CBE3.L vs. DBMFE.PA
CBE3.L (iShares € Govt Bond 1-3yr UCITS ETF EUR (Acc)) and DBMFE.PA (iMGP DBi Managed Futures Fund R EUR UCITS ETF Acc) are both exchange-traded funds - CBE3.L is a Short-Term Bond fund tracking the Bloomberg Euro Government Bond 1-3 Year Index, while DBMFE.PA is a Hedge Fund fund actively managed by iM Global Partner. CBE3.L is passively managed, while DBMFE.PA is actively managed. Over the past year, CBE3.L returned 0.83% vs 27.90% for DBMFE.PA. At a correlation of -0.13, they often move in opposite directions. CBE3.L charges 0.20%/yr vs 0.75%/yr for DBMFE.PA.
Performance
CBE3.L vs. DBMFE.PA - Performance Comparison
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Returns By Period
In the year-to-date period, CBE3.L achieves a 0.09% return, which is significantly lower than DBMFE.PA's 12.72% return.
CBE3.L
- 1D
- -0.09%
- 1M
- 0.29%
- YTD
- 0.09%
- 6M
- 0.19%
- 1Y
- 0.83%
- 3Y*
- 2.64%
- 5Y*
- 0.80%
- 10Y*
- 0.36%
DBMFE.PA
- 1D
- -0.50%
- 1M
- 2.39%
- YTD
- 12.72%
- 6M
- 13.91%
- 1Y
- 27.90%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CBE3.L vs. DBMFE.PA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CBE3.L iShares € Govt Bond 1-3yr UCITS ETF EUR (Acc) | 0.09% | 1.53% |
DBMFE.PA iMGP DBi Managed Futures Fund R EUR UCITS ETF Acc | 12.72% | 8.56% |
Correlation
The correlation between CBE3.L and DBMFE.PA is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.11 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2025 | -0.13 |
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Return for Risk
CBE3.L vs. DBMFE.PA — Risk / Return Rank
CBE3.L
DBMFE.PA
CBE3.L vs. DBMFE.PA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares € Govt Bond 1-3yr UCITS ETF EUR (Acc) (CBE3.L) and iMGP DBi Managed Futures Fund R EUR UCITS ETF Acc (DBMFE.PA). 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.
| CBE3.L | DBMFE.PA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.83 | ||
| Sortino ratioReturn per unit of downside risk | -0.99 | ||
| Omega ratioGain probability vs. loss probability | 1.14 | 1.28 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 0.75 | 3.93 | -3.17 |
| Martin ratioReturn relative to average drawdown | 2.49 | 8.01 | -5.53 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CBE3.L | DBMFE.PA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.70 | 1.53 | -0.83 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 1.06 | -0.62 |
Drawdowns
CBE3.L vs. DBMFE.PA - Drawdown Comparison
The maximum CBE3.L drawdown since its inception was -6.12%, smaller than the maximum DBMFE.PA drawdown of -7.01%. Use the drawdown chart below to compare losses from any high point for CBE3.L and DBMFE.PA.
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Drawdown Indicators
| CBE3.L | DBMFE.PA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.12% | -7.01% | +0.89% |
Max Drawdown (1Y)Largest decline over 1 year | -1.10% | -7.01% | +5.91% |
Max Drawdown (3Y)Largest decline over 3 years | -1.10% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -5.19% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -6.12% | — | — |
Current DrawdownCurrent decline from peak | -0.46% | -1.37% | +0.91% |
Average DrawdownAverage peak-to-trough decline | -1.06% | -3.01% | +1.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.33% | 3.46% | -3.13% |
Volatility
CBE3.L vs. DBMFE.PA - Volatility Comparison
The current volatility for iShares € Govt Bond 1-3yr UCITS ETF EUR (Acc) (CBE3.L) is 0.42%, while iMGP DBi Managed Futures Fund R EUR UCITS ETF Acc (DBMFE.PA) has a volatility of 3.80%. This indicates that CBE3.L experiences smaller price fluctuations and is considered to be less risky than DBMFE.PA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CBE3.L | DBMFE.PA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.42% | 3.80% | -3.38% |
Volatility (6M)Calculated over the trailing 6-month period | 1.08% | 11.43% | -10.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.19% | 18.05% | -16.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.51% | 17.73% | -16.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.28% | 17.73% | -16.45% |
CBE3.L vs. DBMFE.PA - Expense Ratio Comparison
CBE3.L has a 0.20% expense ratio, which is lower than DBMFE.PA's 0.75% expense ratio.
Dividends
CBE3.L vs. DBMFE.PA - Dividend Comparison
Neither CBE3.L nor DBMFE.PA has paid dividends to shareholders.
Frequently Asked Questions
CBE3.L and DBMFE.PA have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CBE3.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CBE3.L is cheaper with a 0.20% expense ratio, compared with 0.75% for DBMFE.PA.
CBE3.L is categorized as Short-Term Bond, while DBMFE.PA is Hedge Fund. They also come from different issuers: iShares and iM Global Partner. Their fees differ too: 0.20% for CBE3.L and 0.75% for DBMFE.PA.
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