DBMF vs. FOXY

Last updated Jun 13, 2026

DBMF (iMGP DBi Managed Futures Strategy ETF) and FOXY (Simplify Currency Strategy ETF) are both exchange-traded funds - DBMF is a Systematic Trend fund actively managed by iM Global Partners, while FOXY is a Leveraged Currency fund actively managed by Simplify. Both are actively managed. Over the past year, DBMF returned 27.33% vs 19.85% for FOXY. At a 0.18 correlation, their price movements are largely independent. DBMF charges 0.85%/yr vs 0.81%/yr for FOXY.

Performance

DBMF vs. FOXY - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with DBMF having a 10.27% return and FOXY slightly higher at 10.75%.

DBMF

• 1D: 0.26%
• 1M: -0.96%
• YTD: 10.27%
• 6M: 11.24%
• 1Y: 27.33%
• 3Y*: 9.64%
• 5Y*: 8.01%
• 10Y*: —

FOXY

• 1D: 0.28%
• 1M: -0.06%
• YTD: 10.75%
• 6M: 6.56%
• 1Y: 19.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DBMF vs. FOXY - Yearly Performance Comparison

	2026 (YTD)	2025
DBMF iMGP DBi Managed Futures Strategy ETF	10.27%	12.30%
FOXY Simplify Currency Strategy ETF	10.75%	14.71%

Correlation

The correlation between DBMF and FOXY is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (All Time) Calculated using the full available price history since Feb 4, 2025	0.18

DBMF vs. FOXY - Sectors Allocation Comparison

Sectors	DBMF	FOXY
Technology	29.8%	-
Healthcare	12.7%	-
Financial Services	12.5%	73.1%
Consumer Cyclical	11.0%	-
Communication Services	8.6%	-
Industrials	8.4%	-
Consumer Defensive	6.1%	-
Energy	3.9%	-
Real Estate	2.5%	-
Utilities	2.3%	-
Basic Materials	2.2%	-

Return for Risk

DBMF vs. FOXY — Risk / Return Rank

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

DBMF

DBMF Risk / Return Rank: 84
DBMF Sharpe Ratio Rank: 81
DBMF Sortino Ratio Rank: 76
DBMF Omega Ratio Rank: 87
DBMF Calmar Ratio Rank: 88
DBMF Martin Ratio Rank: 87

FOXY

FOXY Risk / Return Rank: 77
FOXY Sharpe Ratio Rank: 72
FOXY Sortino Ratio Rank: 77
FOXY Omega Ratio Rank: 72
FOXY Calmar Ratio Rank: 89
FOXY Martin Ratio Rank: 76

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. FOXY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iMGP DBi Managed Futures Strategy ETF (DBMF) and Simplify Currency Strategy ETF (FOXY). 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	FOXY	Difference
Sharpe ratio: Return per unit of total volatility	2.22	2.03	+0.19
Sortino ratio: Return per unit of downside risk	2.92	2.99	-0.07
Omega ratio: Gain probability vs. loss probability	1.47	1.37	+0.10
Calmar ratio: Return relative to maximum drawdown	4.50	4.61	-0.11
Martin ratio: Return relative to average drawdown	16.30	12.65	+3.65

DBMF vs. FOXY - Sharpe Ratio Comparison

The current DBMF Sharpe Ratio is 2.22, which is comparable to the FOXY Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of DBMF and FOXY, 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. FOXY - Drawdown Comparison

The maximum DBMF drawdown since its inception was -20.39%, which is greater than FOXY's maximum drawdown of -13.09%. Use the drawdown chart below to compare losses from any high point for DBMF and FOXY.

Drawdown Indicators

	DBMF	FOXY	Difference
Max Drawdown Largest peak-to-trough decline	-20.39%	-13.09%	-7.30%
Max Drawdown (1Y) Largest decline over 1 year	-6.10%	-4.32%	-1.78%
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	-1.91%	-2.02%	+0.11%
Average Drawdown Average peak-to-trough decline	-6.56%	-2.10%	-4.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.68%	1.57%	+0.11%

Volatility

DBMF vs. FOXY - Volatility Comparison

iMGP DBi Managed Futures Strategy ETF (DBMF) and Simplify Currency Strategy ETF (FOXY) have volatilities of 2.71% and 2.59%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DBMF	FOXY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.71%	2.59%	+0.12%
Volatility (6M) Calculated over the trailing 6-month period	10.00%	7.54%	+2.46%
Volatility (1Y) Calculated over the trailing 1-year period	12.35%	9.85%	+2.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.55%	14.96%	-2.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.41%	14.96%	-2.55%

DBMF vs. FOXY - Expense Ratio Comparison

DBMF has a 0.85% expense ratio, which is higher than FOXY's 0.81% expense ratio.

Dividends

DBMF vs. FOXY - Dividend Comparison

DBMF's dividend yield for the trailing twelve months is around 5.19%, less than FOXY's 8.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
DBMF iMGP DBi Managed Futures Strategy ETF	5.19%	5.91%	5.75%	2.91%	7.72%	10.38%	0.86%	9.35%
FOXY Simplify Currency Strategy ETF	8.20%	5.51%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DBMF and FOXY in my portfolio?

DBMF and FOXY have a correlation of 0.23, 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 FOXY?

DBMF has higher volatility (2.71%) compared to FOXY (2.59%). In terms of maximum drawdown, DBMF dropped -20.39% vs FOXY's -13.09%.

Which ETF is better, DBMF or FOXY?

On 1-year performance, DBMF leads with 27.33% vs 19.85% for FOXY. On fees, FOXY is cheaper at 0.81% per year. On volatility, FOXY has been the lower-risk option at 2.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DBMF or FOXY?

Over the 1-year period, DBMF has performed better with a 27.33% return vs 19.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DBMF or FOXY?

FOXY is cheaper with a 0.81% expense ratio, compared with 0.85% for DBMF.

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

FOXY has the higher dividend yield at 8.20%, compared with 5.19% for DBMF.

What is the main difference between DBMF and FOXY?

DBMF is categorized as Systematic Trend, while FOXY is Leveraged Currency. They also come from different issuers: iM Global Partners and Simplify. Their fees differ too: 0.85% for DBMF and 0.81% for FOXY.

Which has better risk-adjusted returns?

DBMF currently has the higher Sharpe Ratio (2.22 vs 2.03), 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.