FOXY vs. DBMF

Last updated Jun 13, 2026

FOXY (Simplify Currency Strategy ETF) and DBMF (iMGP DBi Managed Futures Strategy ETF) are both exchange-traded funds - FOXY is a Leveraged Currency fund actively managed by Simplify, while DBMF is a Systematic Trend fund actively managed by iM Global Partners. Both are actively managed. Over the past year, FOXY returned 19.85% vs 27.33% for DBMF. At a 0.18 correlation, their price movements are largely independent. FOXY charges 0.81%/yr vs 0.85%/yr for DBMF.

Performance

FOXY vs. DBMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Simplify Currency Strategy ETF (FOXY) and iMGP DBi Managed Futures Strategy ETF (DBMF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FOXY having a 10.75% return and DBMF slightly lower at 10.27%.

FOXY

• 1D: 0.28%
• 1M: -0.06%
• YTD: 10.75%
• 6M: 6.56%
• 1Y: 19.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DBMF

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

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

FOXY vs. DBMF - Yearly Performance Comparison

	2026 (YTD)	2025
FOXY Simplify Currency Strategy ETF	10.75%	14.71%
DBMF iMGP DBi Managed Futures Strategy ETF	10.27%	12.30%

Correlation

The correlation between FOXY and DBMF is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (All Time) Calculated using the full available price history since Feb 4, 2025	0.18

FOXY vs. DBMF - Sectors Allocation Comparison

Sectors	FOXY	DBMF
Financial Services	73.1%	12.5%
Basic Materials	-	2.2%
Communication Services	-	8.6%
Consumer Cyclical	-	11.0%
Consumer Defensive	-	6.1%
Energy	-	3.9%
Healthcare	-	12.7%
Industrials	-	8.4%
Real Estate	-	2.5%
Technology	-	29.8%
Utilities	-	2.3%

Return for Risk

FOXY vs. DBMF — Risk / Return Rank

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

FOXY

FOXY Risk / Return Rank: 77
FOXY Sharpe Ratio Rank: 72
FOXY Sortino Ratio Rank: 77
FOXY Omega Ratio Rank: 72
FOXY Calmar Ratio Rank: 89
FOXY Martin Ratio Rank: 76

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

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.

FOXY vs. DBMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify Currency Strategy ETF (FOXY) 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.

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.

	FOXY	DBMF	Difference
Sharpe ratio: Return per unit of total volatility	2.03	2.22	-0.19
Sortino ratio: Return per unit of downside risk	2.99	2.92	+0.07
Omega ratio: Gain probability vs. loss probability	1.37	1.47	-0.10
Calmar ratio: Return relative to maximum drawdown	4.61	4.50	+0.11
Martin ratio: Return relative to average drawdown	12.65	16.30	-3.65

FOXY vs. DBMF - Sharpe Ratio Comparison

The current FOXY Sharpe Ratio is 2.03, which is comparable to the DBMF Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of FOXY and DBMF, 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

FOXY vs. DBMF - Drawdown Comparison

The maximum FOXY drawdown since its inception was -13.09%, smaller than the maximum DBMF drawdown of -20.39%. Use the drawdown chart below to compare losses from any high point for FOXY and DBMF.

Drawdown Indicators

	FOXY	DBMF	Difference
Max Drawdown Largest peak-to-trough decline	-13.09%	-20.39%	+7.30%
Max Drawdown (1Y) Largest decline over 1 year	-4.32%	-6.10%	+1.78%
Max Drawdown (3Y) Largest decline over 3 years	—	-15.60%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-20.39%	—
Current Drawdown Current decline from peak	-2.02%	-1.91%	-0.11%
Average Drawdown Average peak-to-trough decline	-2.10%	-6.56%	+4.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.57%	1.68%	-0.11%

Volatility

FOXY vs. DBMF - Volatility Comparison

Simplify Currency Strategy ETF (FOXY) and iMGP DBi Managed Futures Strategy ETF (DBMF) have volatilities of 2.59% and 2.71%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FOXY	DBMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.59%	2.71%	-0.12%
Volatility (6M) Calculated over the trailing 6-month period	7.54%	10.00%	-2.46%
Volatility (1Y) Calculated over the trailing 1-year period	9.85%	12.35%	-2.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.96%	12.55%	+2.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.96%	12.41%	+2.55%

FOXY vs. DBMF - Expense Ratio Comparison

FOXY has a 0.81% expense ratio, which is lower than DBMF's 0.85% expense ratio.

Dividends

FOXY vs. DBMF - Dividend Comparison

FOXY's dividend yield for the trailing twelve months is around 8.20%, more than DBMF's 5.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
DBMF iMGP DBi Managed Futures Strategy ETF	5.19%	5.91%	5.75%	2.91%	7.72%	10.38%	0.86%	9.35%
FOXY Simplify Currency Strategy ETF	8.20%	5.51%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FOXY and DBMF in my portfolio?

FOXY and DBMF have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FOXY or DBMF?

DBMF has higher volatility (2.71%) compared to FOXY (2.59%). In terms of maximum drawdown, FOXY dropped -13.09% vs DBMF's -20.39%.

Which ETF is better, FOXY or DBMF?

On 1-year performance, DBMF leads with 27.33% vs 19.85% for FOXY. On fees, FOXY is cheaper at 0.81% per year. On volatility, FOXY has been the lower-risk option at 2.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FOXY or DBMF?

Over the 1-year period, DBMF has performed better with a 27.33% return vs 19.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FOXY or DBMF?

FOXY is cheaper with a 0.81% expense ratio, compared with 0.85% for DBMF.

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

FOXY has the higher dividend yield at 8.20%, compared with 5.19% for DBMF.

What is the main difference between FOXY and DBMF?

FOXY is categorized as Leveraged Currency, while DBMF is Systematic Trend. They also come from different issuers: Simplify and iM Global Partners. Their fees differ too: 0.81% for FOXY and 0.85% for DBMF.

Which has better risk-adjusted returns?

DBMF currently has the higher Sharpe Ratio (2.22 vs 2.03), 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.