HFMF vs. SDMF

Last updated Jun 4, 2026

HFMF (Unlimited HFMF Managed Futures ETF) and SDMF (Simplify DBi CTA Managed Futures Index ETF) are both Systematic Trend funds. HFMF is actively managed, while SDMF is passively managed. A 0.59 correlation means they provide meaningful diversification when combined. HFMF charges 0.97%/yr vs 0.35%/yr for SDMF.

Performance

HFMF vs. SDMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Unlimited HFMF Managed Futures ETF (HFMF) and Simplify DBi CTA Managed Futures Index ETF (SDMF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

HFMF

• 1D: -0.58%
• 1M: -2.87%
• YTD: 7.67%
• 6M: 8.74%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SDMF

• 1D: 0.09%
• 1M: 2.33%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HFMF vs. SDMF - Yearly Performance Comparison

	2026 (YTD)
HFMF Unlimited HFMF Managed Futures ETF	-3.63%
SDMF Simplify DBi CTA Managed Futures Index ETF	3.37%

Correlation

The correlation between HFMF and SDMF is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 20, 2026	0.59

Return for Risk

HFMF vs. SDMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Unlimited HFMF Managed Futures ETF (HFMF) and Simplify DBi CTA Managed Futures Index ETF (SDMF). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	HFMF	SDMF	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	0.99	0.93	+0.05

Drawdowns

HFMF vs. SDMF - Drawdown Comparison

The maximum HFMF drawdown since its inception was -10.00%, which is greater than SDMF's maximum drawdown of -6.23%. Use the drawdown chart below to compare losses from any high point for HFMF and SDMF.

Drawdown Indicators

	HFMF	SDMF	Difference
Max Drawdown Largest peak-to-trough decline	-10.00%	-6.23%	-3.77%
Current Drawdown Current decline from peak	-9.89%	0.00%	-9.89%
Average Drawdown Average peak-to-trough decline	-2.86%	-2.26%	-0.60%

Volatility

Volatility by Period

	HFMF	SDMF	Difference
Volatility (1Y) Calculated over the trailing 1-year period	16.79%	13.27%	+3.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.79%	13.27%	+3.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.79%	13.27%	+3.52%

HFMF vs. SDMF - Expense Ratio Comparison

HFMF has a 0.97% expense ratio, which is higher than SDMF's 0.35% expense ratio.

Dividends

HFMF vs. SDMF - Dividend Comparison

HFMF's dividend yield for the trailing twelve months is around 2.76%, while SDMF has not paid dividends to shareholders.

Position	TTM	2025
HFMF Unlimited HFMF Managed Futures ETF	2.76%	2.97%
SDMF Simplify DBi CTA Managed Futures Index ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both HFMF and SDMF in my portfolio?

HFMF and SDMF have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HFMF or SDMF?

On fees, SDMF is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HFMF or SDMF?

SDMF is cheaper with a 0.35% expense ratio, compared with 0.97% for HFMF.

Which ETF pays a higher dividend yield, HFMF or SDMF?

HFMF has the higher dividend yield at 2.76%, compared with 0.00% for SDMF.

What is the main difference between HFMF and SDMF?

They also come from different issuers: Unlimited and Simplify. Their fees differ too: 0.97% for HFMF and 0.35% for SDMF.