FMF Alternatives & Similar ETFs

First Trust Managed Futures Strategy Fund (FMF) belongs to the Systematic Trend category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with FMF. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Cheapest Alternatives to FMF

FMF charges 0.95% annually. There are 11 ETFs in the Systematic Trend category with lower expense ratios, going as low as 0.35%.

Symbol	Name	Expense Ratio	AUM	Inception
SDMF	Simplify DBi CTA Managed Futures Index ETF	0.35%	36.00M	Feb 2026	FMF vs SDMF
GXDW	Global X Dorsey Wright Thematic ETF	0.50%	6.00M	Oct 2019	FMF vs GXDW
JPFP	JPMorgan Managed Futures Plus ETF	0.59%	33.36M	May 2026	FMF vs JPFP
WTMF	WisdomTree Managed Futures Strategy Fund	0.65%	243.46M	Jan 2011	FMF vs WTMF
IMF	Invesco Managed Futures Strategy ETF	0.65%	—	Mar 2025	FMF vs IMF

Best Risk-Adjusted Alternatives to FMF

FMF has a PortfoliosLab risk / return rank of 71. There are 8 ETFs in the Systematic Trend category with higher risk-adjusted ranks, going as high as 93.

Symbol	Name	Risk / Return Rank	AUM	Inception
ISMF	iShares Managed Futures Active ETF	93	—	Mar 2025	FMF vs ISMF
DBMF	iMGP DBi Managed Futures Strategy ETF	90	1.89B	May 2019	FMF vs DBMF
FFUT	Fidelity Managed Futures ETF	88	246.93M	Jun 2025	FMF vs FFUT
AHLT	American Beacon AHL Trend ETF	88	133.25M	Aug 2023	FMF vs AHLT
WTMF	WisdomTree Managed Futures Strategy Fund	87	243.46M	Jan 2011	FMF vs WTMF

Top Performing FMF Alternatives (YTD)

FMF is at 7.57% YTD. There are 9 ETFs in the Systematic Trend category with higher YTD returns, going as high as 17.76%.

Symbol	Name	YTD Return	AUM	Inception
MFUT	Cambria Chesapeake Pure Trend ETF	17.76%	—	May 2024	FMF vs MFUT
RSST	Return Stacked U.S. Stocks & Managed Futures ETF	14.96%	482.02M	Sep 2023	FMF vs RSST
FFUT	Fidelity Managed Futures ETF	13.58%	246.93M	Jun 2025	FMF vs FFUT
IMF	Invesco Managed Futures Strategy ETF	13.08%	—	Mar 2025	FMF vs IMF
KMLM	KFA Mount Lucas Index Strategy ETF	12.95%	419.76M	Dec 2020	FMF vs KMLM

Lowest Volatility Alternatives to FMF

FMF has 9.56% 1-year volatility. There are 3 ETFs in the Systematic Trend category with lower 1-year volatility, going as low as 7.78%.

Symbol	Name	Volatility 1Y	AUM	Inception
TFFI	Chesapeake Trend-Following Fixed Income ETF	7.78%	36.02M	Feb 2026	FMF vs TFFI
ISMF	iShares Managed Futures Active ETF	8.10%	—	Mar 2025	FMF vs ISMF
WTMF	WisdomTree Managed Futures Strategy Fund	9.13%	243.46M	Jan 2011	FMF vs WTMF
IMF	Invesco Managed Futures Strategy ETF	10.65%	—	Mar 2025	FMF vs IMF
KMLM	KFA Mount Lucas Index Strategy ETF	11.49%	419.76M	Dec 2020	FMF vs KMLM

Lowest Drawdown Alternatives to FMF

FMF has a 1-year max drawdown of -4.51%. There are 2 ETFs in the Systematic Trend category with shallower 1-year drawdowns, going as shallow as -3.94%.

Symbol	Name	Max Drawdown 1Y	AUM	Inception
ISMF	iShares Managed Futures Active ETF	-3.94%	—	Mar 2025	FMF vs ISMF
WTMF	WisdomTree Managed Futures Strategy Fund	-4.04%	243.46M	Jan 2011	FMF vs WTMF
IMF	Invesco Managed Futures Strategy ETF	-4.54%	—	Mar 2025	FMF vs IMF
ASMF	Virtus AlphaSimplex Managed Futures ETF	-5.02%	29.42M	May 2024	FMF vs ASMF
FFUT	Fidelity Managed Futures ETF	-5.59%	246.93M	Jun 2025	FMF vs FFUT

Other ETFs from First Trust

The 10 most viewed First Trust ETFs shown here include CIBR, GRID, AIRR and span 16 categories. AUM among these funds goes as high as $25B.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
CIBR	First Trust NASDAQ Cybersecurity ETF	Cybersecurity, Technology Equities	39	28.86%	14.31B	Jul 2015	FMF vs CIBR
GRID	First Trust NASDAQ Clean Edge Smart Grid Infrastru...	Infrastructure Equities, Alternative Energy Equities, Energy Equities	49	17.75%	11.67B	Nov 2009	FMF vs GRID
AIRR	First Trust RBA American Industrial Renaissance ET...	Building & Construction	54	19.12%	10.18B	Mar 2014	FMF vs AIRR
NFTY	First Trust India NIFTY 50 Equal Weight ETF	India Equities, Equal Weight, Asia Pacific Equities	8	-5.91%	118.19M	Feb 2012	FMF vs NFTY
FDL	First Trust Morningstar Dividend Leaders Index Fun...	Large Cap Value Equities, Dividend	92	18.16%	7.77B	Mar 2006	FMF vs FDL
IGLD	FT Vest Gold Strategy Target Income ETF	Gold, Derivative Income, Precious Metals	25	-6.56%	514.13M	Mar 2021	FMF vs IGLD
FTXL	First Trust Nasdaq Semiconductor ETF	Semiconductors, Technology Equities	91	67.20%	1.27B	Sep 2016	FMF vs FTXL
TDIV	First Trust NASDAQ Technology Dividend Index Fund	Technology Equities, Dividend	43	14.88%	4.18B	Aug 2012	FMF vs TDIV
QCLN	First Trust NASDAQ Clean Edge Green Energy Index F...	Alternative Energy Equities, Energy Equities	39	10.48%	586.61M	Feb 2007	FMF vs QCLN
RDVY	First Trust Rising Dividend Achievers ETF	Dividend, Large Cap Blend Equities	85	17.25%	24.89B	Jan 2014	FMF vs RDVY

Often Compared With FMF

Investors most often compare FMF with FTLS, FLRT, CTA. These 20 comparison targets span 22 categories, based on PortfoliosLab usage data.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
FTLS	First Trust Long/Short Equity ETF	Long-Short	75	6.03%	2.49B	Sep 2014	FMF vs FTLS
FLRT	Pacer Aristotle Pacific Floating Rate High Income ...	Bank Loan	91	2.39%	652.88M	Feb 2015	FMF vs FLRT
CTA	Simplify Managed Futures Strategy ETF	Systematic Trend	15	2.94%	1.56B	Mar 2022	FMF vs CTA
QQQ	Invesco QQQ ETF	Nasdaq-100	49	12.26%	452.80B	Mar 1999	FMF vs QQQ
GLD	SPDR Gold Shares	Gold, Precious Metals	30	-6.25%	130.32B	Nov 2004	FMF vs GLD
SPY	State Street SPDR S&P 500 ETF	S&P 500	67	10.13%	789.06B	Jan 1993	FMF vs SPY
JDJIX	JHancock Diversified Macro Fund	Multistrategy	24	10.22%	—	Jul 2019	FMF vs JDJIX
QMHIX	AQR Managed Futures Strategy HV Fund	Systematic Trend	82	12.49%	—	Jul 2013	FMF vs QMHIX
PFIX	Simplify Interest Rate Hedge ETF	Inverse Bonds, Nontraditional Bonds	13	10.66%	182.81M	May 2021	FMF vs PFIX
ARB	AltShares Merger Arbitrage ETF	Event Driven	52	1.85%	90.93M	May 2020	FMF vs ARB
RPAR	RPAR Risk Parity ETF	Global Allocation, Diversified Portfolio	43	2.65%	574.06M	Dec 2019	FMF vs RPAR
RYLD	Global X Russell 2000 Covered Call ETF	Derivative Income, Small Cap Blend Equities	90	12.29%	1.37B	Apr 2019	FMF vs RYLD
MNA	IQ Merger Arbitrage ETF	Event Driven	40	2.05%	251.39M	Nov 2009	FMF vs MNA
MRSK	Agility Shares Managed Risk ETF	Equity Hedged	57	5.79%	320.77M	Jun 2020	FMF vs MRSK
FVC	First Trust Dorsey Wright Dynamic Focus 5 ETF	Momentum, Tactical Allocation	33	10.27%	104.15M	Mar 2016	FMF vs FVC
DBEF	Xtrackers MSCI EAFE Hedged Equity ETF	Foreign Large Cap Equities	85	14.22%	9.16B	Jun 2011	FMF vs DBEF
ROMO	Strategy Shares Newfound/ReSolve Robust Momentum E...	Momentum, Tactical Allocation	46	6.82%	25.56M	Nov 2019	FMF vs ROMO
RLY	State Street Multi-Asset Real Return ETF	Global Allocation, Inflation-Protected Bonds, Commodities	91	15.77%	1.27B	Apr 2012	FMF vs RLY
VMOT	Alpha Architect Value Momentum Trend ETF	Momentum, Global Equities	77	13.65%	22.05M	May 2017	FMF vs VMOT
RSBT	Return Stacked Bonds & Managed Futures ETF	Nontraditional Bonds	74	4.41%	137.91M	Feb 2023	FMF vs RSBT

Compare FMF with Any Fund or Stock

Compare FMF with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.

Symbol name

Diversifiers

Pair FMF with funds that move differently

First Trust Managed Futures Strategy Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to FMF.

Explore FMF Diversifiers

First Trust Managed Futures Strategy Fund (FMF) Alternatives