DBMFE.PA vs. CBE3.L
DBMFE.PA (iMGP DBi Managed Futures Fund R EUR UCITS ETF Acc) and CBE3.L (iShares € Govt Bond 1-3yr UCITS ETF EUR (Acc)) are both exchange-traded funds - DBMFE.PA is a Hedge Fund fund actively managed by iM Global Partner, while CBE3.L is a Short-Term Bond fund tracking the Bloomberg Euro Government Bond 1-3 Year Index. DBMFE.PA is actively managed, while CBE3.L is passively managed. Over the past year, DBMFE.PA returned 28.35% vs 0.94% for CBE3.L. At a correlation of -0.13, they often move in opposite directions. DBMFE.PA charges 0.75%/yr vs 0.20%/yr for CBE3.L.
Performance
DBMFE.PA vs. CBE3.L - Performance Comparison
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Returns By Period
In the year-to-date period, DBMFE.PA achieves a 12.65% return, which is significantly higher than CBE3.L's 0.13% return.
DBMFE.PA
- 1D
- -0.06%
- 1M
- 2.62%
- YTD
- 12.65%
- 6M
- 14.28%
- 1Y
- 28.35%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CBE3.L
- 1D
- 0.04%
- 1M
- 0.24%
- YTD
- 0.13%
- 6M
- 0.25%
- 1Y
- 0.94%
- 3Y*
- 2.70%
- 5Y*
- 0.81%
- 10Y*
- 0.36%
DBMFE.PA vs. CBE3.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DBMFE.PA iMGP DBi Managed Futures Fund R EUR UCITS ETF Acc | 12.65% | 8.56% |
CBE3.L iShares € Govt Bond 1-3yr UCITS ETF EUR (Acc) | 0.13% | 1.53% |
Correlation
The correlation between DBMFE.PA and CBE3.L is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.11 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2025 | -0.13 |
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Return for Risk
DBMFE.PA vs. CBE3.L — Risk / Return Rank
DBMFE.PA
CBE3.L
DBMFE.PA vs. CBE3.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iMGP DBi Managed Futures Fund R EUR UCITS ETF Acc (DBMFE.PA) and iShares € Govt Bond 1-3yr UCITS ETF EUR (Acc) (CBE3.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.
| DBMFE.PA | CBE3.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.76 | ||
| Sortino ratioReturn per unit of downside risk | +0.88 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.16 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 3.99 | 0.85 | +3.14 |
| Martin ratioReturn relative to average drawdown | 8.14 | 2.81 | +5.33 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DBMFE.PA | CBE3.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.55 | 0.79 | +0.76 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.53 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.28 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.05 | 0.44 | +0.61 |
Drawdowns
DBMFE.PA vs. CBE3.L - Drawdown Comparison
The maximum DBMFE.PA drawdown since its inception was -7.01%, which is greater than CBE3.L's maximum drawdown of -6.12%. Use the drawdown chart below to compare losses from any high point for DBMFE.PA and CBE3.L.
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Drawdown Indicators
| DBMFE.PA | CBE3.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.01% | -6.12% | -0.89% |
Max Drawdown (1Y)Largest decline over 1 year | -7.01% | -1.10% | -5.91% |
Max Drawdown (3Y)Largest decline over 3 years | — | -1.10% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -5.19% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -6.12% | — |
Current DrawdownCurrent decline from peak | -1.43% | -0.42% | -1.01% |
Average DrawdownAverage peak-to-trough decline | -3.01% | -1.06% | -1.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.46% | 0.34% | +3.12% |
Volatility
DBMFE.PA vs. CBE3.L - Volatility Comparison
iMGP DBi Managed Futures Fund R EUR UCITS ETF Acc (DBMFE.PA) has a higher volatility of 3.81% compared to iShares € Govt Bond 1-3yr UCITS ETF EUR (Acc) (CBE3.L) at 0.41%. This indicates that DBMFE.PA's price experiences larger fluctuations and is considered to be riskier than CBE3.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DBMFE.PA | CBE3.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.81% | 0.41% | +3.40% |
Volatility (6M)Calculated over the trailing 6-month period | 11.36% | 1.08% | +10.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.01% | 1.19% | +16.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.70% | 1.51% | +16.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.70% | 1.28% | +16.42% |
DBMFE.PA vs. CBE3.L - Expense Ratio Comparison
DBMFE.PA has a 0.75% expense ratio, which is higher than CBE3.L's 0.20% expense ratio.
Dividends
DBMFE.PA vs. CBE3.L - Dividend Comparison
Neither DBMFE.PA nor CBE3.L has paid dividends to shareholders.
Frequently Asked Questions
DBMFE.PA and CBE3.L have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CBE3.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CBE3.L is cheaper with a 0.20% expense ratio, compared with 0.75% for DBMFE.PA.
DBMFE.PA is categorized as Hedge Fund, while CBE3.L is Short-Term Bond. They also come from different issuers: iM Global Partner and iShares. Their fees differ too: 0.75% for DBMFE.PA and 0.20% for CBE3.L.
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