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FFUT vs. QMHIX
Performance
Return for Risk
Dividends
Drawdowns
Volatility

FFUT vs. QMHIX

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity Managed Futures ETF (FFUT) and AQR Managed Futures Strategy HV Fund (QMHIX).

FFUT is an actively managed fund by Fidelity. It was launched on Jun 3, 2025. QMHIX is managed by AQR Funds. It was launched on Jul 15, 2013.

Performance

FFUT vs. QMHIX - Performance Comparison

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

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FFUT vs. QMHIX - Yearly Performance Comparison

2026 (YTD)2025
FFUT
Fidelity Managed Futures ETF		7.42%8.26%
QMHIX
AQR Managed Futures Strategy HV Fund		14.62%13.99%

Returns By Period

In the year-to-date period, FFUT achieves a 7.42% return, which is significantly lower than QMHIX's 14.62% return.

FFUT

1D
-0.55%
1M
2.31%
YTD
7.42%
6M
11.94%
1Y
—
3Y*
—
5Y*
—
10Y*
—

QMHIX

1D
-0.62%
1M
2.92%
YTD
14.62%
6M
19.29%
1Y
27.61%
3Y*
18.04%
5Y*
16.43%
10Y*
5.02%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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Fidelity Managed Futures ETF

AQR Managed Futures Strategy HV Fund

Often compared with FFUT:
FFUT vs. DBMFFFUT vs. CTAFFUT vs. SPYFFUT vs. ETH-USDFFUT vs. AGGFFUT vs. ETHEFFUT vs. ETHE.SW
Often compared with QMHIX:
QMHIX vs. DBMFQMHIX vs. LONGXQMHIX vs. KMLMQMHIX vs. CTAQMHIX vs. SPYQMHIX vs. QSPIXQMHIX vs. MFTNX

FFUT vs. QMHIX - Expense Ratio Comparison

FFUT has a 0.80% expense ratio, which is lower than QMHIX's 1.65% expense ratio.

QMHIX
AQR Managed Futures Strategy HV Fund
FFUT
Fidelity Managed Futures ETF

Return for Risk

FFUT vs. QMHIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FFUT
QMHIX
QMHIX Risk / Return Rank: 9090
Overall Rank
QMHIX Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
QMHIX Sortino Ratio Rank: 8989
Sortino Ratio Rank
QMHIX Omega Ratio Rank: 8787
Omega Ratio Rank
QMHIX Calmar Ratio Rank: 9595
Calmar Ratio Rank
QMHIX Martin Ratio Rank: 8585
Martin Ratio Rank
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. QMHIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Managed Futures ETF (FFUT) and AQR Managed Futures Strategy HV Fund (QMHIX). 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.

FFUT vs. QMHIX - Sharpe Ratio Comparison

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Sharpe Ratios by Period

FFUTQMHIXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

—

2.01

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.96

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.33

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.86

0.37

+1.48

Correlation

The correlation between FFUT and QMHIX is 0.43, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

FFUT vs. QMHIX - Dividend Comparison

FFUT's dividend yield for the trailing twelve months is around 1.95%, more than QMHIX's 1.79% yield.

TTM20252024202320222021202020192018201720162015
FFUT
Fidelity Managed Futures ETF		1.95%2.09%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
QMHIX
AQR Managed Futures Strategy HV Fund		1.79%2.05%2.31%7.66%9.34%10.96%9.52%4.18%0.00%0.00%0.01%7.57%

Drawdowns

FFUT vs. QMHIX - Drawdown Comparison

The maximum FFUT drawdown since its inception was -2.84%, smaller than the maximum QMHIX drawdown of -39.37%. Use the drawdown chart below to compare losses from any high point for FFUT and QMHIX.

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Drawdown Indicators

FFUTQMHIXDifference

Max Drawdown

Largest peak-to-trough decline

-2.84%

-39.37%

+36.53%

Max Drawdown (1Y)

Largest decline over 1 year

—

-8.34%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-19.06%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-34.54%

—

Current Drawdown

Current decline from peak

-1.59%

-0.62%

-0.97%

Average Drawdown

Average peak-to-trough decline

-0.89%

-18.05%

+17.16%

Ulcer Index

Depth and duration of drawdowns from previous peaks

—

3.13%

—

Volatility

FFUT vs. QMHIX - Volatility Comparison

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Volatility by Period

FFUTQMHIXDifference

Volatility (1M)

Calculated over the trailing 1-month period

—

3.98%

—

Volatility (6M)

Calculated over the trailing 6-month period

—

9.98%

—

Volatility (1Y)

Calculated over the trailing 1-year period

11.01%

14.16%

-3.15%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

11.01%

17.26%

-6.25%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

11.01%

15.50%

-4.49%