio Rank: 61
DBE Omega Ratio Rank: 64
DBE Calmar Ratio Rank: 92
DBE Martin Ratio Rank: 65

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.

XMAR vs. DBE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - March (XMAR) 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.

	XMAR	DBE	Difference
Sharpe ratio Return per unit of total volatility	4.40	2.37	+2.03
Sortino ratio Return per unit of downside risk	7.61	2.91	+4.71
Omega ratio Gain probability vs. loss probability	2.22	1.39	+0.83
Calmar ratio Return relative to maximum drawdown	9.04	6.10	+2.94
Martin ratio Return relative to average drawdown	69.02	11.98	+57.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XMAR vs. DBE - Sharpe Ratio Comparison

The current XMAR Sharpe Ratio is 4.40, which is higher than the DBE Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of XMAR 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.

Sharpe Ratios by Period

	XMAR	DBE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	4.40	2.37	+2.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.66	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.42	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.13	0.09	+2.04

Drawdowns

XMAR vs. DBE - Drawdown Comparison

The maximum XMAR drawdown since its inception was -7.29%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for XMAR and DBE.

Drawdown Indicators

	XMAR	DBE	Difference
Max Drawdown Largest peak-to-trough decline	-7.29%	-86.69%	+79.40%
Max Drawdown (1Y) Largest decline over 1 year	-1.48%	-14.41%	+12.93%
Max Drawdown (3Y) Largest decline over 3 years	-7.29%	-23.89%	+16.60%
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	-0.15%	-31.85%	+31.70%
Average Drawdown Average peak-to-trough decline	-0.30%	-57.31%	+57.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.19%	7.34%	-7.15%

Volatility

XMAR vs. DBE - Volatility Comparison

The current volatility for FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - March (XMAR) is 0.66%, while Invesco DB Energy Fund (DBE) has a volatility of 13.47%. This indicates that XMAR 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.

Volatility by Period

	XMAR	DBE	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.66%	13.47%	-12.81%
Volatility (6M) Calculated over the trailing 6-month period	2.40%	30.80%	-28.40%
Volatility (1Y) Calculated over the trailing 1-year period	3.01%	35.02%	-32.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.56%	29.37%	-23.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.56%	28.33%	-22.77%

XMAR vs. DBE - Expense Ratio Comparison

XMAR has a 0.85% expense ratio, which is higher than DBE's 0.78% expense ratio.

Dividends

XMAR vs. DBE - Dividend Comparison

XMAR has not paid dividends to shareholders, while DBE's dividend yield for the trailing twelve months is around 2.15%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
DBE Invesco DB Energy Fund	2.15%	3.86%	6.32%	3.87%	0.75%	0.00%	0.00%	1.79%	1.67%
XMAR FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - March	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XMAR and DBE in my portfolio?

XMAR and DBE have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XMAR or DBE?

DBE has higher volatility (13.47%) compared to XMAR (0.66%). In terms of maximum drawdown, XMAR dropped -7.29% vs DBE's -86.69%.

Which ETF is better, XMAR or DBE?

On 3-year performance, DBE leads with 22.48% vs 11.18% for XMAR. On fees, DBE is cheaper at 0.78% per year. On volatility, XMAR has been the lower-risk option at 0.66%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XMAR or DBE?

Over the 3-year period, DBE has performed better with a 22.48% return vs 11.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XMAR or DBE?

DBE is cheaper with a 0.78% expense ratio, compared with 0.85% for XMAR.

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

DBE has the higher dividend yield at 2.15%, compared with 0.00% for XMAR.

What is the main difference between XMAR and DBE?

XMAR is categorized as Options Trading, while DBE is Oil & Gas. They also come from different issuers: FT Vest and Invesco. Their fees differ too: 0.85% for XMAR and 0.78% for DBE.

Which has better risk-adjusted returns?

XMAR currently has the higher Sharpe Ratio (4.40 vs 2.37), 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.