FMF vs. KNG
FMF (First Trust Managed Futures Strategy Fund) and KNG (FT Vest S&P 500 Dividend Aristocrats Target Income ETF) are both exchange-traded funds - FMF is a Hedge Fund fund actively managed by First Trust, while KNG is a Dividend fund tracking the Cboe S&P 500 Dividend Aristocrats Target Income Index Monthly Series. FMF is actively managed, while KNG is passively managed. Over the past 5 years, FMF returned 4.35%/yr vs 5.84%/yr for KNG. At a 0.09 correlation, their price movements are largely independent. FMF charges 0.95%/yr vs 0.75%/yr for KNG.
Performance
FMF vs. KNG - Performance Comparison
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Returns By Period
In the year-to-date period, FMF achieves a 7.98% return, which is significantly lower than KNG's 8.48% return.
FMF
- 1D
- 0.92%
- 1M
- -1.02%
- 6M
- 5.23%
- YTD
- 7.98%
- 1Y
- 15.36%
- 3Y*
- 5.68%
- 5Y*
- 4.35%
- 10Y*
- 2.66%
KNG
- 1D
- 0.24%
- 1M
- 2.62%
- 6M
- 5.35%
- YTD
- 8.48%
- 1Y
- 11.29%
- 3Y*
- 7.56%
- 5Y*
- 5.84%
- 10Y*
- —
FMF vs. KNG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FMF First Trust Managed Futures Strategy Fund | 7.98% | 4.54% | 8.17% | -0.18% | 5.24% | 3.57% | 5.69% | -5.16% | -2.70% |
KNG FT Vest S&P 500 Dividend Aristocrats Target Income ETF | 8.48% | 6.63% | 5.99% | 7.48% | -7.03% | 24.78% | 7.21% | 26.64% | -1.56% |
Correlation
The correlation between FMF and KNG is 0.09, 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 | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Mar 27, 2018 | 0.09 |
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Return for Risk
FMF vs. KNG — Risk / Return Rank
FMF
KNG
FMF vs. KNG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Managed Futures Strategy Fund (FMF) and FT Vest S&P 500 Dividend Aristocrats Target Income ETF (KNG). 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 | KNG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.49 | ||
| Sortino ratioReturn per unit of downside risk | +0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.19 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.42 | 1.32 | +2.10 |
| Martin ratioReturn relative to average drawdown | 10.28 | 3.30 | +6.98 |
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Drawdowns
FMF vs. KNG - Drawdown Comparison
The maximum FMF drawdown since its inception was -22.21%, smaller than the maximum KNG drawdown of -35.12%. Use the drawdown chart below to compare losses from any high point for FMF and KNG.
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Drawdown Indicators
| FMF | KNG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.21% | -35.12% | +12.91% |
Max Drawdown (1Y)Largest decline over 1 year | -4.51% | -8.61% | +4.10% |
Max Drawdown (3Y)Largest decline over 3 years | -7.25% | -14.24% | +6.99% |
Max Drawdown (5Y)Largest decline over 5 years | -14.98% | -18.20% | +3.22% |
Max Drawdown (10Y)Largest decline over 10 years | -16.89% | — | — |
Current DrawdownCurrent decline from peak | -2.75% | -1.01% | -1.74% |
Average DrawdownAverage peak-to-trough decline | -9.80% | -4.11% | -5.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.50% | 3.43% | -1.93% |
Volatility
FMF vs. KNG - Volatility Comparison
First Trust Managed Futures Strategy Fund (FMF) and FT Vest S&P 500 Dividend Aristocrats Target Income ETF (KNG) have volatilities of 3.45% and 3.43%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FMF | KNG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.45% | 3.43% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 7.68% | 7.80% | -0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.83% | 10.52% | -0.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.77% | 13.60% | -2.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.63% | 17.13% | -5.50% |
FMF vs. KNG - Expense Ratio Comparison
FMF has a 0.95% expense ratio, which is higher than KNG's 0.75% expense ratio.
Dividends
FMF vs. KNG - Dividend Comparison
FMF's dividend yield for the trailing twelve months is around 5.01%, less than KNG's 8.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FMF First Trust Managed Futures Strategy Fund | 5.01% | 5.60% | 4.85% | 3.09% | 0.41% | 3.29% | 0.02% | 1.05% | 1.56% | 0.82% |
KNG FT Vest S&P 500 Dividend Aristocrats Target Income ETF | 8.22% | 8.61% | 9.08% | 5.91% | 4.00% | 3.45% | 3.62% | 4.09% | 3.46% | 0.00% |
Frequently Asked Questions
FMF and KNG have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FMF has higher volatility (3.45%) compared to KNG (3.43%). In terms of maximum drawdown, FMF dropped -22.21% vs KNG's -35.12%.
On 5-year performance, KNG leads with 5.84% vs 4.35% for FMF. On fees, KNG is cheaper at 0.75% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, KNG has performed better with a 5.84% return vs 4.35%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KNG is cheaper with a 0.75% expense ratio, compared with 0.95% for FMF.
KNG has the higher dividend yield at 8.22%, compared with 5.01% for FMF.
FMF is categorized as Hedge Fund, while KNG is Dividend. Their fees differ too: 0.95% for FMF and 0.75% for KNG.
FMF currently has the higher Sharpe Ratio (1.57 vs 1.08), 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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