GSC vs. DBMF
GSC (Goldman Sachs Small Cap Core Equity ETF) and DBMF (iMGP DBi Managed Futures Strategy ETF) are both exchange-traded funds - GSC is a Small Cap Blend Equities fund actively managed by Goldman Sachs, while DBMF is a Systematic Trend fund actively managed by iM Global Partners. Both are actively managed. Over the past 5 years, GSC returned 24.30%/yr vs 7.97%/yr for DBMF. At a 0.10 correlation, their price movements are largely independent. GSC charges 0.75%/yr vs 0.85%/yr for DBMF.
Performance
GSC vs. DBMF - Performance Comparison
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Returns By Period
In the year-to-date period, GSC achieves a 21.55% return, which is significantly higher than DBMF's 9.37% return.
GSC
- 1D
- -1.20%
- 1M
- 7.98%
- YTD
- 21.55%
- 6M
- 18.78%
- 1Y
- 33.32%
- 3Y*
- 28.34%
- 5Y*
- 24.30%
- 10Y*
- 11.56%
DBMF
- 1D
- -1.26%
- 1M
- -1.67%
- YTD
- 9.37%
- 6M
- 8.47%
- 1Y
- 26.10%
- 3Y*
- 8.78%
- 5Y*
- 7.97%
- 10Y*
- —
GSC vs. DBMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
GSC Goldman Sachs Small Cap Core Equity ETF | 21.55% | 6.29% | 13.79% | 33.52% | 28.40% | 58.09% | -33.08% | 5.66% |
DBMF iMGP DBi Managed Futures Strategy ETF | 9.37% | 13.85% | 7.24% | -8.94% | 21.61% | 11.49% | 1.80% | 10.51% |
Correlation
The correlation between GSC and DBMF is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since May 8, 2019 | 0.10 |
The correlation between GSC and DBMF shifts across timeframes, from 0.10 (all time) to 0.27 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
GSC vs. DBMF — Risk / Return Rank
GSC
DBMF
GSC vs. DBMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs Small Cap Core Equity ETF (GSC) 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.
| GSC | DBMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.02 | ||
| Sortino ratioReturn per unit of downside risk | +1.06 | ||
| Omega ratioGain probability vs. loss probability | 1.99 | 1.44 | +0.56 |
| Calmar ratioReturn relative to maximum drawdown | 0.57 | 4.30 | -3.72 |
| Martin ratioReturn relative to average drawdown | 1.98 | 15.28 | -13.31 |
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Drawdowns
GSC vs. DBMF - Drawdown Comparison
The maximum GSC drawdown since its inception was -88.63%, which is greater than DBMF's maximum drawdown of -20.39%. Use the drawdown chart below to compare losses from any high point for GSC and DBMF.
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Drawdown Indicators
| GSC | DBMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -88.63% | -20.39% | -68.24% |
Max Drawdown (1Y)Largest decline over 1 year | -58.25% | -6.10% | -52.15% |
Max Drawdown (3Y)Largest decline over 3 years | -58.25% | -15.60% | -42.65% |
Max Drawdown (5Y)Largest decline over 5 years | -58.25% | -20.39% | -37.86% |
Max Drawdown (10Y)Largest decline over 10 years | -66.06% | — | — |
Current DrawdownCurrent decline from peak | -27.81% | -2.71% | -25.10% |
Average DrawdownAverage peak-to-trough decline | -59.18% | -6.55% | -52.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.91% | 1.71% | +15.20% |
Volatility
GSC vs. DBMF - Volatility Comparison
Goldman Sachs Small Cap Core Equity ETF (GSC) has a higher volatility of 6.31% compared to iMGP DBi Managed Futures Strategy ETF (DBMF) at 3.11%. This indicates that GSC'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
| GSC | DBMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.31% | 3.11% | +3.20% |
Volatility (6M)Calculated over the trailing 6-month period | 187.41% | 10.14% | +177.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 403.80% | 12.47% | +391.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 218.85% | 12.53% | +206.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 160.44% | 12.41% | +148.03% |
GSC vs. DBMF - Expense Ratio Comparison
GSC has a 0.75% expense ratio, which is lower than DBMF's 0.85% expense ratio.
Dividends
GSC vs. DBMF - Dividend Comparison
GSC's dividend yield for the trailing twelve months is around 0.16%, less than DBMF's 5.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
DBMF iMGP DBi Managed Futures Strategy ETF | 5.23% | 5.91% | 5.75% | 2.91% | 7.72% | 10.38% | 0.86% | 9.35% |
GSC Goldman Sachs Small Cap Core Equity ETF | 0.16% | 0.16% | 0.66% | 0.11% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
GSC and DBMF have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GSC has higher volatility (6.31%) compared to DBMF (3.11%). In terms of maximum drawdown, GSC dropped -88.63% vs DBMF's -20.39%.
On 5-year performance, GSC leads with 24.30% vs 7.97% for DBMF. On fees, GSC is cheaper at 0.75% per year. On volatility, DBMF has been the lower-risk option at 3.11%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GSC has performed better with a 24.30% return vs 7.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
GSC is cheaper with a 0.75% expense ratio, compared with 0.85% for DBMF.
DBMF has the higher dividend yield at 5.23%, compared with 0.16% for GSC.
GSC is categorized as Small Cap Blend Equities, while DBMF is Systematic Trend. They also come from different issuers: Goldman Sachs and iM Global Partners. Their fees differ too: 0.75% for GSC and 0.85% for DBMF.
DBMF currently has the higher Sharpe Ratio (2.10 vs 0.08), 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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