XSP.TO vs. DBMF
XSP.TO (iShares Core S&P 500 Index ETF (CAD-Hedged)) and DBMF (iMGP DBi Managed Futures Strategy ETF) are both exchange-traded funds - XSP.TO is a S&P 500 fund tracking the S&P 500 Index, while DBMF is a Systematic Trend fund actively managed by iM Global Partners. XSP.TO is passively managed, while DBMF is actively managed. Over the past 5 years, XSP.TO returned 11.07%/yr vs 11.17%/yr for DBMF. At a 0.13 correlation, their price movements are largely independent. XSP.TO charges 0.09%/yr vs 0.85%/yr for DBMF.
Performance
XSP.TO vs. DBMF - Performance Comparison
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Different Trading Currencies
XSP.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
In the year-to-date period, XSP.TO achieves a 7.74% return, which is significantly lower than DBMF's 12.50% return.
XSP.TO
- 1D
- 0.50%
- 1M
- -1.00%
- YTD
- 7.74%
- 6M
- 7.98%
- 1Y
- 23.01%
- 3Y*
- 18.82%
- 5Y*
- 11.07%
- 10Y*
- 13.40%
DBMF
- 1D
- 0.44%
- 1M
- 0.58%
- YTD
- 12.50%
- 6M
- 12.83%
- 1Y
- 30.45%
- 3Y*
- 11.28%
- 5Y*
- 11.17%
- 10Y*
- —
XSP.TO vs. DBMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
XSP.TO iShares Core S&P 500 Index ETF (CAD-Hedged) | 7.74% | 15.68% | 23.39% | 24.33% | -19.32% | 24.27% | 15.16% | 12.46% |
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 XSP.TO and DBMF is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.19 |
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 XSP.TO and DBMF shifts across timeframes, from 0.06 (5 years) to 0.29 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
XSP.TO vs. DBMF — Risk / Return Rank
XSP.TO
DBMF
XSP.TO vs. DBMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P 500 Index ETF (CAD-Hedged) (XSP.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.
| XSP.TO | DBMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.53 | ||
| Sortino ratioReturn per unit of downside risk | -0.62 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.44 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.30 | 5.17 | -2.87 |
| Martin ratioReturn relative to average drawdown | 10.35 | 18.92 | -8.58 |
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Drawdowns
XSP.TO vs. DBMF - Drawdown Comparison
The maximum XSP.TO drawdown since its inception was -57.71%, which is greater than DBMF's maximum drawdown of -21.87%. Use the drawdown chart below to compare losses from any high point for XSP.TO and DBMF.
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Drawdown Indicators
| XSP.TO | DBMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.71% | -21.87% | -35.84% |
Max Drawdown (1Y)Largest decline over 1 year | -9.41% | -5.87% | -3.54% |
Max Drawdown (3Y)Largest decline over 3 years | -18.77% | -13.28% | -5.49% |
Max Drawdown (5Y)Largest decline over 5 years | -27.51% | -21.87% | -5.64% |
Max Drawdown (10Y)Largest decline over 10 years | -36.05% | — | — |
Current DrawdownCurrent decline from peak | -2.45% | -1.00% | -1.45% |
Average DrawdownAverage peak-to-trough decline | -9.46% | -7.44% | -2.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.09% | 1.60% | +0.49% |
Volatility
XSP.TO vs. DBMF - Volatility Comparison
iShares Core S&P 500 Index ETF (CAD-Hedged) (XSP.TO) has a higher volatility of 4.61% compared to iMGP DBi Managed Futures Strategy ETF (DBMF) at 2.95%. This indicates that XSP.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.
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Volatility by Period
| XSP.TO | DBMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.61% | 2.95% | +1.66% |
Volatility (6M)Calculated over the trailing 6-month period | 9.66% | 10.89% | -1.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.22% | 13.21% | -0.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.87% | 14.04% | +2.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.24% | 14.05% | +4.19% |
XSP.TO vs. DBMF - Expense Ratio Comparison
XSP.TO has a 0.09% expense ratio, which is lower than DBMF's 0.85% expense ratio.
Dividends
XSP.TO vs. DBMF - Dividend Comparison
XSP.TO's dividend yield for the trailing twelve months is around 1.14%, 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% |
XSP.TO iShares Core S&P 500 Index ETF (CAD-Hedged) | 1.14% | 1.23% | 1.09% | 1.18% | 1.37% | 1.01% | 1.31% | 1.73% | 1.86% | 1.45% | 1.76% | 1.88% |
Frequently Asked Questions
XSP.TO and DBMF have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, XSP.TO is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
XSP.TO is cheaper with a 0.09% expense ratio, compared with 0.85% for DBMF.
XSP.TO is categorized as S&P 500, while DBMF is Systematic Trend. They also come from different issuers: iShares and iM Global Partners. Their fees differ too: 0.09% for XSP.TO and 0.85% for DBMF.
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