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DBMF

GradeBNew York Stock Exchange Arca

iMGP DBi Managed Futures Strategy ETF

Multi-Asset & Alternatives · IMGP · Inception 2019-05-07 · SEC filings

$32.48+0.59 (+1.85%)

As of Sep 23, 2026, 3:05 PM EDT

Intraday session: up, 68 prints from 31.89 to 32.48. Range 32.11 to 32.55. Use the arrow keys to read each point.$32.20$32.40$32.6010 AM12 PM2 PM4 PM
Expense ratio
0.85%
Fund size
$5.0B
1Y return
+23.6%
Yield · Last 12 months
4.95%
Volume · 30D
2M sh
NAV per share
$32.06
52W range
low $27.05high $32.33

The ETF.net DBMF Grade

B

61/ 100

Rank 5 of 16 in Managed Futures⁠

Confidence Medium

Six-pillar profile for DBMF. Scores out of 100: Cost 40, Risk 58, Mission not scored, Tradability 100, Holdings not scored, Durability 81. Strongest: Tradability (100). Weakest: Cost (40). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 61 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    CScore 40
    Category rank10/16 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    BScore 58
    Category rank6/15 · top 40%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 100
    Category rank1/16 · top 6%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    AScore 81
    Category rank3/16 · top 19%

Graded as of Sep 22, 2026 · Based on 4 of 6 pillars

Our read on DBMF

ETF.net Research

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

  1. 01Different 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
  2. 02Goes 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
  3. 030.85% expense ratio, below the median for its managed futures ETF peer group.
  4. 04A multi-billion-dollar fund that trades actively, with a live track record going back to its 2019 launch.

Worth knowing

  1. 01By 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
  2. 02Cheaper seats exist in the same cohort: CTA at 0.75% and ASMF at 0.80%.
  3. 03Non-diversified and built on derivatives, and cash comes quarterly rather than monthly.imgp.com

DBMF Holdings

As of Sep 21, 2026, 4:22 AM
Asset class
Other
Holdings
—
Top-10 weight
202%
Largest holding
US 2YR NOTE (CBT) DEC2673.3%

Sectors

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—US 2YR NOTE (CBT) DEC2673.31%-4,786,600,000$-4.9B20
002—US 10YR NOTE (CBT)DEC2668.77%-4,312,500,000$-4.6B13
003—EURO FX CURR FUT DEC2637.19%-2,150,500,000$-2.5B1
004—US LONG BOND(CBT) DEC2620.61%-1,275,800,000$-1.4B16
005—JPN YEN CURR FUT DEC261.45%-1,493,750$-96M1
006—MSCI EAFEDEC261.06%-22,100$-71M5

Showing 1–6 of 6 holdings

DBMF Performance

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

DBMF$12,356
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. DBMF $12,356. SPY $11,723. Use the arrow keys to read each point.$9,295$11,010$12,725Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 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+14.7%
1 month+1.7%
3 months+3.6%
1 year+23.6%
3 years+9.4%per year
5 years+9.6%per year
10 yearsFund is under 10 years old—per year

As of the close, 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+14.7%
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 Sep 22, 2026.
4.95%Last 12 months
Payout per share
$1.58Last 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. 18 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. Use the arrow keys to read each point.20192020202120222023202420252026YTD
Ex-datePay dateAmount per share
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
Dec 28, 2022Dec 30, 2022$2.25

DBMF Risk

How much the fund’s monthly returns vary, scaled to a year.
10.5%
Annualised · 36 months to Aug 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.
0.51
vs 3-month T-bills · to Aug 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.

DBMF Cost

Expense ratio0.85%
  • The middle half of Managed Futures funds
  • Median 0.85%

6 of the 13 Managed Futures funds charge less.

DBMF costs $85.00 a year on $10,000. The median Managed Futures fund costs $85.00.