GXDW vs. ASMF

Last updated Jun 24, 2026

GXDW (Global X Dorsey Wright Thematic ETF) and ASMF (Virtus AlphaSimplex Managed Futures ETF) are both Systematic Trend funds. GXDW is passively managed, while ASMF is actively managed. Over the past year, GXDW returned 9.86% vs 15.63% for ASMF. At a 0.36 correlation, their price movements are largely independent. GXDW charges 0.50%/yr vs 0.80%/yr for ASMF.

Performance

GXDW vs. ASMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Dorsey Wright Thematic ETF (GXDW) and Virtus AlphaSimplex Managed Futures ETF (ASMF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GXDW achieves a 13.19% return, which is significantly higher than ASMF's 7.12% return.

GXDW

• 1D: -4.79%
• 1M: -7.53%
• YTD: 13.19%
• 6M: 9.90%
• 1Y: 9.86%
• 3Y*: 2.83%
• 5Y*: -10.83%
• 10Y*: —

ASMF

• 1D: -1.67%
• 1M: -1.93%
• YTD: 7.12%
• 6M: 6.84%
• 1Y: 15.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GXDW vs. ASMF - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GXDW Global X Dorsey Wright Thematic ETF	13.19%	3.52%	-1.96%
ASMF Virtus AlphaSimplex Managed Futures ETF	7.12%	1.16%	-3.65%

Correlation

The correlation between GXDW and ASMF is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (All Time) Calculated using the full available price history since May 16, 2024	0.36

The correlation between GXDW and ASMF shifts across timeframes, from 0.36 (all time) to 0.48 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

GXDW vs. ASMF — Risk / Return Rank

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

GXDW

GXDW Risk / Return Rank: 14
GXDW Sharpe Ratio Rank: 14
GXDW Sortino Ratio Rank: 14
GXDW Omega Ratio Rank: 14
GXDW Calmar Ratio Rank: 13
GXDW Martin Ratio Rank: 13

ASMF

ASMF Risk / Return Rank: 48
ASMF Sharpe Ratio Rank: 41
ASMF Sortino Ratio Rank: 39
ASMF Omega Ratio Rank: 41
ASMF Calmar Ratio Rank: 67
ASMF Martin Ratio Rank: 50

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.

GXDW vs. ASMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Dorsey Wright Thematic ETF (GXDW) and Virtus AlphaSimplex Managed Futures ETF (ASMF). 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.

	GXDW	ASMF	Difference
Sharpe ratio: Return per unit of total volatility	0.35	1.36	-1.01
Sortino ratio: Return per unit of downside risk	0.65	1.88	-1.23
Omega ratio: Gain probability vs. loss probability	1.09	1.25	-0.17
Calmar ratio: Return relative to maximum drawdown	0.40	3.13	-2.73
Martin ratio: Return relative to average drawdown	0.93	7.86	-6.92

GXDW vs. ASMF - Sharpe Ratio Comparison

The current GXDW Sharpe Ratio is 0.35, which is lower than the ASMF Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of GXDW and ASMF, 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

GXDW vs. ASMF - Drawdown Comparison

The maximum GXDW drawdown since its inception was -67.81%, which is greater than ASMF's maximum drawdown of -15.31%. Use the drawdown chart below to compare losses from any high point for GXDW and ASMF.

Drawdown Indicators

	GXDW	ASMF	Difference
Max Drawdown Largest peak-to-trough decline	-67.81%	-15.31%	-52.50%
Max Drawdown (1Y) Largest decline over 1 year	-24.65%	-5.02%	-19.63%
Max Drawdown (3Y) Largest decline over 3 years	-31.89%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-61.17%	—	—
Current Drawdown Current decline from peak	-55.26%	-3.39%	-51.87%
Average Drawdown Average peak-to-trough decline	-43.15%	-7.48%	-35.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.60%	1.99%	+8.61%

Volatility

GXDW vs. ASMF - Volatility Comparison

Global X Dorsey Wright Thematic ETF (GXDW) has a higher volatility of 13.77% compared to Virtus AlphaSimplex Managed Futures ETF (ASMF) at 3.45%. This indicates that GXDW's price experiences larger fluctuations and is considered to be riskier than ASMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GXDW	ASMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.77%	3.45%	+10.32%
Volatility (6M) Calculated over the trailing 6-month period	22.56%	9.75%	+12.81%
Volatility (1Y) Calculated over the trailing 1-year period	28.39%	11.53%	+16.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.18%	11.04%	+17.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.87%	11.04%	+18.83%

GXDW vs. ASMF - Expense Ratio Comparison

GXDW has a 0.50% expense ratio, which is lower than ASMF's 0.80% expense ratio.

Dividends

GXDW vs. ASMF - Dividend Comparison

GXDW's dividend yield for the trailing twelve months is around 1.24%, more than ASMF's 0.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
ASMF Virtus AlphaSimplex Managed Futures ETF	0.20%	0.22%	1.66%	0.00%	0.00%	0.00%	0.00%	0.00%
GXDW Global X Dorsey Wright Thematic ETF	1.24%	1.40%	1.08%	1.99%	1.48%	1.56%	0.48%	0.31%

Frequently Asked Questions

Can I hold both GXDW and ASMF in my portfolio?

GXDW and ASMF have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GXDW or ASMF?

GXDW has higher volatility (13.77%) compared to ASMF (3.45%). In terms of maximum drawdown, GXDW dropped -67.81% vs ASMF's -15.31%.

Which ETF is better, GXDW or ASMF?

On 1-year performance, ASMF leads with 15.63% vs 9.86% for GXDW. On fees, GXDW is cheaper at 0.50% per year. On volatility, ASMF has been the lower-risk option at 3.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GXDW or ASMF?

Over the 1-year period, ASMF has performed better with a 15.63% return vs 9.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GXDW or ASMF?

GXDW is cheaper with a 0.50% expense ratio, compared with 0.80% for ASMF.

Which ETF pays a higher dividend yield, GXDW or ASMF?

GXDW has the higher dividend yield at 1.24%, compared with 0.20% for ASMF.

What is the main difference between GXDW and ASMF?

They also come from different issuers: Global X and Virtus. Their fees differ too: 0.50% for GXDW and 0.80% for ASMF.

Which has better risk-adjusted returns?

ASMF currently has the higher Sharpe Ratio (1.36 vs 0.35), 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.