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DBMF vs IMF

iMGP DBi Managed Futures Strategy ETF

DBMFBNYSE Arca

Invesco Managed Futures Strategy ETF

IMFACboe

Overlap

Expense ratio

IMF −0.20pt a year

DBMF0.85%IMF0.65%

Avg volume · 30D

DBMF 236.8×the volume

DBMF2.41MIMF10.2K

DBMF vs IMF Performance

Nov 3, 2025 – Nov 3, 2026

+19.7%DBMF+19.7%IMF

Nov 3, 2025 to Nov 3, 2026. DBMF +19.7%. IMF +19.7%. Use the arrow keys to read each point.0%5%10%25%Nov 2025May 2026Nov 2026
Expense ratio
DBMF 0.85%
IMF 0.65%, better
Fund size
DBMF $5.18B
IMF $303M
1Y total return
DBMF +19.7%
IMF +19.7%
Yield (12M)
DBMF 4.92%
IMF No data
Holdings
DBMF 6
IMF 17
Avg volume (30D)
DBMF 2.41M sh, better
IMF 10.2K sh
NAV per share
DBMF $32.48
IMF $52.30
52W range

ETF.net Grade

DBMF: Cost 43, Risk 59, Mission not scored, Tradability 87, Holdings 0, Durability 81. IMF: Cost 90, Risk 87, Mission not scored, Tradability 65, Holdings not scored, Durability 68.
Pillar letters and Scores for DBMF, IMF, with each pillar’s weight
PillarDBMFIMF
Cost30% weightC43A90Higher
Mission25% weightNot scoredNot scored
Risk15% weightB59A87Higher
Tradability15% weightA87HigherB65
Holdings10% weightF0Not scored
Durability5% weightA81HigherB68

Rank among Managed Futures funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. DBMF and IMF are both graded against the same 14 Managed Futures funds, so their Grades compare head to head.

Managed Futures⁠

Category · 14 funds
See all 14 ›

IMF ranks 1st and DBMF 6th of 14 funds in the Managed Futures Category.

  1. Rank 1AIMFInvesco Managed Futures Strategy ETFScore 81
  2. Rank 2AWTMFWisdomTree Managed Futures Strategy FundScore 75
  3. Rank 5BFFUTFidelity Managed Futures ETFScore 61
  4. Rank 6BDBMFiMGP DBi Managed Futures Strategy ETFScore 59
  5. Rank 7CFMFFirst Trust Managed Futures Strategy FundScore 46

Our read on each fund

ETF.net Research

DBMFBiMGP DBi Managed Futures Strategy ETF

IMFAInvesco Managed Futures Strategy ETF

In short

DBMF The 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%.

IMF No data

Stated mandate

DBMF 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.

IMF No data

Why people hold it

  • DBMF 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.

IMF No data

Worth knowing

  • DBMF 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

IMF No data

Full DBMF profile⁠

Full IMF profile⁠

DBMF vs IMF Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

DBMF vs IMF Cost

Overpaying DBMF vs IMF

$3,482

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

  • DBMF 0.85%

    $16,199

  • IMF 0.65%

    $12,717

$10,000
30 years

Cost over time

  • DBMF 0.85%
  • IMF 0.65%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530DBMF $16,199IMF $12,717

Year by year

YearDBMFIMFOverpaying
10$1,508$1,163$345
20$5,706$4,440$1,266
30$16,199$12,717$3,482

Expense ratio

  • 0.85%DBMF
  • 0.65%IMF, cheaper
  • Middle half of Managed Futures funds
  • Median 0.85%

IMF 2nd cheapest of 14 funds

DBMF 7th cheapest of 14 funds

DBMF vs IMF Dividends

Last 12 months to Nov 3, 2026
Yield (12M)
DBMF 4.92%
IMF No data
Payout (12M)
DBMF $1.59
IMF No data
Last payment
DBMF $0.15
IMF $0.46
Ex-dividend
DBMF Sep 29, 2026
IMF Dec 22, 2025
Paid on
DBMF Sep 30, 2026
IMF Dec 26, 2025
Frequency
DBMF Quarterly
IMF Irregular

Distribution history

Per share, 2019 to 2026, same scale for both

DBMFQuarterly · 19 paymentsAll DBMF payments⁠
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.$0$2.50202020232026YTD
IMFIrregular · 1 paymentAll IMF payments⁠
One bar per payment. 1 payment from 2019 to 2026 YTD. Dec 22, 2025 $0.46. Use the arrow keys to read each point.$0$2.50202020232026YTD

DBMF vs IMF Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
DBMF 10.5%IMF 11.8%since Apr 2025
Return per unit of riskSharpe ratio, 3 years
DBMF 0.50IMF 0.16since Apr 2025
Worst fallMax drawdown, 5 years
DBMF −20.4%IMF −15.1%since Mar 2025
Market sensitivityBeta, 5 years
DBMF 0.08IMF 0.09

DBMF and IMF in the news

All news⁠

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