Skip to content
etf.net

Launched · SEC filings

iMGP DBi Managed Futures Strategy ETF

DBMFNYSE ArcaIMGPB

$31.54−0.69 (−2.13%)

As of Nov 4, 2026, 1:50 PM ET

B59/ 100

Rank 6 of 16 in Managed Futures

B59/100Rank 6 of 16inManaged Futures
Intraday session: down, 53 prints from 32.22 to 31.54. Range 31.45 to 31.96. Use the arrow keys to read each point.31.4031.8032.0010 AM12 PM2 PM4 PM
Expense ratio
0.85%
Fund size
$5.18B
1Y total return
+19.7%
Yield · Last 12 months
4.92%
Holdings
6
Avg volume · 30D
2.41M sh
52W range
low $27.91high $33.60
Launched
Filings
SEC EDGAR

The ETF.net DBMF Grade

Based on 5 of 6 pillars

B

Score 59 out of 100

Category
Managed Futures⁠
Rank
6 of 16
Six-pillar profile for DBMF. Scores out of 100: Cost 43, Risk 59, Mission not scored, Tradability 87, Holdings 0, Durability 81. Strongest: Tradability (87). Weakest: Holdings (0). Based on 5 of 6 pillars.

Score 59 of 100 falls in the B band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    C43 out of 100
    Rank 9 of 16

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B59 out of 100
    Rank 7 of 15

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A87 out of 100
    Rank 1 of 16

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    F0 out of 100
    Rank 5 of 6

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A81 out of 100
    Rank 2 of 16

Our read on DBMF

ETF.net Research

In short

BThe replication play. Rather than run its own trend model, DBMF reverse-engineers what the largest managed futures hedge funds are doing from their recent returns, then rebuilds that average bet in liquid futures, for 0.85%.

Stated mandate

The fund seeks long-term capital appreciation by taking long and short derivative positions, chiefly futures and forwards, across equities, fixed income, currencies, and commodities.

Why people hold it

  • Different engine: a quantitative model infers large CTA hedge funds' positioning from trailing returns and rebuilds it with futures and forwards, instead of riding one manager's signal.imgpfunds.comsec.gov
  • Goes long and short across equities, fixed income, currencies and commodities, so returns are driven by trends across those markets rather than by the stock market alone.imgpfunds.com
  • 0.85% expense ratio, below the median for its managed futures ETF peer group.
  • A multi-billion-dollar fund that trades actively, with a live track record going back to its 2019 launch.

Worth knowing

  • By design it chases the average behavior of the big CTA managers, benchmarked to Societe Generale's CTA index, so it moves with the managed futures pack rather than apart from it.imgpfunds.com
  • Cheaper seats exist in the same cohort: CTA at 0.75% and ASMF at 0.80%.
  • Non-diversified and built on derivatives, and cash comes quarterly rather than monthly.imgp.com

DBMF Holdings

Holdings pillarF0 out of 100Rank 5 of 6 in Managed Futures
Asset class
Other
Holdings
6
Top-10 weight
195%
Largest holding
Us 2YR Note (Cbt) DEC2658.6%

Sectors

  • Technology29.8%
  • Health Care12.7%
  • Financials12.5%
  • Consumer Discretionary11.0%
  • Communication8.6%
  • Industrials8.4%
  • Consumer Staples6.1%
  • Energy3.9%
  • Real Estate2.5%
  • Utilities2.3%
  • Materials2.2%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataUs 2YR Note (Cbt) DEC2658.57%-4,304,800,000−$4.4B28
2No dataEuro Fx Curr Fut DEC2657.35%-3,844,250,000−$4.31B2
3No dataUs 10YR Note (CBT)DEC2649.57%-3,486,500,000−$3.73B17
4No dataMsci EAFEDEC2611.36%-274,200−$854M4
5No dataGold 100 Oz Futr DEC269.01%-170,700−$678M2
6No dataUs Long Bond(Cbt) DEC268.99%-624,400,000−$676M18

Showing 1–6 of 6 holdings

DBMF Performance

Launched May 7, 2019

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.
DBMF$11,967
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,158
Nov 3, 2025 to Nov 3, 2026. DBMF $11,967. SPY $11,158. Use the arrow keys to read each point.$10,000$11,000$12,000Nov 2025May 2026Nov 2026

Nov 3, 2025 – Nov 3, 2026

Returns run to the Nov 3, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for DBMF. Periods over one year show the average yearly return.
PeriodDBMF
Year to date+16.4%
1 month−2.1%
3 months+5.7%
1 year+19.7%
3 yearsper year+10.5%
5 yearsper year+9.2%
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for DBMF
YearReturn barDBMF
2026 YTD+16.4%
2025+13.8%
2024+7.2%
2023−8.9%
2022+21.5%
2021+11.4%
2020+1.8%

DBMF in the news

DBMF Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Nov 3, 2026.
4.92%Last 12 months
Payout per share
$1.59Last 12 months
Last payment
$0.15 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2019–2026

One bar per payment. 19 payments from 2019 to 2026 YTD. Jun 27, 2019 $0.03; Sep 27, 2019 $0.05; Dec 27, 2019 $2.29; Mar 27, 2020 $0.02; Dec 29, 2020 $0.20; Dec 30, 2021 $2.68; Dec 28, 2022 $2.25; Dec 27, 2023 $0.75; Mar 26, 2024 $0.16; Jun 27, 2024 $0.25; Sep 27, 2024 $0.25; Dec 27, 2024 $0.84; Mar 27, 2025 $0.18; Jun 27, 2025 $0.17; Sep 29, 2025 $0.14; Dec 30, 2025 $1.17; Mar 30, 2026 $0.12; Jun 29, 2026 $0.15; Sep 29, 2026 $0.15. Use the arrow keys to read each point.20192020202120222023202420252026YTD
Ex-datePay dateAmount per share
Sep 29, 2026Sep 30, 2026$0.15
Jun 29, 2026Jun 30, 2026$0.15
Mar 30, 2026Mar 31, 2026$0.12
Dec 30, 2025Dec 31, 2025$1.17
Sep 29, 2025Sep 30, 2025$0.14
Jun 27, 2025Jun 30, 2025$0.17
Mar 27, 2025Mar 31, 2025$0.18
Dec 27, 2024Dec 30, 2024$0.84
Sep 27, 2024Sep 30, 2024$0.25
Jun 27, 2024Jun 28, 2024$0.25
Mar 26, 2024Mar 28, 2024$0.16
Dec 27, 2023Dec 29, 2023$0.75

See all 19 payments⁠

$10,000 in DBMF 5 years ago paid $3,193 in dividends.⁠

DBMF Risk

Risk pillarB59 out of 100Rank 7 of 15 in Managed Futures
How much the fund’s monthly returns vary, scaled to a year.
10.5%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.50
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−20.4%
Trough Mar 2023
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.08
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

DBMF Cost

Compare DBMF and JPFP

Overpaying vs JPFP, cheapest in Managed Futures

$4,564

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • DBMF 0.85%

    $16,199

  • JPFP 0.59% Cheapest

    $11,635

$10,000
30 years

Cost over time

  • DBMF 0.85%
  • JPFP 0.59%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530DBMF $16,199JPFP $11,635

Year by year

YearDBMFJPFPOverpaying
10$1,508$1,058$450
20$5,706$4,051$1,655
30$16,199$11,635$4,564

Other funds in Managed Futures

See others