DBMF vs. GARP
DBMF (iMGP DBi Managed Futures Strategy ETF) and GARP (iShares MSCI USA Quality GARP ETF) are both exchange-traded funds - DBMF is a Systematic Trend fund actively managed by iM Global Partners, while GARP is a Large Cap Growth Equities fund tracking the MSCI USA Quality GARP Select Index. DBMF is actively managed, while GARP is passively managed. Over the past 5 years, DBMF returned 8.01%/yr vs 18.96%/yr for GARP. At a 0.15 correlation, their price movements are largely independent. DBMF charges 0.85%/yr vs 0.15%/yr for GARP.
Performance
DBMF vs. GARP - Performance Comparison
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Returns By Period
In the year-to-date period, DBMF achieves a 10.27% return, which is significantly lower than GARP's 16.96% return.
DBMF
- 1D
- 0.26%
- 1M
- -1.31%
- YTD
- 10.27%
- 6M
- 11.24%
- 1Y
- 26.94%
- 3Y*
- 9.64%
- 5Y*
- 8.01%
- 10Y*
- —
GARP
- 1D
- 0.21%
- 1M
- 3.69%
- YTD
- 16.96%
- 6M
- 17.70%
- 1Y
- 38.39%
- 3Y*
- 31.05%
- 5Y*
- 18.96%
- 10Y*
- —
DBMF vs. GARP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
DBMF iMGP DBi Managed Futures Strategy ETF | 10.27% | 13.85% | 7.24% | -8.94% | 21.61% | 11.49% | -0.28% |
GARP iShares MSCI USA Quality GARP ETF | 16.96% | 21.49% | 37.42% | 42.86% | -26.75% | 27.99% | 26.51% |
Correlation
The correlation between DBMF and GARP is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.35 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.28 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Jan 16, 2020 | 0.15 |
The correlation between DBMF and GARP shifts across timeframes, from 0.09 (5 years) to 0.35 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
DBMF vs. GARP — Risk / Return Rank
DBMF
GARP
DBMF vs. GARP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iMGP DBi Managed Futures Strategy ETF (DBMF) and iShares MSCI USA Quality GARP ETF (GARP). 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 | GARP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.29 | ||
| Sortino ratioReturn per unit of downside risk | +0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.33 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 4.50 | 2.65 | +1.85 |
| Martin ratioReturn relative to average drawdown | 16.30 | 10.37 | +5.93 |
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Drawdowns
DBMF vs. GARP - Drawdown Comparison
The maximum DBMF drawdown since its inception was -20.39%, smaller than the maximum GARP drawdown of -31.34%. Use the drawdown chart below to compare losses from any high point for DBMF and GARP.
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Drawdown Indicators
| DBMF | GARP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.39% | -31.34% | +10.95% |
Max Drawdown (1Y)Largest decline over 1 year | -6.10% | -13.69% | +7.59% |
Max Drawdown (3Y)Largest decline over 3 years | -15.60% | -23.73% | +8.13% |
Max Drawdown (5Y)Largest decline over 5 years | -20.39% | -30.61% | +10.22% |
Current DrawdownCurrent decline from peak | -1.91% | -4.27% | +2.36% |
Average DrawdownAverage peak-to-trough decline | -6.56% | -7.35% | +0.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.68% | 3.49% | -1.81% |
Volatility
DBMF vs. GARP - Volatility Comparison
The current volatility for iMGP DBi Managed Futures Strategy ETF (DBMF) is 2.71%, while iShares MSCI USA Quality GARP ETF (GARP) has a volatility of 7.61%. This indicates that DBMF experiences smaller price fluctuations and is considered to be less risky than GARP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBMF | GARP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.71% | 7.61% | -4.90% |
Volatility (6M)Calculated over the trailing 6-month period | 10.00% | 15.12% | -5.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.35% | 18.79% | -6.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.55% | 22.11% | -9.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.41% | 23.95% | -11.54% |
DBMF vs. GARP - Expense Ratio Comparison
DBMF has a 0.85% expense ratio, which is higher than GARP's 0.15% expense ratio.
Dividends
DBMF vs. GARP - Dividend Comparison
DBMF's dividend yield for the trailing twelve months is around 5.19%, more than GARP's 0.26% 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% |
GARP iShares MSCI USA Quality GARP ETF | 0.26% | 0.31% | 0.38% | 0.75% | 1.85% | 0.67% | 0.75% | 0.00% |
Frequently Asked Questions
DBMF and GARP have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GARP has higher volatility (7.61%) compared to DBMF (2.71%). In terms of maximum drawdown, DBMF dropped -20.39% vs GARP's -31.34%.
On 5-year performance, GARP leads with 18.96% vs 8.01% for DBMF. On fees, GARP is cheaper at 0.15% per year. On volatility, DBMF has been the lower-risk option at 2.71%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GARP has performed better with a 18.96% return vs 8.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GARP is cheaper with a 0.15% expense ratio, compared with 0.85% for DBMF.
DBMF has the higher dividend yield at 5.19%, compared with 0.26% for GARP.
DBMF is categorized as Systematic Trend, while GARP is Large Cap Growth Equities. They also come from different issuers: iM Global Partners and iShares. Their fees differ too: 0.85% for DBMF and 0.15% for GARP.
DBMF currently has the higher Sharpe Ratio (2.22 vs 1.93), 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.
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