XSD vs. DBE
XSD (SPDR S&P Semiconductor ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - XSD is a Semiconductors fund tracking the S&P Semiconductor Select Industry, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 10 years, XSD returned 31.10%/yr vs 12.03%/yr for DBE. At a 0.21 correlation, their price movements are largely independent. XSD charges 0.35%/yr vs 0.78%/yr for DBE.
Performance
XSD vs. DBE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, XSD achieves a 102.14% return, which is significantly higher than DBE's 83.68% return. Over the past 10 years, XSD has outperformed DBE with an annualized return of 31.10%, while DBE has yielded a comparatively lower 12.03% annualized return.
XSD
- 1D
- 1.51%
- 1M
- 30.91%
- YTD
- 102.14%
- 6M
- 92.84%
- 1Y
- 180.25%
- 3Y*
- 46.41%
- 5Y*
- 29.69%
- 10Y*
- 31.10%
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%
XSD vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XSD SPDR S&P Semiconductor ETF | 102.14% | 29.85% | 10.75% | 34.87% | -30.92% | 42.54% | 61.95% | 64.66% | -6.35% | 25.21% |
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 XSD and DBE is -0.21, 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 | -0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
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 | 0.21 |
The correlation between XSD and DBE shifts across timeframes, from -0.21 (1 year) to 0.21 (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
XSD vs. DBE — Risk / Return Rank
XSD
DBE
XSD vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Semiconductor ETF (XSD) 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.
| XSD | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.58 | ||
| Sortino ratioReturn per unit of downside risk | +2.07 | ||
| Omega ratioGain probability vs. loss probability | 1.65 | 1.40 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 9.75 | 5.89 | +3.86 |
| Martin ratioReturn relative to average drawdown | 33.91 | 11.53 | +22.38 |
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
| XSD | DBE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 5.00 | 2.43 | +2.58 |
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 | +0.47 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.09 | +0.34 |
Drawdowns
XSD vs. DBE - Drawdown Comparison
The maximum XSD drawdown since its inception was -64.56%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for XSD and DBE.
Loading charts...
Drawdown Indicators
| XSD | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.56% | -86.69% | +22.13% |
Max Drawdown (1Y)Largest decline over 1 year | -18.61% | -14.41% | -4.20% |
Max Drawdown (3Y)Largest decline over 3 years | -41.25% | -23.89% | -17.36% |
Max Drawdown (5Y)Largest decline over 5 years | -42.27% | -38.74% | -3.53% |
Max Drawdown (10Y)Largest decline over 10 years | -42.27% | -60.84% | +18.57% |
Current DrawdownCurrent decline from peak | 0.00% | -30.27% | +30.27% |
Average DrawdownAverage peak-to-trough decline | -13.74% | -57.31% | +43.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.34% | 7.35% | -2.01% |
Volatility
XSD vs. DBE - Volatility Comparison
SPDR S&P Semiconductor ETF (XSD) has a higher volatility of 14.94% compared to Invesco DB Energy Fund (DBE) at 12.95%. This indicates that XSD's price experiences larger fluctuations and is considered to be riskier than DBE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| XSD | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 14.94% | 12.95% | +1.99% |
Volatility (6M)Calculated over the trailing 6-month period | 27.89% | 30.86% | -2.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 36.39% | 34.97% | +1.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.25% | 29.39% | +8.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.96% | 28.33% | +6.63% |
XSD vs. DBE - Expense Ratio Comparison
XSD has a 0.35% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
XSD vs. DBE - Dividend Comparison
XSD'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 | 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% |
XSD SPDR S&P Semiconductor ETF | 0.12% | 0.26% | 0.20% | 0.31% | 0.44% | 0.10% | 0.26% | 0.51% | 1.16% | 0.59% | 0.64% | 0.58% |
Frequently Asked Questions
XSD and DBE have a correlation of -0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XSD has higher volatility (14.94%) compared to DBE (12.95%). In terms of maximum drawdown, XSD dropped -64.56% vs DBE's -86.69%.
On 10-year performance, XSD leads with 31.10% vs 12.03% for DBE. On fees, XSD is cheaper at 0.35% per year. On volatility, DBE has been the lower-risk option at 12.95%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, XSD has performed better with a 31.10% return vs 12.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
XSD 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 0.12% for XSD.
XSD is categorized as Semiconductors, while DBE is Oil & Gas. XSD tracks S&P Semiconductor Select Industry, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.35% for XSD and 0.78% for DBE.
XSD currently has the higher Sharpe Ratio (5.00 vs 2.43), 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 XSD 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