DBMFE.PA vs. SPYI.DE
DBMFE.PA (iMGP DBi Managed Futures Fund R EUR UCITS ETF Acc) and SPYI.DE (SPDR MSCI ACWI IMI UCITS ETF) are both exchange-traded funds - DBMFE.PA is a Hedge Fund fund actively managed by iM Global Partner, while SPYI.DE is a Global Equities fund tracking the MSCI All Country World Investable Market (ACWI IMI). DBMFE.PA is actively managed, while SPYI.DE is passively managed. Over the past year, DBMFE.PA returned 30.03% vs 27.97% for SPYI.DE. At a 0.24 correlation, their price movements are largely independent. DBMFE.PA charges 0.75%/yr vs 0.17%/yr for SPYI.DE.
Performance
DBMFE.PA vs. SPYI.DE - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with DBMFE.PA having a 13.01% return and SPYI.DE slightly higher at 13.23%.
DBMFE.PA
- 1D
- 0.00%
- 1M
- 1.67%
- YTD
- 13.01%
- 6M
- 13.42%
- 1Y
- 30.03%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPYI.DE
- 1D
- -0.35%
- 1M
- 1.07%
- YTD
- 13.23%
- 6M
- 13.80%
- 1Y
- 27.97%
- 3Y*
- 17.87%
- 5Y*
- 11.46%
- 10Y*
- 12.37%
DBMFE.PA vs. SPYI.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
DBMFE.PA iMGP DBi Managed Futures Fund R EUR UCITS ETF Acc | 13.01% | 14.24% |
SPYI.DE SPDR MSCI ACWI IMI UCITS ETF | 13.23% | 22.00% |
Correlation
The correlation between DBMFE.PA and SPYI.DE is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Apr 28, 2025 | 0.24 |
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Return for Risk
DBMFE.PA vs. SPYI.DE — Risk / Return Rank
DBMFE.PA
SPYI.DE
DBMFE.PA vs. SPYI.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 ACWI IMI UCITS ETF (SPYI.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 | SPYI.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.45 | ||
| Sortino ratioReturn per unit of downside risk | -0.71 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.44 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 4.25 | 4.32 | -0.07 |
| Martin ratioReturn relative to average drawdown | 13.14 | 17.14 | -4.00 |
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Drawdowns
DBMFE.PA vs. SPYI.DE - Drawdown Comparison
The maximum DBMFE.PA drawdown since its inception was -7.01%, smaller than the maximum SPYI.DE drawdown of -41.58%. Use the drawdown chart below to compare losses from any high point for DBMFE.PA and SPYI.DE.
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Drawdown Indicators
| DBMFE.PA | SPYI.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.01% | -41.58% | +34.57% |
Max Drawdown (1Y)Largest decline over 1 year | -7.01% | -6.45% | -0.56% |
Max Drawdown (3Y)Largest decline over 3 years | — | -21.64% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.64% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -34.49% | — |
Current DrawdownCurrent decline from peak | -1.11% | -1.40% | +0.29% |
Average DrawdownAverage peak-to-trough decline | -2.58% | -8.41% | +5.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.27% | 1.63% | +0.64% |
Volatility
DBMFE.PA vs. SPYI.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 ACWI IMI UCITS ETF (SPYI.DE) at 3.42%. This indicates that DBMFE.PA's price experiences larger fluctuations and is considered to be riskier than SPYI.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 | SPYI.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.68% | 3.42% | +0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 11.39% | 8.53% | +2.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.52% | 11.75% | +3.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.32% | 13.97% | +3.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.32% | 15.93% | +1.39% |
DBMFE.PA vs. SPYI.DE - Expense Ratio Comparison
DBMFE.PA has a 0.75% expense ratio, which is higher than SPYI.DE's 0.17% expense ratio.
Dividends
DBMFE.PA vs. SPYI.DE - Dividend Comparison
Neither DBMFE.PA nor SPYI.DE has paid dividends to shareholders.
Frequently Asked Questions
DBMFE.PA and SPYI.DE have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPYI.DE is cheaper at 0.17% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYI.DE is cheaper with a 0.17% expense ratio, compared with 0.75% for DBMFE.PA.
DBMFE.PA is categorized as Hedge Fund, while SPYI.DE is Global Equities. They also come from different issuers: iM Global Partner and State Street. Their fees differ too: 0.75% for DBMFE.PA and 0.17% for SPYI.DE.
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