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 iM Global Partners, while PFIX is a Hedge Fund fund actively managed by Simplify. Both are actively managed. Over the past 5 years, DBMF returned 8.44%/yr vs 20.64%/yr for PFIX. At a 0.25 correlation, their price movements are largely independent. DBMF charges 0.85%/yr vs 0.50%/yr for PFIX.
Performance
DBMF vs. PFIX - Performance Comparison
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Returns By Period
In the year-to-date period, DBMF achieves a 11.44% return, which is significantly higher than PFIX's -0.95% return.
DBMF
- 1D
- 0.62%
- 1M
- 1.06%
- 6M
- 8.39%
- YTD
- 11.44%
- 1Y
- 27.14%
- 3Y*
- 9.77%
- 5Y*
- 8.44%
- 10Y*
- —
PFIX
- 1D
- 0.47%
- 1M
- 3.10%
- 6M
- 0.73%
- YTD
- -0.95%
- 1Y
- -9.65%
- 3Y*
- 16.45%
- 5Y*
- 20.64%
- 10Y*
- —
DBMF vs. PFIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
DBMF iMGP DBi Managed Futures Strategy ETF | 11.44% | 13.85% | 7.24% | -8.94% | 21.61% | -0.12% |
PFIX Simplify Interest Rate Hedge ETF | -0.95% | 0.42% | 35.94% | 5.67% | 92.05% | -24.98% |
Correlation
The correlation between DBMF and PFIX is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
Correlation (5Y) Calculated over the trailing 5-year 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 -0.03 (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 | +2.49 | ||
| Sortino ratioReturn per unit of downside risk | +3.14 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 0.97 | +0.47 |
| Calmar ratioReturn relative to maximum drawdown | 4.47 | -0.38 | +4.85 |
| Martin ratioReturn relative to average drawdown | 15.17 | -0.56 | +15.73 |
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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% | -25.64% | +19.54% |
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 | -0.87% | -18.33% | +17.46% |
Average DrawdownAverage peak-to-trough decline | -6.52% | -17.21% | +10.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.79% | 17.30% | -15.51% |
Volatility
DBMF vs. PFIX - Volatility Comparison
The current volatility for iMGP DBi Managed Futures Strategy ETF (DBMF) is 2.82%, while Simplify Interest Rate Hedge ETF (PFIX) has a volatility of 9.44%. 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 | 2.82% | 9.44% | -6.62% |
Volatility (6M)Calculated over the trailing 6-month period | 10.14% | 22.16% | -12.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.64% | 29.34% | -16.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.52% | 38.55% | -26.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.39% | 38.20% | -25.81% |
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 5.10%, less than PFIX's 9.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
DBMF iMGP DBi Managed Futures Strategy ETF | 5.10% | 5.91% | 5.75% | 2.91% | 7.72% | 10.38% | 0.86% | 9.35% |
PFIX Simplify Interest Rate Hedge ETF | 9.78% | 9.92% | 3.40% | 87.92% | 0.63% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DBMF and PFIX have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PFIX has higher volatility (9.44%) compared to DBMF (2.82%). In terms of maximum drawdown, DBMF dropped -20.39% vs PFIX's -36.17%.
On 5-year performance, PFIX leads with 20.64% vs 8.44% for DBMF. On fees, PFIX is cheaper at 0.50% per year. On volatility, DBMF has been the lower-risk option at 2.82%. 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 20.64% return vs 8.44%. 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 9.78%, compared with 5.10% for DBMF.
DBMF is categorized as Systematic Trend, while PFIX is Hedge Fund. They also come from different issuers: iM Global Partners and Simplify. Their fees differ too: 0.85% for DBMF and 0.50% for PFIX.
DBMF currently has the higher Sharpe Ratio (2.16 vs -0.33), 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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