EXHD.DE vs. DBMF
EXHD.DE (iShares eb.rexx Government Germany 5.5-10.5yr UCITS ETF (DE)) and DBMF (iMGP DBi Managed Futures Strategy ETF) are both exchange-traded funds - EXHD.DE is a European Government Bonds fund tracking the eb.rexx® Government Germany 5.5-10.5, while DBMF is a Systematic Trend fund actively managed by iM Global Partners. EXHD.DE is passively managed, while DBMF is actively managed. Over the past 5 years, EXHD.DE returned -2.82%/yr vs 9.11%/yr for DBMF. At a correlation of -0.14, they often move in opposite directions. EXHD.DE charges 0.16%/yr vs 0.85%/yr for DBMF.
Performance
EXHD.DE vs. DBMF - Performance Comparison
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Different Trading Currencies
EXHD.DE is traded in EUR, while DBMF is traded in USD. To make them comparable, the DBMF values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, EXHD.DE achieves a -0.51% return, which is significantly lower than DBMF's 11.85% return.
EXHD.DE
- 1D
- 0.17%
- 1M
- -0.45%
- YTD
- -0.51%
- 6M
- -0.74%
- 1Y
- -0.85%
- 3Y*
- 1.05%
- 5Y*
- -2.82%
- 10Y*
- -1.06%
DBMF
- 1D
- -1.23%
- 1M
- 2.68%
- YTD
- 11.85%
- 6M
- 12.96%
- 1Y
- 26.97%
- 3Y*
- 7.27%
- 5Y*
- 9.11%
- 10Y*
- —
EXHD.DE vs. DBMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EXHD.DE iShares eb.rexx Government Germany 5.5-10.5yr UCITS ETF (DE) | -0.51% | -0.38% | -0.04% | 6.26% | -17.27% | -2.39% | 2.08% | 0.35% |
DBMF iMGP DBi Managed Futures Strategy ETF | 11.85% | 0.34% | 14.32% | -11.67% | 29.14% | 19.83% | -6.59% | 10.48% |
Correlation
The correlation between EXHD.DE and DBMF is -0.10, 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 | -0.10 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.23 |
Correlation (All Time) Calculated using the full available price history since May 9, 2019 | -0.14 |
The correlation between EXHD.DE and DBMF shifts across timeframes, from -0.23 (5 years) to -0.10 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
EXHD.DE vs. DBMF — Risk / Return Rank
EXHD.DE
DBMF
EXHD.DE vs. DBMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares eb.rexx Government Germany 5.5-10.5yr UCITS ETF (DE) (EXHD.DE) and iMGP DBi Managed Futures Strategy ETF (DBMF). 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.
| EXHD.DE | DBMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.42 | ||
| Sortino ratioReturn per unit of downside risk | -3.17 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.44 | -0.49 |
| Calmar ratioReturn relative to maximum drawdown | -0.35 | 4.90 | -5.25 |
| Martin ratioReturn relative to average drawdown | -0.91 | 17.42 | -18.32 |
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
| EXHD.DE | DBMF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.31 | 2.11 | -2.42 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.44 | 0.57 | -1.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.20 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 0.57 | -0.24 |
Drawdowns
EXHD.DE vs. DBMF - Drawdown Comparison
The maximum EXHD.DE drawdown since its inception was -22.41%, smaller than the maximum DBMF drawdown of -29.19%. Use the drawdown chart below to compare losses from any high point for EXHD.DE and DBMF.
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Drawdown Indicators
| EXHD.DE | DBMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.41% | -29.19% | +6.78% |
Max Drawdown (1Y)Largest decline over 1 year | -3.79% | -5.53% | +1.74% |
Max Drawdown (3Y)Largest decline over 3 years | -4.84% | -19.60% | +14.76% |
Max Drawdown (5Y)Largest decline over 5 years | -20.34% | -29.19% | +8.85% |
Max Drawdown (10Y)Largest decline over 10 years | -22.41% | — | — |
Current DrawdownCurrent decline from peak | -17.09% | -7.80% | -9.29% |
Average DrawdownAverage peak-to-trough decline | -5.58% | -12.90% | +7.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.48% | 1.55% | -0.07% |
Volatility
EXHD.DE vs. DBMF - Volatility Comparison
The current volatility for iShares eb.rexx Government Germany 5.5-10.5yr UCITS ETF (DE) (EXHD.DE) is 1.99%, while iMGP DBi Managed Futures Strategy ETF (DBMF) has a volatility of 2.66%. This indicates that EXHD.DE experiences smaller price fluctuations and is considered to be less risky than DBMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EXHD.DE | DBMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.99% | 2.66% | -0.67% |
Volatility (6M)Calculated over the trailing 6-month period | 3.57% | 9.94% | -6.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.30% | 12.84% | -8.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.35% | 16.03% | -9.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.16% | 15.34% | -10.18% |
EXHD.DE vs. DBMF - Expense Ratio Comparison
EXHD.DE has a 0.16% expense ratio, which is lower than DBMF's 0.85% expense ratio.
Dividends
EXHD.DE vs. DBMF - Dividend Comparison
EXHD.DE's dividend yield for the trailing twelve months is around 1.37%, less than DBMF's 5.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBMF iMGP DBi Managed Futures Strategy ETF | 5.22% | 5.91% | 5.75% | 2.91% | 7.72% | 10.38% | 0.86% | 9.35% | 0.00% | 0.00% | 0.00% | 0.00% |
EXHD.DE iShares eb.rexx Government Germany 5.5-10.5yr UCITS ETF (DE) | 1.37% | 1.73% | 1.44% | 0.88% | 1.26% | 1.35% | 1.01% | 0.96% | 1.00% | 1.26% | 1.40% | 1.77% |
Frequently Asked Questions
EXHD.DE and DBMF have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EXHD.DE is cheaper at 0.16% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EXHD.DE is cheaper with a 0.16% expense ratio, compared with 0.85% for DBMF.
EXHD.DE is categorized as European Government Bonds, while DBMF is Systematic Trend. They also come from different issuers: iShares and iM Global Partners. Their fees differ too: 0.16% for EXHD.DE and 0.85% for DBMF.
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