PFIX vs. DBMF
PFIX (Simplify Interest Rate Hedge ETF) and DBMF (iMGP DBi Managed Futures Strategy ETF) are both exchange-traded funds - PFIX is a Inverse Bonds fund actively managed by Simplify, while DBMF is a Systematic Trend fund actively managed by iMGP. Both are actively managed. Over the past 5 years, PFIX returned 22.46%/yr vs 8.28%/yr for DBMF. Their 0.25 correlation means their historical movements had little consistent relationship. PFIX charges 0.50%/yr vs 0.85%/yr for DBMF.
Performance
PFIX vs. DBMF - Performance Comparison
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Returns By Period
In the year-to-date period, PFIX achieves a 7.38% return, which is significantly lower than DBMF's 10.90% return.
PFIX
- 1D
- 2.32%
- 1M
- 17.13%
- 6M
- 10.24%
- YTD
- 7.38%
- 1Y
- -2.54%
- 3Y*
- 17.55%
- 5Y*
- 22.46%
- 10Y*
- —
- ALL TIME*
- 16.63%
DBMF
- 1D
- -0.61%
- 1M
- 0.75%
- 6M
- 3.08%
- YTD
- 10.90%
- 1Y
- 27.12%
- 3Y*
- 9.24%
- 5Y*
- 8.28%
- 10Y*
- —
- ALL TIME*
- 9.13%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $54.82M | $50.25M | $49.72M | |
| $5.18M | $5.68M | $17.00M |
PFIX vs. DBMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
PFIX Simplify Interest Rate Hedge ETF | 7.38% | 0.42% | 35.94% | 5.67% | 92.05% | -24.98% |
DBMF iMGP DBi Managed Futures Strategy ETF | 10.90% | 13.85% | 7.24% | -8.94% | 21.61% | -0.12% |
Correlation
The correlation between PFIX and DBMF is -0.02, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.02 |
Correlation (3Y) Balances recent behavior with more history. | 0.19 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.26 |
Correlation (All Time) Calculated using the full available price history since May 11, 2021 | 0.25 |
The correlation between PFIX and DBMF shifts across timeframes, from -0.02 (1 year) to 0.26 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
PFIX vs. DBMF — Risk / Return Rank
PFIX
DBMF
PFIX vs. DBMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Simplify Interest Rate Hedge ETF (PFIX) 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.
| PFIX | DBMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.24 | ||
| Sortino ratioReturn per unit of downside risk | -2.75 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.44 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | -0.11 | 4.46 | -4.57 |
| Martin ratioReturn relative to average drawdown | -0.17 | 15.20 | -15.37 |
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Drawdowns
PFIX vs. DBMF - Drawdown Comparison
The maximum PFIX drawdown since its inception was -36.17%, which is greater than DBMF's maximum drawdown of -20.39%. Use the drawdown chart below to compare losses from any high point for PFIX and DBMF.
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Drawdown Indicators
| PFIX | DBMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.17% | -20.39% | -15.78% |
Max Drawdown (1Y)Largest decline over 1 year | -23.71% | -6.10% | -17.61% |
Max Drawdown (3Y)Largest decline over 3 years | -36.17% | -15.60% | -20.57% |
Max Drawdown (5Y)Largest decline over 5 years | -36.17% | -20.39% | -15.78% |
Current DrawdownCurrent decline from peak | -11.47% | -2.06% | -9.41% |
Average DrawdownAverage peak-to-trough decline | -17.20% | -6.48% | -10.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.44% | 1.79% | +13.65% |
Volatility
PFIX vs. DBMF - Volatility Comparison
Simplify Interest Rate Hedge ETF (PFIX) has a higher volatility of 7.53% compared to iMGP DBi Managed Futures Strategy ETF (DBMF) at 2.33%. This indicates that PFIX'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
| PFIX | DBMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.53% | 2.33% | +5.20% |
Volatility (6M)Calculated over the trailing 6-month period | 21.75% | 9.81% | +11.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.15% | 12.70% | +16.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.60% | 12.44% | +26.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 38.12% | 12.36% | +25.76% |
PFIX vs. DBMF - Expense Ratio Comparison
PFIX has a 0.50% expense ratio, which is lower than DBMF's 0.85% expense ratio.
Dividends
PFIX vs. DBMF - Dividend Comparison
PFIX's dividend yield for the trailing twelve months is around 8.06%, more than DBMF's 5.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
DBMF iMGP DBi Managed Futures Strategy ETF | 5.13% | 5.91% | 5.75% | 2.91% | 7.72% | 10.38% | 0.86% | 9.35% |
PFIX Simplify Interest Rate Hedge ETF | 8.06% | 9.92% | 3.40% | 87.92% | 0.63% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PFIX and DBMF have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PFIX has higher volatility (7.53%) compared to DBMF (2.33%). In terms of maximum drawdown, PFIX dropped -36.17% vs DBMF's -20.39%.
On 5-year performance, PFIX leads with 22.46% vs 8.28% for DBMF. On fees, PFIX is cheaper at 0.50% per year. On volatility, DBMF has been the lower-risk option at 2.33%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, PFIX has performed better with a 22.46% return vs 8.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PFIX is cheaper with a 0.50% expense ratio, compared with 0.85% for DBMF.
PFIX has the higher dividend yield at 8.06%, compared with 5.13% for DBMF.
PFIX is categorized as Inverse Bonds, while DBMF is Systematic Trend. They also come from different issuers: Simplify and iMGP. Their fees differ too: 0.50% for PFIX and 0.85% for DBMF.
DBMF currently has the higher Sharpe Ratio (2.15 vs -0.09), 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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