FFUT vs. TFFI

Last updated Aug 4, 2026

FFUT (Fidelity Managed Futures ETF) and TFFI (Chesapeake Trend-Following Fixed Income ETF) are both exchange-traded funds - FFUT is a Systematic Trend fund actively managed by Fidelity, while TFFI is a Actively Managed fund actively managed by Chesapeake. Both are actively managed. Their 0.51 correlation means they have sometimes moved together and sometimes differently. FFUT charges 0.80%/yr vs 1.01%/yr for TFFI.

Performance

FFUT vs. TFFI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Managed Futures ETF (FFUT) and Chesapeake Trend-Following Fixed Income ETF (TFFI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FFUT

• 1D: -0.94%
• 1M: 4.47%
• 6M: 9.16%
• YTD: 12.52%
• 1Y: 22.59%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 18.82%

TFFI

• 1D: -0.48%
• 1M: 2.42%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FFUT Fidelity Managed Futures ETF	$7.87M	$4.04M	$2.05M
TFFI Chesapeake Trend-Following Fixed Income ETF	$142.76K	$122.17K	$135.06K

FFUT vs. TFFI - Yearly Performance Comparison

	2026 (YTD)
FFUT Fidelity Managed Futures ETF	7.86%
TFFI Chesapeake Trend-Following Fixed Income ETF	1.01%

Correlation

The correlation between FFUT and TFFI is 0.51, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Feb 24, 2026	0.51

Return for Risk

FFUT vs. TFFI — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FFUT

FFUT Risk / Return Rank: 85
FFUT Sharpe Ratio Rank: 82
FFUT Sortino Ratio Rank: 82
FFUT Omega Ratio Rank: 83
FFUT Calmar Ratio Rank: 91
FFUT Martin Ratio Rank: 88

TFFI

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FFUT vs. TFFI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Managed Futures ETF (FFUT) and Chesapeake Trend-Following Fixed Income ETF (TFFI). 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	TFFI	Difference
Sharpe ratio: Return per unit of total volatility	1.95	—	—
Sortino ratio: Return per unit of downside risk	2.74	—	—
Omega ratio: Gain probability vs. loss probability	1.37	—	—
Calmar ratio: Return relative to maximum drawdown	4.06	—	—
Martin ratio: Return relative to average drawdown	13.81	—	—

Drawdowns

FFUT vs. TFFI - Drawdown Comparison

The maximum FFUT drawdown since its inception was -5.59%, which is greater than TFFI's maximum drawdown of -4.23%. Use the drawdown chart below to compare losses from any high point for FFUT and TFFI.

Drawdown Indicators

	FFUT	TFFI	Difference
Max Drawdown Largest peak-to-trough decline	-5.59%	-4.23%	-1.36%
Max Drawdown (1Y) Largest decline over 1 year	-5.59%	—	—
Current Drawdown Current decline from peak	-2.36%	-1.12%	-1.24%
Average Drawdown Average peak-to-trough decline	-1.12%	-1.60%	+0.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.64%	—	—

Volatility

Volatility by Period

	FFUT	TFFI	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.71%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.26%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	11.66%	7.78%	+3.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.11%	7.78%	+3.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.11%	7.78%	+3.33%

FFUT vs. TFFI - Expense Ratio Comparison

FFUT has a 0.80% expense ratio, which is lower than TFFI's 1.01% expense ratio.

Dividends

FFUT vs. TFFI - Dividend Comparison

FFUT's dividend yield for the trailing twelve months is around 1.86%, while TFFI has not paid dividends to shareholders.

Position	TTM	2025
FFUT Fidelity Managed Futures ETF	1.86%	2.09%
TFFI Chesapeake Trend-Following Fixed Income ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both FFUT and TFFI in my portfolio?

FFUT and TFFI have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FFUT or TFFI?

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.

Which ETF is cheaper, FFUT or TFFI?

FFUT is cheaper with a 0.80% expense ratio, compared with 1.01% for TFFI.

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

FFUT has the higher dividend yield at 1.86%, compared with 0.00% for TFFI.

What is the main difference between FFUT and TFFI?

FFUT is categorized as Systematic Trend, while TFFI is Actively Managed. They also come from different issuers: Fidelity and Chesapeake. Their fees differ too: 0.80% for FFUT and 1.01% for TFFI.