GAVA vs. FFUT

Last updated Jun 23, 2026

GAVA (Grayscale Avalanche Staking ETF) and FFUT (Fidelity Managed Futures ETF) are both exchange-traded funds - GAVA is a Cryptocurrency fund actively managed by Grayscale, while FFUT is a Systematic Trend fund actively managed by Fidelity. Both are actively managed. At a correlation of -0.30, they often move in opposite directions. GAVA charges 0.35%/yr vs 0.80%/yr for FFUT.

Performance

GAVA vs. FFUT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Grayscale Avalanche Staking ETF (GAVA) and Fidelity Managed Futures ETF (FFUT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

GAVA

• 1D: -1.38%
• 1M: -32.14%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FFUT

• 1D: -0.52%
• 1M: -2.34%
• YTD: 9.23%
• 6M: 9.36%
• 1Y: 18.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GAVA vs. FFUT - Yearly Performance Comparison

	2026 (YTD)
GAVA Grayscale Avalanche Staking ETF	-34.49%
FFUT Fidelity Managed Futures ETF	2.98%

Correlation

The correlation between GAVA and FFUT is -0.30, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 12, 2026	-0.30

Return for Risk

GAVA vs. FFUT — Risk / Return Rank

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

GAVA

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

FFUT

FFUT Risk / Return Rank: 64
FFUT Sharpe Ratio Rank: 51
FFUT Sortino Ratio Rank: 51
FFUT Omega Ratio Rank: 54
FFUT Calmar Ratio Rank: 87
FFUT Martin Ratio Rank: 80

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.

GAVA vs. FFUT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Grayscale Avalanche Staking ETF (GAVA) and Fidelity Managed Futures ETF (FFUT). 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.

	GAVA	FFUT	Difference
Sharpe ratio: Return per unit of total volatility	—	1.69	—
Sortino ratio: Return per unit of downside risk	—	2.42	—
Omega ratio: Gain probability vs. loss probability	—	1.33	—
Calmar ratio: Return relative to maximum drawdown	—	4.77	—
Martin ratio: Return relative to average drawdown	—	15.04	—

Drawdowns

GAVA vs. FFUT - Drawdown Comparison

The maximum GAVA drawdown since its inception was -38.90%, which is greater than FFUT's maximum drawdown of -3.98%. Use the drawdown chart below to compare losses from any high point for GAVA and FFUT.

Drawdown Indicators

	GAVA	FFUT	Difference
Max Drawdown Largest peak-to-trough decline	-38.90%	-3.98%	-34.92%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.98%	—
Current Drawdown Current decline from peak	-38.90%	-3.98%	-34.92%
Average Drawdown Average peak-to-trough decline	-13.24%	-0.94%	-12.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.26%	—

Volatility

Volatility by Period

	GAVA	FFUT	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.92%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.96%	—
Volatility (1Y) Calculated over the trailing 1-year period	54.46%	11.23%	+43.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	54.46%	11.03%	+43.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	54.46%	11.03%	+43.43%

GAVA vs. FFUT - Expense Ratio Comparison

GAVA has a 0.35% expense ratio, which is lower than FFUT's 0.80% expense ratio.

Dividends

GAVA vs. FFUT - Dividend Comparison

GAVA has not paid dividends to shareholders, while FFUT's dividend yield for the trailing twelve months is around 1.91%.

Position	TTM	2025
FFUT Fidelity Managed Futures ETF	1.91%	2.09%
GAVA Grayscale Avalanche Staking ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both GAVA and FFUT in my portfolio?

GAVA and FFUT have a correlation of -0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GAVA or FFUT?

On fees, GAVA is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GAVA or FFUT?

GAVA is cheaper with a 0.35% expense ratio, compared with 0.80% for FFUT.

Which ETF pays a higher dividend yield, GAVA or FFUT?

FFUT has the higher dividend yield at 1.91%, compared with 0.00% for GAVA.

What is the main difference between GAVA and FFUT?

GAVA is categorized as Cryptocurrency, while FFUT is Systematic Trend. They also come from different issuers: Grayscale and Fidelity. Their fees differ too: 0.35% for GAVA and 0.80% for FFUT.