GXDW vs. FFUT

Last updated Apr 1, 2026

Compare and contrast key facts about Global X Dorsey Wright Thematic ETF (GXDW) and Fidelity Managed Futures ETF (FFUT).

GXDW and FFUT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. GXDW is a passively managed fund by Global X that tracks the performance of the Nasdaq Dorsey Wright Thematic Rotation Total Return Index. It was launched on Oct 25, 2019. FFUT is an actively managed fund by Fidelity. It was launched on Jun 3, 2025.

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.

GXDW vs. FFUT - Yearly Performance Comparison

	2026 (YTD)	2025
GXDW Global X Dorsey Wright Thematic ETF	-6.81%	-2.94%
FFUT Fidelity Managed Futures ETF	7.42%	8.26%

Returns By Period

In the year-to-date period, GXDW achieves a -6.81% return, which is significantly lower than FFUT's 7.42% return.

GXDW

• 1D: 3.90%
• 1M: -6.16%
• YTD: -6.81%
• 6M: -17.86%
• 1Y: -0.43%
• 3Y*: -2.86%
• 5Y*: -13.24%
• 10Y*: —

FFUT

• 1D: -0.55%
• 1M: 2.31%
• YTD: 7.42%
• 6M: 11.94%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GXDW vs. FFUT - Expense Ratio Comparison

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

FFUT

Fidelity Managed Futures ETF

GXDW

Global X Dorsey Wright Thematic ETF

Return for Risk

GXDW vs. FFUT — Risk / Return Rank

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

GXDW

GXDW Risk / Return Rank: 11
GXDW Sharpe Ratio Rank: 11
GXDW Sortino Ratio Rank: 12
GXDW Omega Ratio Rank: 12
GXDW Calmar Ratio Rank: 10
GXDW Martin Ratio Rank: 10

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.

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.

	GXDW	FFUT	Difference
Sharpe ratio Return per unit of total volatility	-0.02	—	—
Sortino ratio Return per unit of downside risk	0.17	—	—
Omega ratio Gain probability vs. loss probability	1.02	—	—
Calmar ratio Return relative to maximum drawdown	-0.09	—	—
Martin ratio Return relative to average drawdown	-0.22	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	GXDW	FFUT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.02	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.49	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.04	1.86	-1.90

Correlation

The correlation between GXDW and FFUT is 0.18, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

GXDW vs. FFUT - Dividend Comparison

GXDW's dividend yield for the trailing twelve months is around 1.51%, less than FFUT's 1.95% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019
GXDW Global X Dorsey Wright Thematic ETF	1.51%	1.40%	1.08%	1.99%	1.48%	1.56%	0.48%	0.31%
FFUT Fidelity Managed Futures ETF	1.95%	2.09%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

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 -2.84%. 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%	-2.84%	-64.97%
Max Drawdown (1Y) Largest decline over 1 year	-24.65%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-61.17%	—	—
Current Drawdown Current decline from peak	-63.16%	-1.59%	-61.57%
Average Drawdown Average peak-to-trough decline	-42.76%	-0.89%	-41.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.77%	—	—

Volatility

Volatility by Period

	GXDW	FFUT	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.74%	—	—
Volatility (6M) Calculated over the trailing 6-month period	20.65%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	27.44%	11.01%	+16.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.33%	11.01%	+16.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.54%	11.01%	+18.53%