DBMF vs. PFIX
DBMF (iMGP DBi Managed Futures Strategy ETF) and PFIX (Simplify Interest Rate Hedge ETF) are both exchange-traded funds - DBMF is a Systematic Trend fund actively managed by iMGP, while PFIX is a Inverse Bonds fund actively managed by Simplify. Both are actively managed. Over the past 5 years, DBMF returned 8.34%/yr vs 23.20%/yr for PFIX. Their 0.25 correlation means their historical movements had little consistent relationship. DBMF charges 0.85%/yr vs 0.50%/yr for PFIX.
Performance
DBMF vs. PFIX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with DBMF having a 11.19% return and PFIX slightly lower at 10.66%.
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%
PFIX
- 1D
- 3.06%
- 1M
- 17.72%
- 6M
- 11.49%
- YTD
- 10.66%
- 1Y
- 7.25%
- 3Y*
- 17.57%
- 5Y*
- 23.20%
- 10Y*
- —
- ALL TIME*
- 17.29%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $63.53M | $54.84M | $51.08M | |
| $6.29M | $5.62M | $16.95M |
DBMF vs. PFIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
DBMF iMGP DBi Managed Futures Strategy ETF | 11.19% | 13.85% | 7.24% | -8.94% | 21.61% | -0.12% |
PFIX Simplify Interest Rate Hedge ETF | 10.66% | 0.42% | 35.94% | 5.67% | 92.05% | -24.98% |
Correlation
The correlation between DBMF and PFIX is -0.02, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.02 |
Correlation (3Y) Balances recent behavior with more history. | 0.19 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.26 |
Correlation (All Time) Calculated using the full available price history since May 11, 2021 | 0.25 |
The correlation between DBMF and PFIX shifts across timeframes, from -0.02 (1 year) to 0.26 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
DBMF vs. PFIX — Risk / Return Rank
DBMF
PFIX
DBMF vs. PFIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iMGP DBi Managed Futures Strategy ETF (DBMF) and Simplify Interest Rate Hedge ETF (PFIX). 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 | PFIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.10 | ||
| Sortino ratioReturn per unit of downside risk | +2.53 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.04 | +0.40 |
| Calmar ratioReturn relative to maximum drawdown | 4.54 | 0.10 | +4.43 |
| Martin ratioReturn relative to average drawdown | 15.42 | 0.15 | +15.26 |
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Drawdowns
DBMF vs. PFIX - Drawdown Comparison
The maximum DBMF drawdown since its inception was -20.39%, smaller than the maximum PFIX drawdown of -36.17%. Use the drawdown chart below to compare losses from any high point for DBMF and PFIX.
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Drawdown Indicators
| DBMF | PFIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.39% | -36.17% | +15.78% |
Max Drawdown (1Y)Largest decline over 1 year | -6.10% | -23.71% | +17.61% |
Max Drawdown (3Y)Largest decline over 3 years | -15.60% | -36.17% | +20.57% |
Max Drawdown (5Y)Largest decline over 5 years | -20.39% | -36.17% | +15.78% |
Current DrawdownCurrent decline from peak | -1.81% | -8.76% | +6.95% |
Average DrawdownAverage peak-to-trough decline | -6.48% | -17.19% | +10.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.79% | 15.42% | -13.63% |
Volatility
DBMF vs. PFIX - Volatility Comparison
The current volatility for iMGP DBi Managed Futures Strategy ETF (DBMF) is 2.31%, while Simplify Interest Rate Hedge ETF (PFIX) has a volatility of 7.75%. This indicates that DBMF experiences smaller price fluctuations and is considered to be less risky than PFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBMF | PFIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.31% | 7.75% | -5.44% |
Volatility (6M)Calculated over the trailing 6-month period | 9.81% | 21.92% | -12.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.68% | 29.31% | -16.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.44% | 38.61% | -26.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.36% | 38.13% | -25.77% |
DBMF vs. PFIX - Expense Ratio Comparison
DBMF has a 0.85% expense ratio, which is higher than PFIX's 0.50% expense ratio.
Dividends
DBMF vs. PFIX - Dividend Comparison
DBMF's dividend yield for the trailing twelve months is around 5.11%, less than PFIX's 7.82% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
DBMF iMGP DBi Managed Futures Strategy ETF | 5.11% | 5.91% | 5.75% | 2.91% | 7.72% | 10.38% | 0.86% | 9.35% |
PFIX Simplify Interest Rate Hedge ETF | 7.82% | 9.92% | 3.40% | 87.92% | 0.63% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DBMF and PFIX have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PFIX has higher volatility (7.75%) compared to DBMF (2.31%). In terms of maximum drawdown, DBMF dropped -20.39% vs PFIX's -36.17%.
On 5-year performance, PFIX leads with 23.20% vs 8.34% for DBMF. On fees, PFIX is cheaper at 0.50% 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.
Over the 5-year period, PFIX has performed better with a 23.20% return vs 8.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PFIX is cheaper with a 0.50% expense ratio, compared with 0.85% for DBMF.
PFIX has the higher dividend yield at 7.82%, compared with 5.11% for DBMF.
DBMF is categorized as Systematic Trend, while PFIX is Inverse Bonds. They also come from different issuers: iMGP and Simplify. Their fees differ too: 0.85% for DBMF and 0.50% for PFIX.
DBMF currently has the higher Sharpe Ratio (2.18 vs 0.08), 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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