XMLV vs. DBE
XMLV (Invesco S&P MidCap Low Volatility ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - XMLV is a Volatility Hedged Equity fund tracking the S&P MidCap 400 Low Volatility Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 10 years, XMLV returned 7.60%/yr vs 12.03%/yr for DBE. At a 0.14 correlation, their price movements are largely independent. XMLV charges 0.25%/yr vs 0.78%/yr for DBE.
Performance
XMLV vs. DBE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, XMLV achieves a 2.54% return, which is significantly lower than DBE's 83.68% return. Over the past 10 years, XMLV has underperformed DBE with an annualized return of 7.60%, while DBE has yielded a comparatively higher 12.03% annualized return.
XMLV
- 1D
- -0.36%
- 1M
- -2.36%
- YTD
- 2.54%
- 6M
- 2.22%
- 1Y
- 5.54%
- 3Y*
- 10.18%
- 5Y*
- 5.52%
- 10Y*
- 7.60%
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%
XMLV vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XMLV Invesco S&P MidCap Low Volatility ETF | 2.54% | 5.55% | 17.08% | 1.86% | -6.55% | 23.00% | -8.42% | 23.77% | -0.16% | 13.72% |
DBE Invesco DB Energy Fund | 83.68% | -2.17% | 2.96% | -12.14% | 33.77% | 57.56% | -25.91% | 19.72% | -12.95% | 5.21% |
Correlation
The correlation between XMLV and DBE is -0.19, 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 | -0.19 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.13 |
Correlation (All Time) Calculated using the full available price history since Feb 19, 2013 | 0.14 |
The correlation between XMLV and DBE shifts across timeframes, from -0.19 (1 year) to 0.14 (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.
Return for Risk
XMLV vs. DBE — Risk / Return Rank
XMLV
DBE
XMLV vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P MidCap Low Volatility ETF (XMLV) 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.
| XMLV | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.89 | ||
| Sortino ratioReturn per unit of downside risk | -2.12 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.40 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | 0.79 | 5.89 | -5.10 |
| Martin ratioReturn relative to average drawdown | 2.66 | 11.53 | -8.87 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| XMLV | DBE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.54 | 2.43 | -1.89 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.38 | 0.67 | -0.29 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.45 | 0.43 | +0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.60 | 0.09 | +0.50 |
Drawdowns
XMLV vs. DBE - Drawdown Comparison
The maximum XMLV drawdown since its inception was -39.86%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for XMLV and DBE.
Loading charts...
Drawdown Indicators
| XMLV | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.86% | -86.69% | +46.83% |
Max Drawdown (1Y)Largest decline over 1 year | -7.03% | -14.41% | +7.38% |
Max Drawdown (3Y)Largest decline over 3 years | -13.80% | -23.89% | +10.09% |
Max Drawdown (5Y)Largest decline over 5 years | -16.53% | -38.74% | +22.21% |
Max Drawdown (10Y)Largest decline over 10 years | -39.86% | -60.84% | +20.98% |
Current DrawdownCurrent decline from peak | -4.89% | -30.27% | +25.38% |
Average DrawdownAverage peak-to-trough decline | -4.26% | -57.31% | +53.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.09% | 7.35% | -5.26% |
Volatility
XMLV vs. DBE - Volatility Comparison
The current volatility for Invesco S&P MidCap Low Volatility ETF (XMLV) is 3.06%, while Invesco DB Energy Fund (DBE) has a volatility of 12.95%. This indicates that XMLV 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.
Loading charts...
Volatility by Period
| XMLV | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.06% | 12.95% | -9.89% |
Volatility (6M)Calculated over the trailing 6-month period | 7.34% | 30.86% | -23.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.35% | 34.97% | -24.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.46% | 29.39% | -14.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.97% | 28.33% | -11.36% |
XMLV vs. DBE - Expense Ratio Comparison
XMLV has a 0.25% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
XMLV vs. DBE - Dividend Comparison
XMLV's dividend yield for the trailing twelve months is around 2.91%, more than DBE's 2.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.10% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% | 0.00% | 0.00% | 0.00% |
XMLV Invesco S&P MidCap Low Volatility ETF | 2.91% | 2.87% | 2.23% | 2.34% | 2.05% | 1.14% | 1.93% | 2.02% | 2.13% | 1.74% | 1.72% | 1.85% |
Frequently Asked Questions
XMLV and DBE have a correlation of -0.19, 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 XMLV (3.06%). In terms of maximum drawdown, XMLV dropped -39.86% vs DBE's -86.69%.
On 10-year performance, DBE leads with 12.03% vs 7.60% for XMLV. On fees, XMLV is cheaper at 0.25% per year. On volatility, XMLV has been the lower-risk option at 3.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DBE has performed better with a 12.03% return vs 7.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XMLV is cheaper with a 0.25% expense ratio, compared with 0.78% for DBE.
XMLV has the higher dividend yield at 2.91%, compared with 2.10% for DBE.
XMLV is categorized as Volatility Hedged Equity, while DBE is Oil & Gas. XMLV tracks S&P MidCap 400 Low Volatility Index, while DBE tracks DBIQ Optimum Yield Energy Index. Their fees differ too: 0.25% for XMLV and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (2.43 vs 0.54), 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.
Find the right allocation for XMLV and DBE
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer