DBMF vs. AHLT

Last updated Jul 14, 2026

DBMF (iMGP DBi Managed Futures Strategy ETF) and AHLT (American Beacon AHL Trend ETF) are both Systematic Trend funds. Both are actively managed. Over the past year, DBMF returned 27.14% vs 28.82% for AHLT. A 0.75 correlation means they provide meaningful diversification when combined. DBMF charges 0.85%/yr vs 0.95%/yr for AHLT.

Performance

DBMF vs. AHLT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iMGP DBi Managed Futures Strategy ETF (DBMF) and American Beacon AHL Trend ETF (AHLT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DBMF achieves a 11.44% return, which is significantly higher than AHLT's 10.08% return.

DBMF

• 1D: 0.62%
• 1M: 1.06%
• 6M: 8.39%
• YTD: 11.44%
• 1Y: 27.14%
• 3Y*: 9.77%
• 5Y*: 8.44%
• 10Y*: —

AHLT

• 1D: 0.75%
• 1M: 0.46%
• 6M: 2.98%
• YTD: 10.08%
• 1Y: 28.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

DBMF vs. AHLT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DBMF iMGP DBi Managed Futures Strategy ETF	11.44%	13.85%	7.24%	-4.44%
AHLT American Beacon AHL Trend ETF	10.08%	13.73%	6.08%	-8.42%

Correlation

The correlation between DBMF and AHLT is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (All Time) Calculated using the full available price history since Aug 31, 2023	0.75

The correlation between DBMF and AHLT has been stable across timeframes, ranging from 0.75 to 0.81 - a consistent structural relationship.

Return for Risk

DBMF vs. AHLT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DBMF

DBMF Risk / Return Rank: 87
DBMF Sharpe Ratio Rank: 85
DBMF Sortino Ratio Rank: 81
DBMF Omega Ratio Rank: 89
DBMF Calmar Ratio Rank: 91
DBMF Martin Ratio Rank: 88

AHLT

AHLT Risk / Return Rank: 65
AHLT Sharpe Ratio Rank: 63
AHLT Sortino Ratio Rank: 56
AHLT Omega Ratio Rank: 62
AHLT Calmar Ratio Rank: 82
AHLT Martin Ratio Rank: 63

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DBMF vs. AHLT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iMGP DBi Managed Futures Strategy ETF (DBMF) and American Beacon AHL Trend ETF (AHLT). 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.

	DBMF	AHLT	Difference
Sharpe ratio: Return per unit of total volatility	2.16	1.65	+0.51
Sortino ratio: Return per unit of downside risk	2.84	2.15	+0.69
Omega ratio: Gain probability vs. loss probability	1.44	1.30	+0.14
Calmar ratio: Return relative to maximum drawdown	4.47	3.51	+0.96
Martin ratio: Return relative to average drawdown	15.17	8.93	+6.25

DBMF vs. AHLT - Sharpe Ratio Comparison

The current DBMF Sharpe Ratio is 2.16, which is higher than the AHLT Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of DBMF and AHLT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DBMF vs. AHLT - Drawdown Comparison

The maximum DBMF drawdown since its inception was -20.39%, roughly equal to the maximum AHLT drawdown of -20.18%. Use the drawdown chart below to compare losses from any high point for DBMF and AHLT.

Drawdown Indicators

	DBMF	AHLT	Difference
Max Drawdown Largest peak-to-trough decline	-20.39%	-20.18%	-0.21%
Max Drawdown (1Y) Largest decline over 1 year	-6.10%	-8.26%	+2.16%
Max Drawdown (3Y) Largest decline over 3 years	-15.60%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-20.39%	—	—
Current Drawdown Current decline from peak	-0.87%	-2.87%	+2.00%
Average Drawdown Average peak-to-trough decline	-6.52%	-9.16%	+2.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.79%	3.24%	-1.45%

Volatility

DBMF vs. AHLT - Volatility Comparison

The current volatility for iMGP DBi Managed Futures Strategy ETF (DBMF) is 2.82%, while American Beacon AHL Trend ETF (AHLT) has a volatility of 4.01%. This indicates that DBMF experiences smaller price fluctuations and is considered to be less risky than AHLT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DBMF	AHLT	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.82%	4.01%	-1.19%
Volatility (6M) Calculated over the trailing 6-month period	10.14%	11.63%	-1.49%
Volatility (1Y) Calculated over the trailing 1-year period	12.64%	17.61%	-4.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.52%	17.31%	-4.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.39%	17.31%	-4.92%

DBMF vs. AHLT - Expense Ratio Comparison

DBMF has a 0.85% expense ratio, which is lower than AHLT's 0.95% expense ratio.

Dividends

DBMF vs. AHLT - Dividend Comparison

DBMF's dividend yield for the trailing twelve months is around 5.10%, more than AHLT's 1.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
AHLT American Beacon AHL Trend ETF	1.54%	1.70%	0.00%	3.72%	0.00%	0.00%	0.00%	0.00%
DBMF iMGP DBi Managed Futures Strategy ETF	5.10%	5.91%	5.75%	2.91%	7.72%	10.38%	0.86%	9.35%

Frequently Asked Questions

Can I hold both DBMF and AHLT in my portfolio?

DBMF and AHLT have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DBMF or AHLT?

AHLT has higher volatility (4.01%) compared to DBMF (2.82%). In terms of maximum drawdown, DBMF dropped -20.39% vs AHLT's -20.18%.

Which ETF is better, DBMF or AHLT?

On 1-year performance, AHLT leads with 28.82% vs 27.14% for DBMF. On fees, DBMF is cheaper at 0.85% per year. On volatility, DBMF has been the lower-risk option at 2.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DBMF or AHLT?

Over the 1-year period, AHLT has performed better with a 28.82% return vs 27.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DBMF or AHLT?

DBMF is cheaper with a 0.85% expense ratio, compared with 0.95% for AHLT.

Which ETF pays a higher dividend yield, DBMF or AHLT?

DBMF has the higher dividend yield at 5.10%, compared with 1.54% for AHLT.

What is the main difference between DBMF and AHLT?

They also come from different issuers: iM Global Partners and American Beacon. Their fees differ too: 0.85% for DBMF and 0.95% for AHLT.

Which has better risk-adjusted returns?

DBMF currently has the higher Sharpe Ratio (2.16 vs 1.65), 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.