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Data as of Nov 4, 2026.

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Alternative ETFs

ASMF vs DBMF: Correlation to the S&P 500

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Over the year to Nov 4, 2026, DBMF moved less with the S&P 500 than ASMF: correlation +0.26 against +0.40.

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Net assets: $30m on Jul 31, 2026 for Virtus AlphaSimplex Managed Futures ETF, and $5.2bn on Nov 3, 2026 for iMGP DBi Managed Futures Strategy ETF.

ASMF on its own →DBMF on its own →
At a glance
+0.40
ASMF correlation with the S&P 500
+0.26
DBMF correlation with the S&P 500
45.9%
ASMF down-week capture
32.9%
DBMF down-week capture
ASMF Fell 46% as much as the S&P 500
Fell 46% as much as the S&P 500ASMF in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, ASMF −0.49%.SPY−1.07%ASMF−0.49%Average week when SPY fell: 26 of 52, year to Nov 4, 2026Fell 46% as much as the S&P 500ASMF in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, ASMF −0.49%.SPY−1.07%ASMF−0.49%Average week when SPY fell

ASMF in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, ASMF −0.49%.

DBMF Fell 33% as much as the S&P 500
Fell 33% as much as the S&P 500DBMF in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, DBMF −0.35%.SPY−1.07%DBMF−0.35%Average week when SPY fell: 26 of 52, year to Nov 4, 2026Fell 33% as much as the S&P 500DBMF in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, DBMF −0.35%.SPY−1.07%DBMF−0.35%Average week when SPY fell

DBMF in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, DBMF −0.35%.

Pair scorecard

ASMF costs 0.05 points a year less; their one-year returns differ by 5.3 points.

ASMF vs DBMF: Correlation to the S&P 500
MeasureASMFDBMF
Return
Total return, 1 year+13.2%+18.5%
Against its benchmark
Treasury bills, 52 weeks+3.7%
Cost and size
Expense ratio0.80%0.85%
Net assets, ASMF as of Jul 31, 2026 and DBMF as of Nov 3, 2026$30m$5.2bn
Holdings
Holdings in commonnot published
Risk
Beta to the S&P 500+0.32: about 0.32% for each 1%+0.23: about 0.23% for each 1%
Its average week when the S&P 500 fellfell 0.49%fell 0.35%
ETFIQ Stock Diversification Score · DBMF scores higher How much does it diversify a stock portfolio?
IQ Alternatives Score53ASMF67.6DBMF

How much it diversifies a stock portfolio, ranked against 17 systematic trend alternatives ETFs with a full year. 100 is best. How it is computed

2.9, the lowest in this set 94.2, the highest

One year of weekly moves against the S&P 500, within one strategy; it ignores what the fund returned. All alternatives ETFs ranked by it →

Method

Window by window

Window by window: ASMF vs DBMF: Correlation to the S&P 500
Total return
WindowASMFDBMF
3 months+2.5%+3.0%
6 months+1.1%+4.4%
1 year+13.2%+18.5%
3 years–+31.9%
Since launchNot the same days: ASMF May 2024 · DBMF May 2019+6.6%+92.9%

– means no data for this window. Open this comparison in the app →

Side by side

ASMF Virtus AlphaSimplex Managed Futures ETF · Managed futures fund: follows price trends in futures on stocks, bonds, currencies and commodities, and can bet on falls as well as rises DBMF iMGP DBi Managed Futures Strategy ETF · Managed futures fund: follows price trends in futures on stocks, bonds, currencies and commodities, and can bet on falls as well as rises
Issuer Virtus iMGP
Strategy Managed futures Managed futures
Correlation with the S&P 500 +0.40 +0.26
Beta to the S&P 500 +0.32 +0.23
Down-week capture 45.9% 32.9%
Average week when the S&P 500 fell −0.49% −0.35%
The S&P 500 in those weeks −1.07% −1.07%
Total return, same 52 weeks +12.9% +17.9%
Against T-bills, percentage points +9.2 pts +14.3 pts
Expense ratio 0.80% 0.85%
First traded May 16, 2024 May 8, 2019
Net assets, ASMF as of Jul 31, 2026 and DBMF as of Nov 3, 2026 $30m $5.2bn

As of Nov 4, 2026. Source: ETFIQ.

One strategy, two funds

ASMF and DBMF both run a managed futures strategy. Over the same 52 weeks to Nov 4, 2026, ASMF’s weekly returns had a correlation of +0.40 with the S&P 500 and DBMF’s +0.26. In the 26 weeks the index fell, by 1.07% a week on average, ASMF averaged −0.49% and DBMF −0.35%. Over the same weeks, ASMF finished 9.2 percentage points ahead of cash and DBMF finished 14.3 points ahead of cash.

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About each fund
ASMF

ASMF is a managed futures fund. ETFIQ measures what every alternatives fund is sold on: whether it moves differently from the stock market. Over the year to Nov 4, 2026, its weekly returns had a correlation of +0.40 with the S&P 500’s and a beta of +0.32, so for each 1% the index moved it moved about 0.32% the same way. The S&P 500 fell in 26 of those 52 weeks, by 1.07% on average. In the same weeks ASMF fell 0.49% on average, a down-week capture of 45.9%. Over the same 52 weeks ASMF returned +12.9% and a Treasury bill fund +3.7%, so it finished 9.2 percentage points ahead of cash.

DBMF

DBMF is a managed futures fund. Over the year to Nov 4, 2026, its weekly returns had a correlation of +0.26 with the S&P 500’s and a beta of +0.23, so for each 1% the index moved it moved about 0.23% the same way. In the same weeks DBMF fell 0.35% on average, a down-week capture of 32.9%. Over the same 52 weeks DBMF returned +17.9% and a Treasury bill fund +3.7%, so it finished 14.3 percentage points ahead of cash.

Questions people ask

Which moved less with the S&P 500, ASMF or DBMF?
Over the 52 weeks to Nov 4, 2026, ASMF’s weekly returns had a correlation of +0.40 with the S&P 500 and DBMF’s +0.26, so DBMF moved less with the index.
Which did better when the S&P 500 fell, ASMF or DBMF?
In the 26 weeks the S&P 500 fell, by 1.07% a week on average, ASMF averaged −0.49% and DBMF −0.35%, so DBMF returned more in those weeks.
Which earned more than cash, ASMF or DBMF?
Over the same weeks, ASMF finished 9.2 percentage points ahead of cash and DBMF finished 14.3 percentage points ahead of cash. Cash here is BIL, a fund of Treasury bills.
Which is cheaper, ASMF or DBMF?
ASMF charges 0.80% a year and DBMF charges 0.85%, so ASMF is cheaper. Fees come from each fund's prospectus.
Other comparisons
ASMF vs CTAASMF vs FMFASMF vs RSBTASMF vs MFUTDBMF vs HFMFDBMF vs PRAEDBMF vs HOLDDBMF vs KMLM
Where to next
BIL, the T-bill fund these are measured against →SPY, the S&P 500 fund these are measured against →ASMF on its own →DBMF on its own →ASMF dividend history →DBMF dividend history →Method →Standards and sources →
Sources and dates
ASMF filings on SEC EDGAR ↗
ASMF prospectus with the expense ratio (SEC) ↗
Virtus website ↗
DBMF filings on SEC EDGAR ↗
DBMF prospectus with the expense ratio (SEC) ↗
iMGP website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

It is a place in a set, not a rating or a recommendation.

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, ASMF against DBMF, data as of Nov 4, 2026. https://etfiq.com/compare/alternatives/asmf-vs-dbmf

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