GOVZ vs. DBMF
GOVZ (iShares 25+ Year Treasury STRIPS Bond ETF) and DBMF (iMGP DBi Managed Futures Strategy ETF) are both exchange-traded funds - GOVZ is a Government Bonds fund tracking the ICE BofA Long US Treasury Principal STRIPS Index, while DBMF is a Systematic Trend fund actively managed by iM Global Partners. GOVZ is passively managed, while DBMF is actively managed. Over the past 5 years, GOVZ returned -11.53%/yr vs 7.93%/yr for DBMF. At a correlation of -0.30, they often move in opposite directions. GOVZ charges 0.15%/yr vs 0.85%/yr for DBMF.
Performance
GOVZ vs. DBMF - Performance Comparison
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Returns By Period
In the year-to-date period, GOVZ achieves a -0.91% return, which is significantly lower than DBMF's 9.70% return.
GOVZ
- 1D
- -0.33%
- 1M
- -0.38%
- YTD
- -0.91%
- 6M
- -2.71%
- 1Y
- 2.81%
- 3Y*
- -7.61%
- 5Y*
- -11.53%
- 10Y*
- —
DBMF
- 1D
- -2.01%
- 1M
- -0.10%
- YTD
- 9.70%
- 6M
- 11.78%
- 1Y
- 28.17%
- 3Y*
- 9.96%
- 5Y*
- 7.93%
- 10Y*
- —
GOVZ vs. DBMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | -0.91% | -1.81% | -16.24% | 0.90% | -41.03% | -4.86% | -5.61% |
DBMF iMGP DBi Managed Futures Strategy ETF | 9.70% | 13.85% | 7.24% | -8.94% | 21.61% | 11.49% | 5.87% |
Correlation
The correlation between GOVZ and DBMF is 0.09, 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 | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.32 |
Correlation (All Time) Calculated using the full available price history since Sep 25, 2020 | -0.30 |
The correlation between GOVZ and DBMF shifts across timeframes, from -0.32 (5 years) to 0.09 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GOVZ vs. DBMF — Risk / Return Rank
GOVZ
DBMF
GOVZ vs. DBMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) 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.
| GOVZ | DBMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.21 | ||
| Sortino ratioReturn per unit of downside risk | -2.78 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.48 | -0.46 |
| Calmar ratioReturn relative to maximum drawdown | 0.06 | 4.58 | -4.52 |
| Martin ratioReturn relative to average drawdown | 0.13 | 16.82 | -16.69 |
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
| GOVZ | DBMF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.05 | 2.26 | -2.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.48 | 0.63 | -1.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.58 | 0.74 | -1.33 |
Drawdowns
GOVZ vs. DBMF - Drawdown Comparison
The maximum GOVZ drawdown since its inception was -59.65%, which is greater than DBMF's maximum drawdown of -20.39%. Use the drawdown chart below to compare losses from any high point for GOVZ and DBMF.
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Drawdown Indicators
| GOVZ | DBMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.65% | -20.39% | -39.26% |
Max Drawdown (1Y)Largest decline over 1 year | -14.16% | -6.10% | -8.06% |
Max Drawdown (3Y)Largest decline over 3 years | -28.72% | -15.60% | -13.12% |
Max Drawdown (5Y)Largest decline over 5 years | -57.63% | -20.39% | -37.24% |
Current DrawdownCurrent decline from peak | -56.46% | -2.42% | -54.04% |
Average DrawdownAverage peak-to-trough decline | -39.93% | -6.58% | -33.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.27% | 1.66% | +4.61% |
Volatility
GOVZ vs. DBMF - Volatility Comparison
iShares 25+ Year Treasury STRIPS Bond ETF (GOVZ) has a higher volatility of 4.05% compared to iMGP DBi Managed Futures Strategy ETF (DBMF) at 2.88%. This indicates that GOVZ's price experiences larger fluctuations and is considered to be riskier 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
| GOVZ | DBMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.05% | 2.88% | +1.17% |
Volatility (6M)Calculated over the trailing 6-month period | 10.50% | 10.00% | +0.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.05% | 12.35% | +3.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.90% | 12.55% | +11.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.34% | 12.43% | +10.91% |
GOVZ vs. DBMF - Expense Ratio Comparison
GOVZ has a 0.15% expense ratio, which is lower than DBMF's 0.85% expense ratio.
Dividends
GOVZ vs. DBMF - Dividend Comparison
GOVZ's dividend yield for the trailing twelve months is around 5.18%, which matches DBMF's 5.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
DBMF iMGP DBi Managed Futures Strategy ETF | 5.22% | 5.91% | 5.75% | 2.91% | 7.72% | 10.38% | 0.86% | 9.35% |
GOVZ iShares 25+ Year Treasury STRIPS Bond ETF | 5.18% | 5.00% | 4.68% | 3.84% | 3.69% | 1.76% | 0.39% | 0.00% |
Frequently Asked Questions
GOVZ and DBMF have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GOVZ has higher volatility (4.05%) compared to DBMF (2.88%). In terms of maximum drawdown, GOVZ dropped -59.65% vs DBMF's -20.39%.
On 5-year performance, DBMF leads with 7.93% vs -11.53% for GOVZ. On fees, GOVZ is cheaper at 0.15% per year. On volatility, DBMF has been the lower-risk option at 2.88%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DBMF has performed better with a 7.93% return vs -11.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GOVZ is cheaper with a 0.15% expense ratio, compared with 0.85% for DBMF.
DBMF has the higher dividend yield at 5.22%, compared with 5.18% for GOVZ.
GOVZ is categorized as Government Bonds, while DBMF is Systematic Trend. They also come from different issuers: iShares and iM Global Partners. Their fees differ too: 0.15% for GOVZ and 0.85% for DBMF.
DBMF currently has the higher Sharpe Ratio (2.26 vs 0.05), 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.
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