ZDEK vs. DBE
ZDEK (Innovator Equity Defined Protection ETF - 1 Yr December) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - ZDEK is a Defined Outcome fund actively managed by Innovator, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. ZDEK is actively managed, while DBE is passively managed. Over the past year, ZDEK returned 9.11% vs 81.31% for DBE. At a correlation of -0.15, they often move in opposite directions. ZDEK charges 0.79%/yr vs 0.78%/yr for DBE.
Performance
ZDEK vs. DBE - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, ZDEK achieves a 2.63% return, which is significantly lower than DBE's 79.04% return.
ZDEK
- 1D
- 0.08%
- 1M
- 0.78%
- YTD
- 2.63%
- 6M
- 2.86%
- 1Y
- 9.11%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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%
ZDEK vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ZDEK Innovator Equity Defined Protection ETF - 1 Yr December | 2.63% | 7.78% | -0.38% |
DBE Invesco DB Energy Fund | 79.04% | -2.17% | 4.95% |
Correlation
The correlation between ZDEK and DBE is -0.30, 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 | -0.30 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2024 | -0.15 |
The correlation between ZDEK and DBE shifts across timeframes, from -0.30 (1 year) to -0.15 (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
ZDEK vs. DBE — Risk / Return Rank
ZDEK
DBE
ZDEK vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Defined Protection ETF - 1 Yr December (ZDEK) 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.
| ZDEK | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.98 | ||
| Sortino ratioReturn per unit of downside risk | +2.30 | ||
| Omega ratioGain probability vs. loss probability | 1.72 | 1.39 | +0.33 |
| Calmar ratioReturn relative to maximum drawdown | 6.07 | 5.67 | +0.40 |
| Martin ratioReturn relative to average drawdown | 31.09 | 11.08 | +20.01 |
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
| ZDEK | DBE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.31 | 2.33 | +0.98 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.65 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.41 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.04 | 0.09 | +1.95 |
Drawdowns
ZDEK vs. DBE - Drawdown Comparison
The maximum ZDEK drawdown since its inception was -3.40%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for ZDEK and DBE.
Loading charts...
Drawdown Indicators
| ZDEK | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.40% | -86.69% | +83.29% |
Max Drawdown (1Y)Largest decline over 1 year | -1.51% | -14.41% | +12.90% |
Max Drawdown (3Y)Largest decline over 3 years | — | -23.89% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -38.74% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -60.84% | — |
Current DrawdownCurrent decline from peak | 0.00% | -32.03% | +32.03% |
Average DrawdownAverage peak-to-trough decline | -0.45% | -57.30% | +56.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.29% | 7.37% | -7.08% |
Volatility
ZDEK vs. DBE - Volatility Comparison
The current volatility for Innovator Equity Defined Protection ETF - 1 Yr December (ZDEK) is 0.35%, while Invesco DB Energy Fund (DBE) has a volatility of 13.05%. This indicates that ZDEK 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
| ZDEK | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.35% | 13.05% | -12.70% |
Volatility (6M)Calculated over the trailing 6-month period | 1.64% | 30.97% | -29.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.76% | 35.07% | -32.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.31% | 29.41% | -26.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.31% | 28.34% | -25.03% |
ZDEK vs. DBE - Expense Ratio Comparison
ZDEK has a 0.79% expense ratio, which is higher than DBE's 0.78% expense ratio.
Dividends
ZDEK vs. DBE - Dividend Comparison
ZDEK has not paid dividends to shareholders, while DBE's dividend yield for the trailing twelve months is around 2.16%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.16% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% |
ZDEK Innovator Equity Defined Protection ETF - 1 Yr December | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZDEK and DBE have a correlation of -0.30, 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 ZDEK (0.35%). In terms of maximum drawdown, ZDEK dropped -3.40% vs DBE's -86.69%.
On 1-year performance, DBE leads with 81.31% vs 9.11% for ZDEK. On fees, DBE is cheaper at 0.78% per year. On volatility, ZDEK has been the lower-risk option at 0.35%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DBE has performed better with a 81.31% return vs 9.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DBE is cheaper with a 0.78% expense ratio, compared with 0.79% for ZDEK.
DBE has the higher dividend yield at 2.16%, compared with 0.00% for ZDEK.
ZDEK is categorized as Defined Outcome, while DBE is Oil & Gas. They also come from different issuers: Innovator and Invesco. Their fees differ too: 0.79% for ZDEK and 0.78% for DBE.
ZDEK currently has the higher Sharpe Ratio (3.31 vs 2.33), 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 ZDEK 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