VEE.TO vs. DBMF

Last updated Jun 13, 2026

VEE.TO (Vanguard FTSE Emerging Markets All Cap Index ETF) and DBMF (iMGP DBi Managed Futures Strategy ETF) are both exchange-traded funds - VEE.TO is a Emerging Markets Equities fund tracking the FTSE Emerging Markets All Cap China A Inclusion Index, while DBMF is a Systematic Trend fund actively managed by iM Global Partners. VEE.TO is passively managed, while DBMF is actively managed. Over the past 5 years, VEE.TO returned 7.31%/yr vs 11.19%/yr for DBMF. At a 0.13 correlation, their price movements are largely independent. VEE.TO charges 0.25%/yr vs 0.85%/yr for DBMF.

Performance

VEE.TO vs. DBMF - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Vanguard FTSE Emerging Markets All Cap Index ETF (VEE.TO) and iMGP DBi Managed Futures Strategy ETF (DBMF). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

VEE.TO is traded in CAD, while DBMF is traded in USD. To make them comparable, the DBMF values have been converted to CAD using the latest available exchange rates.

Returns By Period

The year-to-date returns for both stocks are quite close, with VEE.TO having a 12.66% return and DBMF slightly lower at 12.62%.

VEE.TO

• 1D: 0.97%
• 1M: 1.13%
• YTD: 12.66%
• 6M: 13.92%
• 1Y: 29.56%
• 3Y*: 17.76%
• 5Y*: 7.31%
• 10Y*: 9.34%

DBMF

• 1D: 0.55%
• 1M: 1.13%
• YTD: 12.62%
• 6M: 12.95%
• 1Y: 30.33%
• 3Y*: 11.32%
• 5Y*: 11.19%
• 10Y*: —

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

VEE.TO vs. DBMF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
VEE.TO Vanguard FTSE Emerging Markets All Cap Index ETF	12.66%	19.32%	19.06%	6.24%	-12.79%	0.06%	12.32%	4.81%
DBMF iMGP DBi Managed Futures Strategy ETF	12.50%	8.65%	16.32%	-11.10%	29.31%	11.44%	-0.61%	7.16%

Correlation

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

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.06
Correlation (All Time) Calculated using the full available price history since May 8, 2019	0.13

The correlation between VEE.TO and DBMF shifts across timeframes, from 0.06 (5 years) to 0.30 (1 year), reflecting how their relationship changes across market environments.

VEE.TO vs. DBMF - Sectors Allocation Comparison

Sectors	VEE.TO	DBMF
Technology	26.3%	29.8%
Financial Services	20.5%	12.5%
Consumer Cyclical	11.2%	11.0%
Basic Materials	8.4%	2.2%
Industrials	7.9%	8.4%
Communication Services	7.8%	8.6%
Energy	4.7%	3.9%
Healthcare	4.1%	12.7%
Consumer Defensive	3.9%	6.1%
Utilities	3.0%	2.3%
Real Estate	2.3%	2.5%

Return for Risk

VEE.TO vs. DBMF — Risk / Return Rank

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

VEE.TO

VEE.TO Risk / Return Rank: 59
VEE.TO Sharpe Ratio Rank: 59
VEE.TO Sortino Ratio Rank: 59
VEE.TO Omega Ratio Rank: 62
VEE.TO Calmar Ratio Rank: 58
VEE.TO Martin Ratio Rank: 59

DBMF

DBMF Risk / Return Rank: 84
DBMF Sharpe Ratio Rank: 81
DBMF Sortino Ratio Rank: 76
DBMF Omega Ratio Rank: 87
DBMF Calmar Ratio Rank: 88
DBMF Martin Ratio Rank: 87

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.

VEE.TO vs. DBMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Emerging Markets All Cap Index ETF (VEE.TO) 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.

	VEE.TO	DBMF	Difference
Sharpe ratio: Return per unit of total volatility	1.72	2.31	-0.58
Sortino ratio: Return per unit of downside risk	2.41	3.06	-0.65
Omega ratio: Gain probability vs. loss probability	1.33	1.44	-0.12
Calmar ratio: Return relative to maximum drawdown	2.56	5.19	-2.63
Martin ratio: Return relative to average drawdown	9.14	19.01	-9.87

VEE.TO vs. DBMF - Sharpe Ratio Comparison

The current VEE.TO Sharpe Ratio is 1.72, which is comparable to the DBMF Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of VEE.TO and DBMF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VEE.TO vs. DBMF - Drawdown Comparison

The maximum VEE.TO drawdown since its inception was -29.84%, which is greater than DBMF's maximum drawdown of -21.87%. Use the drawdown chart below to compare losses from any high point for VEE.TO and DBMF.

Drawdown Indicators

	VEE.TO	DBMF	Difference
Max Drawdown Largest peak-to-trough decline	-29.84%	-21.87%	-7.97%
Max Drawdown (1Y) Largest decline over 1 year	-10.74%	-5.87%	-4.87%
Max Drawdown (3Y) Largest decline over 3 years	-14.97%	-13.28%	-1.69%
Max Drawdown (5Y) Largest decline over 5 years	-26.10%	-21.87%	-4.23%
Max Drawdown (10Y) Largest decline over 10 years	-29.84%	—	—
Current Drawdown Current decline from peak	-1.67%	-0.90%	-0.77%
Average Drawdown Average peak-to-trough decline	-8.72%	-7.44%	-1.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.01%	1.60%	+1.41%

Volatility

VEE.TO vs. DBMF - Volatility Comparison

Vanguard FTSE Emerging Markets All Cap Index ETF (VEE.TO) has a higher volatility of 6.96% compared to iMGP DBi Managed Futures Strategy ETF (DBMF) at 2.96%. This indicates that VEE.TO'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.

Volatility by Period

	VEE.TO	DBMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.96%	2.96%	+4.00%
Volatility (6M) Calculated over the trailing 6-month period	13.66%	10.89%	+2.77%
Volatility (1Y) Calculated over the trailing 1-year period	15.97%	13.21%	+2.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.42%	14.04%	+1.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.01%	14.05%	+2.96%

VEE.TO vs. DBMF - Expense Ratio Comparison

VEE.TO has a 0.25% expense ratio, which is lower than DBMF's 0.85% expense ratio.

Dividends

VEE.TO vs. DBMF - Dividend Comparison

VEE.TO's dividend yield for the trailing twelve months is around 1.93%, less 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%
VEE.TO Vanguard FTSE Emerging Markets All Cap Index ETF	1.93%	2.26%	2.45%	2.83%	3.35%	2.18%	1.62%	2.71%	2.24%	1.93%	2.01%	2.53%

Frequently Asked Questions

Can I hold both VEE.TO and DBMF in my portfolio?

VEE.TO and DBMF 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, VEE.TO or DBMF?

On fees, VEE.TO is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VEE.TO or DBMF?

VEE.TO is cheaper with a 0.25% expense ratio, compared with 0.85% for DBMF.

What is the main difference between VEE.TO and DBMF?

VEE.TO is categorized as Emerging Markets Equities, while DBMF is Systematic Trend. They also come from different issuers: Vanguard and iM Global Partners. Their fees differ too: 0.25% for VEE.TO and 0.85% for DBMF.