HFGM vs. HFMF

Last updated Apr 2, 2026

Compare and contrast key facts about Unlimited HFGM Global Macro ETF (HFGM) and Unlimited HFMF Managed Futures ETF (HFMF).

HFGM and HFMF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HFGM is an actively managed fund by Unlimited. It was launched on Apr 14, 2025. HFMF is an actively managed fund by Unlimited. It was launched on Jul 14, 2025.

Performance

HFGM vs. HFMF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Unlimited HFGM Global Macro ETF (HFGM) and Unlimited HFMF Managed Futures ETF (HFMF). The values are adjusted to include any dividend payments, if applicable.

HFGM vs. HFMF - Yearly Performance Comparison

	2026 (YTD)	2025
HFGM Unlimited HFGM Global Macro ETF	12.76%	17.83%
HFMF Unlimited HFMF Managed Futures ETF	12.13%	6.34%

Returns By Period

The year-to-date returns for both stocks are quite close, with HFGM having a 12.76% return and HFMF slightly lower at 12.13%.

HFGM

• 1D: 1.43%
• 1M: -4.15%
• YTD: 12.76%
• 6M: 12.50%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HFMF

• 1D: 0.34%
• 1M: -2.22%
• YTD: 12.13%
• 6M: 13.05%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HFGM vs. HFMF - Expense Ratio Comparison

HFGM has a 0.95% expense ratio, which is lower than HFMF's 0.97% expense ratio.

HFMF

Unlimited HFMF Managed Futures ETF

HFGM

Unlimited HFGM Global Macro ETF

Return for Risk

HFGM vs. HFMF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Unlimited HFGM Global Macro ETF (HFGM) and Unlimited HFMF Managed Futures ETF (HFMF). 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.

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

Sharpe Ratios by Period

	HFGM	HFMF	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.96	1.59	+0.37

Correlation

The correlation between HFGM and HFMF is 0.92, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

HFGM vs. HFMF - Dividend Comparison

HFGM's dividend yield for the trailing twelve months is around 9.96%, more than HFMF's 2.65% yield.

	TTM	2025
HFGM Unlimited HFGM Global Macro ETF	9.96%	11.23%
HFMF Unlimited HFMF Managed Futures ETF	2.65%	2.97%

Drawdowns

HFGM vs. HFMF - Drawdown Comparison

The maximum HFGM drawdown since its inception was -10.66%, which is greater than HFMF's maximum drawdown of -7.77%. Use the drawdown chart below to compare losses from any high point for HFGM and HFMF.

Drawdown Indicators

	HFGM	HFMF	Difference
Max Drawdown Largest peak-to-trough decline	-10.66%	-7.77%	-2.89%
Current Drawdown Current decline from peak	-7.09%	-6.16%	-0.93%
Average Drawdown Average peak-to-trough decline	-2.34%	-1.73%	-0.61%

Volatility

Volatility by Period

	HFGM	HFMF	Difference
Volatility (1Y) Calculated over the trailing 1-year period	23.05%	17.61%	+5.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.05%	17.61%	+5.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.05%	17.61%	+5.44%