DBMF vs. VWRA.L
DBMF (iMGP DBi Managed Futures Strategy ETF) and VWRA.L (Vanguard FTSE All-World UCITS ETF USD Accumulating) are both exchange-traded funds - DBMF is a Systematic Trend fund actively managed by iM Global Partners, while VWRA.L is a Global Equities fund tracking the FTSE All-World Index. DBMF is actively managed, while VWRA.L is passively managed. Over the past 5 years, DBMF returned 8.01%/yr vs 10.91%/yr for VWRA.L. At a 0.12 correlation, their price movements are largely independent. DBMF charges 0.85%/yr vs 0.22%/yr for VWRA.L.
Performance
DBMF vs. VWRA.L - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with DBMF having a 10.27% return and VWRA.L slightly lower at 10.21%.
DBMF
- 1D
- 0.26%
- 1M
- -1.34%
- YTD
- 10.27%
- 6M
- 11.24%
- 1Y
- 26.94%
- 3Y*
- 9.64%
- 5Y*
- 8.01%
- 10Y*
- —
VWRA.L
- 1D
- 2.32%
- 1M
- -0.01%
- YTD
- 10.21%
- 6M
- 11.90%
- 1Y
- 26.42%
- 3Y*
- 19.80%
- 5Y*
- 10.91%
- 10Y*
- —
DBMF vs. VWRA.L - 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% | 6.45% |
VWRA.L Vanguard FTSE All-World UCITS ETF USD Accumulating | 10.21% | 22.45% | 17.65% | 22.28% | -18.11% | 18.46% | 16.19% | 7.42% |
Correlation
The correlation between DBMF and VWRA.L is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.38 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.20 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Jul 23, 2019 | 0.12 |
Over the past year, DBMF and VWRA.L have become more correlated (0.38) than their long-term average of 0.12, meaning their price movements have been converging.
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Return for Risk
DBMF vs. VWRA.L — Risk / Return Rank
DBMF
VWRA.L
DBMF vs. VWRA.L - 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 USD Accumulating (VWRA.L). 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 | VWRA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.37 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 4.50 | 2.91 | +1.59 |
| Martin ratioReturn relative to average drawdown | 16.30 | 11.88 | +4.42 |
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Drawdowns
DBMF vs. VWRA.L - Drawdown Comparison
The maximum DBMF drawdown since its inception was -20.39%, smaller than the maximum VWRA.L drawdown of -33.62%. Use the drawdown chart below to compare losses from any high point for DBMF and VWRA.L.
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Drawdown Indicators
| DBMF | VWRA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.39% | -33.62% | +13.23% |
Max Drawdown (1Y)Largest decline over 1 year | -6.10% | -8.78% | +2.68% |
Max Drawdown (3Y)Largest decline over 3 years | -15.60% | -16.26% | +0.66% |
Max Drawdown (5Y)Largest decline over 5 years | -20.39% | -26.06% | +5.67% |
Current DrawdownCurrent decline from peak | -1.91% | -1.98% | +0.07% |
Average DrawdownAverage peak-to-trough decline | -6.56% | -5.36% | -1.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.68% | 2.16% | -0.48% |
Volatility
DBMF vs. VWRA.L - Volatility Comparison
The current volatility for iMGP DBi Managed Futures Strategy ETF (DBMF) is 2.71%, while Vanguard FTSE All-World UCITS ETF USD Accumulating (VWRA.L) has a volatility of 4.38%. This indicates that DBMF experiences smaller price fluctuations and is considered to be less risky than VWRA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBMF | VWRA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.71% | 4.38% | -1.67% |
Volatility (6M)Calculated over the trailing 6-month period | 10.00% | 10.27% | -0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.35% | 12.74% | -0.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.55% | 15.39% | -2.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.41% | 17.25% | -4.84% |
DBMF vs. VWRA.L - Expense Ratio Comparison
DBMF has a 0.85% expense ratio, which is higher than VWRA.L's 0.22% expense ratio.
Dividends
DBMF vs. VWRA.L - Dividend Comparison
DBMF's dividend yield for the trailing twelve months is around 5.19%, while VWRA.L 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% |
VWRA.L Vanguard FTSE All-World UCITS ETF USD Accumulating | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
DBMF and VWRA.L have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VWRA.L is cheaper at 0.22% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VWRA.L is cheaper with a 0.22% expense ratio, compared with 0.85% for DBMF.
DBMF is categorized as Systematic Trend, while VWRA.L is Global Equities. They also come from different issuers: iM Global Partners and Vanguard. Their fees differ too: 0.85% for DBMF and 0.22% for VWRA.L.
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