FFND vs. ILCB

Last updated Jul 15, 2026

FFND (The Future Fund Active ETF) and ILCB (iShares Morningstar U.S. Equity ETF) are both Large Cap Growth Equities funds. FFND is actively managed, while ILCB is passively managed. Over the past 3 years, FFND returned 18.64%/yr vs 20.46%/yr for ILCB. Their correlation of 0.88 suggests significant overlap in exposure. FFND charges 1.00%/yr vs 0.03%/yr for ILCB.

Performance

FFND vs. ILCB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in The Future Fund Active ETF (FFND) and iShares Morningstar U.S. Equity ETF (ILCB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FFND achieves a 8.05% return, which is significantly lower than ILCB's 11.03% return.

FFND

• 1D: 0.54%
• 1M: 1.79%
• 6M: 4.71%
• YTD: 8.05%
• 1Y: 17.08%
• 3Y*: 18.64%
• 5Y*: —
• 10Y*: —

ILCB

• 1D: 0.44%
• 1M: 1.73%
• 6M: 9.12%
• YTD: 11.03%
• 1Y: 21.63%
• 3Y*: 20.46%
• 5Y*: 12.71%
• 10Y*: 14.56%

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

FFND vs. ILCB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FFND The Future Fund Active ETF	8.05%	19.38%	24.05%	40.05%	-39.84%	-3.43%
ILCB iShares Morningstar U.S. Equity ETF	11.03%	17.70%	24.96%	26.91%	-19.48%	5.83%

Correlation

The correlation between FFND and ILCB is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (All Time) Calculated using the full available price history since Aug 24, 2021	0.88

The correlation between FFND and ILCB has been stable across timeframes, ranging from 0.88 to 0.90 - a consistent structural relationship.

FFND vs. ILCB - Sectors Allocation Comparison

Sectors	FFND	ILCB
Technology	30.4%	37.9%
Industrials	14.0%	8.4%
Consumer Cyclical	13.2%	9.4%
Healthcare	12.0%	9.0%
Financial Services	11.7%	11.7%
Communication Services	9.1%	9.8%
Consumer Defensive	3.9%	4.4%
Utilities	1.8%	2.6%
Energy	1.5%	3.1%
Basic Materials	1.4%	1.8%
Real Estate	1.1%	1.7%

Return for Risk

FFND vs. ILCB — Risk / Return Rank

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

FFND

FFND Risk / Return Rank: 45
FFND Sharpe Ratio Rank: 45
FFND Sortino Ratio Rank: 45
FFND Omega Ratio Rank: 44
FFND Calmar Ratio Rank: 40
FFND Martin Ratio Rank: 51

ILCB

ILCB Risk / Return Rank: 65
ILCB Sharpe Ratio Rank: 66
ILCB Sortino Ratio Rank: 64
ILCB Omega Ratio Rank: 64
ILCB Calmar Ratio Rank: 60
ILCB Martin Ratio Rank: 72

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.

FFND vs. ILCB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for The Future Fund Active ETF (FFND) and iShares Morningstar U.S. Equity ETF (ILCB). 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.

	FFND	ILCB	Difference
Sharpe ratio: Return per unit of total volatility	1.28	1.71	-0.43
Sortino ratio: Return per unit of downside risk	1.87	2.37	-0.50
Omega ratio: Gain probability vs. loss probability	1.23	1.31	-0.07
Calmar ratio: Return relative to maximum drawdown	1.63	2.39	-0.76
Martin ratio: Return relative to average drawdown	6.99	10.34	-3.35

FFND vs. ILCB - Sharpe Ratio Comparison

The current FFND Sharpe Ratio is 1.28, which is comparable to the ILCB Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of FFND and ILCB, 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

FFND vs. ILCB - Drawdown Comparison

The maximum FFND drawdown since its inception was -47.84%, smaller than the maximum ILCB drawdown of -51.53%. Use the drawdown chart below to compare losses from any high point for FFND and ILCB.

Drawdown Indicators

	FFND	ILCB	Difference
Max Drawdown Largest peak-to-trough decline	-47.84%	-51.53%	+3.69%
Max Drawdown (1Y) Largest decline over 1 year	-10.53%	-9.09%	-1.44%
Max Drawdown (3Y) Largest decline over 3 years	-18.90%	-19.05%	+0.15%
Max Drawdown (5Y) Largest decline over 5 years	—	-25.47%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.30%	—
Current Drawdown Current decline from peak	-1.48%	-0.75%	-0.73%
Average Drawdown Average peak-to-trough decline	-18.39%	-6.22%	-12.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.45%	2.10%	+0.35%

Volatility

FFND vs. ILCB - Volatility Comparison

The current volatility for The Future Fund Active ETF (FFND) is 3.38%, while iShares Morningstar U.S. Equity ETF (ILCB) has a volatility of 3.84%. This indicates that FFND experiences smaller price fluctuations and is considered to be less risky than ILCB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFND	ILCB	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.38%	3.84%	-0.46%
Volatility (6M) Calculated over the trailing 6-month period	10.96%	10.08%	+0.88%
Volatility (1Y) Calculated over the trailing 1-year period	13.38%	12.67%	+0.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.87%	17.24%	+7.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.87%	18.17%	+6.70%

FFND vs. ILCB - Expense Ratio Comparison

FFND has a 1.00% expense ratio, which is higher than ILCB's 0.03% expense ratio.

Dividends

FFND vs. ILCB - Dividend Comparison

FFND's dividend yield for the trailing twelve months is around 0.60%, less than ILCB's 0.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FFND The Future Fund Active ETF	0.60%	0.65%	0.00%	0.00%	0.00%	0.03%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ILCB iShares Morningstar U.S. Equity ETF	0.98%	1.11%	1.19%	1.43%	1.65%	1.16%	1.26%	2.25%	2.17%	1.81%	1.97%	2.44%

Frequently Asked Questions

Can I hold both FFND and ILCB in my portfolio?

With a correlation of 0.90, FFND and ILCB move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FFND or ILCB?

ILCB has higher volatility (3.84%) compared to FFND (3.38%). In terms of maximum drawdown, FFND dropped -47.84% vs ILCB's -51.53%.

Which ETF is better, FFND or ILCB?

On 3-year performance, ILCB leads with 20.46% vs 18.64% for FFND. On fees, ILCB is cheaper at 0.03% per year. On volatility, FFND has been the lower-risk option at 3.38%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FFND or ILCB?

Over the 3-year period, ILCB has performed better with a 20.46% return vs 18.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FFND or ILCB?

ILCB is cheaper with a 0.03% expense ratio, compared with 1.00% for FFND.

Which ETF pays a higher dividend yield, FFND or ILCB?

ILCB has the higher dividend yield at 0.98%, compared with 0.60% for FFND.

What is the main difference between FFND and ILCB?

They also come from different issuers: The Future Fund and iShares. Their fees differ too: 1.00% for FFND and 0.03% for ILCB.

Which has better risk-adjusted returns?

ILCB currently has the higher Sharpe Ratio (1.71 vs 1.28), 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.