FFUT vs. GXDW

Last updated Aug 4, 2026

FFUT (Fidelity Managed Futures ETF) and GXDW (Global X Dorsey Wright Thematic ETF) are both Systematic Trend funds. FFUT is actively managed, while GXDW is passively managed. Over the past year, FFUT returned 22.59% vs -6.02% for GXDW. Their 0.03 correlation means their historical movements had little consistent relationship. FFUT charges 0.80%/yr vs 0.50%/yr for GXDW.

Performance

FFUT vs. GXDW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Managed Futures ETF (FFUT) and Global X Dorsey Wright Thematic ETF (GXDW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FFUT achieves a 12.52% return, which is significantly higher than GXDW's -1.28% return.

FFUT

• 1D: -0.94%
• 1M: 4.47%
• 6M: 9.16%
• YTD: 12.52%
• 1Y: 22.59%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 18.82%

GXDW

• 1D: 2.16%
• 1M: -6.69%
• 6M: -5.19%
• YTD: -1.28%
• 1Y: -6.02%
• 3Y*: -3.08%
• 5Y*: -13.00%
• 10Y*: —
• ALL TIME*: -0.26%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FFUT Fidelity Managed Futures ETF	$7.87M	$4.04M	$2.05M
GXDW Global X Dorsey Wright Thematic ETF	$113.22K	$106.22K	$200.22K

FFUT vs. GXDW - Yearly Performance Comparison

	2026 (YTD)	2025
FFUT Fidelity Managed Futures ETF	12.52%	8.58%
GXDW Global X Dorsey Wright Thematic ETF	-1.28%	-2.99%

Correlation

The correlation between FFUT and GXDW is 0.01, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.01
Correlation (All Time) Calculated using the full available price history since Jun 5, 2025	0.03

Return for Risk

FFUT vs. GXDW — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FFUT

FFUT Risk / Return Rank: 85
FFUT Sharpe Ratio Rank: 82
FFUT Sortino Ratio Rank: 82
FFUT Omega Ratio Rank: 83
FFUT Calmar Ratio Rank: 91
FFUT Martin Ratio Rank: 88

GXDW

GXDW Risk / Return Rank: 8
GXDW Sharpe Ratio Rank: 8
GXDW Sortino Ratio Rank: 9
GXDW Omega Ratio Rank: 9
GXDW Calmar Ratio Rank: 8
GXDW Martin Ratio Rank: 8

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FFUT vs. GXDW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Managed Futures ETF (FFUT) and Global X Dorsey Wright Thematic ETF (GXDW). 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.

	FFUT	GXDW	Difference
Sharpe ratio: Return per unit of total volatility	1.95	-0.19	+2.14
Sortino ratio: Return per unit of downside risk	2.74	-0.05	+2.80
Omega ratio: Gain probability vs. loss probability	1.37	0.99	+0.37
Calmar ratio: Return relative to maximum drawdown	4.06	-0.21	+4.27
Martin ratio: Return relative to average drawdown	13.81	-0.48	+14.29

FFUT vs. GXDW - Sharpe Ratio Comparison

The current FFUT Sharpe Ratio is 1.95, which is higher than the GXDW Sharpe Ratio of -0.19. The chart below compares the historical Sharpe Ratios of FFUT and GXDW, 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

FFUT vs. GXDW - Drawdown Comparison

The maximum FFUT drawdown since its inception was -5.59%, smaller than the maximum GXDW drawdown of -67.81%. Use the drawdown chart below to compare losses from any high point for FFUT and GXDW.

Drawdown Indicators

	FFUT	GXDW	Difference
Max Drawdown Largest peak-to-trough decline	-5.59%	-67.81%	+62.22%
Max Drawdown (1Y) Largest decline over 1 year	-5.59%	-29.14%	+23.55%
Max Drawdown (3Y) Largest decline over 3 years	—	-29.14%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-61.17%	—
Current Drawdown Current decline from peak	-2.36%	-60.98%	+58.62%
Average Drawdown Average peak-to-trough decline	-1.12%	-43.42%	+42.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.64%	12.65%	-11.01%

Volatility

FFUT vs. GXDW - Volatility Comparison

The current volatility for Fidelity Managed Futures ETF (FFUT) is 3.71%, while Global X Dorsey Wright Thematic ETF (GXDW) has a volatility of 13.40%. This indicates that FFUT experiences smaller price fluctuations and is considered to be less risky than GXDW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFUT	GXDW	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.71%	13.40%	-9.69%
Volatility (6M) Calculated over the trailing 6-month period	9.26%	25.68%	-16.42%
Volatility (1Y) Calculated over the trailing 1-year period	11.66%	31.57%	-19.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.11%	28.75%	-17.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.11%	30.13%	-19.02%

FFUT vs. GXDW - Expense Ratio Comparison

FFUT has a 0.80% expense ratio, which is higher than GXDW's 0.50% expense ratio.

Dividends

FFUT vs. GXDW - Dividend Comparison

FFUT's dividend yield for the trailing twelve months is around 1.86%, more than GXDW's 1.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FFUT Fidelity Managed Futures ETF	1.86%	2.09%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
GXDW Global X Dorsey Wright Thematic ETF	1.52%	1.40%	1.08%	1.99%	1.48%	1.56%	0.48%	0.31%

Frequently Asked Questions

Can I hold both FFUT and GXDW in my portfolio?

FFUT and GXDW have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FFUT or GXDW?

GXDW has higher volatility (13.40%) compared to FFUT (3.71%). In terms of maximum drawdown, FFUT dropped -5.59% vs GXDW's -67.81%.

Which ETF is better, FFUT or GXDW?

On 1-year performance, FFUT leads with 22.59% vs -6.02% for GXDW. On fees, GXDW is cheaper at 0.50% per year. On volatility, FFUT has been the lower-risk option at 3.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FFUT or GXDW?

Over the 1-year period, FFUT has performed better with a 22.59% return vs -6.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FFUT or GXDW?

GXDW is cheaper with a 0.50% expense ratio, compared with 0.80% for FFUT.

Which ETF pays a higher dividend yield, FFUT or GXDW?

FFUT has the higher dividend yield at 1.86%, compared with 1.52% for GXDW.

What is the main difference between FFUT and GXDW?

They also come from different issuers: Fidelity and Global X. Their fees differ too: 0.80% for FFUT and 0.50% for GXDW.

Which has better risk-adjusted returns?

FFUT currently has the higher Sharpe Ratio (1.95 vs -0.19), 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.