FFUT vs. HFMF
FFUT (Fidelity Managed Futures ETF) and HFMF (Unlimited HFMF Managed Futures ETF) are both Systematic Trend funds. Both are actively managed. At a 0.37 correlation, their price movements are largely independent. FFUT charges 0.80%/yr vs 0.97%/yr for HFMF.
Performance
FFUT vs. HFMF - Performance Comparison
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Returns By Period
In the year-to-date period, FFUT achieves a 8.83% return, which is significantly higher than HFMF's 2.96% return.
FFUT
- 1D
- -0.36%
- 1M
- -2.69%
- YTD
- 8.83%
- 6M
- 9.28%
- 1Y
- 18.72%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
HFMF
- 1D
- -0.72%
- 1M
- -6.95%
- YTD
- 2.96%
- 6M
- 0.81%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FFUT vs. HFMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FFUT Fidelity Managed Futures ETF | 8.83% | 6.94% |
HFMF Unlimited HFMF Managed Futures ETF | 2.96% | 6.34% |
Correlation
The correlation between FFUT and HFMF is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jul 15, 2025 | 0.37 |
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Return for Risk
FFUT vs. HFMF — Risk / Return Rank
FFUT
HFMF
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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.
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 | HFMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.32 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 4.35 | — | — |
| Martin ratioReturn relative to average drawdown | 14.55 | — | — |
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Drawdowns
FFUT vs. HFMF - Drawdown Comparison
The maximum FFUT drawdown since its inception was -4.33%, smaller than the maximum HFMF drawdown of -13.84%. Use the drawdown chart below to compare losses from any high point for FFUT and HFMF.
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Drawdown Indicators
| FFUT | HFMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.33% | -13.84% | +9.51% |
Max Drawdown (1Y)Largest decline over 1 year | -4.33% | — | — |
Current DrawdownCurrent decline from peak | -4.33% | -13.84% | +9.51% |
Average DrawdownAverage peak-to-trough decline | -0.96% | -3.35% | +2.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.29% | — | — |
Volatility
FFUT vs. HFMF - Volatility Comparison
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Volatility by Period
| FFUT | HFMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.93% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 8.97% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 11.22% | 16.39% | -5.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.02% | 16.39% | -5.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.02% | 16.39% | -5.37% |
FFUT vs. HFMF - Expense Ratio Comparison
FFUT has a 0.80% expense ratio, which is lower than HFMF's 0.97% expense ratio.
Dividends
FFUT vs. HFMF - Dividend Comparison
FFUT's dividend yield for the trailing twelve months is around 1.92%, less than HFMF's 2.88% yield.
| Position | TTM | 2025 |
|---|---|---|
FFUT Fidelity Managed Futures ETF | 1.92% | 2.09% |
HFMF Unlimited HFMF Managed Futures ETF | 2.88% | 2.97% |
Frequently Asked Questions
FFUT and HFMF have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, FFUT is cheaper at 0.80% per year. The better choice depends on whether you care most about return, fees, risk, or income.
FFUT is cheaper with a 0.80% expense ratio, compared with 0.97% for HFMF.
HFMF has the higher dividend yield at 2.88%, compared with 1.92% for FFUT.
They also come from different issuers: Fidelity and Unlimited. Their fees differ too: 0.80% for FFUT and 0.97% for HFMF.
Find the right allocation for FFUT and HFMF
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