BRASX vs. DBMF
BRASX (BlackRock Allocation Target Shares Series S Portfolio) and DBMF (iMGP DBi Managed Futures Strategy ETF) are both funds - BRASX is a Short-Term Bond fund managed by BlackRock, while DBMF is a Systematic Trend fund actively managed by iMGP. Over the past 5 years, BRASX returned 2.08%/yr vs 8.40%/yr for DBMF. Their -0.22 correlation means they have often moved in opposite directions in the past. BRASX charges 0.00%/yr vs 0.85%/yr for DBMF.
Performance
BRASX vs. DBMF - Performance Comparison
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Returns By Period
In the year-to-date period, BRASX achieves a 0.72% return, which is significantly lower than DBMF's 10.36% return.
BRASX
- 1D
- 0.00%
- 1M
- -0.22%
- 6M
- 0.44%
- YTD
- 0.72%
- 1Y
- 3.01%
- 3Y*
- 4.45%
- 5Y*
- 2.08%
- 10Y*
- 2.27%
- ALL TIME*
- 1.06%
DBMF
- 1D
- 0.20%
- 1M
- 1.19%
- 6M
- 4.62%
- YTD
- 10.36%
- 1Y
- 26.55%
- 3Y*
- 9.05%
- 5Y*
- 8.40%
- 10Y*
- —
- ALL TIME*
- 9.04%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $78.70M | $58.28M | $54.52M |
BRASX vs. DBMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
BRASX BlackRock Allocation Target Shares Series S Portfolio | 0.72% | 6.08% | 4.32% | 4.89% | -4.73% | -0.12% | 3.74% | 3.67% |
DBMF iMGP DBi Managed Futures Strategy ETF | 10.36% | 13.85% | 7.24% | -8.94% | 21.61% | 11.49% | 1.80% | 10.51% |
Correlation
The correlation between BRASX and DBMF is -0.06, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.06 |
Correlation (3Y) Balances recent behavior with more history. | -0.19 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.34 |
Correlation (All Time) Calculated using the full available price history since May 8, 2019 | -0.22 |
The correlation between BRASX and DBMF shifts across timeframes, from -0.34 (5 years) to -0.06 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BRASX vs. DBMF — Risk / Return Rank
BRASX
DBMF
BRASX vs. DBMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Allocation Target Shares Series S Portfolio (BRASX) and iMGP DBi Managed Futures Strategy ETF (DBMF). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BRASX | DBMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.72 | ||
| Sortino ratioReturn per unit of downside risk | -0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.43 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.16 | 4.37 | -2.21 |
| Martin ratioReturn relative to average drawdown | 8.42 | 14.73 | -6.32 |
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Drawdowns
BRASX vs. DBMF - Drawdown Comparison
The maximum BRASX drawdown since its inception was -10.61%, smaller than the maximum DBMF drawdown of -20.39%. Use the drawdown chart below to compare losses from any high point for BRASX and DBMF.
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Drawdown Indicators
| BRASX | DBMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.61% | -20.39% | +9.78% |
Max Drawdown (1Y)Largest decline over 1 year | -1.39% | -6.10% | +4.71% |
Max Drawdown (3Y)Largest decline over 3 years | -1.39% | -15.60% | +14.21% |
Max Drawdown (5Y)Largest decline over 5 years | -7.47% | -20.39% | +12.92% |
Max Drawdown (10Y)Largest decline over 10 years | -10.61% | — | — |
Current DrawdownCurrent decline from peak | -0.33% | -2.54% | +2.21% |
Average DrawdownAverage peak-to-trough decline | -1.99% | -6.47% | +4.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.36% | 1.81% | -1.45% |
Volatility
BRASX vs. DBMF - Volatility Comparison
The current volatility for BlackRock Allocation Target Shares Series S Portfolio (BRASX) is 0.41%, while iMGP DBi Managed Futures Strategy ETF (DBMF) has a volatility of 2.20%. This indicates that BRASX experiences smaller price fluctuations and is considered to be less risky than DBMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BRASX | DBMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.41% | 2.20% | -1.79% |
Volatility (6M)Calculated over the trailing 6-month period | 1.45% | 9.24% | -7.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.19% | 12.70% | -10.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.32% | 12.44% | -10.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.41% | 12.36% | -9.95% |
BRASX vs. DBMF - Expense Ratio Comparison
BRASX has a 0.00% expense ratio, which is lower than DBMF's 0.85% expense ratio.
Dividends
BRASX vs. DBMF - Dividend Comparison
BRASX's dividend yield for the trailing twelve months is around 4.19%, less than DBMF's 5.15% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
BRASX BlackRock Allocation Target Shares Series S Portfolio | 4.19% | 4.57% | 3.44% | 2.96% | 2.18% | 1.34% | 2.49% | 3.06% | 2.26% | 2.16% |
DBMF iMGP DBi Managed Futures Strategy ETF | 5.15% | 5.91% | 5.75% | 2.91% | 7.72% | 10.38% | 0.86% | 9.35% | 0.00% | 0.00% |
Frequently Asked Questions
BRASX and DBMF have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBMF has higher volatility (2.20%) compared to BRASX (0.41%). In terms of maximum drawdown, BRASX dropped -10.61% vs DBMF's -20.39%.
DBMF currently has the higher Sharpe Ratio (2.10 vs 1.38), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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