ZTEN vs. DBE
ZTEN (F/M 10-Year Investment Grade Corporate Bond ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - ZTEN is a Long-Term Bond fund tracking the ICE 10-Year US Target Maturity Corporate Index - Benchmark TR Gross, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past year, ZTEN returned 6.32% vs 81.31% for DBE. At a correlation of -0.31, they often move in opposite directions. ZTEN charges 0.15%/yr vs 0.78%/yr for DBE.
Performance
ZTEN vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, ZTEN achieves a 0.33% return, which is significantly lower than DBE's 79.04% return.
ZTEN
- 1D
- 0.16%
- 1M
- 0.29%
- YTD
- 0.33%
- 6M
- 0.40%
- 1Y
- 6.32%
- 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%
ZTEN vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
ZTEN F/M 10-Year Investment Grade Corporate Bond ETF | 0.33% | 9.15% | 0.29% |
DBE Invesco DB Energy Fund | 79.04% | -2.17% | 3.72% |
Correlation
The correlation between ZTEN and DBE is -0.41, 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 | -0.41 |
Correlation (All Time) Calculated using the full available price history since Dec 20, 2024 | -0.31 |
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Return for Risk
ZTEN vs. DBE — Risk / Return Rank
ZTEN
DBE
ZTEN vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for F/M 10-Year Investment Grade Corporate Bond ETF (ZTEN) 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.
| ZTEN | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.05 | ||
| Sortino ratioReturn per unit of downside risk | -1.00 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.39 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.91 | 5.67 | -3.76 |
| Martin ratioReturn relative to average drawdown | 6.21 | 11.08 | -4.87 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ZTEN | DBE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.28 | 2.33 | -1.05 |
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 | 1.16 | 0.09 | +1.07 |
Drawdowns
ZTEN vs. DBE - Drawdown Comparison
The maximum ZTEN drawdown since its inception was -3.43%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for ZTEN and DBE.
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Drawdown Indicators
| ZTEN | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.43% | -86.69% | +83.26% |
Max Drawdown (1Y)Largest decline over 1 year | -3.32% | -14.41% | +11.09% |
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 | -1.30% | -32.03% | +30.73% |
Average DrawdownAverage peak-to-trough decline | -0.79% | -57.30% | +56.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.02% | 7.37% | -6.35% |
Volatility
ZTEN vs. DBE - Volatility Comparison
The current volatility for F/M 10-Year Investment Grade Corporate Bond ETF (ZTEN) is 1.60%, while Invesco DB Energy Fund (DBE) has a volatility of 13.05%. This indicates that ZTEN 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
| ZTEN | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.60% | 13.05% | -11.45% |
Volatility (6M)Calculated over the trailing 6-month period | 3.77% | 30.97% | -27.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.99% | 35.07% | -30.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.79% | 29.41% | -23.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.79% | 28.34% | -22.55% |
ZTEN vs. DBE - Expense Ratio Comparison
ZTEN has a 0.15% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
ZTEN vs. DBE - Dividend Comparison
ZTEN's dividend yield for the trailing twelve months is around 5.07%, more than DBE's 2.16% yield.
| 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% |
ZTEN F/M 10-Year Investment Grade Corporate Bond ETF | 5.07% | 5.16% | 0.44% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ZTEN and DBE have a correlation of -0.41, 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 ZTEN (1.60%). In terms of maximum drawdown, ZTEN dropped -3.43% vs DBE's -86.69%.
On 1-year performance, DBE leads with 81.31% vs 6.32% for ZTEN. On fees, ZTEN is cheaper at 0.15% per year. On volatility, ZTEN has been the lower-risk option at 1.60%. 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 6.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ZTEN is cheaper with a 0.15% expense ratio, compared with 0.78% for DBE.
ZTEN has the higher dividend yield at 5.07%, compared with 2.16% for DBE.
ZTEN is categorized as Long-Term Bond, while DBE is Oil & Gas. ZTEN tracks ICE 10-Year US Target Maturity Corporate Index - Benchmark TR Gross, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: F/m and Invesco. Their fees differ too: 0.15% for ZTEN and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (2.33 vs 1.28), 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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