XLK vs. DBMF

Last updated Jun 13, 2026

XLK (State Street Technology Select Sector SPDR ETF) and DBMF (iMGP DBi Managed Futures Strategy ETF) are both exchange-traded funds - XLK is a Technology Equities fund tracking the S&P Technology Select Sector Daily Capped 35/20 Index, while DBMF is a Systematic Trend fund actively managed by iM Global Partners. XLK is passively managed, while DBMF is actively managed. Over the past 5 years, XLK returned 22.02%/yr vs 8.01%/yr for DBMF. At a 0.16 correlation, their price movements are largely independent. XLK charges 0.08%/yr vs 0.85%/yr for DBMF.

Performance

XLK vs. DBMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in State Street Technology Select Sector SPDR ETF (XLK) and iMGP DBi Managed Futures Strategy ETF (DBMF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XLK achieves a 28.52% return, which is significantly higher than DBMF's 10.27% return.

XLK

• 1D: 0.87%
• 1M: 4.50%
• YTD: 28.52%
• 6M: 28.96%
• 1Y: 53.24%
• 3Y*: 30.28%
• 5Y*: 22.02%
• 10Y*: 25.19%

DBMF

• 1D: 0.26%
• 1M: -0.96%
• YTD: 10.27%
• 6M: 11.24%
• 1Y: 27.33%
• 3Y*: 9.64%
• 5Y*: 8.01%
• 10Y*: —

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

XLK vs. DBMF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
XLK State Street Technology Select Sector SPDR ETF	28.52%	24.61%	21.63%	56.02%	-27.73%	34.74%	43.62%	20.94%
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 XLK and DBMF is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.10
Correlation (All Time) Calculated using the full available price history since May 8, 2019	0.16

The correlation between XLK and DBMF shifts across timeframes, from 0.10 (5 years) to 0.34 (1 year), reflecting how their relationship changes across market environments.

XLK vs. DBMF - Sectors Allocation Comparison

Sectors	XLK	DBMF
Technology	99.7%	29.8%
Energy	0.2%	3.9%
Industrials	0.1%	8.4%
Basic Materials	-	2.2%
Communication Services	-	8.6%
Consumer Cyclical	-	11.0%
Consumer Defensive	-	6.1%
Financial Services	-	12.5%
Healthcare	-	12.7%
Real Estate	-	2.5%
Utilities	-	2.3%

Return for Risk

XLK vs. DBMF — Risk / Return Rank

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

XLK

XLK Risk / Return Rank: 76
XLK Sharpe Ratio Rank: 85
XLK Sortino Ratio Rank: 76
XLK Omega Ratio Rank: 78
XLK Calmar Ratio Rank: 75
XLK Martin Ratio Rank: 68

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.

XLK vs. DBMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for State Street Technology Select Sector SPDR ETF (XLK) 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.

	XLK	DBMF	Difference
Sharpe ratio: Return per unit of total volatility	2.37	2.22	+0.15
Sortino ratio: Return per unit of downside risk	2.92	2.92	0.00
Omega ratio: Gain probability vs. loss probability	1.39	1.47	-0.08
Calmar ratio: Return relative to maximum drawdown	3.36	4.50	-1.14
Martin ratio: Return relative to average drawdown	10.85	16.30	-5.45

XLK vs. DBMF - Sharpe Ratio Comparison

The current XLK Sharpe Ratio is 2.37, which is comparable to the DBMF Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of XLK 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

XLK vs. DBMF - Drawdown Comparison

The maximum XLK drawdown since its inception was -82.05%, which is greater than DBMF's maximum drawdown of -20.39%. Use the drawdown chart below to compare losses from any high point for XLK and DBMF.

Drawdown Indicators

	XLK	DBMF	Difference
Max Drawdown Largest peak-to-trough decline	-82.05%	-20.39%	-61.66%
Max Drawdown (1Y) Largest decline over 1 year	-15.92%	-6.10%	-9.82%
Max Drawdown (3Y) Largest decline over 3 years	-25.66%	-15.60%	-10.06%
Max Drawdown (5Y) Largest decline over 5 years	-33.56%	-20.39%	-13.17%
Max Drawdown (10Y) Largest decline over 10 years	-33.56%	—	—
Current Drawdown Current decline from peak	-6.77%	-1.91%	-4.86%
Average Drawdown Average peak-to-trough decline	-34.93%	-6.56%	-28.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.92%	1.68%	+3.24%

Volatility

XLK vs. DBMF - Volatility Comparison

State Street Technology Select Sector SPDR ETF (XLK) has a higher volatility of 10.86% compared to iMGP DBi Managed Futures Strategy ETF (DBMF) at 2.71%. This indicates that XLK'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

	XLK	DBMF	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.86%	2.71%	+8.15%
Volatility (6M) Calculated over the trailing 6-month period	18.92%	10.00%	+8.92%
Volatility (1Y) Calculated over the trailing 1-year period	22.55%	12.35%	+10.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.18%	12.55%	+12.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.64%	12.41%	+12.23%

XLK vs. DBMF - Expense Ratio Comparison

XLK has a 0.08% expense ratio, which is lower than DBMF's 0.85% expense ratio.

Dividends

XLK vs. DBMF - Dividend Comparison

XLK's dividend yield for the trailing twelve months is around 0.41%, 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%
XLK State Street Technology Select Sector SPDR ETF	0.41%	0.54%	0.66%	0.76%	1.04%	0.65%	0.92%	1.16%	1.60%	1.37%	1.74%	1.79%

Frequently Asked Questions

Can I hold both XLK and DBMF in my portfolio?

XLK and DBMF have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XLK or DBMF?

XLK has higher volatility (10.86%) compared to DBMF (2.71%). In terms of maximum drawdown, XLK dropped -82.05% vs DBMF's -20.39%.

Which ETF is better, XLK or DBMF?

On 5-year performance, XLK leads with 22.02% vs 8.01% for DBMF. On fees, XLK is cheaper at 0.08% 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.

Which ETF has performed better, XLK or DBMF?

Over the 5-year period, XLK has performed better with a 22.02% return vs 8.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XLK or DBMF?

XLK is cheaper with a 0.08% expense ratio, compared with 0.85% for DBMF.

Which ETF pays a higher dividend yield, XLK or DBMF?

DBMF has the higher dividend yield at 5.19%, compared with 0.41% for XLK.

What is the main difference between XLK and DBMF?

XLK is categorized as Technology Equities, while DBMF is Systematic Trend. They also come from different issuers: State Street and iM Global Partners. Their fees differ too: 0.08% for XLK and 0.85% for DBMF.

Which has better risk-adjusted returns?

XLK currently has the higher Sharpe Ratio (2.37 vs 2.22), 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.