HFMF vs. FFUT

Last updated Apr 1, 2026

Compare and contrast key facts about Unlimited HFMF Managed Futures ETF (HFMF) and Fidelity Managed Futures ETF (FFUT).

HFMF and FFUT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HFMF is an actively managed fund by Unlimited. It was launched on Jul 14, 2025. FFUT is an actively managed fund by Fidelity. It was launched on Jun 3, 2025.

Performance

HFMF vs. FFUT - Performance Comparison

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

HFMF vs. FFUT - Yearly Performance Comparison

	2026 (YTD)	2025
HFMF Unlimited HFMF Managed Futures ETF	11.75%	6.34%
FFUT Fidelity Managed Futures ETF	7.42%	7.80%

Returns By Period

In the year-to-date period, HFMF achieves a 11.75% return, which is significantly higher than FFUT's 7.42% return.

HFMF

• 1D: 1.40%
• 1M: -1.69%
• YTD: 11.75%
• 6M: 12.93%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 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)

HFMF vs. FFUT - Expense Ratio Comparison

HFMF has a 0.97% expense ratio, which is higher than FFUT's 0.80% expense ratio.

HFMF

Unlimited HFMF Managed Futures ETF

FFUT

Fidelity Managed Futures ETF

Return for Risk

HFMF vs. FFUT - Risk-Adjusted Trends Comparison

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

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

Sharpe Ratios by Period

	HFMF	FFUT	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.56	1.86	-0.29

Correlation

The correlation between HFMF and FFUT is 0.31, 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

HFMF vs. FFUT - Dividend Comparison

HFMF's dividend yield for the trailing twelve months is around 2.66%, more than FFUT's 1.95% yield.

	TTM	2025
HFMF Unlimited HFMF Managed Futures ETF	2.66%	2.97%
FFUT Fidelity Managed Futures ETF	1.95%	2.09%

Drawdowns

HFMF vs. FFUT - Drawdown Comparison

The maximum HFMF drawdown since its inception was -7.77%, which is greater than FFUT's maximum drawdown of -2.84%. Use the drawdown chart below to compare losses from any high point for HFMF and FFUT.

Drawdown Indicators

	HFMF	FFUT	Difference
Max Drawdown Largest peak-to-trough decline	-7.77%	-2.84%	-4.93%
Current Drawdown Current decline from peak	-6.48%	-1.59%	-4.89%
Average Drawdown Average peak-to-trough decline	-1.70%	-0.89%	-0.81%

Volatility

Volatility by Period

	HFMF	FFUT	Difference
Volatility (1Y) Calculated over the trailing 1-year period	17.66%	11.01%	+6.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.66%	11.01%	+6.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.66%	11.01%	+6.65%