SDMF vs. HFMF

Last updated Apr 1, 2026

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

SDMF and HFMF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. 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. HFMF is an actively managed fund by Unlimited. It was launched on Jul 14, 2025.

Performance

SDMF vs. HFMF - Performance Comparison

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

SDMF vs. HFMF - Yearly Performance Comparison

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

Returns By Period

SDMF

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

HFMF

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

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

SDMF vs. HFMF - Expense Ratio Comparison

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

HFMF

Unlimited HFMF Managed Futures ETF

SDMF

Simplify DBi CTA Managed Futures Index ETF

Return for Risk

SDMF vs. HFMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Simplify DBi CTA Managed Futures Index ETF (SDMF) and Unlimited HFMF Managed Futures ETF (HFMF). 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

	SDMF	HFMF	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	0.05	1.56	-1.51

Correlation

The correlation between SDMF and HFMF 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

SDMF vs. HFMF - Dividend Comparison

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

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

Drawdowns

SDMF vs. HFMF - Drawdown Comparison

The maximum SDMF drawdown since its inception was -6.23%, smaller than the maximum HFMF drawdown of -7.77%. Use the drawdown chart below to compare losses from any high point for SDMF and HFMF.

Drawdown Indicators

	SDMF	HFMF	Difference
Max Drawdown Largest peak-to-trough decline	-6.23%	-7.77%	+1.54%
Current Drawdown Current decline from peak	-2.92%	-6.48%	+3.56%
Average Drawdown Average peak-to-trough decline	-2.66%	-1.70%	-0.96%

Volatility

Volatility by Period

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