DBMF vs. VWCE.DE
DBMF (iMGP DBi Managed Futures Strategy ETF) and VWCE.DE (Vanguard FTSE All-World UCITS ETF) are both exchange-traded funds - DBMF is a Systematic Trend fund actively managed by iM Global Partners, while VWCE.DE is a Global Equities fund tracking the FTSE All-World Index. DBMF is actively managed, while VWCE.DE is passively managed. Over the past 5 years, DBMF returned 8.01%/yr vs 10.87%/yr for VWCE.DE. At a 0.13 correlation, their price movements are largely independent. DBMF charges 0.85%/yr vs 0.19%/yr for VWCE.DE.
Performance
DBMF vs. VWCE.DE - Performance Comparison
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Different Trading Currencies
DBMF is traded in USD, while VWCE.DE is traded in EUR. To make them comparable, the VWCE.DE values have been converted to USD using the latest available exchange rates.
Returns By Period
The year-to-date returns for both stocks are quite close, with DBMF having a 10.27% return and VWCE.DE slightly lower at 10.00%.
DBMF
- 1D
- 0.26%
- 1M
- -1.34%
- YTD
- 10.27%
- 6M
- 11.24%
- 1Y
- 26.94%
- 3Y*
- 9.64%
- 5Y*
- 8.01%
- 10Y*
- —
VWCE.DE
- 1D
- 1.71%
- 1M
- 0.00%
- YTD
- 10.00%
- 6M
- 11.71%
- 1Y
- 26.52%
- 3Y*
- 19.75%
- 5Y*
- 10.87%
- 10Y*
- —
DBMF vs. VWCE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
DBMF iMGP DBi Managed Futures Strategy ETF | 10.27% | 13.85% | 7.24% | -8.94% | 21.61% | 11.49% | 1.80% | 4.90% |
VWCE.DE Vanguard FTSE All-World UCITS ETF | 10.00% | 23.23% | 17.30% | 21.91% | -18.24% | 18.47% | 15.65% | 7.58% |
Correlation
The correlation between DBMF and VWCE.DE is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.23 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Jul 25, 2019 | 0.13 |
Over the past year, DBMF and VWCE.DE have become more correlated (0.39) than their long-term average of 0.13, meaning their price movements have been converging.
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Return for Risk
DBMF vs. VWCE.DE — Risk / Return Rank
DBMF
VWCE.DE
DBMF vs. VWCE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iMGP DBi Managed Futures Strategy ETF (DBMF) and Vanguard FTSE All-World UCITS ETF (VWCE.DE). 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 | VWCE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.36 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 4.50 | 2.86 | +1.64 |
| Martin ratioReturn relative to average drawdown | 16.30 | 11.93 | +4.37 |
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Drawdowns
DBMF vs. VWCE.DE - Drawdown Comparison
The maximum DBMF drawdown since its inception was -20.39%, smaller than the maximum VWCE.DE drawdown of -33.91%. Use the drawdown chart below to compare losses from any high point for DBMF and VWCE.DE.
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Drawdown Indicators
| DBMF | VWCE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.39% | -33.91% | +13.52% |
Max Drawdown (1Y)Largest decline over 1 year | -6.10% | -8.91% | +2.81% |
Max Drawdown (3Y)Largest decline over 3 years | -15.60% | -17.27% | +1.67% |
Max Drawdown (5Y)Largest decline over 5 years | -20.39% | -26.11% | +5.72% |
Current DrawdownCurrent decline from peak | -1.91% | -2.01% | +0.10% |
Average DrawdownAverage peak-to-trough decline | -6.56% | -5.43% | -1.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.68% | 2.14% | -0.46% |
Volatility
DBMF vs. VWCE.DE - Volatility Comparison
The current volatility for iMGP DBi Managed Futures Strategy ETF (DBMF) is 2.71%, while Vanguard FTSE All-World UCITS ETF (VWCE.DE) has a volatility of 3.93%. This indicates that DBMF experiences smaller price fluctuations and is considered to be less risky than VWCE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBMF | VWCE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.71% | 3.93% | -1.22% |
Volatility (6M)Calculated over the trailing 6-month period | 10.00% | 9.70% | +0.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.35% | 12.46% | -0.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.55% | 15.33% | -2.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.41% | 17.33% | -4.92% |
DBMF vs. VWCE.DE - Expense Ratio Comparison
DBMF has a 0.85% expense ratio, which is higher than VWCE.DE's 0.19% expense ratio.
Dividends
DBMF vs. VWCE.DE - Dividend Comparison
DBMF's dividend yield for the trailing twelve months is around 5.19%, while VWCE.DE has not paid dividends to shareholders.
| 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% |
VWCE.DE Vanguard FTSE All-World UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DBMF and VWCE.DE have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VWCE.DE is cheaper at 0.19% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VWCE.DE is cheaper with a 0.19% expense ratio, compared with 0.85% for DBMF.
DBMF is categorized as Systematic Trend, while VWCE.DE is Global Equities. They also come from different issuers: iM Global Partners and Vanguard. Their fees differ too: 0.85% for DBMF and 0.19% for VWCE.DE.
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