HFMF vs. MARB

Last updated Jun 4, 2026

HFMF (Unlimited HFMF Managed Futures ETF) and MARB (First Trust Merger Arbitrage ETF) are both exchange-traded funds - HFMF is a Systematic Trend fund actively managed by Unlimited, while MARB is a Long-Short fund actively managed by First Trust. Both are actively managed. At a correlation of -0.09, they often move in opposite directions. HFMF charges 0.97%/yr vs 2.30%/yr for MARB.

Performance

HFMF vs. MARB - Performance Comparison

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

Returns By Period

In the year-to-date period, HFMF achieves a 7.67% return, which is significantly higher than MARB's 1.26% return.

HFMF

• 1D: -0.58%
• 1M: -2.87%
• YTD: 7.67%
• 6M: 8.74%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MARB

• 1D: 0.05%
• 1M: 0.22%
• YTD: 1.26%
• 6M: 1.42%
• 1Y: 6.18%
• 3Y*: 4.29%
• 5Y*: 2.64%
• 10Y*: —

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

HFMF vs. MARB - Yearly Performance Comparison

	2026 (YTD)	2025
HFMF Unlimited HFMF Managed Futures ETF	7.67%	6.34%
MARB First Trust Merger Arbitrage ETF	1.26%	3.47%

Correlation

The correlation between HFMF and MARB is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 16, 2025	-0.09

Return for Risk

HFMF vs. MARB — Risk / Return Rank

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

MARB

MARB Risk / Return Rank: 52
MARB Sharpe Ratio Rank: 32
MARB Sortino Ratio Rank: 34
MARB Omega Ratio Rank: 51
MARB Calmar Ratio Rank: 52
MARB Martin Ratio Rank: 90

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.

HFMF vs. MARB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Unlimited HFMF Managed Futures ETF (HFMF) and First Trust Merger Arbitrage ETF (MARB). 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	MARB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.17	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.62	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.99	0.36	+0.63

Drawdowns

HFMF vs. MARB - Drawdown Comparison

The maximum HFMF drawdown since its inception was -10.00%, smaller than the maximum MARB drawdown of -11.99%. Use the drawdown chart below to compare losses from any high point for HFMF and MARB.

Drawdown Indicators

	HFMF	MARB	Difference
Max Drawdown Largest peak-to-trough decline	-10.00%	-11.99%	+1.99%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.43%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-3.67%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-3.67%	—
Current Drawdown Current decline from peak	-9.89%	-0.00%	-9.89%
Average Drawdown Average peak-to-trough decline	-2.86%	-1.40%	-1.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.30%	—

Volatility

Volatility by Period

	HFMF	MARB	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.47%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.18%	—
Volatility (1Y) Calculated over the trailing 1-year period	16.79%	5.31%	+11.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.79%	4.27%	+12.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.79%	5.60%	+11.19%

HFMF vs. MARB - Expense Ratio Comparison

HFMF has a 0.97% expense ratio, which is lower than MARB's 2.30% expense ratio.

Dividends

HFMF vs. MARB - Dividend Comparison

HFMF's dividend yield for the trailing twelve months is around 2.76%, less than MARB's 2.98% yield.

Position	TTM	2025	2024	2023	2022
HFMF Unlimited HFMF Managed Futures ETF	2.76%	2.97%	0.00%	0.00%	0.00%
MARB First Trust Merger Arbitrage ETF	2.98%	3.01%	2.11%	2.20%	0.99%

Frequently Asked Questions

Can I hold both HFMF and MARB in my portfolio?

HFMF and MARB have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, HFMF or MARB?

On fees, HFMF is cheaper at 0.97% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, HFMF or MARB?

HFMF is cheaper with a 0.97% expense ratio, compared with 2.30% for MARB.

Which ETF pays a higher dividend yield, HFMF or MARB?

MARB has the higher dividend yield at 2.98%, compared with 2.76% for HFMF.

What is the main difference between HFMF and MARB?

HFMF is categorized as Systematic Trend, while MARB is Long-Short. They also come from different issuers: Unlimited and First Trust. Their fees differ too: 0.97% for HFMF and 2.30% for MARB.