HFMF vs. SDMF

Last updated Apr 1, 2026

Compare and contrast key facts about Unlimited HFMF Managed Futures ETF (HFMF) and Simplify DBi CTA Managed Futures Index ETF (SDMF).

HFMF and SDMF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HFMF is an actively managed fund by Unlimited. It was launched on Jul 14, 2025. SDMF is a passively managed fund by Simplify that tracks the performance of the DBi CTA Managed Futures Index. It was launched on Feb 17, 2026.

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.

HFMF vs. SDMF - Yearly Performance Comparison

	2026 (YTD)
HFMF Unlimited HFMF Managed Futures ETF	0.01%
SDMF Simplify DBi CTA Managed Futures Index ETF	0.11%

Returns By Period

HFMF

• 1D: 1.40%
• 1M: -1.69%
• YTD: 11.75%
• 6M: 12.93%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SDMF

• 1D: 1.07%
• 1M: -2.92%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HFMF vs. SDMF - Expense Ratio Comparison

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

HFMF

Unlimited HFMF Managed Futures ETF

SDMF

Simplify DBi CTA Managed Futures Index ETF

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	1.56	0.05	+1.51

Correlation

The correlation between HFMF and SDMF is 0.69, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

HFMF vs. SDMF - Dividend Comparison

HFMF's dividend yield for the trailing twelve months is around 2.66%, while SDMF has not paid dividends to shareholders.

	TTM	2025
HFMF Unlimited HFMF Managed Futures ETF	2.66%	2.97%
SDMF Simplify DBi CTA Managed Futures Index ETF	0.00%	0.00%

Drawdowns

HFMF vs. SDMF - Drawdown Comparison

The maximum HFMF drawdown since its inception was -7.77%, 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	-7.77%	-6.23%	-1.54%
Current Drawdown Current decline from peak	-6.48%	-2.92%	-3.56%
Average Drawdown Average peak-to-trough decline	-1.70%	-2.66%	+0.96%

Volatility

Volatility by Period

	HFMF	SDMF	Difference
Volatility (1Y) Calculated over the trailing 1-year period	17.66%	18.56%	-0.90%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.66%	18.56%	-0.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.66%	18.56%	-0.90%