DBMF vs. XLK

Last updated Jun 13, 2026

DBMF (iMGP DBi Managed Futures Strategy ETF) and XLK (State Street Technology Select Sector SPDR ETF) are both exchange-traded funds - DBMF is a Systematic Trend fund actively managed by iM Global Partners, while XLK is a Technology Equities fund tracking the S&P Technology Select Sector Daily Capped 35/20 Index. DBMF is actively managed, while XLK is passively managed. Over the past 5 years, DBMF returned 8.01%/yr vs 22.02%/yr for XLK. At a 0.16 correlation, their price movements are largely independent. DBMF charges 0.85%/yr vs 0.08%/yr for XLK.

Performance

DBMF vs. XLK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iMGP DBi Managed Futures Strategy ETF (DBMF) and State Street Technology Select Sector SPDR ETF (XLK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DBMF achieves a 10.27% return, which is significantly lower than XLK's 28.52% return.

DBMF

• 1D: 0.26%
• 1M: -0.96%
• YTD: 10.27%
• 6M: 11.24%
• 1Y: 27.33%
• 3Y*: 9.64%
• 5Y*: 8.01%
• 10Y*: —

XLK

• 1D: 0.87%
• 1M: 4.50%
• YTD: 28.52%
• 6M: 28.96%
• 1Y: 53.24%
• 3Y*: 30.28%
• 5Y*: 22.02%
• 10Y*: 25.19%

*Multi-year figures are annualized to reflect compound growth (CAGR)

DBMF vs. XLK - 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%	10.51%
XLK State Street Technology Select Sector SPDR ETF	28.52%	24.61%	21.63%	56.02%	-27.73%	34.74%	43.62%	20.94%

Correlation

The correlation between DBMF and XLK is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.10
Correlation (All Time) Calculated using the full available price history since May 8, 2019	0.16

The correlation between DBMF and XLK shifts across timeframes, from 0.10 (5 years) to 0.34 (1 year), reflecting how their relationship changes across market environments.

DBMF vs. XLK - Sectors Allocation Comparison

Sectors	DBMF	XLK
Technology	29.8%	99.7%
Healthcare	12.7%	-
Financial Services	12.5%	-
Consumer Cyclical	11.0%	-
Communication Services	8.6%	-
Industrials	8.4%	0.1%
Consumer Defensive	6.1%	-
Energy	3.9%	0.2%
Real Estate	2.5%	-
Utilities	2.3%	-
Basic Materials	2.2%	-

Return for Risk

DBMF vs. XLK — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DBMF

DBMF Risk / Return Rank: 84
DBMF Sharpe Ratio Rank: 81
DBMF Sortino Ratio Rank: 76
DBMF Omega Ratio Rank: 87
DBMF Calmar Ratio Rank: 88
DBMF Martin Ratio Rank: 87

XLK

XLK Risk / Return Rank: 76
XLK Sharpe Ratio Rank: 85
XLK Sortino Ratio Rank: 76
XLK Omega Ratio Rank: 78
XLK Calmar Ratio Rank: 75
XLK Martin Ratio Rank: 68

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DBMF vs. XLK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iMGP DBi Managed Futures Strategy ETF (DBMF) and State Street Technology Select Sector SPDR ETF (XLK). 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	XLK	Difference
Sharpe ratio: Return per unit of total volatility	2.22	2.37	-0.15
Sortino ratio: Return per unit of downside risk	2.92	2.92	0.00
Omega ratio: Gain probability vs. loss probability	1.47	1.39	+0.08
Calmar ratio: Return relative to maximum drawdown	4.50	3.36	+1.14
Martin ratio: Return relative to average drawdown	16.30	10.85	+5.45

DBMF vs. XLK - Sharpe Ratio Comparison

The current DBMF Sharpe Ratio is 2.22, which is comparable to the XLK Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of DBMF and XLK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DBMF vs. XLK - Drawdown Comparison

The maximum DBMF drawdown since its inception was -20.39%, smaller than the maximum XLK drawdown of -82.05%. Use the drawdown chart below to compare losses from any high point for DBMF and XLK.

Drawdown Indicators

	DBMF	XLK	Difference
Max Drawdown Largest peak-to-trough decline	-20.39%	-82.05%	+61.66%
Max Drawdown (1Y) Largest decline over 1 year	-6.10%	-15.92%	+9.82%
Max Drawdown (3Y) Largest decline over 3 years	-15.60%	-25.66%	+10.06%
Max Drawdown (5Y) Largest decline over 5 years	-20.39%	-33.56%	+13.17%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.56%	—
Current Drawdown Current decline from peak	-1.91%	-6.77%	+4.86%
Average Drawdown Average peak-to-trough decline	-6.56%	-34.93%	+28.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.68%	4.92%	-3.24%

Volatility

DBMF vs. XLK - Volatility Comparison

The current volatility for iMGP DBi Managed Futures Strategy ETF (DBMF) is 2.71%, while State Street Technology Select Sector SPDR ETF (XLK) has a volatility of 10.86%. This indicates that DBMF experiences smaller price fluctuations and is considered to be less risky than XLK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DBMF	XLK	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.71%	10.86%	-8.15%
Volatility (6M) Calculated over the trailing 6-month period	10.00%	18.92%	-8.92%
Volatility (1Y) Calculated over the trailing 1-year period	12.35%	22.55%	-10.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.55%	25.18%	-12.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.41%	24.64%	-12.23%

DBMF vs. XLK - Expense Ratio Comparison

DBMF has a 0.85% expense ratio, which is higher than XLK's 0.08% expense ratio.

Dividends

DBMF vs. XLK - Dividend Comparison

DBMF's dividend yield for the trailing twelve months is around 5.19%, more than XLK's 0.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DBMF iMGP DBi Managed Futures Strategy ETF	5.19%	5.91%	5.75%	2.91%	7.72%	10.38%	0.86%	9.35%	0.00%	0.00%	0.00%	0.00%
XLK State Street Technology Select Sector SPDR ETF	0.41%	0.54%	0.66%	0.76%	1.04%	0.65%	0.92%	1.16%	1.60%	1.37%	1.74%	1.79%

Frequently Asked Questions

Can I hold both DBMF and XLK in my portfolio?

DBMF and XLK have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DBMF or XLK?

XLK has higher volatility (10.86%) compared to DBMF (2.71%). In terms of maximum drawdown, DBMF dropped -20.39% vs XLK's -82.05%.

Which ETF is better, DBMF or XLK?

On 5-year performance, XLK leads with 22.02% vs 8.01% for DBMF. On fees, XLK is cheaper at 0.08% 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.

Which ETF has performed better, DBMF or XLK?

Over the 5-year period, XLK has performed better with a 22.02% return vs 8.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DBMF or XLK?

XLK is cheaper with a 0.08% expense ratio, compared with 0.85% for DBMF.

Which ETF pays a higher dividend yield, DBMF or XLK?

DBMF has the higher dividend yield at 5.19%, compared with 0.41% for XLK.

What is the main difference between DBMF and XLK?

DBMF is categorized as Systematic Trend, while XLK is Technology Equities. They also come from different issuers: iM Global Partners and State Street. Their fees differ too: 0.85% for DBMF and 0.08% for XLK.

Which has better risk-adjusted returns?

XLK currently has the higher Sharpe Ratio (2.37 vs 2.22), 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.