FMTM vs. CTEF

Last updated Jul 21, 2026

FMTM (MarketDesk Focused U.S. Momentum ETF) and CTEF (Castellan Targeted Equity ETF) are both exchange-traded funds - FMTM is a Momentum fund, while CTEF is a Mid Cap Blend Equities fund actively managed by Castellan. Both are actively managed. Over the past year, FMTM returned 42.90% vs 64.32% for CTEF. Their correlation of 0.83 suggests significant overlap in exposure. Both charge a 0.45% expense ratio.

Performance

FMTM vs. CTEF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MarketDesk Focused U.S. Momentum ETF (FMTM) and Castellan Targeted Equity ETF (CTEF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FMTM achieves a 18.34% return, which is significantly lower than CTEF's 33.21% return.

FMTM

• 1D: -0.76%
• 1M: -10.52%
• 6M: 8.31%
• YTD: 18.34%
• 1Y: 42.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 36.70%

CTEF

• 1D: 0.33%
• 1M: -4.17%
• 6M: 28.28%
• YTD: 33.21%
• 1Y: 64.32%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 69.37%

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

FMTM vs. CTEF - Yearly Performance Comparison

	2026 (YTD)	2025
FMTM MarketDesk Focused U.S. Momentum ETF	18.34%	24.55%
CTEF Castellan Targeted Equity ETF	33.21%	33.10%

Correlation

The correlation between FMTM and CTEF is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (All Time) Calculated using the full available price history since Jun 18, 2025	0.83

The correlation between FMTM and CTEF has been stable across timeframes, ranging from 0.83 to 0.84 - a consistent structural relationship.

Return for Risk

FMTM vs. CTEF — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FMTM

FMTM Risk / Return Rank: 71
FMTM Sharpe Ratio Rank: 68
FMTM Sortino Ratio Rank: 61
FMTM Omega Ratio Rank: 62
FMTM Calmar Ratio Rank: 84
FMTM Martin Ratio Rank: 81

CTEF

CTEF Risk / Return Rank: 93
CTEF Sharpe Ratio Rank: 95
CTEF Sortino Ratio Rank: 93
CTEF Omega Ratio Rank: 91
CTEF Calmar Ratio Rank: 91
CTEF Martin Ratio Rank: 94

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FMTM vs. CTEF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MarketDesk Focused U.S. Momentum ETF (FMTM) and Castellan Targeted Equity ETF (CTEF). 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.

	FMTM	CTEF	Difference
Sharpe ratio: Return per unit of total volatility	1.65	2.79	-1.14
Sortino ratio: Return per unit of downside risk	2.16	3.63	-1.48
Omega ratio: Gain probability vs. loss probability	1.28	1.45	-0.17
Calmar ratio: Return relative to maximum drawdown	3.35	4.31	-0.96
Martin ratio: Return relative to average drawdown	11.46	19.08	-7.62

FMTM vs. CTEF - Sharpe Ratio Comparison

The current FMTM Sharpe Ratio is 1.65, which is lower than the CTEF Sharpe Ratio of 2.79. The chart below compares the historical Sharpe Ratios of FMTM and CTEF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FMTM vs. CTEF - Drawdown Comparison

The maximum FMTM drawdown since its inception was -12.86%, smaller than the maximum CTEF drawdown of -15.00%. Use the drawdown chart below to compare losses from any high point for FMTM and CTEF.

Drawdown Indicators

	FMTM	CTEF	Difference
Max Drawdown Largest peak-to-trough decline	-12.86%	-15.00%	+2.14%
Max Drawdown (1Y) Largest decline over 1 year	-12.86%	-15.00%	+2.14%
Current Drawdown Current decline from peak	-12.86%	-5.75%	-7.11%
Average Drawdown Average peak-to-trough decline	-2.16%	-1.85%	-0.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.75%	3.38%	+0.37%

Volatility

FMTM vs. CTEF - Volatility Comparison

MarketDesk Focused U.S. Momentum ETF (FMTM) has a higher volatility of 11.12% compared to Castellan Targeted Equity ETF (CTEF) at 6.70%. This indicates that FMTM's price experiences larger fluctuations and is considered to be riskier than CTEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FMTM	CTEF	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.12%	6.70%	+4.42%
Volatility (6M) Calculated over the trailing 6-month period	20.71%	19.32%	+1.39%
Volatility (1Y) Calculated over the trailing 1-year period	26.12%	23.21%	+2.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.62%	22.50%	+2.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.62%	22.50%	+2.12%

FMTM vs. CTEF - Expense Ratio Comparison

Both FMTM and CTEF have an expense ratio of 0.45%.

Dividends

FMTM vs. CTEF - Dividend Comparison

FMTM's dividend yield for the trailing twelve months is around 0.25%, more than CTEF's 0.06% yield.

Position	TTM	2025
CTEF Castellan Targeted Equity ETF	0.06%	0.08%
FMTM MarketDesk Focused U.S. Momentum ETF	0.25%	0.30%

Frequently Asked Questions

Can I hold both FMTM and CTEF in my portfolio?

FMTM and CTEF have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FMTM or CTEF?

FMTM has higher volatility (11.12%) compared to CTEF (6.70%). In terms of maximum drawdown, FMTM dropped -12.86% vs CTEF's -15.00%.

Which ETF is better, FMTM or CTEF?

On 1-year performance, CTEF leads with 64.32% vs 42.90% for FMTM. Both ETFs have the same 0.45% expense ratio. On volatility, CTEF has been the lower-risk option at 6.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FMTM or CTEF?

Over the 1-year period, CTEF has performed better with a 64.32% return vs 42.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FMTM or CTEF?

FMTM and CTEF have the same expense ratio: 0.45% per year.

Which ETF pays a higher dividend yield, FMTM or CTEF?

FMTM has the higher dividend yield at 0.25%, compared with 0.06% for CTEF.

What is the main difference between FMTM and CTEF?

FMTM is categorized as Momentum, while CTEF is Mid Cap Blend Equities.

Which has better risk-adjusted returns?

CTEF currently has the higher Sharpe Ratio (2.79 vs 1.65), 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.