JPFP vs. HFMF

Last updated Jun 4, 2026

JPFP (JPMorgan Managed Futures Plus ETF) and HFMF (Unlimited HFMF Managed Futures ETF) are both Systematic Trend funds. Both are actively managed. Their correlation of 0.80 suggests significant overlap in exposure. JPFP charges 0.59%/yr vs 0.97%/yr for HFMF.

Performance

JPFP vs. HFMF - Performance Comparison

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

Returns By Period

JPFP

• 1D: -0.76%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HFMF

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

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

JPFP vs. HFMF - Yearly Performance Comparison

	2026 (YTD)
JPFP JPMorgan Managed Futures Plus ETF	1.07%
HFMF Unlimited HFMF Managed Futures ETF	-0.56%

Correlation

The correlation between JPFP and HFMF is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 29, 2026	0.80

Return for Risk

JPFP vs. HFMF - Risk-Adjusted Trends Comparison

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

	JPFP	HFMF	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	9.75	0.99	+8.76

Drawdowns

JPFP vs. HFMF - Drawdown Comparison

The maximum JPFP drawdown since its inception was -0.76%, smaller than the maximum HFMF drawdown of -10.00%. Use the drawdown chart below to compare losses from any high point for JPFP and HFMF.

Drawdown Indicators

	JPFP	HFMF	Difference
Max Drawdown Largest peak-to-trough decline	-0.76%	-10.00%	+9.24%
Current Drawdown Current decline from peak	-0.76%	-9.89%	+9.13%
Average Drawdown Average peak-to-trough decline	-0.19%	-2.86%	+2.67%

Volatility

Volatility by Period

	JPFP	HFMF	Difference
Volatility (1Y) Calculated over the trailing 1-year period	11.39%	16.79%	-5.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.39%	16.79%	-5.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.39%	16.79%	-5.40%

JPFP vs. HFMF - Expense Ratio Comparison

JPFP has a 0.59% expense ratio, which is lower than HFMF's 0.97% expense ratio.

Dividends

JPFP vs. HFMF - Dividend Comparison

JPFP has not paid dividends to shareholders, while HFMF's dividend yield for the trailing twelve months is around 2.76%.

Position	TTM	2025
HFMF Unlimited HFMF Managed Futures ETF	2.76%	2.97%
JPFP JPMorgan Managed Futures Plus ETF	0.00%	0.00%

Frequently Asked Questions

Can I hold both JPFP and HFMF in my portfolio?

JPFP and HFMF have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, JPFP or HFMF?

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, JPFP or HFMF?

JPFP is cheaper with a 0.59% expense ratio, compared with 0.97% for HFMF.

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

HFMF has the higher dividend yield at 2.76%, compared with 0.00% for JPFP.

What is the main difference between JPFP and HFMF?

They also come from different issuers: JPMorgan and Unlimited. Their fees differ too: 0.59% for JPFP and 0.97% for HFMF.