iMGP DBi Managed Futures Strategy ETF (DBMF) Performance
DBMF total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +18.2% since Dec 31, 2025
- 1 year
- +21.8% total return
- 5 years
- +9.7% a year
- Since first price
- +9.8% a year since 2019
DBMF trailing returns vs SPY, QQQ, AGG
| Period | DBMF total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +1.3% | +0.8% | −1.0% | −5.0% | +0.9% |
| 3 months | +4.4% | +3.9% | +3.2% | +1.9% | −0.4% |
| 6 months | +8.4% | +7.4% | +7.8% | +8.4% | −1.5% |
| YTD | +18.2% | +16.6% | +12.3% | +15.1% | −1.0% |
| 1 year | +21.8% | +15.3% | +14.4% | +15.9% | −1.1% |
| 3 years | +33.2%+10.0%/yr | +14.0% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +58.8%+9.7%/yr | +14.1% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionMay 8, 2019 | +100.8%+9.8%/yr | +30.9% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: DBMF vs SPY
From May 8, 2019: DBMF grew to $20,077, SPY to $29,489.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
DBMF returns by calendar year
5 of 6 full years positive. Best 2022 (+21.6%), worst 2023 (−8.9%). 2026 is year to date.
DBMF annual returns table
| Year | DBMF | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +18.2% | −6.1% | +12.3% | +15.1% | −1.0% |
| 2025 | +13.8% | −7.7% | +17.7% | +20.8% | +7.2% |
| 2024 | +7.2% | −12.3% | +24.9% | +25.6% | +1.3% |
| 2023 | −8.9% | −11.5% | +26.2% | +54.9% | +5.7% |
| 2022 | +21.6% | −11.8% | −18.2% | −32.6% | −13.0% |
| 2021 | +11.5% | −6.2% | +28.7% | +27.4% | −1.8% |
| 2020 | +1.8% | −10.4% | +18.3% | +48.6% | +7.5% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
DBMF largest drawdowns
Now 1.7% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Oct 20, 2022 | −20.4% | Mar 24, 2023 | Dec 19, 2025 | 5 months | 3.2 years |
| Feb 20, 2020 | −10.4% | Mar 18, 2020 | Feb 8, 2021 | 27 days | 12 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
DBMF risk statistics
| Statistic | 3 years | 5 years | Since 2019 |
|---|---|---|---|
| Annualized return | +9.6% | +10.2% | +9.7% |
| Volatility (annualized) | 10.5% | 12.2% | 11.2% |
| Sharpe ratio | 0.51 | 0.55 | 0.64 |
| Sortino ratio | 0.82 | 0.88 | 1.06 |
| Best month | +7.8% | +10.6% | +10.6% |
| Worst month | −5.2% | −8.8% | −8.8% |
| Best 12 months | +30.1% | +34.3% | +34.3% |
| Worst 12 months | −10.7% | −10.7% | −10.7% |
| Positive months | 58% | 63% | 61% |
| Beta vs S&P 500 | 0.05 | -0.21 | — |
| Correlation with S&P 500 | 0.05 | -0.27 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
DBMF rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 78 | −10.7% | +10.2% | +34.3% | 69% |
| 3-year (a year) | 54 | −2.0% | +8.7% | +15.4% | 87% |
| 5-year (a year) | 30 | +5.1% | +8.2% | +10.2% | 100% |
Every holding period starting at a month-end since 2019. Returns for 3 years and longer are annualized.
DBMF performance overview
iMGP DBi Managed Futures Strategy ETF (DBMF) returned +21.8% over the past year and +9.7% a year over five years, with distributions reinvested. Since its first recorded price in 2019 it has returned +9.8% a year, turning $10,000 into about $20,077. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −20.4%, from Oct 20, 2022 to Mar 24, 2023, and it took 2.7 years to get back to the old high. DBMF finished 5 of its 6 full calendar years with a gain; the best year was 2022 (+21.6%) and the worst 2023 (−8.9%). Volatility has been 11.2% a year.
Related: DBMF chart, DBMF dividends. See the DBMF overview for the latest quote and fund facts.
DBMF performance FAQ
What is the DBMF return over the past year?
DBMF returned +21.8% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 15.3%.
What is the average annual return of DBMF?
DBMF has returned +9.7% a year over 5 years, +9.8% a year since May 8, 2019 (total return, distributions reinvested).
How much would $10,000 invested in DBMF be worth?
$10,000 invested in DBMF at its first recorded close on May 8, 2019 would be worth about $20,077 on October 23, 2026 with distributions reinvested.
What was the worst year for DBMF?
The worst calendar year was 2023, with a total return of −8.9%. The best was 2022 at +21.6%.
What is the biggest drawdown of DBMF?
The largest peak-to-trough decline was −20.4% between October 20, 2022 and March 24, 2023. It recovered to the old high on December 19, 2025, 2.7 years after the bottom.
How volatile is DBMF?
Over the past 3 years DBMF had an annualized volatility of 10.5% and a Sharpe ratio of 0.51 (excess return over 1–3 month T-bills per unit of risk).