FMF vs. RSBT
FMF (First Trust Managed Futures Strategy Fund) and RSBT (Return Stacked Bonds & Managed Futures ETF) are both exchange-traded funds - FMF is a Systematic Trend fund actively managed by First Trust, while RSBT is a Nontraditional Bonds fund actively managed by Return Stacked. Both are actively managed. Over the past 3 years, FMF returned 5.15%/yr vs 2.49%/yr for RSBT. Their 0.44 correlation means their historical movements had little consistent relationship. FMF charges 0.95%/yr vs 0.97%/yr for RSBT.
Performance
FMF vs. RSBT - Performance Comparison
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Returns By Period
In the year-to-date period, FMF achieves a 7.57% return, which is significantly higher than RSBT's 4.41% return.
FMF
- 1D
- 0.30%
- 1M
- 1.46%
- 6M
- 5.09%
- YTD
- 7.57%
- 1Y
- 15.06%
- 3Y*
- 5.15%
- 5Y*
- 4.42%
- 10Y*
- 2.77%
- ALL TIME*
- 1.85%
RSBT
- 1D
- 0.00%
- 1M
- -0.85%
- 6M
- 0.54%
- YTD
- 4.41%
- 1Y
- 22.66%
- 3Y*
- 2.49%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -0.41%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.63M | $1.43M | $2.63M | |
| $575.14K | $784.75K | $843.96K |
FMF vs. RSBT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FMF First Trust Managed Futures Strategy Fund | 7.57% | 4.54% | 8.17% | 0.73% |
RSBT Return Stacked Bonds & Managed Futures ETF | 4.41% | 10.31% | -2.90% | -11.85% |
Correlation
The correlation between FMF and RSBT is 0.50, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.50 |
Correlation (3Y) Balances recent behavior with more history. | 0.45 |
Correlation (All Time) Calculated using the full available price history since Feb 8, 2023 | 0.44 |
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Return for Risk
FMF vs. RSBT — Risk / Return Rank
FMF
RSBT
FMF vs. RSBT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Managed Futures Strategy Fund (FMF) and Return Stacked Bonds & Managed Futures ETF (RSBT). 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 | RSBT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.30 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.23 | 3.73 | -0.49 |
| Martin ratioReturn relative to average drawdown | 8.80 | 8.86 | -0.06 |
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Drawdowns
FMF vs. RSBT - Drawdown Comparison
The maximum FMF drawdown since its inception was -22.21%, smaller than the maximum RSBT drawdown of -23.60%. Use the drawdown chart below to compare losses from any high point for FMF and RSBT.
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Drawdown Indicators
| FMF | RSBT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.21% | -23.60% | +1.39% |
Max Drawdown (1Y)Largest decline over 1 year | -4.51% | -6.03% | +1.52% |
Max Drawdown (3Y)Largest decline over 3 years | -7.25% | -18.98% | +11.73% |
Max Drawdown (5Y)Largest decline over 5 years | -14.98% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -16.89% | — | — |
Current DrawdownCurrent decline from peak | -3.12% | -5.65% | +2.53% |
Average DrawdownAverage peak-to-trough decline | -9.77% | -12.22% | +2.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.65% | 2.53% | -0.88% |
Volatility
FMF vs. RSBT - Volatility Comparison
The current volatility for First Trust Managed Futures Strategy Fund (FMF) is 3.03%, while Return Stacked Bonds & Managed Futures ETF (RSBT) has a volatility of 3.32%. This indicates that FMF experiences smaller price fluctuations and is considered to be less risky than RSBT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FMF | RSBT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.03% | 3.32% | -0.29% |
Volatility (6M)Calculated over the trailing 6-month period | 7.51% | 10.24% | -2.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.56% | 14.01% | -4.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.73% | 13.75% | -3.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.55% | 13.75% | -2.20% |
FMF vs. RSBT - Expense Ratio Comparison
FMF has a 0.95% expense ratio, which is lower than RSBT's 0.97% expense ratio.
Dividends
FMF vs. RSBT - Dividend Comparison
FMF's dividend yield for the trailing twelve months is around 5.03%, more than RSBT's 3.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FMF First Trust Managed Futures Strategy Fund | 5.03% | 5.60% | 4.85% | 3.09% | 0.41% | 3.29% | 0.02% | 1.05% | 1.56% | 0.82% |
RSBT Return Stacked Bonds & Managed Futures ETF | 3.07% | 3.20% | 0.00% | 2.38% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FMF and RSBT have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RSBT has higher volatility (3.32%) compared to FMF (3.03%). In terms of maximum drawdown, FMF dropped -22.21% vs RSBT's -23.60%.
On 3-year performance, FMF leads with 5.15% vs 2.49% for RSBT. On fees, FMF is cheaper at 0.95% per year. On volatility, FMF has been the lower-risk option at 3.03%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, FMF has performed better with a 5.15% return vs 2.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FMF is cheaper with a 0.95% expense ratio, compared with 0.97% for RSBT.
FMF has the higher dividend yield at 5.03%, compared with 3.07% for RSBT.
FMF is categorized as Systematic Trend, while RSBT is Nontraditional Bonds. They also come from different issuers: First Trust and Return Stacked. Their fees differ too: 0.95% for FMF and 0.97% for RSBT.
RSBT currently has the higher Sharpe Ratio (1.60 vs 1.53), 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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