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iMGP DBi MANAGED FUTURES STRATEGY ETF DBMF

DBMF seeks to replicate the pre-fee performance of leading managed futures hedge funds and outperform through fee/expense disintermediation.

 Overall Morningstar Rating™ "DBMF: Four Star Overall Morningstar RatingTM among 68 Systematic Trend funds based on risk-adjusted return for the period ending 9/30/2022.i"

Overview

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.

DUE DILIGENCE TOOLKIT

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

NET ASSET VALUE

31.08

As of 12/06/2022

1 DAY NAV CHANGE

-0.09 (-0.29%)

As of 12/06/2022

YTD RETURN

22.23%

As of 12/06/2022

TOTAL EXPENSE RATIO

0.85%

Managers

Dynamic Beta investments (DBi)

image of fund manager

Andrew Beer

Founder and Managing Member of Dynamic Beta investments
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25 years of experience in the hedge fund business since joining the Baupost Group, Inc., one of the world’s premier hedge fund firms, as a portfolio manager.
In 2003, Andrew founded Pinnacle Asset Management, a leading commodity investment firm with approximately $3 billion under management today and recipient of numerous industry awards.
He was also a founder of Apex Capital Management, one of the first institutional-quality hedge funds focused on the Greater China region that peaked at approximately $1.5 billion in assets prior to the financial crisis.
Andrew holds a MBA from Harvard Business School as a Baker Scholar and his BA degree with high honors from Harvard College.

image of fund manager

Mathias Mamou-Mani

Managing Member of Dynamic Beta investments
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15+ years of experience in asset management including 6 years at Dynamic Beta investments overseeing quantitative research including proprietary replication and liquid solution models, risk systems, and trade implementation.
From 2001 to 2006, Mathias worked as a consultant/project manager on critical information systems projects for the French Ministry of Defense, France Telecom, and Lafarge.
Mathias holds a MBA from the NYU Stern School of Business, with a specialization in Quantitative Finance, and degrees from the University of Paris Dauphine, France.

The New-York based team of Dynamic Beta investments (DBi) has over a decade of proprietary research into the drivers of hedge fund performance. The firm is an innovator in the liquid alternative space with its first factor based product launched in May 2007.

*Beta strategies are index-based investment strategies that seek to generate superior risk-adjusted returns through transparent quantitative techniques and rules-based criteria which are based on specific factors or attributes that drive investment returns.

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Fund Data

 

Premium/Discount Chart as of 09/30/2022

Premium Discount Managed Futures Strategy

 

Portfolio Holdings

  • To view our most recent portfolio holdings, please click here.

Fund holdings and/or sector allocations are subject to change at any time and are not recommendations to buy or sell any security.

Performance

The value of a hypothetical $10,000 investment in the iMGP DBi Managed Futures ETF compared with the SG CTA Index and Morningstar US Systematic Trend Category.

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.

Select the set of performance tables to view.

AVERAGE ANNUAL TOTAL RETURN

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.

Related

Stay Informed

iMGP Funds emails provide investors a way to stay in touch with us and receive information regarding the funds and investment principles in general. Topics may include updates on the funds and managers, further insights into our investment team’s processes, and commentary on various aspects of investing.

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.partnerselectfunds.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.

Index Definitions | Industry Terms and Definitions

i – 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 9/30/2022: 68 funds in the last three years. With respect to these U.S. Systematic Trend funds, iMGP DBi Managed Futures Strategy ETF (DBMF) received a Morningstar Rating of 4 stars.

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The iMGP DBi Managed Futures Strategy ETF is distributed by ALPS Distributors, Inc.