DBMF seeks to replicate the pre-fee performance of leading managed futures hedge funds and outperform through fee/expense disintermediation.
Morning Star Rating
★ ★ ★ ★ Overall Morningstar Rating™
DBMF: Four Star Overall Morningstar Rating™ as of September 30, 2025 out of 62 US ETF Systematic Trend Funds based on risk adjusted returns.
Investment Objective
The fund seeks long-term capital appreciation. The fund will employ long and short positions in derivatives, primarily futures contracts and forward contracts, across the broad asset classes of equities, fixed income, currencies and commodities.
One Stop ETF Hedge Fund Diversifier
At 85 bps flat fee
Isolates Alpha From Core Factor Rotations
Across commodities, rates, currencies and equities
Minimizes Key Hedge Fund Risks
Single manager, high fees consume alpha
Due Diligence Toolkit
DBMF
$1,511,530,000.00
56170L828
USD $28.9
US53700T8273
05/07/2019
Managed Futures
Active Managed Futures ETF
0.85%
State Street Bank
Alps Distributors
NYSE Arca
iM Global Partner
Dynamic Beta investments
1099
Quarterly (Ordinary Income), Annual (Capital Gains)
Virtu
iMGP DBi Managed Futures Strategy ETF Value of Hypothetical $10,000
The value of a hypothetical $10,000 investment in the iMGP DBi Managed Futures Strategy ETF compared with the
iMGP DBi Managed Futures Strategy ETF (Price), Bloomberg US Aggregate Bond Index, Morningstar Systematic Trend Category, SG CTA Index.
- Growth of Investment
- Annualized
- Calendar Year
* The hypothetical $10,000 investment at fund inception includes changes due to share price and reinvestment of dividends and capital gains. The chart does not imply future performance. Indexes are unmanaged, do not incur fees, expenses or taxes, and cannot be invested in directly.
Performance quoted does not include a deduction for taxes that a shareholder would pay on the redemption of fund shares.
Performance data quoted represents past performance. Past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the fund may be lower or higher than the performance quoted. Performance data current to the most recent month end may be obtained by calling 888-898-1041.
Short term performance, in particular, is not a good indication of the fund’s future performance, and an investment should not be made based solely on returns.
All of the assets and liabilities of the Predecessor Fund were transferred to the Fund in a reorganization on 09/20/2021.
Shares of any ETF are bought and sold at market price (not NAV), may trade at a discount or premium to NAV and are not individually redeemed from the Fund. Brokerage commissions will reduce returns.
SG CTA Index:The SG CTA Index is an index published by Société Générale that is designed to reflect the performance of a pool of Commodity Trading Advisor (CTAs) selected from larger managers that employ systematic managed futures strategies. The index is reconstituted annually.
| Date | Security Name | CUSIP | Ticker | Shares Qty | Market Value | Weight |
| 11/26/2025 | JPN YEN CURR FUT DEC25 | 56170L828 | JYZ5 | -21,288,750 | $ -1,368,866,625.00 | -0.7 |
| 11/26/2025 | WTI CRUDEFUTURE FEB26 | 56170L828 | CLG6 | -1,542,000 | $ -89,035,080.00 | -0.05 |
| 11/26/2025 | MSCI EAFEDEC25 | 56170L828 | MFSZ5 | 36,250 | $ 100,807,625.00 | 0.05 |
| 11/26/2025 | S+P500 EMINI FUT DEC25 | 56170L828 | ESZ5 | 16,050 | $ 108,843,075.00 | 0.06 |
| 11/26/2025 | GOLD 100 OZ FUTR FEB26 | 56170L828 | GCG6 | 65,400 | $ 273,195,420.00 | 0.14 |
| 11/26/2025 | US LONG BOND(CBT) MAR26 | 56170L828 | USH6 | 346,700,000 | $ 408,022,562.50 | 0.21 |
| 11/26/2025 | MSCI EMGMKT DEC25 | 56170L828 | MESZ5 | 310,900 | $ 424,596,130.00 | 0.22 |
| 11/26/2025 | EURO FX CURR FUT DEC25 | 56170L828 | ECZ5 | 421,250,000 | $ 488,481,500.00 | 0.25 |
| 11/26/2025 | TREASURY BILL | 56170L828 | - | 571,000,000 | $ 569,149,600.27 | 0.29 |
| 11/26/2025 | US 10YR NOTE (CBT)MAR26 | 56170L828 | TYH6 | 630,000,000 | $ 715,640,625.00 | 0.37 |
| 11/26/2025 | TREASURY BILL | 56170L828 | - | 973,000,000 | $ 969,471,824.16 | 0.49 |
| 11/26/2025 | US 2YR NOTE (CBT) MAR26 | 56170L828 | TUH6 | 1,205,000,000 | $ 1,259,366,213.95 | 0.64 |
| 11/26/2025 | TOTAL NET ASSETS | 56170L828 | - | - | $ 1,960,614,036.22 | - |
* Fund holdings and/or sector allocations are subject to change at any time and are not recommendations to buy or sell any security.
Net Assets of the Fund (11/26/2025) $1,987,607,160
Shares Outstanding (11/26/2025) 68,775,000
Last Market Price (11/26/2025) $28.93
Change in Last Market Price (11/26/2025) $0.16
Premium/Discount (11/26/2025) 0.03
30-Day Median Bid-Ask Spread (11/26/2025) 0.04
Volatility 11.43%
Sharpe 0.43
Max Drawdown -17.17%
Correlation to SG CTA 0.87
Alpha to SG CTA 2.80%
Beta to S&P500 -0.08
Management Fee
0.85%
Distribution and/or Service (12B-1) Fees
0.00%
Other Expenses
0.00%
Acquired Fund Expenses
0.00%
Total Fees
0.85%
Disclosure:
The Fund’s investment objectives, risks, charges, and expenses must be considered carefully before investing. The statutory and summary prospectuses contain this and other important information about the investment company, and it may be obtained by calling 800-960-0188 or visiting www.imgpfunds.com. Read it carefully before investing.
iMGP DBi Managed Futures Strategy ETF Risks: Investing involves risk. Principal loss is possible.
Leverage may cause the effect of an increase or decrease in the value of the portfolio securities to be magnified and the fund to be more volatile than if leverage was not used.
The Fund should be considered highly leveraged and is suitable only for investors with high tolerance for investment risk. Futures contracts and forward contracts can be highly volatile, illiquid and difficult to value, and changes in the value of such instruments held directly or indirectly by the Fund may not correlate with the underlying instrument or reference assets, or the Fund’s other investments. Derivative instruments and futures contracts are subject to occasional rapid and substantial fluctuations. Taking a short position on a derivative instrument or security involves the risk of a theoretically unlimited increase in the value of the underlying instrument. Exposure to the commodities markets may subject the Fund to greater volatility than investments in traditional securities. Exposure to foreign currencies subjects the Fund to the risk that those currencies will change in value relative to the U.S. Dollar. By investing in the Subsidiary, the Fund is indirectly exposed to the risks associated with the Subsidiary’s investments. Fixed income securities, or derivatives based on fixed income securities, are subject to credit risk and interest rate risk.
A commission may apply when buying or selling an ETF.
The Morningstar Rating for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed products monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five, and 10-year (if applicable) Morningstar Rating metrics. The weights are 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10 year overall rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. iMGP DBi Managed Futures Strategy ETF (DBMF) was rated against the following numbers of U.S. Systematic Trend funds over the following time periods as of 9/30/2025: 62 funds in the last 3 years, and 60 funds in the last 5 years. With respect to these U.S. Systematic Trend funds, iMGP DBi Managed Futures Strategy ETF (DBMF) received an overall Morningstar Rating of 4 stars for the time period 9/30/2025.
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Diversification does not assure a profit nor protect against loss in a declining market.
Index Definitions | Industry Terms and Definitions
The iMGP DBi Managed Futures Strategy ETF is distributed by ALPS Distributors, Inc.





