FFUT vs. MBSD

Last updated Jun 24, 2026

FFUT (Fidelity Managed Futures ETF) and MBSD (FlexShares Disciplined Duration MBS Index Fund) are both exchange-traded funds - FFUT is a Systematic Trend fund actively managed by Fidelity, while MBSD is a Mortgage Backed Securities fund tracking the ICE BofA Constrained Duration US Mortgage Backed Securities. FFUT is actively managed, while MBSD is passively managed. Over the past year, FFUT returned 18.72% vs 4.57% for MBSD. At a correlation of -0.32, they often move in opposite directions. FFUT charges 0.80%/yr vs 0.20%/yr for MBSD.

Performance

FFUT vs. MBSD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Managed Futures ETF (FFUT) and FlexShares Disciplined Duration MBS Index Fund (MBSD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FFUT achieves a 8.83% return, which is significantly higher than MBSD's 0.60% return.

FFUT

• 1D: -0.36%
• 1M: -2.69%
• YTD: 8.83%
• 6M: 9.28%
• 1Y: 18.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MBSD

• 1D: 0.09%
• 1M: 0.45%
• YTD: 0.60%
• 6M: 0.67%
• 1Y: 4.57%
• 3Y*: 4.26%
• 5Y*: 0.72%
• 10Y*: 1.38%

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

FFUT vs. MBSD - Yearly Performance Comparison

	2026 (YTD)	2025
FFUT Fidelity Managed Futures ETF	8.83%	8.58%
MBSD FlexShares Disciplined Duration MBS Index Fund	0.60%	4.25%

Correlation

The correlation between FFUT and MBSD is -0.32, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	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

Return for Risk

FFUT vs. MBSD — Risk / Return Rank

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

FFUT

FFUT Risk / Return Rank: 64
FFUT Sharpe Ratio Rank: 51
FFUT Sortino Ratio Rank: 51
FFUT Omega Ratio Rank: 54
FFUT Calmar Ratio Rank: 84
FFUT Martin Ratio Rank: 79

MBSD

MBSD Risk / Return Rank: 40
MBSD Sharpe Ratio Rank: 39
MBSD Sortino Ratio Rank: 40
MBSD Omega Ratio Rank: 37
MBSD Calmar Ratio Rank: 45
MBSD Martin Ratio Rank: 41

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.

FFUT vs. MBSD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Managed Futures ETF (FFUT) and FlexShares Disciplined Duration MBS Index Fund (MBSD). 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	MBSD	Difference
Sharpe ratio: Return per unit of total volatility	1.68	1.31	+0.36
Sortino ratio: Return per unit of downside risk	2.40	1.93	+0.46
Omega ratio: Gain probability vs. loss probability	1.32	1.23	+0.09
Calmar ratio: Return relative to maximum drawdown	4.35	2.11	+2.24
Martin ratio: Return relative to average drawdown	14.55	6.31	+8.24

FFUT vs. MBSD - Sharpe Ratio Comparison

The current FFUT Sharpe Ratio is 1.68, which is comparable to the MBSD Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of FFUT and MBSD, 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. MBSD - Drawdown Comparison

The maximum FFUT drawdown since its inception was -4.33%, smaller than the maximum MBSD drawdown of -14.36%. Use the drawdown chart below to compare losses from any high point for FFUT and MBSD.

Drawdown Indicators

	FFUT	MBSD	Difference
Max Drawdown Largest peak-to-trough decline	-4.33%	-14.36%	+10.03%
Max Drawdown (1Y) Largest decline over 1 year	-4.33%	-2.17%	-2.16%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.68%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-14.10%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-14.36%	—
Current Drawdown Current decline from peak	-4.33%	-1.02%	-3.31%
Average Drawdown Average peak-to-trough decline	-0.96%	-2.81%	+1.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.29%	0.72%	+0.57%

Volatility

FFUT vs. MBSD - Volatility Comparison

Fidelity Managed Futures ETF (FFUT) has a higher volatility of 2.93% compared to FlexShares Disciplined Duration MBS Index Fund (MBSD) at 0.97%. This indicates that FFUT's price experiences larger fluctuations and is considered to be riskier than MBSD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFUT	MBSD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.93%	0.97%	+1.96%
Volatility (6M) Calculated over the trailing 6-month period	8.97%	2.51%	+6.46%
Volatility (1Y) Calculated over the trailing 1-year period	11.22%	3.49%	+7.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.02%	5.16%	+5.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.02%	4.27%	+6.75%

FFUT vs. MBSD - Expense Ratio Comparison

FFUT has a 0.80% expense ratio, which is higher than MBSD's 0.20% expense ratio.

Dividends

FFUT vs. MBSD - Dividend Comparison

FFUT's dividend yield for the trailing twelve months is around 1.92%, less than MBSD's 4.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FFUT Fidelity Managed Futures ETF	1.92%	2.09%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MBSD FlexShares Disciplined Duration MBS Index Fund	4.19%	4.23%	3.91%	3.39%	3.03%	2.41%	2.78%	3.42%	3.22%	3.30%	3.02%	3.46%

Frequently Asked Questions

Can I hold both FFUT and MBSD in my portfolio?

FFUT and MBSD 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.

Which is riskier, FFUT or MBSD?

FFUT has higher volatility (2.93%) compared to MBSD (0.97%). In terms of maximum drawdown, FFUT dropped -4.33% vs MBSD's -14.36%.

Which ETF is better, FFUT or MBSD?

On 1-year performance, FFUT leads with 18.72% vs 4.57% for MBSD. On fees, MBSD is cheaper at 0.20% per year. On volatility, MBSD has been the lower-risk option at 0.97%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FFUT or MBSD?

Over the 1-year period, FFUT has performed better with a 18.72% return vs 4.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FFUT or MBSD?

MBSD is cheaper with a 0.20% expense ratio, compared with 0.80% for FFUT.

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

MBSD has the higher dividend yield at 4.19%, compared with 1.92% for FFUT.

What is the main difference between FFUT and MBSD?

FFUT is categorized as Systematic Trend, while MBSD is Mortgage Backed Securities. They also come from different issuers: Fidelity and Northern Trust. Their fees differ too: 0.80% for FFUT and 0.20% for MBSD.

Which has better risk-adjusted returns?

FFUT currently has the higher Sharpe Ratio (1.68 vs 1.31), 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.