ISMF vs. SDMF

Last updated Jun 23, 2026

ISMF (iShares Managed Futures Active ETF) and SDMF (Simplify DBi CTA Managed Futures Index ETF) are both Systematic Trend funds. ISMF is actively managed, while SDMF is passively managed. At a 0.30 correlation, their price movements are largely independent. ISMF charges 0.80%/yr vs 0.35%/yr for SDMF.

Performance

ISMF vs. SDMF - Performance Comparison

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

Returns By Period

ISMF

• 1D: -0.14%
• 1M: -1.11%
• YTD: 6.76%
• 6M: 6.76%
• 1Y: 22.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SDMF

• 1D: -0.01%
• 1M: -0.50%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ISMF vs. SDMF - Yearly Performance Comparison

	2026 (YTD)
ISMF iShares Managed Futures Active ETF	2.71%
SDMF Simplify DBi CTA Managed Futures Index ETF	1.89%

Correlation

The correlation between ISMF and SDMF is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 19, 2026	0.30

Return for Risk

ISMF vs. SDMF — Risk / Return Rank

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

ISMF

ISMF Risk / Return Rank: 90
ISMF Sharpe Ratio Rank: 89
ISMF Sortino Ratio Rank: 88
ISMF Omega Ratio Rank: 92
ISMF Calmar Ratio Rank: 92
ISMF Martin Ratio Rank: 90

SDMF

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

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.

ISMF vs. SDMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Managed Futures Active ETF (ISMF) 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.

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.

	ISMF	SDMF	Difference
Sharpe ratio: Return per unit of total volatility	2.85	—	—
Sortino ratio: Return per unit of downside risk	3.86	—	—
Omega ratio: Gain probability vs. loss probability	1.60	—	—
Calmar ratio: Return relative to maximum drawdown	5.76	—	—
Martin ratio: Return relative to average drawdown	19.42	—	—

Drawdowns

ISMF vs. SDMF - Drawdown Comparison

The maximum ISMF drawdown since its inception was -4.23%, smaller than the maximum SDMF drawdown of -6.23%. Use the drawdown chart below to compare losses from any high point for ISMF and SDMF.

Drawdown Indicators

	ISMF	SDMF	Difference
Max Drawdown Largest peak-to-trough decline	-4.23%	-6.23%	+2.00%
Max Drawdown (1Y) Largest decline over 1 year	-3.94%	—	—
Current Drawdown Current decline from peak	-1.49%	-1.43%	-0.06%
Average Drawdown Average peak-to-trough decline	-1.28%	-2.18%	+0.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.17%	—	—

Volatility

Volatility by Period

	ISMF	SDMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.82%	—	—
Volatility (6M) Calculated over the trailing 6-month period	6.38%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	7.98%	13.04%	-5.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.73%	13.04%	-5.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.73%	13.04%	-5.31%

ISMF vs. SDMF - Expense Ratio Comparison

ISMF has a 0.80% expense ratio, which is higher than SDMF's 0.35% expense ratio.

Dividends

ISMF vs. SDMF - Dividend Comparison

ISMF's dividend yield for the trailing twelve months is around 5.84%, while SDMF has not paid dividends to shareholders.

Position	TTM	2025
ISMF iShares Managed Futures Active ETF	5.84%	6.23%
SDMF Simplify DBi CTA Managed Futures Index ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both ISMF and SDMF in my portfolio?

ISMF and SDMF have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ISMF 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, ISMF or SDMF?

SDMF is cheaper with a 0.35% expense ratio, compared with 0.80% for ISMF.

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

ISMF has the higher dividend yield at 5.84%, compared with 0.00% for SDMF.

What is the main difference between ISMF and SDMF?

They also come from different issuers: iShares and Simplify. Their fees differ too: 0.80% for ISMF and 0.35% for SDMF.