Invesco DB Energy Fund (DBE) Performance
DBE total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +134.8% since Dec 31, 2025
- 1 year
- +123.4% total return
- 5 years
- +20.6% a year
- 10 years
- +14.2% a year
- Since first price
- +3.9% a year since 2007
DBE trailing returns vs SPY, QQQ, AGG
| Period | DBE total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +10.6% | +10.6% | −1.0% | −5.0% | +0.9% |
| 3 months | +25.1% | +25.1% | +3.2% | +1.9% | −0.4% |
| 6 months | +32.9% | +32.9% | +7.8% | +8.4% | −1.5% |
| YTD | +134.8% | +134.8% | +12.3% | +15.1% | −1.0% |
| 1 year | +123.4% | +115.0% | +14.4% | +15.9% | −1.1% |
| 3 years | +103.4%+26.7%/yr | +77.0% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +155.6%+20.6%/yr | +120.8% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +276.4%+14.2%/yr | +214.1% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +78.1%+3.9%/yr | +48.6% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| Since inceptionJan 5, 2007 | +112.8%+3.9%/yr | +69.6% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: DBE vs SPY
From Jan 5, 2007: DBE grew to $21,282, SPY to $77,514.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
DBE returns by calendar year
11 of 18 full years positive. Best 2021 (+57.6%), worst 2008 (−41.9%). 2026 is year to date.
DBE annual returns table
| Year | DBE | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +134.8% | −24.7% | +12.3% | +15.1% | −1.0% |
| 2025 | −2.1% | −17.4% | +17.7% | +20.8% | +7.2% |
| 2024 | +3.0% | −17.4% | +24.9% | +25.6% | +1.3% |
| 2023 | −12.1% | −19.8% | +26.2% | +54.9% | +5.7% |
| 2022 | +33.8% | −29.7% | −18.2% | −32.6% | −13.0% |
| 2021 | +57.6% | −18.0% | +28.7% | +27.4% | −1.8% |
| 2020 | −25.9% | −52.7% | +18.3% | +48.6% | +7.5% |
| 2019 | +19.7% | −17.6% | +31.2% | +39.0% | +8.5% |
| 2018 | −13.0% | −34.0% | −4.6% | −0.1% | +0.1% |
| 2017 | +5.2% | −20.8% | +21.7% | +32.7% | +3.6% |
| 2016 | +23.3% | −20.2% | +12.0% | +7.1% | +2.4% |
| 2015 | −35.9% | −40.9% | +1.2% | +9.4% | +0.5% |
| 2014 | −40.1% | −44.7% | +13.5% | +19.2% | +6.0% |
| 2013 | +4.3% | −10.8% | +32.3% | +36.6% | −2.0% |
| 2012 | +1.2% | −25.2% | +16.0% | +18.1% | +3.8% |
| 2011 | +2.8% | −24.4% | +1.9% | +3.4% | +7.7% |
| 2010 | +2.6% | −20.7% | +15.1% | +19.9% | +6.4% |
| 2009 | +30.4% | −26.7% | +26.4% | +54.7% | +3.0% |
| 2008 | −41.9% | −66.6% | −36.8% | −41.7% | +7.9% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
DBE largest drawdowns
Now 10.8% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jul 3, 2008 | −86.7% | Apr 27, 2020 | not yet | 11.8 years | 18.3 years so far |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
DBE risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2007 |
|---|---|---|---|---|
| Annualized return | +21.7% | +20.2% | +13.5% | +3.2% |
| Volatility (annualized) | 34.6% | 31.6% | 29.4% | 28.3% |
| Sharpe ratio | 0.59 | 0.61 | 0.50 | 0.20 |
| Sortino ratio | 1.38 | 1.27 | 0.82 | 0.30 |
| Best month | +43.6% | +43.6% | +43.6% | +43.6% |
| Worst month | −13.4% | −14.5% | −28.1% | −29.1% |
| Best 12 months | +103.0% | +103.0% | +107.7% | +107.7% |
| Worst 12 months | −17.6% | −31.9% | −49.5% | −54.8% |
| Positive months | 53% | 52% | 57% | 54% |
| Beta vs S&P 500 | -0.55 | -0.02 | 0.50 | — |
| Correlation with S&P 500 | -0.20 | -0.01 | 0.26 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
DBE rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 226 | −54.8% | +1.9% | +122.7% | 53% |
| 3-year (a year) | 202 | −29.6% | +0.0% | +39.0% | 50% |
| 5-year (a year) | 178 | −20.0% | −0.7% | +22.5% | 49% |
| 10-year (a year) | 118 | −11.7% | −3.3% | +14.9% | 21% |
Every holding period starting at a month-end since 2007. Returns for 3 years and longer are annualized.
DBE performance overview
Invesco DB Energy Fund (DBE) returned +123.4% over the past year and +14.2% a year over ten years, with distributions reinvested. Since its first recorded price in 2007 it has returned +3.9% a year, turning $10,000 into about $21,282. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −86.7%, from Jul 3, 2008 to Apr 27, 2020; the fund has not yet regained that high. DBE finished 11 of its 18 full calendar years with a gain; the best year was 2021 (+57.6%) and the worst 2008 (−41.9%). Volatility has been 28.3% a year.
Related: DBE chart, DBE dividends. See the DBE overview for the latest quote and fund facts.
DBE performance FAQ
What is the DBE return over the past year?
DBE returned +123.4% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 115.0%.
What is the average annual return of DBE?
DBE has returned +20.6% a year over 5 years, +14.2% a year over 10 years, +3.9% a year since January 5, 2007 (total return, distributions reinvested).
How much would $10,000 invested in DBE be worth?
$10,000 invested in DBE at its first recorded close on January 5, 2007 would be worth about $21,282 on October 23, 2026 with distributions reinvested.
What was the worst year for DBE?
The worst calendar year was 2008, with a total return of −41.9%. The best was 2021 at +57.6%.
What is the biggest drawdown of DBE?
The largest peak-to-trough decline was −86.7% between July 3, 2008 and April 27, 2020. It has not yet recovered to that high; it is 10.8% below its peak.
How volatile is DBE?
Over the past 3 years DBE had an annualized volatility of 34.6% and a Sharpe ratio of 0.59 (excess return over 1–3 month T-bills per unit of risk).