GOVI vs. FFUT

Last updated Jun 23, 2026

GOVI (Invesco Equal Weight 0-30 Year Treasury ETF) and FFUT (Fidelity Managed Futures ETF) are both exchange-traded funds - GOVI is a Government Bonds fund tracking the ICE 1-30 Year Laddered Maturity U.S. Treasury Index, while FFUT is a Systematic Trend fund actively managed by Fidelity. GOVI is passively managed, while FFUT is actively managed. Over the past year, GOVI returned 3.61% vs 18.91% for FFUT. At a correlation of -0.31, they often move in opposite directions. GOVI charges 0.15%/yr vs 0.80%/yr for FFUT.

Performance

GOVI vs. FFUT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Equal Weight 0-30 Year Treasury ETF (GOVI) and Fidelity Managed Futures ETF (FFUT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GOVI achieves a -0.10% return, which is significantly lower than FFUT's 9.23% return.

GOVI

• 1D: -0.53%
• 1M: 1.16%
• YTD: -0.10%
• 6M: -0.06%
• 1Y: 3.61%
• 3Y*: 0.88%
• 5Y*: -2.91%
• 10Y*: -0.20%

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)

GOVI vs. FFUT - Yearly Performance Comparison

	2026 (YTD)	2025
GOVI Invesco Equal Weight 0-30 Year Treasury ETF	-0.10%	3.79%
FFUT Fidelity Managed Futures ETF	9.23%	8.58%

Correlation

The correlation between GOVI and FFUT is -0.31, 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 (1Y) Calculated over the trailing 1-year period	-0.31
Correlation (All Time) Calculated using the full available price history since Jun 5, 2025	-0.31

Return for Risk

GOVI vs. FFUT — Risk / Return Rank

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

GOVI

GOVI Risk / Return Rank: 16
GOVI Sharpe Ratio Rank: 18
GOVI Sortino Ratio Rank: 16
GOVI Omega Ratio Rank: 15
GOVI Calmar Ratio Rank: 16
GOVI Martin Ratio Rank: 17

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.

GOVI vs. FFUT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Equal Weight 0-30 Year Treasury ETF (GOVI) 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.

	GOVI	FFUT	Difference
Sharpe ratio: Return per unit of total volatility	0.56	1.69	-1.13
Sortino ratio: Return per unit of downside risk	0.86	2.42	-1.56
Omega ratio: Gain probability vs. loss probability	1.10	1.33	-0.23
Calmar ratio: Return relative to maximum drawdown	0.66	4.77	-4.10
Martin ratio: Return relative to average drawdown	1.75	15.04	-13.29

GOVI vs. FFUT - Sharpe Ratio Comparison

The current GOVI Sharpe Ratio is 0.56, which is lower than the FFUT Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of GOVI and FFUT, 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

GOVI vs. FFUT - Drawdown Comparison

The maximum GOVI drawdown since its inception was -32.70%, which is greater than FFUT's maximum drawdown of -3.98%. Use the drawdown chart below to compare losses from any high point for GOVI and FFUT.

Drawdown Indicators

	GOVI	FFUT	Difference
Max Drawdown Largest peak-to-trough decline	-32.70%	-3.98%	-28.72%
Max Drawdown (1Y) Largest decline over 1 year	-5.45%	-3.98%	-1.47%
Max Drawdown (3Y) Largest decline over 3 years	-11.58%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-28.30%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-32.70%	—	—
Current Drawdown Current decline from peak	-22.04%	-3.98%	-18.06%
Average Drawdown Average peak-to-trough decline	-9.68%	-0.94%	-8.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.06%	1.26%	+0.80%

Volatility

GOVI vs. FFUT - Volatility Comparison

The current volatility for Invesco Equal Weight 0-30 Year Treasury ETF (GOVI) is 1.62%, while Fidelity Managed Futures ETF (FFUT) has a volatility of 2.92%. This indicates that GOVI experiences smaller price fluctuations and is considered to be less risky than FFUT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GOVI	FFUT	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.62%	2.92%	-1.30%
Volatility (6M) Calculated over the trailing 6-month period	4.67%	8.96%	-4.29%
Volatility (1Y) Calculated over the trailing 1-year period	6.43%	11.23%	-4.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.85%	11.03%	-1.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.10%	11.03%	-1.93%

GOVI vs. FFUT - Expense Ratio Comparison

GOVI has a 0.15% expense ratio, which is lower than FFUT's 0.80% expense ratio.

Dividends

GOVI vs. FFUT - Dividend Comparison

GOVI's dividend yield for the trailing twelve months is around 4.16%, more than FFUT's 1.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FFUT Fidelity Managed Futures ETF	1.91%	2.09%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
GOVI Invesco Equal Weight 0-30 Year Treasury ETF	4.16%	3.75%	3.56%	2.87%	1.97%	1.15%	1.00%	1.96%	2.14%	2.02%	2.00%	2.14%

Frequently Asked Questions

Can I hold both GOVI and FFUT in my portfolio?

GOVI and FFUT have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GOVI or FFUT?

FFUT has higher volatility (2.92%) compared to GOVI (1.62%). In terms of maximum drawdown, GOVI dropped -32.70% vs FFUT's -3.98%.

Which ETF is better, GOVI or FFUT?

On 1-year performance, FFUT leads with 18.91% vs 3.61% for GOVI. On fees, GOVI is cheaper at 0.15% per year. On volatility, GOVI has been the lower-risk option at 1.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GOVI or FFUT?

Over the 1-year period, FFUT has performed better with a 18.91% return vs 3.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GOVI or FFUT?

GOVI is cheaper with a 0.15% expense ratio, compared with 0.80% for FFUT.

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

GOVI has the higher dividend yield at 4.16%, compared with 1.91% for FFUT.

What is the main difference between GOVI and FFUT?

GOVI is categorized as Government Bonds, while FFUT is Systematic Trend. They also come from different issuers: Invesco and Fidelity. Their fees differ too: 0.15% for GOVI and 0.80% for FFUT.

Which has better risk-adjusted returns?

FFUT currently has the higher Sharpe Ratio (1.69 vs 0.56), 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.