DBMF vs. BDVG

Last updated Aug 2, 2026

DBMF (iMGP DBi Managed Futures Strategy ETF) and BDVG (iMGP Berkshire Dividend Growth ETF) are both exchange-traded funds - DBMF is a Systematic Trend fund actively managed by iMGP, while BDVG is a Large Cap Value Equities fund actively managed by iMGP. Both are actively managed. Over the past 3 years, DBMF returned 9.09%/yr vs 14.40%/yr for BDVG. Their 0.17 correlation means their historical movements had little consistent relationship. DBMF charges 0.85%/yr vs 0.55%/yr for BDVG.

Performance

DBMF vs. BDVG - Performance Comparison

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

Returns By Period

In the year-to-date period, DBMF achieves a 11.19% return, which is significantly lower than BDVG's 16.58% return.

DBMF

• 1D: 0.26%
• 1M: 1.95%
• 6M: 6.88%
• YTD: 11.19%
• 1Y: 28.45%
• 3Y*: 9.09%
• 5Y*: 8.34%
• 10Y*: —
• ALL TIME*: 9.17%

BDVG

• 1D: -0.10%
• 1M: 2.70%
• 6M: 13.43%
• YTD: 16.58%
• 1Y: 24.16%
• 3Y*: 14.40%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.86%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BDVG iMGP Berkshire Dividend Growth ETF	$181.71K	$223.58K	$197.42K
DBMF iMGP DBi Managed Futures Strategy ETF	$63.53M	$54.84M	$51.08M

DBMF vs. BDVG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
DBMF iMGP DBi Managed Futures Strategy ETF	11.19%	13.85%	7.24%	-4.34%
BDVG iMGP Berkshire Dividend Growth ETF	16.58%	13.81%	11.75%	3.42%

Correlation

The correlation between DBMF and BDVG is 0.20, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.20
Correlation (3Y) Balances recent behavior with more history.	0.17
Correlation (All Time) Calculated using the full available price history since Jun 30, 2023	0.17

Return for Risk

DBMF vs. BDVG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DBMF

DBMF Risk / Return Rank: 90
DBMF Sharpe Ratio Rank: 89
DBMF Sortino Ratio Rank: 87
DBMF Omega Ratio Rank: 91
DBMF Calmar Ratio Rank: 93
DBMF Martin Ratio Rank: 92

BDVG

BDVG Risk / Return Rank: 90
BDVG Sharpe Ratio Rank: 91
BDVG Sortino Ratio Rank: 93
BDVG Omega Ratio Rank: 90
BDVG Calmar Ratio Rank: 88
BDVG Martin Ratio Rank: 88

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DBMF vs. BDVG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iMGP DBi Managed Futures Strategy ETF (DBMF) and iMGP Berkshire Dividend Growth ETF (BDVG). 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	BDVG	Difference
Sharpe ratio: Return per unit of total volatility	2.18	2.33	-0.15
Sortino ratio: Return per unit of downside risk	2.87	3.45	-0.58
Omega ratio: Gain probability vs. loss probability	1.44	1.43	+0.01
Calmar ratio: Return relative to maximum drawdown	4.54	3.51	+1.02
Martin ratio: Return relative to average drawdown	15.42	13.43	+1.99

DBMF vs. BDVG - Sharpe Ratio Comparison

The current DBMF Sharpe Ratio is 2.18, which is comparable to the BDVG Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of DBMF and BDVG, 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. BDVG - Drawdown Comparison

The maximum DBMF drawdown since its inception was -20.39%, which is greater than BDVG's maximum drawdown of -14.46%. Use the drawdown chart below to compare losses from any high point for DBMF and BDVG.

Drawdown Indicators

	DBMF	BDVG	Difference
Max Drawdown Largest peak-to-trough decline	-20.39%	-14.46%	-5.93%
Max Drawdown (1Y) Largest decline over 1 year	-6.10%	-6.70%	+0.60%
Max Drawdown (3Y) Largest decline over 3 years	-15.60%	-14.46%	-1.14%
Max Drawdown (5Y) Largest decline over 5 years	-20.39%	—	—
Current Drawdown Current decline from peak	-1.81%	-1.37%	-0.44%
Average Drawdown Average peak-to-trough decline	-6.48%	-2.26%	-4.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.79%	1.75%	+0.04%

Volatility

DBMF vs. BDVG - Volatility Comparison

The current volatility for iMGP DBi Managed Futures Strategy ETF (DBMF) is 2.31%, while iMGP Berkshire Dividend Growth ETF (BDVG) has a volatility of 2.97%. This indicates that DBMF experiences smaller price fluctuations and is considered to be less risky than BDVG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DBMF	BDVG	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.31%	2.97%	-0.66%
Volatility (6M) Calculated over the trailing 6-month period	9.81%	7.94%	+1.87%
Volatility (1Y) Calculated over the trailing 1-year period	12.68%	10.11%	+2.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.44%	11.87%	+0.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.36%	11.87%	+0.49%

DBMF vs. BDVG - Expense Ratio Comparison

DBMF has a 0.85% expense ratio, which is higher than BDVG's 0.55% expense ratio.

Dividends

DBMF vs. BDVG - Dividend Comparison

DBMF's dividend yield for the trailing twelve months is around 5.11%, more than BDVG's 1.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BDVG iMGP Berkshire Dividend Growth ETF	1.43%	1.75%	1.69%	0.95%	0.00%	0.00%	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 BDVG in my portfolio?

DBMF and BDVG have a correlation of 0.20, 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 BDVG?

BDVG has higher volatility (2.97%) compared to DBMF (2.31%). In terms of maximum drawdown, DBMF dropped -20.39% vs BDVG's -14.46%.

Which ETF is better, DBMF or BDVG?

On 3-year performance, BDVG leads with 14.40% vs 9.09% for DBMF. On fees, BDVG is cheaper at 0.55% per year. On volatility, DBMF 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 BDVG?

Over the 3-year period, BDVG has performed better with a 14.40% return vs 9.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DBMF or BDVG?

BDVG is cheaper with a 0.55% expense ratio, compared with 0.85% for DBMF.

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

DBMF has the higher dividend yield at 5.11%, compared with 1.43% for BDVG.

What is the main difference between DBMF and BDVG?

DBMF is categorized as Systematic Trend, while BDVG is Large Cap Value Equities. Their fees differ too: 0.85% for DBMF and 0.55% for BDVG.

Which has better risk-adjusted returns?

BDVG currently has the higher Sharpe Ratio (2.33 vs 2.18), 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.