FFLS vs. MKTN

Last updated Jun 24, 2026

FFLS (The Future Fund Long/Short ETF) and MKTN (Federated Hermes MDT Market Neutral ETF) are both Long-Short funds. Both are actively managed. At a correlation of -0.06, they often move in opposite directions.

Performance

FFLS vs. MKTN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in The Future Fund Long/Short ETF (FFLS) and Federated Hermes MDT Market Neutral ETF (MKTN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FFLS achieves a -2.39% return, which is significantly lower than MKTN's 0.14% return.

FFLS

• 1D: -0.79%
• 1M: -0.64%
• YTD: -2.39%
• 6M: -2.29%
• 1Y: -2.63%
• 3Y*: 8.23%
• 5Y*: —
• 10Y*: —

MKTN

• 1D: 0.31%
• 1M: -0.11%
• YTD: 0.14%
• 6M: 0.27%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

FFLS vs. MKTN - Yearly Performance Comparison

	2026 (YTD)	2025
FFLS The Future Fund Long/Short ETF	-2.39%	-3.36%
MKTN Federated Hermes MDT Market Neutral ETF	0.14%	3.22%

Correlation

The correlation between FFLS and MKTN is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 25, 2025	-0.06

Return for Risk

FFLS vs. MKTN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FFLS

FFLS Risk / Return Rank: 6
FFLS Sharpe Ratio Rank: 6
FFLS Sortino Ratio Rank: 6
FFLS Omega Ratio Rank: 6
FFLS Calmar Ratio Rank: 7
FFLS Martin Ratio Rank: 7

MKTN

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FFLS vs. MKTN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for The Future Fund Long/Short ETF (FFLS) and Federated Hermes MDT Market Neutral ETF (MKTN). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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	MKTN	Difference
Sharpe ratio: Return per unit of total volatility	-0.27	—	—
Sortino ratio: Return per unit of downside risk	-0.32	—	—
Omega ratio: Gain probability vs. loss probability	0.96	—	—
Calmar ratio: Return relative to maximum drawdown	-0.24	—	—
Martin ratio: Return relative to average drawdown	-0.50	—	—

Drawdowns

FFLS vs. MKTN - Drawdown Comparison

The maximum FFLS drawdown since its inception was -11.05%, which is greater than MKTN's maximum drawdown of -4.13%. Use the drawdown chart below to compare losses from any high point for FFLS and MKTN.

Drawdown Indicators

	FFLS	MKTN	Difference
Max Drawdown Largest peak-to-trough decline	-11.05%	-4.13%	-6.92%
Max Drawdown (1Y) Largest decline over 1 year	-11.05%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-11.05%	—	—
Current Drawdown Current decline from peak	-6.99%	-1.76%	-5.23%
Average Drawdown Average peak-to-trough decline	-3.17%	-1.20%	-1.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.30%	—	—

Volatility

Volatility by Period

	FFLS	MKTN	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.42%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.92%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	9.68%	6.74%	+2.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.40%	6.74%	+4.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.40%	6.74%	+4.66%

Dividends

FFLS vs. MKTN - Dividend Comparison

FFLS's dividend yield for the trailing twelve months is around 6.74%, more than MKTN's 0.51% yield.

Position	TTM	2025	2024
FFLS The Future Fund Long/Short ETF	6.74%	6.58%	3.34%
MKTN Federated Hermes MDT Market Neutral ETF	0.51%	0.51%	0.00%

Frequently Asked Questions

Can I hold both FFLS and MKTN in my portfolio?

FFLS and MKTN have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF pays a higher dividend yield, FFLS or MKTN?

FFLS has the higher dividend yield at 6.74%, compared with 0.51% for MKTN.

What is the main difference between FFLS and MKTN?

They also come from different issuers: The Future Fund and Federated Hermes.