Andrew Beer Talks About DBMF’s History and Performance - ETF Database

Managed futures strategies have emerged as a top-performing alternative investment class in 2022, capitalizing on market volatility that has pressured traditional equity and fixed-income portfolios. Within this category, the iMGP DBi Managed Futures Strategy ETF (DBMF) has achieved exceptional prominence, securing the largest inflows of any managed futures ETF with $349.5 million in year-to-date net deposits as of August 16, 2022. The fund's 21.92% year-to-date return underscores investor appetite for liquid alternatives—investment strategies accessible through ETFs, mutual funds, and closed-end funds offering daily liquidity—which have attracted substantial capital this year as advisors and institutional investors seek diversification beyond traditional asset classes.

DBMF's strategy replicates the performance of the 20 largest managed futures hedge funds, which employ systematic trend-following approaches by establishing long and short positions through futures contracts across equities, commodities, currencies, and fixed income. This approach has gained traction in professional portfolios for its ability to generate "crisis alpha"—outperformance during periods of elevated volatility—and its historically low correlation to traditional stocks and bonds. The fund's appeal reflects growing recognition that managed futures can serve as an effective diversification tool during market dislocations, a particularly relevant consideration given 2022's macroeconomic environment.

Andrew Beer, founder and managing member of Dynamic Beta Investments, co-manages DBMF alongside Mathias Mamou-Mani, who serves as co-portfolio manager, head of risk, and managing member at Dynamic Beta Investments. In recent commentary, Beer articulated a philosophy central to the fund's value proposition: fee reduction, rather than manager selection skill, represents the most reliable driver of outperformance. "No one has figured out how to pick which hedge fund's going to do well, just like they haven't figured out how to pick which stock is going to do well," Beer told Forbes. "The most reliable way to outperform is by cutting fees." This positioning suggests DBMF's competitive advantage lies in its cost structure relative to traditional hedge fund allocations, enabling investors to access diversified managed futures exposure without the premium fees characteristic of the hedge fund industry.