FMF vs. FLRT
FMF (First Trust Managed Futures Strategy Fund) and FLRT (Pacific Global Senior Loan ETF) are both exchange-traded funds - FMF is a Hedge Fund fund actively managed by First Trust, while FLRT is a High Yield Bonds fund actively managed by Pacific Life. Both are actively managed. Over the past 10 years, FMF returned 2.81%/yr vs 4.90%/yr for FLRT. At a 0.05 correlation, their price movements are largely independent. FMF charges 0.95%/yr vs 0.69%/yr for FLRT.
Performance
FMF vs. FLRT - Performance Comparison
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Returns By Period
In the year-to-date period, FMF achieves a 7.37% return, which is significantly higher than FLRT's 1.81% return. Over the past 10 years, FMF has underperformed FLRT with an annualized return of 2.81%, while FLRT has yielded a comparatively higher 4.90% annualized return.
FMF
- 1D
- -1.16%
- 1M
- -3.03%
- YTD
- 7.37%
- 6M
- 7.60%
- 1Y
- 18.26%
- 3Y*
- 6.41%
- 5Y*
- 4.13%
- 10Y*
- 2.81%
FLRT
- 1D
- -0.06%
- 1M
- 0.17%
- YTD
- 1.81%
- 6M
- 1.89%
- 1Y
- 5.54%
- 3Y*
- 8.54%
- 5Y*
- 5.95%
- 10Y*
- 4.90%
FMF vs. FLRT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FMF First Trust Managed Futures Strategy Fund | 7.37% | 4.54% | 8.17% | -0.18% | 5.24% | 3.57% | 5.69% | -5.16% | -2.64% | 1.70% |
FLRT Pacific Global Senior Loan ETF | 1.81% | 6.24% | 9.18% | 14.59% | -2.72% | 3.18% | 2.78% | 9.44% | -1.14% | 1.72% |
Correlation
The correlation between FMF and FLRT is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.04 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.00 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Feb 19, 2015 | 0.05 |
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Return for Risk
FMF vs. FLRT — Risk / Return Rank
FMF
FLRT
FMF vs. FLRT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Managed Futures Strategy Fund (FMF) and Pacific Global Senior Loan ETF (FLRT). 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.
| FMF | FLRT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.59 | ||
| Sortino ratioReturn per unit of downside risk | -2.64 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.82 | -0.48 |
| Calmar ratioReturn relative to maximum drawdown | 5.36 | 3.13 | +2.23 |
| Martin ratioReturn relative to average drawdown | 14.57 | 11.44 | +3.13 |
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Drawdowns
FMF vs. FLRT - Drawdown Comparison
The maximum FMF drawdown since its inception was -22.21%, which is greater than FLRT's maximum drawdown of -20.96%. Use the drawdown chart below to compare losses from any high point for FMF and FLRT.
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Drawdown Indicators
| FMF | FLRT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.21% | -20.96% | -1.25% |
Max Drawdown (1Y)Largest decline over 1 year | -3.42% | -1.78% | -1.64% |
Max Drawdown (3Y)Largest decline over 3 years | -7.25% | -2.87% | -4.38% |
Max Drawdown (5Y)Largest decline over 5 years | -14.98% | -7.60% | -7.38% |
Max Drawdown (10Y)Largest decline over 10 years | -16.89% | -20.96% | +4.07% |
Current DrawdownCurrent decline from peak | -3.30% | -0.17% | -3.13% |
Average DrawdownAverage peak-to-trough decline | -9.83% | -1.41% | -8.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.26% | 0.49% | +0.77% |
Volatility
FMF vs. FLRT - Volatility Comparison
First Trust Managed Futures Strategy Fund (FMF) has a higher volatility of 2.64% compared to Pacific Global Senior Loan ETF (FLRT) at 0.42%. This indicates that FMF's price experiences larger fluctuations and is considered to be riskier than FLRT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FMF | FLRT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.64% | 0.42% | +2.22% |
Volatility (6M)Calculated over the trailing 6-month period | 7.32% | 1.23% | +6.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.64% | 1.59% | +8.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.75% | 2.30% | +8.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.66% | 6.12% | +5.54% |
FMF vs. FLRT - Expense Ratio Comparison
FMF has a 0.95% expense ratio, which is higher than FLRT's 0.69% expense ratio.
Dividends
FMF vs. FLRT - Dividend Comparison
FMF's dividend yield for the trailing twelve months is around 5.12%, less than FLRT's 6.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLRT Pacific Global Senior Loan ETF | 6.81% | 6.93% | 7.93% | 8.40% | 5.81% | 3.16% | 3.52% | 4.30% | 3.95% | 3.20% | 3.38% | 3.21% |
FMF First Trust Managed Futures Strategy Fund | 5.12% | 5.60% | 4.85% | 3.09% | 0.41% | 3.29% | 0.02% | 1.05% | 1.56% | 0.82% | 0.00% | 0.00% |
Frequently Asked Questions
FMF and FLRT have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FMF has higher volatility (2.64%) compared to FLRT (0.42%). In terms of maximum drawdown, FMF dropped -22.21% vs FLRT's -20.96%.
On 10-year performance, FLRT leads with 4.90% vs 2.81% for FMF. On fees, FLRT is cheaper at 0.69% per year. On volatility, FLRT has been the lower-risk option at 0.42%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FLRT has performed better with a 4.90% return vs 2.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLRT is cheaper with a 0.69% expense ratio, compared with 0.95% for FMF.
FLRT has the higher dividend yield at 6.81%, compared with 5.12% for FMF.
FMF is categorized as Hedge Fund, while FLRT is High Yield Bonds. They also come from different issuers: First Trust and Pacific Life. Their fees differ too: 0.95% for FMF and 0.69% for FLRT.
FLRT currently has the higher Sharpe Ratio (3.49 vs 1.90), 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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