ISMF vs. SDMF

Last updated Apr 1, 2026

Compare and contrast key facts about iShares Managed Futures Active ETF (ISMF) and Simplify DBi CTA Managed Futures Index ETF (SDMF).

ISMF and SDMF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ISMF is an actively managed fund by iShares. It was launched on Mar 12, 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

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.

ISMF vs. SDMF - Yearly Performance Comparison

	2026 (YTD)
ISMF iShares Managed Futures Active ETF	-1.20%
SDMF Simplify DBi CTA Managed Futures Index ETF	0.11%

Returns By Period

ISMF

• 1D: 0.21%
• 1M: -1.88%
• YTD: 3.84%
• 6M: 9.57%
• 1Y: 15.08%
• 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)

ISMF vs. SDMF - Expense Ratio Comparison

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

ISMF

iShares Managed Futures Active ETF

SDMF

Simplify DBi CTA Managed Futures Index ETF

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: 86
ISMF Sharpe Ratio Rank: 87
ISMF Sortino Ratio Rank: 88
ISMF Omega Ratio Rank: 89
ISMF Calmar Ratio Rank: 93
ISMF Martin Ratio Rank: 74

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.

	ISMF	SDMF	Difference
Sharpe ratio Return per unit of total volatility	1.84	—	—
Sortino ratio Return per unit of downside risk	2.44	—	—
Omega ratio Gain probability vs. loss probability	1.38	—	—
Calmar ratio Return relative to maximum drawdown	3.60	—	—
Martin ratio Return relative to average drawdown	7.89	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	ISMF	SDMF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.84	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.87	0.05	+1.82

Correlation

The correlation between ISMF and SDMF is 0.31, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

ISMF vs. SDMF - Dividend Comparison

ISMF's dividend yield for the trailing twelve months is around 6.00%, while SDMF has not paid dividends to shareholders.

	TTM	2025
ISMF iShares Managed Futures Active ETF	6.00%	6.23%
SDMF Simplify DBi CTA Managed Futures Index ETF	0.00%	0.00%

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	-4.23%	—	—
Current Drawdown Current decline from peak	-2.10%	-2.92%	+0.82%
Average Drawdown Average peak-to-trough decline	-1.41%	-2.66%	+1.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.93%	—	—

Volatility

Volatility by Period

	ISMF	SDMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.90%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.19%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	8.24%	18.56%	-10.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.10%	18.56%	-10.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.10%	18.56%	-10.46%