Data as of Nov 4, 2026.
DBMF vs FFUT: Correlation to the S&P 500
Over the year to Nov 4, 2026, FFUT moved less with the S&P 500 than DBMF: correlation +0.09 against +0.26.
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Net assets: $5.2bn on Nov 3, 2026 for iMGP DBi Managed Futures Strategy ETF, and $394m on Sep 30, 2026 for Fidelity Managed Futures ETF.
DBMF in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, DBMF −0.35%.
FFUT in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, FFUT −0.15%.
Pair scorecard
FFUT costs 0.05 points a year less; their one-year returns differ by 1.3 points.
| Measure | DBMF | FFUT |
|---|---|---|
| Return | ||
| Total return, 1 year | +18.5% | +17.2% |
| Against its benchmark | ||
| Treasury bills, 52 weeks | +3.7% | |
| Cost and size | ||
| Expense ratio | 0.85% | 0.80% |
| Net assets, DBMF as of Nov 3, 2026 and FFUT as of Sep 30, 2026 | $5.2bn | $394m |
| Holdings | ||
| Holdings in common | not published | |
| Risk | ||
| Beta to the S&P 500 | +0.23: about 0.23% for each 1% | +0.08: about 0.08% for each 1% |
| Its average week when the S&P 500 fell | fell 0.35% | fell 0.15% |
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
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 →
Risk and return
Jun 13, 2025 to Oct 30, 2026 · 72 weekly returnsFrom Jun 2025 to Oct 2026, DBMF returned more: +34.9% to +27.4%. DBMF swung slightly less: 8.9% to 9.3%. FFUT fell less at its worst: −4.2% to −5.3%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | DBMF | FFUT | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +34.9% | +27.4% | DBMF | Price change plus distributions, reinvested. |
| Annualized | +24.1% | +19.1% | DBMF | Total return as a yearly rate. |
| Price return | +26.3% | +24.7% | DBMF (slight) | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 8.9% | 9.3% | DBMF (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 5.2% | 5.4% | DBMF (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −5.3% | −4.2% | FFUT | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 2.04 | 1.52 | DBMF | Return above Treasury bills per unit of volatility. |
| Sortino | 3.50 | 2.61 | DBMF | Return above Treasury bills per unit of downside deviation. |
| Calmar | 4.58 | 4.54 | Tie | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 72 weekly returns. Cash rate: the 13-week Treasury bill.
Window by window
| Total return | ||
|---|---|---|
| Window | DBMF | FFUT |
| 3 months | +3.0% | +0.9% |
| 6 months | +4.4% | +3.2% |
| 1 year | +18.5% | +17.2% |
| 3 years | +31.9% | – |
| Since launchNot the same days: DBMF May 2019 · FFUT Jun 2025 | +92.9% | +22.4% |
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Side by side
As of Nov 4, 2026. Source: ETFIQ.
One strategy, two funds
DBMF and FFUT both run a managed futures strategy. Over the same 52 weeks to Nov 4, 2026, DBMF’s weekly returns had a correlation of +0.26 with the S&P 500 and FFUT’s +0.09. In the 26 weeks the index fell, by 1.07% a week on average, DBMF averaged −0.35% and FFUT −0.15%. Over the same weeks, DBMF finished 14.3 percentage points ahead of cash and FFUT finished 13.4 points ahead of cash.
Client brief:
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DBMF
DBMF 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 +0.26 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. The S&P 500 fell in 26 of those 52 weeks, by 1.07% on average. 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.
FFUT
FFUT is a managed futures fund. Over the year to Nov 4, 2026, its weekly returns had a correlation of +0.09 with the S&P 500’s and a beta of +0.08, so for each 1% the index moved it moved about 0.08% the same way. In the same weeks FFUT fell 0.15% on average, a down-week capture of 13.6%. Over the same 52 weeks FFUT returned +17.0% and a Treasury bill fund +3.7%, so it finished 13.4 percentage points ahead of cash.
Questions people ask
- Which moved less with the S&P 500, DBMF or FFUT?
- Over the 52 weeks to Nov 4, 2026, DBMF’s weekly returns had a correlation of +0.26 with the S&P 500 and FFUT’s +0.09, so FFUT moved less with the index.
- Which did better when the S&P 500 fell, DBMF or FFUT?
- In the 26 weeks the S&P 500 fell, by 1.07% a week on average, DBMF averaged −0.35% and FFUT −0.15%, so FFUT returned more in those weeks.
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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.
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ETFIQ, DBMF against FFUT, data as of Nov 4, 2026. https://etfiq.com/compare/alternatives/dbmf-vs-ffut
ETFIQ. (Nov 4, 2026). DBMF against FFUT. Retrieved from https://etfiq.com/compare/alternatives/dbmf-vs-ffut
[DBMF against FFUT (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/alternatives/dbmf-vs-ffut)
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