- Issuer
- The Future Fund
- Inception Date
- Jun 20, 2023
- Category
- Long-Short
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Growth
- Assets Under Management
- $42M
Share Price Chart
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Performance
FFLS Performance Chart
The Future Fund Long/Short ETF (FFLS) is down 1.6% since the beginning of the year. FFLS is currently trading at $23 per share.
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Returns By Period
The Future Fund Long/Short ETF (FFLS) has returned -1.61% so far this year and -1.79% over the past 12 months.
The Future Fund Long/Short ETF
- 1D
- -0.67%
- 1M
- 0.15%
- YTD
- -1.61%
- 6M
- -1.34%
- 1Y
- -1.79%
- 3Y*
- 8.51%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
FFLS Monthly Returns History
Based on dividend-adjusted daily data since Jun 21, 2023, FFLS's average daily return is +0.03%, while the average monthly return is +0.65%. At this rate, an investment would double in approximately 8.9 years.
Historically, 57% of months were positive and 43% were negative. The best month was Feb 2024 with a return of +7.8%, while the worst month was Oct 2023 at -4.8%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 3 months.
On a daily basis, FFLS closed higher 51% of trading days. The best single day was Apr 9, 2025 with a return of +2.4%, while the worst single day was Sep 3, 2024 at -2.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.06% | -4.08% | -2.66% | 3.34% | 2.21% | -1.28% | -1.61% | ||||||
| 2025 | 3.61% | 1.95% | -3.97% | 2.01% | 3.21% | 2.99% | 0.91% | 0.23% | -0.82% | -0.65% | -2.40% | 0.47% | 7.49% |
| 2024 | -0.43% | 7.76% | 3.65% | -0.66% | 3.11% | 0.87% | -1.97% | -0.32% | 0.57% | 1.55% | 2.79% | -0.14% | 17.71% |
| 2023 | -1.25% | -0.84% | 1.08% | -2.24% | -4.75% | 6.48% | 2.70% | 0.79% |
Benchmark Metrics
The Future Fund Long/Short ETF has an annualized alpha of -1.59%, beta of 0.52, and R2 of 0.47 versus S&P 500 Index. Calculated based on daily prices since June 21, 2023.
- This ETF participated in 44.09% of S&P 500 Index downside but only 36.67% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.52 may look defensive, but with R2 of 0.47 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.47 means the benchmark explains less than half of this ETF's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- -1.59%
- Beta
- 0.52
- R²
- 0.47
- Upside Capture
- 36.67%
- Downside Capture
- 44.09%
Expense Ratio
FFLS has a high expense ratio of 1.75%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
FFLS ranks 7 for risk / return — in the bottom 7% of ETFs on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for The Future Fund Long/Short ETF (FFLS) and compare them to S&P 500 Index.
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.
| FFLS | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.22 | ||
| Sortino ratioReturn per unit of downside risk | -2.95 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.37 | -0.39 |
| Calmar ratioReturn relative to maximum drawdown | -0.16 | 2.78 | -2.95 |
| Martin ratioReturn relative to average drawdown | -0.34 | 12.44 | -12.78 |
Dividends
Dividend History
The Future Fund Long/Short ETF provided a 6.68% dividend yield over the last twelve months, with an annual payout of $1.53 per share.
| Period | TTM | 2025 | 2024 |
|---|---|---|---|
| Dividend | $1.53 | $1.53 | $0.77 |
Dividend yield | 6.68% | 6.58% | 3.34% |
Monthly Dividends
The table displays the monthly dividend distributions for The Future Fund Long/Short ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.53 | $1.53 |
| 2024 | $0.77 | $0.77 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the The Future Fund Long/Short ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the The Future Fund Long/Short ETF was 11.05%, occurring on Mar 30, 2026. The portfolio has not yet recovered.
The current The Future Fund Long/Short ETF drawdown is 6.25%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 correction2026 | -11.05%Mar 2026 | 6mo 14d | — | 9mo 9dSep 2025 - now |
2024 correction2024 | -10.36%Aug 2024 | 27d | 3mo 2d | 3mo 29dJul 2024 - Nov 2024 |
2023 pullback2023 | -9.39%Oct 2023 | 1mo 15d | 2mo | 3mo 15dSep 2023 - Dec 2023 |
2025 selloff2025 | -8.73%Apr 2025 | 1mo 14d | 2mo 1d | 3mo 15dFeb 2025 - Jun 2025 |
2023 pullback2023 | -8.60%Aug 2023 | 1mo | 24d | 1mo 24dJul 2023 - Sep 2023 |
Drawdown Indicators
| FFLS | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.05% | -56.78% | +45.73% |
Max Drawdown (1Y)Largest decline over 1 year | -11.05% | -9.10% | -1.95% |
Max Drawdown (3Y)Largest decline over 3 years | -11.05% | -18.90% | +7.85% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -6.25% | -1.80% | -4.45% |
Average DrawdownAverage peak-to-trough decline | -3.16% | -10.71% | +7.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.28% | 2.03% | +3.25% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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