FMF vs. ADME
FMF (First Trust Managed Futures Strategy Fund) and ADME (Aptus Drawdown Managed Equity ETF) are both Hedge Fund funds. FMF is actively managed, while ADME is passively managed. Over the past 5 years, FMF returned 4.62%/yr vs 8.23%/yr for ADME. At a 0.14 correlation, their price movements are largely independent. FMF charges 0.95%/yr vs 0.79%/yr for ADME.
Performance
FMF vs. ADME - Performance Comparison
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Returns By Period
In the year-to-date period, FMF achieves a 10.96% return, which is significantly higher than ADME's 9.81% return.
FMF
- 1D
- 0.33%
- 1M
- 1.08%
- YTD
- 10.96%
- 6M
- 11.47%
- 1Y
- 22.22%
- 3Y*
- 6.78%
- 5Y*
- 4.62%
- 10Y*
- 3.17%
ADME
- 1D
- -0.72%
- 1M
- 4.45%
- YTD
- 9.81%
- 6M
- 8.93%
- 1Y
- 20.89%
- 3Y*
- 17.40%
- 5Y*
- 8.23%
- 10Y*
- —
FMF vs. ADME - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FMF First Trust Managed Futures Strategy Fund | 10.96% | 4.54% | 8.17% | -0.18% | 5.24% | 3.57% | 5.69% | -5.16% | -2.64% | 1.70% |
ADME Aptus Drawdown Managed Equity ETF | 9.81% | 10.28% | 22.11% | 15.42% | -21.80% | 20.24% | 18.21% | 9.31% | -6.05% | 17.58% |
Correlation
The correlation between FMF and ADME is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.24 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Jun 10, 2016 | 0.14 |
The correlation between FMF and ADME shifts across timeframes, from 0.07 (5 years) to 0.24 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FMF vs. ADME — Risk / Return Rank
FMF
ADME
FMF vs. ADME - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Managed Futures Strategy Fund (FMF) and Aptus Drawdown Managed Equity ETF (ADME). 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.
| FMF | ADME | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.37 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 6.52 | 2.80 | +3.72 |
| Martin ratioReturn relative to average drawdown | 18.49 | 12.23 | +6.26 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FMF | ADME | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.31 | 2.11 | +0.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.43 | 0.64 | -0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.27 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.17 | 0.63 | -0.46 |
Drawdowns
FMF vs. ADME - Drawdown Comparison
The maximum FMF drawdown since its inception was -22.21%, smaller than the maximum ADME drawdown of -27.49%. Use the drawdown chart below to compare losses from any high point for FMF and ADME.
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Drawdown Indicators
| FMF | ADME | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.21% | -27.49% | +5.28% |
Max Drawdown (1Y)Largest decline over 1 year | -3.42% | -7.49% | +4.07% |
Max Drawdown (3Y)Largest decline over 3 years | -7.25% | -15.67% | +8.42% |
Max Drawdown (5Y)Largest decline over 5 years | -14.98% | -23.43% | +8.45% |
Max Drawdown (10Y)Largest decline over 10 years | -16.89% | — | — |
Current DrawdownCurrent decline from peak | -0.07% | -0.72% | +0.65% |
Average DrawdownAverage peak-to-trough decline | -9.86% | -7.92% | -1.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.20% | 1.71% | -0.51% |
Volatility
FMF vs. ADME - Volatility Comparison
The current volatility for First Trust Managed Futures Strategy Fund (FMF) is 1.89%, while Aptus Drawdown Managed Equity ETF (ADME) has a volatility of 2.99%. This indicates that FMF experiences smaller price fluctuations and is considered to be less risky than ADME based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FMF | ADME | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.89% | 2.99% | -1.10% |
Volatility (6M)Calculated over the trailing 6-month period | 7.11% | 7.69% | -0.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.66% | 9.95% | -0.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.74% | 12.87% | -2.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.72% | 14.40% | -2.68% |
FMF vs. ADME - Expense Ratio Comparison
FMF has a 0.95% expense ratio, which is higher than ADME's 0.79% expense ratio.
Dividends
FMF vs. ADME - Dividend Comparison
FMF's dividend yield for the trailing twelve months is around 4.96%, more than ADME's 0.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
ADME Aptus Drawdown Managed Equity ETF | 0.37% | 0.38% | 0.47% | 0.78% | 0.73% | 0.26% | 0.41% | 0.70% | 0.86% | 0.32% | 0.69% |
FMF First Trust Managed Futures Strategy Fund | 4.96% | 5.60% | 4.85% | 3.09% | 0.41% | 3.29% | 0.02% | 1.05% | 1.56% | 0.82% | 0.00% |
Frequently Asked Questions
FMF and ADME have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ADME has higher volatility (2.99%) compared to FMF (1.89%). In terms of maximum drawdown, FMF dropped -22.21% vs ADME's -27.49%.
On 5-year performance, ADME leads with 8.23% vs 4.62% for FMF. On fees, ADME is cheaper at 0.79% per year. On volatility, FMF has been the lower-risk option at 1.89%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, ADME has performed better with a 8.23% return vs 4.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ADME is cheaper with a 0.79% expense ratio, compared with 0.95% for FMF.
FMF has the higher dividend yield at 4.96%, compared with 0.37% for ADME.
They also come from different issuers: First Trust and Aptus Capital Advisors. Their fees differ too: 0.95% for FMF and 0.79% for ADME.
FMF currently has the higher Sharpe Ratio (2.31 vs 2.11), 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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