XMMO vs. DBE
XMMO (Invesco S&P MidCap Momentum ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - XMMO is a Momentum fund tracking the S&P MidCap 400 Momentum Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 10 years, XMMO returned 19.73%/yr vs 12.03%/yr for DBE. At a 0.26 correlation, their price movements are largely independent. XMMO charges 0.35%/yr vs 0.78%/yr for DBE.
Performance
XMMO vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, XMMO achieves a 23.73% return, which is significantly lower than DBE's 83.68% return. Over the past 10 years, XMMO has outperformed DBE with an annualized return of 19.73%, while DBE has yielded a comparatively lower 12.03% annualized return.
XMMO
- 1D
- 0.62%
- 1M
- 6.87%
- YTD
- 23.73%
- 6M
- 25.73%
- 1Y
- 36.97%
- 3Y*
- 32.10%
- 5Y*
- 16.69%
- 10Y*
- 19.73%
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%
XMMO vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XMMO Invesco S&P MidCap Momentum ETF | 23.73% | 13.04% | 38.03% | 20.39% | -16.02% | 16.69% | 29.17% | 36.78% | 6.12% | 37.18% |
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 XMMO and DBE is -0.31, 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 | -0.31 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.06 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Jan 8, 2007 | 0.26 |
The correlation between XMMO and DBE shifts across timeframes, from -0.31 (1 year) to 0.26 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
XMMO vs. DBE — Risk / Return Rank
XMMO
DBE
XMMO vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P MidCap Momentum ETF (XMMO) 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.
| XMMO | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.40 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 4.45 | 5.89 | -1.44 |
| Martin ratioReturn relative to average drawdown | 18.21 | 11.53 | +6.68 |
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
| XMMO | DBE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.99 | 2.43 | -0.44 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.78 | 0.67 | +0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.89 | 0.43 | +0.46 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.58 | 0.09 | +0.48 |
Drawdowns
XMMO vs. DBE - Drawdown Comparison
The maximum XMMO drawdown since its inception was -55.37%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for XMMO and DBE.
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Drawdown Indicators
| XMMO | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.37% | -86.69% | +31.32% |
Max Drawdown (1Y)Largest decline over 1 year | -8.34% | -14.41% | +6.07% |
Max Drawdown (3Y)Largest decline over 3 years | -24.93% | -23.89% | -1.04% |
Max Drawdown (5Y)Largest decline over 5 years | -27.91% | -38.74% | +10.83% |
Max Drawdown (10Y)Largest decline over 10 years | -36.74% | -60.84% | +24.10% |
Current DrawdownCurrent decline from peak | 0.00% | -30.27% | +30.27% |
Average DrawdownAverage peak-to-trough decline | -9.45% | -57.31% | +47.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.04% | 7.35% | -5.31% |
Volatility
XMMO vs. DBE - Volatility Comparison
The current volatility for Invesco S&P MidCap Momentum ETF (XMMO) is 7.82%, while Invesco DB Energy Fund (DBE) has a volatility of 12.95%. This indicates that XMMO 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
| XMMO | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.82% | 12.95% | -5.13% |
Volatility (6M)Calculated over the trailing 6-month period | 15.54% | 30.86% | -15.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.71% | 34.97% | -16.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.45% | 29.39% | -7.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.27% | 28.33% | -6.06% |
XMMO vs. DBE - Expense Ratio Comparison
XMMO has a 0.35% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
XMMO vs. DBE - Dividend Comparison
XMMO's dividend yield for the trailing twelve months is around 0.60%, less 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% |
XMMO Invesco S&P MidCap Momentum ETF | 0.60% | 0.78% | 0.34% | 0.80% | 1.43% | 0.41% | 0.61% | 0.60% | 0.19% | 0.21% | 0.22% | 0.64% |
Frequently Asked Questions
XMMO and DBE have a correlation of -0.31, 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 XMMO (7.82%). In terms of maximum drawdown, XMMO dropped -55.37% vs DBE's -86.69%.
On 10-year performance, XMMO leads with 19.73% vs 12.03% for DBE. On fees, XMMO is cheaper at 0.35% per year. On volatility, XMMO has been the lower-risk option at 7.82%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, XMMO has performed better with a 19.73% return vs 12.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XMMO is cheaper with a 0.35% expense ratio, compared with 0.78% for DBE.
DBE has the higher dividend yield at 2.10%, compared with 0.60% for XMMO.
XMMO is categorized as Momentum, while DBE is Oil & Gas. XMMO tracks S&P MidCap 400 Momentum Index, while DBE tracks DBIQ Optimum Yield Energy Index. Their fees differ too: 0.35% for XMMO and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (2.43 vs 1.99), 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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