iMGP DBI Managed Futures Strategy ETF
Actively managed U.S. alternative ETF
As of its 2026 Q2 report, iMGP DBI Managed Futures Strategy ETF held 18 positions with $3.89B in net assets. Its ten largest holdings made up 81.9% of the fund. The DBMF share class costs 0.85% a year. Over the 12 months to May 2026, DBMF returned 29.8%, with dividends reinvested. In 2026 Q2 it added 17 new positions and exited 16.
The iMGP DBi Managed Futures Strategy ETF (the Fund) seeks long-term capital appreciation.
The fund employs a managed futures strategy using long and short positions in futures and forward contracts across equities, fixed income, and currencies, with commodity exposure obtained through a wholly-owned Cayman Islands subsidiary; a proprietary quantitative model determines positions by analyzing the recent performance of large commodity trading hedge fund managers to approximate their estimated asset allocation. Day-to-day investment decisions are delegated to the sub-adviser Dynamic Beta Investments, which relies exclusively on the model and has no discretion to override its allocations. The fund may hold up to 20% of assets in the subsidiary and typically holds short-duration debt securities to collateralize derivatives and provide liquidity. Because the fund's positions depend on the model's analysis of a trailing 60-day performance window, the fund's asset allocation and returns will diverge from those of the target managers it seeks to approximate.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
United States Treasury | 52.68% | $2.05B | — |
United States Treasury | 12.49% | $485.75M | — |
United States Treasury | 8.00% | $310.89M | — |
Fixed Income Clearing Corp. | 3.33% | $129.38M | — |
United States Treasury | 1.28% | $49.68M | — |
United States Treasury | 1.15% | $44.74M | — |
United States Treasury | 0.95% | $36.89M | — |
Chicago Mercantile Exchange | 0.81% | $31.48M | — |
United States Treasury | 0.71% | $27.78M | — |
ICE Futures U.S., Inc. | 0.48% | $18.54M | — |
All 18 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Cash & short-term | 80.59% |
| Derivatives | 1.76% |
These positions come to 82.35% of net assets. Not everything a fund owns is reported as a holding — uninvested cash is collected at fund level instead — so the total is not expected to reach 100%.
Derivatives are shown at market value, not notional exposure.
How it has done
DBMF share class · total returns with dividends reinvested
Volatility over the last 12 months: 10.21%. Past returns are a record, not a forecast.
Jun 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Fees & fund details
iMGP DBI Managed Futures Strategy ETF is an actively managed U.S. alternative ETF.
- Asset class
- Alternative
- Region
- United States
- Management
- Actively managed
- Fund type
- ETF
- Expense ratio, by class
- 0.85%· DBMF 0.85%
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
17 new· the largest 2
16 exited· the largest 3
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
This fund filed the credit-spread disclosure and reported no sensitivity — measured, and the answer is none.
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.42 yr | 100% |
1 yr and 5 yr and 10 yr and 30 yr are NEGATIVE (-1.56 yr, -2.14 yr, -1.56 yr, -0.30 yr) — a deliberate hedge at that point on the curve, so they are not part of the band above.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.42 | +0.00 | +0.00 | $0 | $0 |
| 1 yr | -1.56 | +0.00 | +0.00 | $0 | $0 |
| 5 yr | -2.14 | +0.00 | +0.00 | $0 | $0 |
| 10 yr | -1.56 | +0.00 | +0.00 | $0 | $0 |
| 30 yr | -0.30 | +0.00 | +0.00 | $0 | $0 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Understand how this fund fits with the rest.
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