NFRA vs. DBMF
NFRA (FlexShares STOXX Global Broad Infrastructure Index Fund) and DBMF (iMGP DBi Managed Futures Strategy ETF) are both exchange-traded funds - NFRA is a Utilities Equities fund tracking the STOXX Global Broad Infrastructure Index, while DBMF is a Systematic Trend fund actively managed by iM Global Partners. NFRA is passively managed, while DBMF is actively managed. Over the past 5 years, NFRA returned 5.59%/yr vs 8.01%/yr for DBMF. At a 0.10 correlation, their price movements are largely independent. NFRA charges 0.47%/yr vs 0.85%/yr for DBMF.
Performance
NFRA vs. DBMF - Performance Comparison
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Returns By Period
In the year-to-date period, NFRA achieves a 9.54% return, which is significantly lower than DBMF's 10.27% return.
NFRA
- 1D
- 0.72%
- 1M
- 0.76%
- YTD
- 9.54%
- 6M
- 10.58%
- 1Y
- 14.51%
- 3Y*
- 12.83%
- 5Y*
- 5.59%
- 10Y*
- 7.41%
DBMF
- 1D
- 0.26%
- 1M
- -1.34%
- YTD
- 10.27%
- 6M
- 11.24%
- 1Y
- 26.94%
- 3Y*
- 9.64%
- 5Y*
- 8.01%
- 10Y*
- —
NFRA vs. DBMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund | 9.54% | 18.42% | 4.76% | 8.96% | -10.11% | 9.61% | 2.24% | 11.01% |
DBMF iMGP DBi Managed Futures Strategy ETF | 10.27% | 13.85% | 7.24% | -8.94% | 21.61% | 11.49% | 1.80% | 10.51% |
Correlation
The correlation between NFRA and DBMF is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.26 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since May 8, 2019 | 0.10 |
The correlation between NFRA and DBMF shifts across timeframes, from -0.01 (5 years) to 0.26 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
NFRA vs. DBMF — Risk / Return Rank
NFRA
DBMF
NFRA vs. DBMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FlexShares STOXX Global Broad Infrastructure Index Fund (NFRA) and iMGP DBi Managed Futures Strategy ETF (DBMF). 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.
| NFRA | DBMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.90 | ||
| Sortino ratioReturn per unit of downside risk | -1.01 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.47 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.89 | 4.50 | -2.61 |
| Martin ratioReturn relative to average drawdown | 5.96 | 16.30 | -10.34 |
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Drawdowns
NFRA vs. DBMF - Drawdown Comparison
The maximum NFRA drawdown since its inception was -32.49%, which is greater than DBMF's maximum drawdown of -20.39%. Use the drawdown chart below to compare losses from any high point for NFRA and DBMF.
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Drawdown Indicators
| NFRA | DBMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.49% | -20.39% | -12.10% |
Max Drawdown (1Y)Largest decline over 1 year | -7.28% | -6.10% | -1.18% |
Max Drawdown (3Y)Largest decline over 3 years | -11.15% | -15.60% | +4.45% |
Max Drawdown (5Y)Largest decline over 5 years | -22.75% | -20.39% | -2.36% |
Max Drawdown (10Y)Largest decline over 10 years | -32.49% | — | — |
Current DrawdownCurrent decline from peak | -1.60% | -1.91% | +0.31% |
Average DrawdownAverage peak-to-trough decline | -4.52% | -6.56% | +2.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.32% | 1.68% | +0.64% |
Volatility
NFRA vs. DBMF - Volatility Comparison
FlexShares STOXX Global Broad Infrastructure Index Fund (NFRA) has a higher volatility of 3.19% compared to iMGP DBi Managed Futures Strategy ETF (DBMF) at 2.71%. This indicates that NFRA's price experiences larger fluctuations and is considered to be riskier than DBMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NFRA | DBMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.19% | 2.71% | +0.48% |
Volatility (6M)Calculated over the trailing 6-month period | 8.35% | 10.00% | -1.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.44% | 12.35% | -1.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.99% | 12.55% | +0.44% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.96% | 12.41% | +2.55% |
NFRA vs. DBMF - Expense Ratio Comparison
NFRA has a 0.47% expense ratio, which is lower than DBMF's 0.85% expense ratio.
Dividends
NFRA vs. DBMF - Dividend Comparison
NFRA's dividend yield for the trailing twelve months is around 5.51%, more than DBMF's 5.19% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DBMF iMGP DBi Managed Futures Strategy ETF | 5.19% | 5.91% | 5.75% | 2.91% | 7.72% | 10.38% | 0.86% | 9.35% | 0.00% | 0.00% | 0.00% | 0.00% |
NFRA FlexShares STOXX Global Broad Infrastructure Index Fund | 5.51% | 6.00% | 3.33% | 2.57% | 2.28% | 2.71% | 2.22% | 2.27% | 3.06% | 2.81% | 2.98% | 2.47% |
Frequently Asked Questions
NFRA and DBMF have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NFRA has higher volatility (3.19%) compared to DBMF (2.71%). In terms of maximum drawdown, NFRA dropped -32.49% vs DBMF's -20.39%.
On 5-year performance, DBMF leads with 8.01% vs 5.59% for NFRA. On fees, NFRA is cheaper at 0.47% per year. On volatility, DBMF has been the lower-risk option at 2.71%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DBMF has performed better with a 8.01% return vs 5.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NFRA is cheaper with a 0.47% expense ratio, compared with 0.85% for DBMF.
NFRA has the higher dividend yield at 5.51%, compared with 5.19% for DBMF.
NFRA is categorized as Utilities Equities, while DBMF is Systematic Trend. They also come from different issuers: FlexShares and iM Global Partners. Their fees differ too: 0.47% for NFRA and 0.85% for DBMF.
DBMF currently has the higher Sharpe Ratio (2.22 vs 1.32), 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.
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