ISMF vs. JPFP

Last updated Jun 3, 2026

ISMF (iShares Managed Futures Active ETF) and JPFP (JPMorgan Managed Futures Plus ETF) are both Systematic Trend funds. Both are actively managed. At a correlation of -0.50, they often move in opposite directions. ISMF charges 0.80%/yr vs 0.59%/yr for JPFP.

Performance

ISMF vs. JPFP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Managed Futures Active ETF (ISMF) and JPMorgan Managed Futures Plus ETF (JPFP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ISMF

• 1D: 0.12%
• 1M: 0.89%
• YTD: 7.48%
• 6M: 10.36%
• 1Y: 21.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JPFP

• 1D: 0.68%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ISMF vs. JPFP - Yearly Performance Comparison

	2026 (YTD)
ISMF iShares Managed Futures Active ETF	0.24%
JPFP JPMorgan Managed Futures Plus ETF	1.85%

Correlation

The correlation between ISMF and JPFP is -0.50, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 29, 2026	-0.50

Return for Risk

ISMF vs. JPFP — Risk / Return Rank

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

ISMF

ISMF Risk / Return Rank: 86
ISMF Sharpe Ratio Rank: 82
ISMF Sortino Ratio Rank: 81
ISMF Omega Ratio Rank: 89
ISMF Calmar Ratio Rank: 89
ISMF Martin Ratio Rank: 87

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.

ISMF vs. JPFP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Managed Futures Active ETF (ISMF) and JPMorgan Managed Futures Plus ETF (JPFP). 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.

	ISMF	JPFP	Difference
Sharpe ratio Return per unit of total volatility	2.71	—	—
Sortino ratio Return per unit of downside risk	3.69	—	—
Omega ratio Gain probability vs. loss probability	1.57	—	—
Calmar ratio Return relative to maximum drawdown	5.46	—	—
Martin ratio Return relative to average drawdown	18.89	—	—
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

	ISMF	JPFP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.71	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.08	113.67	-111.59

Drawdowns

ISMF vs. JPFP - Drawdown Comparison

The maximum ISMF drawdown since its inception was -4.23%, which is greater than JPFP's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for ISMF and JPFP.

Drawdown Indicators

	ISMF	JPFP	Difference
Max Drawdown Largest peak-to-trough decline	-4.23%	0.00%	-4.23%
Max Drawdown (1Y) Largest decline over 1 year	-3.94%	—	—
Current Drawdown Current decline from peak	-0.81%	0.00%	-0.81%
Average Drawdown Average peak-to-trough decline	-1.28%	0.00%	-1.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.14%	—	—

Volatility

Volatility by Period

	ISMF	JPFP	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.72%	—	—
Volatility (6M) Calculated over the trailing 6-month period	6.29%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	7.88%	3.95%	+3.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.76%	3.95%	+3.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.76%	3.95%	+3.81%

ISMF vs. JPFP - Expense Ratio Comparison

ISMF has a 0.80% expense ratio, which is higher than JPFP's 0.59% expense ratio.

Dividends

ISMF vs. JPFP - Dividend Comparison

ISMF's dividend yield for the trailing twelve months is around 5.80%, while JPFP has not paid dividends to shareholders.

Position	TTM	2025
ISMF iShares Managed Futures Active ETF	5.80%	6.23%
JPFP JPMorgan Managed Futures Plus ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both ISMF and JPFP in my portfolio?

ISMF and JPFP have a correlation of -0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ISMF or JPFP?

On fees, JPFP is cheaper at 0.59% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ISMF or JPFP?

JPFP is cheaper with a 0.59% expense ratio, compared with 0.80% for ISMF.

Which ETF pays a higher dividend yield, ISMF or JPFP?

ISMF has the higher dividend yield at 5.80%, compared with 0.00% for JPFP.

What is the main difference between ISMF and JPFP?

They also come from different issuers: iShares and JPMorgan. Their fees differ too: 0.80% for ISMF and 0.59% for JPFP.