FFLS vs. RSEE

Last updated Jun 24, 2026

FFLS (The Future Fund Long/Short ETF) and RSEE (Rareview Systematic Equity ETF) are both Long-Short funds. Both are actively managed. Over the past 3 years, FFLS returned 8.23%/yr vs 17.96%/yr for RSEE. A 0.59 correlation means they provide meaningful diversification when combined. FFLS charges 1.75%/yr vs 1.27%/yr for RSEE.

Performance

FFLS vs. RSEE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in The Future Fund Long/Short ETF (FFLS) and Rareview Systematic Equity ETF (RSEE). 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 RSEE's 12.65% return.

FFLS

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

RSEE

• 1D: -2.89%
• 1M: -0.47%
• YTD: 12.65%
• 6M: 11.67%
• 1Y: 32.53%
• 3Y*: 17.96%
• 5Y*: —
• 10Y*: —

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

FFLS vs. RSEE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FFLS The Future Fund Long/Short ETF	-2.39%	7.49%	17.71%	0.79%
RSEE Rareview Systematic Equity ETF	12.65%	20.54%	18.54%	-0.29%

Correlation

The correlation between FFLS and RSEE is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (All Time) Calculated using the full available price history since Jun 21, 2023	0.59

The correlation between FFLS and RSEE has been stable across timeframes, ranging from 0.51 to 0.59 - a consistent structural relationship.

FFLS vs. RSEE - Sectors Allocation Comparison

Sectors	FFLS	RSEE
Technology	17.7%	32.5%
Industrials	14.8%	11.1%
Healthcare	10.2%	7.3%
Communication Services	6.4%	8.7%
Energy	4.8%	3.6%
Real Estate	2.6%	2.3%
Consumer Cyclical	2.3%	9.9%
Consumer Defensive	1.6%	5.1%
Basic Materials	-	4.0%
Utilities	-	2.5%
Financial Services	-7.7%	13.1%

Return for Risk

FFLS vs. RSEE — 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

RSEE

RSEE Risk / Return Rank: 56
RSEE Sharpe Ratio Rank: 56
RSEE Sortino Ratio Rank: 53
RSEE Omega Ratio Rank: 53
RSEE Calmar Ratio Rank: 55
RSEE Martin Ratio Rank: 62

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. RSEE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for The Future Fund Long/Short ETF (FFLS) and Rareview Systematic Equity ETF (RSEE). 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	RSEE	Difference
Sharpe ratio: Return per unit of total volatility	-0.27	1.74	-2.01
Sortino ratio: Return per unit of downside risk	-0.32	2.36	-2.67
Omega ratio: Gain probability vs. loss probability	0.96	1.31	-0.34
Calmar ratio: Return relative to maximum drawdown	-0.24	2.54	-2.77
Martin ratio: Return relative to average drawdown	-0.50	10.23	-10.73

FFLS vs. RSEE - Sharpe Ratio Comparison

The current FFLS Sharpe Ratio is -0.27, which is lower than the RSEE Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of FFLS and RSEE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FFLS vs. RSEE - Drawdown Comparison

The maximum FFLS drawdown since its inception was -11.05%, smaller than the maximum RSEE drawdown of -21.60%. Use the drawdown chart below to compare losses from any high point for FFLS and RSEE.

Drawdown Indicators

	FFLS	RSEE	Difference
Max Drawdown Largest peak-to-trough decline	-11.05%	-21.60%	+10.55%
Max Drawdown (1Y) Largest decline over 1 year	-11.05%	-12.89%	+1.84%
Max Drawdown (3Y) Largest decline over 3 years	-11.05%	-21.60%	+10.55%
Current Drawdown Current decline from peak	-6.99%	-3.77%	-3.22%
Average Drawdown Average peak-to-trough decline	-3.17%	-3.77%	+0.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.30%	3.19%	+2.11%

Volatility

FFLS vs. RSEE - Volatility Comparison

The current volatility for The Future Fund Long/Short ETF (FFLS) is 4.42%, while Rareview Systematic Equity ETF (RSEE) has a volatility of 8.04%. This indicates that FFLS experiences smaller price fluctuations and is considered to be less risky than RSEE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFLS	RSEE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.42%	8.04%	-3.62%
Volatility (6M) Calculated over the trailing 6-month period	7.92%	15.53%	-7.61%
Volatility (1Y) Calculated over the trailing 1-year period	9.68%	18.84%	-9.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.40%	19.22%	-7.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.40%	19.22%	-7.82%

FFLS vs. RSEE - Expense Ratio Comparison

FFLS has a 1.75% expense ratio, which is higher than RSEE's 1.27% expense ratio.

Dividends

FFLS vs. RSEE - Dividend Comparison

FFLS's dividend yield for the trailing twelve months is around 6.74%, while RSEE has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
FFLS The Future Fund Long/Short ETF	6.74%	6.58%	3.34%	0.00%	0.00%
RSEE Rareview Systematic Equity ETF	0.00%	0.24%	9.02%	0.84%	1.97%

Frequently Asked Questions

Can I hold both FFLS and RSEE in my portfolio?

FFLS and RSEE have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FFLS or RSEE?

RSEE has higher volatility (8.04%) compared to FFLS (4.42%). In terms of maximum drawdown, FFLS dropped -11.05% vs RSEE's -21.60%.

Which ETF is better, FFLS or RSEE?

On 3-year performance, RSEE leads with 17.96% vs 8.23% for FFLS. On fees, RSEE is cheaper at 1.27% per year. On volatility, FFLS has been the lower-risk option at 4.42%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FFLS or RSEE?

Over the 3-year period, RSEE has performed better with a 17.96% return vs 8.23%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FFLS or RSEE?

RSEE is cheaper with a 1.27% expense ratio, compared with 1.75% for FFLS.

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

FFLS has the higher dividend yield at 6.74%, compared with 0.00% for RSEE.

What is the main difference between FFLS and RSEE?

They also come from different issuers: The Future Fund and Rareview Funds. Their fees differ too: 1.75% for FFLS and 1.27% for RSEE.

Which has better risk-adjusted returns?

RSEE currently has the higher Sharpe Ratio (1.74 vs -0.27), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.