FFUT vs. HFMF

Last updated Apr 2, 2026

Compare and contrast key facts about Fidelity Managed Futures ETF (FFUT) and Unlimited HFMF Managed Futures ETF (HFMF).

FFUT and HFMF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FFUT is an actively managed fund by Fidelity. It was launched on Jun 3, 2025. HFMF is an actively managed fund by Unlimited. It was launched on Jul 14, 2025.

Performance

FFUT vs. HFMF - Performance Comparison

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

FFUT vs. HFMF - Yearly Performance Comparison

	2026 (YTD)	2025
FFUT Fidelity Managed Futures ETF	7.30%	7.80%
HFMF Unlimited HFMF Managed Futures ETF	12.13%	6.34%

Returns By Period

In the year-to-date period, FFUT achieves a 7.30% return, which is significantly lower than HFMF's 12.13% return.

FFUT

• 1D: -0.11%
• 1M: 1.91%
• YTD: 7.30%
• 6M: 11.63%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HFMF

• 1D: 0.34%
• 1M: -2.22%
• YTD: 12.13%
• 6M: 13.05%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FFUT vs. HFMF - Expense Ratio Comparison

FFUT has a 0.80% expense ratio, which is lower than HFMF's 0.97% expense ratio.

HFMF

Unlimited HFMF Managed Futures ETF

FFUT

Fidelity Managed Futures ETF

Return for Risk

FFUT vs. HFMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Managed Futures ETF (FFUT) and Unlimited HFMF Managed Futures ETF (HFMF). 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.

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

Sharpe Ratios by Period

	FFUT	HFMF	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.84	1.59	+0.24

Correlation

The correlation between FFUT and HFMF is 0.31, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

FFUT vs. HFMF - Dividend Comparison

FFUT's dividend yield for the trailing twelve months is around 1.95%, less than HFMF's 2.65% yield.

	TTM	2025
FFUT Fidelity Managed Futures ETF	1.95%	2.09%
HFMF Unlimited HFMF Managed Futures ETF	2.65%	2.97%

Drawdowns

FFUT vs. HFMF - Drawdown Comparison

The maximum FFUT drawdown since its inception was -2.84%, smaller than the maximum HFMF drawdown of -7.77%. Use the drawdown chart below to compare losses from any high point for FFUT and HFMF.

Drawdown Indicators

	FFUT	HFMF	Difference
Max Drawdown Largest peak-to-trough decline	-2.84%	-7.77%	+4.93%
Current Drawdown Current decline from peak	-1.70%	-6.16%	+4.46%
Average Drawdown Average peak-to-trough decline	-0.89%	-1.73%	+0.84%

Volatility

Volatility by Period

	FFUT	HFMF	Difference
Volatility (1Y) Calculated over the trailing 1-year period	10.99%	17.61%	-6.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.99%	17.61%	-6.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.99%	17.61%	-6.62%