FFUT vs. ISMF
FFUT (Fidelity Managed Futures ETF) and ISMF (iShares Managed Futures Active ETF) are both Systematic Trend funds. Both are actively managed. Over the past year, FFUT returned 18.91% vs 22.62% for ISMF. At a 0.32 correlation, their price movements are largely independent. Both charge a 0.80% expense ratio.
Performance
FFUT vs. ISMF - Performance Comparison
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Returns By Period
In the year-to-date period, FFUT achieves a 9.23% return, which is significantly higher than ISMF's 6.76% return.
FFUT
- 1D
- -0.52%
- 1M
- -2.34%
- YTD
- 9.23%
- 6M
- 9.36%
- 1Y
- 18.91%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ISMF
- 1D
- -0.14%
- 1M
- -1.11%
- YTD
- 6.76%
- 6M
- 6.76%
- 1Y
- 22.62%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FFUT vs. ISMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FFUT Fidelity Managed Futures ETF | 9.23% | 8.58% |
ISMF iShares Managed Futures Active ETF | 6.76% | 12.91% |
Correlation
The correlation between FFUT and ISMF is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.32 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2025 | 0.32 |
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Return for Risk
FFUT vs. ISMF — Risk / Return Rank
FFUT
ISMF
FFUT vs. ISMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Managed Futures ETF (FFUT) and iShares Managed Futures Active ETF (ISMF). 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 | ISMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.16 | ||
| Sortino ratioReturn per unit of downside risk | -1.44 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.60 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 4.77 | 5.76 | -1.00 |
| Martin ratioReturn relative to average drawdown | 15.04 | 19.42 | -4.38 |
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Drawdowns
FFUT vs. ISMF - Drawdown Comparison
The maximum FFUT drawdown since its inception was -3.98%, smaller than the maximum ISMF drawdown of -4.23%. Use the drawdown chart below to compare losses from any high point for FFUT and ISMF.
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Drawdown Indicators
| FFUT | ISMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.98% | -4.23% | +0.25% |
Max Drawdown (1Y)Largest decline over 1 year | -3.98% | -3.94% | -0.04% |
Current DrawdownCurrent decline from peak | -3.98% | -1.49% | -2.49% |
Average DrawdownAverage peak-to-trough decline | -0.94% | -1.28% | +0.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.26% | 1.17% | +0.09% |
Volatility
FFUT vs. ISMF - Volatility Comparison
Fidelity Managed Futures ETF (FFUT) has a higher volatility of 2.92% compared to iShares Managed Futures Active ETF (ISMF) at 1.82%. This indicates that FFUT's price experiences larger fluctuations and is considered to be riskier than ISMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FFUT | ISMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.92% | 1.82% | +1.10% |
Volatility (6M)Calculated over the trailing 6-month period | 8.96% | 6.38% | +2.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.23% | 7.98% | +3.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.03% | 7.73% | +3.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.03% | 7.73% | +3.30% |
FFUT vs. ISMF - Expense Ratio Comparison
Both FFUT and ISMF have an expense ratio of 0.80%.
Dividends
FFUT vs. ISMF - Dividend Comparison
FFUT's dividend yield for the trailing twelve months is around 1.91%, less than ISMF's 5.84% yield.
| Position | TTM | 2025 |
|---|---|---|
FFUT Fidelity Managed Futures ETF | 1.91% | 2.09% |
ISMF iShares Managed Futures Active ETF | 5.84% | 6.23% |
Frequently Asked Questions
FFUT and ISMF have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FFUT has higher volatility (2.92%) compared to ISMF (1.82%). In terms of maximum drawdown, FFUT dropped -3.98% vs ISMF's -4.23%.
On 1-year performance, ISMF leads with 22.62% vs 18.91% for FFUT. Both ETFs have the same 0.80% expense ratio. On volatility, ISMF has been the lower-risk option at 1.82%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, ISMF has performed better with a 22.62% return vs 18.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FFUT and ISMF have the same expense ratio: 0.80% per year.
ISMF has the higher dividend yield at 5.84%, compared with 1.91% for FFUT.
They also come from different issuers: Fidelity and iShares.
ISMF currently has the higher Sharpe Ratio (2.85 vs 1.69), 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.
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