DBMFE.PA vs. SPYE.DE
DBMFE.PA (iMGP DBi Managed Futures Fund R EUR UCITS ETF Acc) and SPYE.DE (SPDR MSCI Europe UCITS ETF) are both exchange-traded funds - DBMFE.PA is a Hedge Fund fund actively managed by iM Global Partner, while SPYE.DE is a Europe Equities fund tracking the MSCI Europe. DBMFE.PA is actively managed, while SPYE.DE is passively managed. Over the past year, DBMFE.PA returned 30.03% vs 21.80% for SPYE.DE. At a 0.05 correlation, their price movements are largely independent. DBMFE.PA charges 0.75%/yr vs 0.25%/yr for SPYE.DE.
Performance
DBMFE.PA vs. SPYE.DE - Performance Comparison
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Returns By Period
In the year-to-date period, DBMFE.PA achieves a 13.01% return, which is significantly higher than SPYE.DE's 9.96% return.
DBMFE.PA
- 1D
- 0.00%
- 1M
- 1.67%
- YTD
- 13.01%
- 6M
- 13.42%
- 1Y
- 30.03%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPYE.DE
- 1D
- -0.66%
- 1M
- 1.77%
- YTD
- 9.96%
- 6M
- 10.79%
- 1Y
- 21.80%
- 3Y*
- 14.98%
- 5Y*
- 10.01%
- 10Y*
- 10.12%
DBMFE.PA vs. SPYE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DBMFE.PA iMGP DBi Managed Futures Fund R EUR UCITS ETF Acc | 13.01% | 14.24% |
SPYE.DE SPDR MSCI Europe UCITS ETF | 9.96% | 15.31% |
Correlation
The correlation between DBMFE.PA and SPYE.DE is 0.05, 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 | 0.05 |
Correlation (All Time) Calculated using the full available price history since Apr 28, 2025 | 0.05 |
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Return for Risk
DBMFE.PA vs. SPYE.DE — Risk / Return Rank
DBMFE.PA
SPYE.DE
DBMFE.PA vs. SPYE.DE - 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 SPDR MSCI Europe UCITS ETF (SPYE.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.
| DBMFE.PA | SPYE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.24 | ||
| Sortino ratioReturn per unit of downside risk | +0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.32 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 4.25 | 2.30 | +1.95 |
| Martin ratioReturn relative to average drawdown | 13.14 | 8.65 | +4.49 |
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Drawdowns
DBMFE.PA vs. SPYE.DE - Drawdown Comparison
The maximum DBMFE.PA drawdown since its inception was -7.01%, smaller than the maximum SPYE.DE drawdown of -35.54%. Use the drawdown chart below to compare losses from any high point for DBMFE.PA and SPYE.DE.
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Drawdown Indicators
| DBMFE.PA | SPYE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.01% | -35.54% | +28.53% |
Max Drawdown (1Y)Largest decline over 1 year | -7.01% | -9.45% | +2.44% |
Max Drawdown (3Y)Largest decline over 3 years | — | -16.65% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -19.53% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.54% | — |
Current DrawdownCurrent decline from peak | -1.11% | -0.66% | -0.45% |
Average DrawdownAverage peak-to-trough decline | -2.58% | -5.48% | +2.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.27% | 2.51% | -0.24% |
Volatility
DBMFE.PA vs. SPYE.DE - Volatility Comparison
iMGP DBi Managed Futures Fund R EUR UCITS ETF Acc (DBMFE.PA) has a higher volatility of 3.68% compared to SPDR MSCI Europe UCITS ETF (SPYE.DE) at 2.86%. This indicates that DBMFE.PA's price experiences larger fluctuations and is considered to be riskier than SPYE.DE 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 | SPYE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.68% | 2.86% | +0.82% |
Volatility (6M)Calculated over the trailing 6-month period | 11.39% | 10.72% | +0.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.52% | 12.91% | +2.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.32% | 14.31% | +3.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.32% | 15.38% | +1.94% |
DBMFE.PA vs. SPYE.DE - Expense Ratio Comparison
DBMFE.PA has a 0.75% expense ratio, which is higher than SPYE.DE's 0.25% expense ratio.
Dividends
DBMFE.PA vs. SPYE.DE - Dividend Comparison
Neither DBMFE.PA nor SPYE.DE has paid dividends to shareholders.
Frequently Asked Questions
DBMFE.PA and SPYE.DE have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPYE.DE is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYE.DE is cheaper with a 0.25% expense ratio, compared with 0.75% for DBMFE.PA.
DBMFE.PA is categorized as Hedge Fund, while SPYE.DE is Europe Equities. They also come from different issuers: iM Global Partner and State Street. Their fees differ too: 0.75% for DBMFE.PA and 0.25% for SPYE.DE.
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