DBMF vs. AVLV

Last updated Jul 21, 2026

DBMF (iMGP DBi Managed Futures Strategy ETF) and AVLV (Avantis U.S. Large Cap Value ETF) are both exchange-traded funds - DBMF is a Systematic Trend fund actively managed by iM Global Partners, while AVLV is a Large Cap Value Equities fund actively managed by Avantis. Both are actively managed. Over the past 3 years, DBMF returned 9.43%/yr vs 20.50%/yr for AVLV. At a 0.11 correlation, their price movements are largely independent. DBMF charges 0.85%/yr vs 0.15%/yr for AVLV.

Performance

DBMF vs. AVLV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iMGP DBi Managed Futures Strategy ETF (DBMF) and Avantis U.S. Large Cap Value ETF (AVLV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DBMF achieves a 11.26% return, which is significantly lower than AVLV's 21.22% return.

DBMF

• 1D: 0.23%
• 1M: 0.57%
• 6M: 8.74%
• YTD: 11.26%
• 1Y: 26.79%
• 3Y*: 9.43%
• 5Y*: 8.59%
• 10Y*: —
• ALL TIME*: 9.22%

AVLV

• 1D: -0.38%
• 1M: 0.38%
• 6M: 15.69%
• YTD: 21.22%
• 1Y: 33.92%
• 3Y*: 20.50%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.64%

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

DBMF vs. AVLV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DBMF iMGP DBi Managed Futures Strategy ETF	11.26%	13.85%	7.24%	-8.94%	21.61%	1.94%
AVLV Avantis U.S. Large Cap Value ETF	21.22%	15.12%	17.49%	17.43%	-5.53%	6.27%

Correlation

The correlation between DBMF and AVLV is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (All Time) Calculated using the full available price history since Sep 23, 2021	0.11

Over the past year, DBMF and AVLV have become more correlated (0.37) than their long-term average of 0.11, meaning their price movements have been converging.

Return for Risk

DBMF vs. AVLV — Risk / Return Rank

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

DBMF

DBMF Risk / Return Rank: 88
DBMF Sharpe Ratio Rank: 86
DBMF Sortino Ratio Rank: 82
DBMF Omega Ratio Rank: 90
DBMF Calmar Ratio Rank: 92
DBMF Martin Ratio Rank: 90

AVLV

AVLV Risk / Return Rank: 94
AVLV Sharpe Ratio Rank: 94
AVLV Sortino Ratio Rank: 94
AVLV Omega Ratio Rank: 93
AVLV Calmar Ratio Rank: 94
AVLV Martin Ratio Rank: 95

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. AVLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iMGP DBi Managed Futures Strategy ETF (DBMF) and Avantis U.S. Large Cap Value ETF (AVLV). 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	AVLV	Difference
Sharpe ratio: Return per unit of total volatility	2.13	2.75	-0.62
Sortino ratio: Return per unit of downside risk	2.81	3.85	-1.04
Omega ratio: Gain probability vs. loss probability	1.44	1.50	-0.06
Calmar ratio: Return relative to maximum drawdown	4.41	5.33	-0.92
Martin ratio: Return relative to average drawdown	14.93	21.13	-6.21

DBMF vs. AVLV - Sharpe Ratio Comparison

The current DBMF Sharpe Ratio is 2.13, which is comparable to the AVLV Sharpe Ratio of 2.75. The chart below compares the historical Sharpe Ratios of DBMF and AVLV, 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. AVLV - Drawdown Comparison

The maximum DBMF drawdown since its inception was -20.39%, roughly equal to the maximum AVLV drawdown of -19.50%. Use the drawdown chart below to compare losses from any high point for DBMF and AVLV.

Drawdown Indicators

	DBMF	AVLV	Difference
Max Drawdown Largest peak-to-trough decline	-20.39%	-19.50%	-0.89%
Max Drawdown (1Y) Largest decline over 1 year	-6.10%	-6.39%	+0.29%
Max Drawdown (3Y) Largest decline over 3 years	-15.60%	-19.50%	+3.90%
Max Drawdown (5Y) Largest decline over 5 years	-20.39%	—	—
Current Drawdown Current decline from peak	-1.03%	-0.77%	-0.26%
Average Drawdown Average peak-to-trough decline	-6.50%	-3.85%	-2.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.80%	1.61%	+0.19%

Volatility

DBMF vs. AVLV - Volatility Comparison

iMGP DBi Managed Futures Strategy ETF (DBMF) has a higher volatility of 2.69% compared to Avantis U.S. Large Cap Value ETF (AVLV) at 2.31%. This indicates that DBMF's price experiences larger fluctuations and is considered to be riskier than AVLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DBMF	AVLV	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.69%	2.31%	+0.38%
Volatility (6M) Calculated over the trailing 6-month period	10.05%	9.10%	+0.95%
Volatility (1Y) Calculated over the trailing 1-year period	12.63%	12.41%	+0.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.45%	17.22%	-4.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.37%	17.22%	-4.85%

DBMF vs. AVLV - Expense Ratio Comparison

DBMF has a 0.85% expense ratio, which is higher than AVLV's 0.15% expense ratio.

Dividends

DBMF vs. AVLV - Dividend Comparison

DBMF's dividend yield for the trailing twelve months is around 5.11%, more than AVLV's 1.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
AVLV Avantis U.S. Large Cap Value ETF	1.07%	1.33%	1.58%	1.85%	2.00%	0.29%	0.00%	0.00%
DBMF iMGP DBi Managed Futures Strategy ETF	5.11%	5.91%	5.75%	2.91%	7.72%	10.38%	0.86%	9.35%

Frequently Asked Questions

Can I hold both DBMF and AVLV in my portfolio?

DBMF and AVLV have a correlation of 0.37, 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 AVLV?

DBMF has higher volatility (2.69%) compared to AVLV (2.31%). In terms of maximum drawdown, DBMF dropped -20.39% vs AVLV's -19.50%.

Which ETF is better, DBMF or AVLV?

On 3-year performance, AVLV leads with 20.50% vs 9.43% for DBMF. On fees, AVLV is cheaper at 0.15% per year. On volatility, AVLV has been the lower-risk option at 2.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DBMF or AVLV?

Over the 3-year period, AVLV has performed better with a 20.50% return vs 9.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DBMF or AVLV?

AVLV is cheaper with a 0.15% expense ratio, compared with 0.85% for DBMF.

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

DBMF has the higher dividend yield at 5.11%, compared with 1.07% for AVLV.

What is the main difference between DBMF and AVLV?

DBMF is categorized as Systematic Trend, while AVLV is Large Cap Value Equities. They also come from different issuers: iM Global Partners and Avantis. Their fees differ too: 0.85% for DBMF and 0.15% for AVLV.

Which has better risk-adjusted returns?

AVLV currently has the higher Sharpe Ratio (2.75 vs 2.13), 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.