GXDW vs. FFUT

Last updated Aug 2, 2026

GXDW (Global X Dorsey Wright Thematic ETF) and FFUT (Fidelity Managed Futures ETF) are both Systematic Trend funds. GXDW is passively managed, while FFUT is actively managed. Over the past year, GXDW returned -8.01% vs 23.75% for FFUT. Their 0.04 correlation means their historical movements had little consistent relationship. GXDW charges 0.50%/yr vs 0.80%/yr for FFUT.

Performance

GXDW vs. FFUT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Dorsey Wright Thematic ETF (GXDW) 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, GXDW achieves a -3.37% return, which is significantly lower than FFUT's 13.58% return.

GXDW

• 1D: -1.04%
• 1M: -8.67%
• 6M: -7.01%
• YTD: -3.37%
• 1Y: -8.01%
• 3Y*: -5.28%
• 5Y*: -13.25%
• 10Y*: —
• ALL TIME*: -0.58%

FFUT

• 1D: -0.23%
• 1M: 5.46%
• 6M: 9.55%
• YTD: 13.58%
• 1Y: 23.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 19.94%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FFUT Fidelity Managed Futures ETF	$7.77M	$4.00M	$2.01M
GXDW Global X Dorsey Wright Thematic ETF	$66.28K	$83.18K	$192.33K

GXDW vs. FFUT - Yearly Performance Comparison

	2026 (YTD)	2025
GXDW Global X Dorsey Wright Thematic ETF	-3.37%	-2.99%
FFUT Fidelity Managed Futures ETF	13.58%	8.58%

Correlation

The correlation between GXDW and FFUT is 0.03, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.03
Correlation (All Time) Calculated using the full available price history since Jun 5, 2025	0.04

Return for Risk

GXDW vs. FFUT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

GXDW

GXDW Risk / Return Rank: 7
GXDW Sharpe Ratio Rank: 7
GXDW Sortino Ratio Rank: 7
GXDW Omega Ratio Rank: 7
GXDW Calmar Ratio Rank: 7
GXDW Martin Ratio Rank: 6

FFUT

FFUT Risk / Return Rank: 88
FFUT Sharpe Ratio Rank: 86
FFUT Sortino Ratio Rank: 86
FFUT Omega Ratio Rank: 87
FFUT Calmar Ratio Rank: 92
FFUT Martin Ratio Rank: 90

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

GXDW vs. FFUT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Dorsey Wright Thematic ETF (GXDW) 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.

	GXDW	FFUT	Difference
Sharpe ratio: Return per unit of total volatility	-0.31	2.02	-2.34
Sortino ratio: Return per unit of downside risk	-0.23	2.85	-3.08
Omega ratio: Gain probability vs. loss probability	0.97	1.38	-0.41
Calmar ratio: Return relative to maximum drawdown	-0.34	4.20	-4.54
Martin ratio: Return relative to average drawdown	-0.78	14.36	-15.14

GXDW vs. FFUT - Sharpe Ratio Comparison

The current GXDW Sharpe Ratio is -0.31, which is lower than the FFUT Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of GXDW 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

GXDW vs. FFUT - Drawdown Comparison

The maximum GXDW drawdown since its inception was -67.81%, which is greater than FFUT's maximum drawdown of -5.59%. Use the drawdown chart below to compare losses from any high point for GXDW and FFUT.

Drawdown Indicators

	GXDW	FFUT	Difference
Max Drawdown Largest peak-to-trough decline	-67.81%	-5.59%	-62.22%
Max Drawdown (1Y) Largest decline over 1 year	-29.14%	-5.59%	-23.55%
Max Drawdown (3Y) Largest decline over 3 years	-29.14%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-61.17%	—	—
Current Drawdown Current decline from peak	-61.80%	-1.43%	-60.37%
Average Drawdown Average peak-to-trough decline	-43.41%	-1.11%	-42.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.56%	1.63%	+10.93%

Volatility

GXDW vs. FFUT - Volatility Comparison

Global X Dorsey Wright Thematic ETF (GXDW) has a higher volatility of 13.48% compared to Fidelity Managed Futures ETF (FFUT) at 3.61%. This indicates that GXDW's price experiences larger fluctuations and is considered to be riskier than FFUT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GXDW	FFUT	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.48%	3.61%	+9.87%
Volatility (6M) Calculated over the trailing 6-month period	25.74%	9.27%	+16.47%
Volatility (1Y) Calculated over the trailing 1-year period	31.49%	11.67%	+19.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.73%	11.09%	+17.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.13%	11.09%	+19.04%

GXDW vs. FFUT - Expense Ratio Comparison

GXDW has a 0.50% expense ratio, which is lower than FFUT's 0.80% expense ratio.

Dividends

GXDW vs. FFUT - Dividend Comparison

GXDW's dividend yield for the trailing twelve months is around 1.55%, less than FFUT's 1.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FFUT Fidelity Managed Futures ETF	1.84%	2.09%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
GXDW Global X Dorsey Wright Thematic ETF	1.55%	1.40%	1.08%	1.99%	1.48%	1.56%	0.48%	0.31%

Frequently Asked Questions

Can I hold both GXDW and FFUT in my portfolio?

GXDW and FFUT have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GXDW or FFUT?

GXDW has higher volatility (13.48%) compared to FFUT (3.61%). In terms of maximum drawdown, GXDW dropped -67.81% vs FFUT's -5.59%.

Which ETF is better, GXDW or FFUT?

On 1-year performance, FFUT leads with 23.75% vs -8.01% for GXDW. On fees, GXDW is cheaper at 0.50% per year. On volatility, FFUT has been the lower-risk option at 3.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GXDW or FFUT?

Over the 1-year period, FFUT has performed better with a 23.75% return vs -8.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GXDW or FFUT?

GXDW is cheaper with a 0.50% expense ratio, compared with 0.80% for FFUT.

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

FFUT has the higher dividend yield at 1.84%, compared with 1.55% for GXDW.

What is the main difference between GXDW and FFUT?

They also come from different issuers: Global X and Fidelity. Their fees differ too: 0.50% for GXDW and 0.80% for FFUT.

Which has better risk-adjusted returns?

FFUT currently has the higher Sharpe Ratio (2.02 vs -0.31), 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.