DBMF vs UTG

Comparison between IMGP DBI MANAGED FUTURES STRATEGY ETF (DBMF, ETF) and Reaves Utility Income Fund (UTG, ETF).

5-Year PerformanceUTG has outperformed DBMF, delivering a return of +11.9% compared to +8.7%

DBMF vs UTG - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	DBMF(ETF)	UTG(ETF)
Net Assets	$3.90B	$4B
Expense Ratio	0.85%	N/A
Max Drawdown	29.26%	71.97%
Sharpe Ratio	1.73	1.33
5Y Beta	0.27	0.51
5Y Dividends CAGR	51.19%	2.05%

Net Assets

DBMF

$3.90B

Winner

UTG

$4B

Expense Ratio

DBMF

0.85%

UTG

N/A

Max Drawdown

Winner

DBMF

29.26%

UTG

71.97%

Sharpe Ratio

Winner

DBMF

1.73

UTG

1.33

5Y Beta

Winner

DBMF

0.27

UTG

0.51

5Y Dividends CAGR

Winner

DBMF

51.19%

UTG

2.05%

DBMF vs UTG - Historical Returns

Returns include dividend reinvestment.

Period	DBMF	UTG
1 month	-1.25%	+3.61%
3 months	+0.75%	+5.10%
6 months	+11.71%	+20.31%
1 year	+27.54%	+29.19%
5 years(CAGR)	+8.65%	+11.93%
10 years(CAGR)	N/A	+10.61%
Max(CAGR)	+9.25%	+11.45%

DBMF

-1.25%

Winner

UTG

+3.61%

DBMF

+0.75%

Winner

UTG

+5.10%

DBMF

+11.71%

Winner

UTG

+20.31%

DBMF

+27.54%

Winner

UTG

+29.19%

5Y(CAGR)

DBMF

+8.65%

Winner

UTG

+11.93%

10Y(CAGR)

DBMF

N/A

UTG

+10.61%

Max(CAGR)

DBMF

+9.25%

Winner

UTG

+11.45%

DBMF vs UTG - Annual Returns (2004 - 2026)

Returns include dividend reinvestment.

Year	DBMF	UTG
2026	+10.27%	+16.31%
2025	+13.02%	+22.37%
2024	+7.00%	+26.78%
2023	-8.72%	+1.15%
2022	+20.44%	-13.56%
2021	+11.21%	+14.73%
2020	+0.47%	-5.97%
2019	+10.68%	+34.02%
2018	N/A	+2.33%
2017	N/A	+5.13%
2016	N/A	+29.83%
2015	N/A	-13.69%
2014	N/A	+40.00%
2013	N/A	+10.23%
2012	N/A	+1.80%
2011	N/A	+24.05%
2010	N/A	+25.45%
2009	N/A	+62.35%
2008	N/A	-48.44%
2007	N/A	+13.55%
2006	N/A	+32.40%
2005	N/A	+3.71%
2004	N/A	+5.34%

DBMF vs UTG Drawdown Comparison

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

The maximum drawdown for UTG was -67.57%, occurring on Mar 9, 2009. Recovery took 637 trading sessions.

The current DBMF drawdown is -1.59%. The current UTG drawdown is -2.63%.

Rank	DBMF	UTG
#1	-20.44% Oct 20, 2022 - Dec 19, 2025	-67.57% Jan 11, 2008 - Jul 23, 2010
#2	-10.43% Feb 20, 2020 - Feb 8, 2021	-47.96% Feb 12, 2020 - Sep 2, 2021
#3	-7.38% Jun 13, 2022 - Sep 21, 2022	-26.50% Apr 20, 2022 - Aug 15, 2024
#4	-6.73% Sep 4, 2019 - Jan 16, 2020	-22.57% Feb 3, 2015 - May 4, 2016
#5	-6.18% Nov 16, 2021 - Feb 11, 2022	-22.28% Aug 24, 2017 - Mar 18, 2019
#6	-6.10% Feb 27, 2026 - Jun 2, 2026	-21.31% Jul 25, 2011 - Sep 20, 2011
#7	-5.50% Jun 15, 2021 - Nov 9, 2021	-20.03% Mar 17, 2004 - Dec 22, 2004
#8	-4.75% Sep 27, 2022 - Oct 19, 2022	-15.92% Jul 3, 2012 - Mar 13, 2013
#9	-4.03% Mar 17, 2021 - Apr 19, 2021	-15.24% May 21, 2007 - Oct 31, 2007
#10	-3.89% May 6, 2022 - Jun 8, 2022	-14.94% Nov 27, 2024 - May 15, 2025
#11	-3.71% Jan 29, 2026 - Feb 9, 2026	-14.87% Sep 7, 2005 - Jul 25, 2006
#12	-3.55% Mar 8, 2022 - Mar 21, 2022	-13.51% May 17, 2013 - Feb 11, 2014
#13	-3.36% Feb 24, 2021 - Mar 11, 2021	-11.66% Jul 11, 2016 - Dec 27, 2016
#14	-2.86% May 2, 2022 - May 6, 2022	-11.57% Oct 15, 2025 - Feb 17, 2026
#15	-2.74% Mar 23, 2022 - Apr 5, 2022	-11.30% Sep 3, 2021 - Apr 20, 2022

Correlation

Correlation between DBMF and UTG is 0.68 which considered as a moderate positive correlation - the stocks show some tendency to move together.

0.68

-101

Dividend Comparison (2004 - 2026)

DBMF vs UTG dividend yield comparison.

Year	DBMF	UTG
2026	0.38%	2.38%
2025	5.91%	6.42%
2024	5.75%	7.19%
2023	2.91%	8.53%
2022	7.72%	8.07%
2021	10.38%	6.35%
2020	0.86%	6.59%
2019	9.35%	5.69%
2018	0.00%	6.86%
2017	0.00%	6.21%
2016	0.00%	9.02%
2015	0.00%	6.99%
2014	0.00%	5.18%
2013	0.00%	6.44%
2012	0.00%	6.54%
2011	0.00%	6.85%
2010	0.00%	6.52%
2009	0.00%	8.23%
2008	0.00%	14.36%
2007	0.00%	8.54%
2006	0.00%	5.78%
2005	0.00%	8.09%
2004	0.00%	5.15%