DBMF vs SPY

Comparison between IMGP DBI MANAGED FUTURES STRATEGY ETF (DBMF, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed DBMF, delivering a return of +13.3% compared to +8.1%

DBMF vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	DBMF(ETF)	SPY(ETF)
Net Assets	$3.30B	$652B
Expense Ratio	0.85%	0.09%
Max Drawdown	29.26%	56.47%
Sharpe Ratio	1.83	2.07
5Y Beta	0.27	1.00
P/E Ratio	N/A	28.24
Forward P/E	N/A	21.85
5Y Dividends CAGR	51.19%	5.43%
5Y EPS CAGR	N/A	25.79%
Debt to Equity	N/A	22.35%
P/S Ratio	N/A	3.55
P/B Ratio	N/A	5.29

Net Assets

DBMF

$3.30B

Winner

SPY

$652B

Expense Ratio

DBMF

0.85%

Winner

SPY

0.09%

Max Drawdown

Winner

DBMF

29.26%

SPY

56.47%

Sharpe Ratio

DBMF

1.83

Winner

SPY

2.07

5Y Beta

Winner

DBMF

0.27

SPY

1.00

P/E Ratio

DBMF

N/A

SPY

28.24

Forward P/E

DBMF

N/A

SPY

21.85

5Y Dividends CAGR

Winner

DBMF

51.19%

SPY

5.43%

5Y EPS CAGR

DBMF

N/A

SPY

25.79%

Debt to Equity

DBMF

N/A

SPY

22.35%

P/S Ratio

DBMF

N/A

SPY

3.55

P/B Ratio

DBMF

N/A

SPY

5.29

DBMF vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	DBMF	SPY
1 month	+1.69%	+9.11%
3 months	+0.62%	+6.59%
6 months	+13.99%	+10.56%
1 year	+28.85%	+32.04%
5 years(CAGR)	+8.14%	+13.35%
10 years(CAGR)	N/A	+15.49%
Max(CAGR)	+9.28%	+8.50%

DBMF

+1.69%

Winner

SPY

+9.11%

DBMF

+0.62%

Winner

SPY

+6.59%

Winner

DBMF

+13.99%

SPY

+10.56%

DBMF

+28.85%

Winner

SPY

+32.04%

5Y(CAGR)

DBMF

+8.14%

Winner

SPY

+13.35%

10Y(CAGR)

DBMF

N/A

SPY

+15.49%

Max(CAGR)

Winner

DBMF

+9.28%

SPY

+8.50%

DBMF vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	DBMF	SPY
2026	+9.45%	+8.27%
2025	+13.02%	+18.00%
2024	+7.00%	+25.59%
2023	-8.72%	+26.72%
2022	+20.44%	-18.64%
2021	+11.21%	+30.52%
2020	+0.47%	+17.28%
2019	+10.68%	+31.09%
2018	N/A	-5.24%
2017	N/A	+20.78%
2016	N/A	+13.59%
2015	N/A	+1.31%
2014	N/A	+14.56%
2013	N/A	+29.00%
2012	N/A	+14.17%
2011	N/A	+0.85%
2010	N/A	+13.14%
2009	N/A	+22.67%
2008	N/A	-36.25%
2007	N/A	+5.32%
2006	N/A	+13.85%
2005	N/A	+5.32%
2004	N/A	+10.75%
2003	N/A	+24.18%
2002	N/A	-22.42%
2001	N/A	-10.13%
2000	N/A	-8.84%
1999	N/A	+8.61%

DBMF vs SPY Drawdown Comparison

The maximum drawdown for DBMF was -20.44%, occurring on Mar 24, 2023. Recovery took 794 trading sessions.

The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current DBMF drawdown is -2.10%.

Rank	DBMF	SPY
#1	-20.44% Oct 20, 2022 - Dec 19, 2025	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-10.43% Feb 20, 2020 - Feb 8, 2021	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-7.38% Jun 13, 2022 - Sep 21, 2022	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-6.73% Sep 4, 2019 - Jan 16, 2020	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-6.18% Nov 16, 2021 - Feb 11, 2022	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	-6.10% Feb 27, 2026 - Mar 23, 2026	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	-5.50% Jun 15, 2021 - Nov 9, 2021	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	-4.75% Sep 27, 2022 - Oct 19, 2022	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	-4.03% Mar 17, 2021 - Apr 19, 2021	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	-3.89% May 6, 2022 - Jun 8, 2022	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	-3.71% Jan 29, 2026 - Feb 9, 2026	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	-3.55% Mar 8, 2022 - Mar 21, 2022	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	-3.36% Feb 24, 2021 - Mar 11, 2021	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	-2.86% May 2, 2022 - May 6, 2022	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	-2.74% Mar 23, 2022 - Apr 5, 2022	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between DBMF and SPY is 0.81 which considered as a strong positive correlation - the stocks tend to move together.

0.81

-101

Dividend Comparison (1999 - 2026)

DBMF vs SPY dividend yield comparison.

Year	DBMF	SPY
2026	0.39%	0.24%
2025	5.91%	1.07%
2024	5.75%	1.21%
2023	2.91%	1.40%
2022	7.72%	1.65%
2021	10.38%	1.20%
2020	0.86%	1.52%
2019	9.35%	1.75%
2018	0.00%	2.04%
2017	0.00%	1.80%
2016	0.00%	2.03%
2015	0.00%	2.06%
2014	0.00%	1.87%
2013	0.00%	1.81%
2012	0.00%	2.18%
2011	0.00%	2.05%
2010	0.00%	1.80%
2009	0.00%	1.95%
2008	0.00%	3.02%
2007	0.00%	1.85%
2006	0.00%	1.73%
2005	0.00%	1.73%
2004	0.00%	1.82%
2003	0.00%	1.47%
2002	0.00%	1.70%
2001	0.00%	1.25%
2000	0.00%	1.15%
1999	0.00%	0.24%