IMF vs. FFUT
IMF (Invesco Managed Futures Strategy ETF) and FFUT (Fidelity Managed Futures ETF) are both Systematic Trend funds. Both are actively managed. Over the past year, IMF returned 20.19% vs 18.72% for FFUT. At a 0.45 correlation, their price movements are largely independent. IMF charges 0.65%/yr vs 0.80%/yr for FFUT.
Performance
IMF vs. FFUT - Performance Comparison
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Returns By Period
In the year-to-date period, IMF achieves a 11.36% return, which is significantly higher than FFUT's 8.83% return.
IMF
- 1D
- -0.87%
- 1M
- -2.28%
- YTD
- 11.36%
- 6M
- 11.56%
- 1Y
- 20.19%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FFUT
- 1D
- -0.36%
- 1M
- -2.69%
- YTD
- 8.83%
- 6M
- 9.28%
- 1Y
- 18.72%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IMF vs. FFUT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IMF Invesco Managed Futures Strategy ETF | 11.36% | 5.20% |
FFUT Fidelity Managed Futures ETF | 8.83% | 8.58% |
Correlation
The correlation between IMF and FFUT is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.46 |
Correlation (All Time) Calculated using the full available price history since Jun 5, 2025 | 0.45 |
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Return for Risk
IMF vs. FFUT — Risk / Return Rank
IMF
FFUT
IMF vs. FFUT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Managed Futures Strategy ETF (IMF) 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.
| IMF | FFUT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.27 | ||
| Sortino ratioReturn per unit of downside risk | +0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.32 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 5.65 | 4.35 | +1.30 |
| Martin ratioReturn relative to average drawdown | 16.14 | 14.55 | +1.58 |
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Drawdowns
IMF vs. FFUT - Drawdown Comparison
The maximum IMF drawdown since its inception was -15.29%, which is greater than FFUT's maximum drawdown of -4.33%. Use the drawdown chart below to compare losses from any high point for IMF and FFUT.
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Drawdown Indicators
| IMF | FFUT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.29% | -4.33% | -10.96% |
Max Drawdown (1Y)Largest decline over 1 year | -3.59% | -4.33% | +0.74% |
Current DrawdownCurrent decline from peak | -3.18% | -4.33% | +1.15% |
Average DrawdownAverage peak-to-trough decline | -8.30% | -0.96% | -7.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.25% | 1.29% | -0.04% |
Volatility
IMF vs. FFUT - Volatility Comparison
The current volatility for Invesco Managed Futures Strategy ETF (IMF) is 2.58%, while Fidelity Managed Futures ETF (FFUT) has a volatility of 2.93%. This indicates that IMF experiences smaller price fluctuations and is considered to be less risky than FFUT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IMF | FFUT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.58% | 2.93% | -0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 9.20% | 8.97% | +0.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.43% | 11.22% | -0.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.39% | 11.02% | +1.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.39% | 11.02% | +1.37% |
IMF vs. FFUT - Expense Ratio Comparison
IMF has a 0.65% expense ratio, which is lower than FFUT's 0.80% expense ratio.
Dividends
IMF vs. FFUT - Dividend Comparison
IMF's dividend yield for the trailing twelve months is around 0.91%, less than FFUT's 1.92% yield.
| Position | TTM | 2025 |
|---|---|---|
FFUT Fidelity Managed Futures ETF | 1.92% | 2.09% |
IMF Invesco Managed Futures Strategy ETF | 0.91% | 1.01% |
Frequently Asked Questions
IMF and FFUT have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FFUT has higher volatility (2.93%) compared to IMF (2.58%). In terms of maximum drawdown, IMF dropped -15.29% vs FFUT's -4.33%.
On 1-year performance, IMF leads with 20.19% vs 18.72% for FFUT. On fees, IMF is cheaper at 0.65% per year. On volatility, IMF has been the lower-risk option at 2.58%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IMF has performed better with a 20.19% return vs 18.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IMF is cheaper with a 0.65% expense ratio, compared with 0.80% for FFUT.
FFUT has the higher dividend yield at 1.92%, compared with 0.91% for IMF.
They also come from different issuers: Invesco and Fidelity. Their fees differ too: 0.65% for IMF and 0.80% for FFUT.
IMF currently has the higher Sharpe Ratio (1.95 vs 1.68), 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.
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