MFTFX vs. IAU
MFTFX (Arrow Managed Futures Stragegy Fund) and IAU (iShares Gold Trust) are both funds - MFTFX is a Systematic Trend fund managed by Arrow Funds, while IAU is a Gold fund tracking the LBMA Gold Price. Over the past 10 years, MFTFX returned 5.94%/yr vs 12.71%/yr for IAU. At a 0.06 correlation, their price movements are largely independent. MFTFX charges 1.54%/yr vs 0.25%/yr for IAU.
Performance
MFTFX vs. IAU - Performance Comparison
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Returns By Period
In the year-to-date period, MFTFX achieves a 12.91% return, which is significantly higher than IAU's 0.26% return. Over the past 10 years, MFTFX has underperformed IAU with an annualized return of 5.94%, while IAU has yielded a comparatively higher 12.71% annualized return.
MFTFX
- 1D
- -2.95%
- 1M
- -0.72%
- YTD
- 12.91%
- 6M
- 21.02%
- 1Y
- 39.31%
- 3Y*
- 3.79%
- 5Y*
- 9.72%
- 10Y*
- 5.94%
IAU
- 1D
- 0.20%
- 1M
- -8.43%
- YTD
- 0.26%
- 6M
- 3.08%
- 1Y
- 30.27%
- 3Y*
- 29.88%
- 5Y*
- 17.71%
- 10Y*
- 12.71%
MFTFX vs. IAU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MFTFX Arrow Managed Futures Stragegy Fund | 12.91% | 9.29% | 6.87% | -13.57% | 57.88% | 2.13% | -4.13% | 15.17% | -19.70% | 19.09% |
IAU iShares Gold Trust | 0.26% | 63.95% | 26.85% | 12.84% | -0.63% | -4.00% | 25.03% | 17.98% | -1.76% | 12.91% |
Correlation
The correlation between MFTFX and IAU is 0.36, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.36 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Jun 1, 2010 | 0.06 |
Over the past year, MFTFX and IAU have become more correlated (0.36) than their long-term average of 0.06, meaning their price movements have been converging.
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Return for Risk
MFTFX vs. IAU — Risk / Return Rank
MFTFX
IAU
MFTFX vs. IAU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Arrow Managed Futures Stragegy Fund (MFTFX) and iShares Gold Trust (IAU). 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.
| MFTFX | IAU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.91 | ||
| Sortino ratioReturn per unit of downside risk | +1.12 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.23 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 4.13 | 1.52 | +2.62 |
| Martin ratioReturn relative to average drawdown | 11.58 | 3.80 | +7.78 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MFTFX | IAU | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.05 | 1.14 | +0.91 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.44 | 0.99 | -0.55 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.27 | 0.80 | -0.53 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.17 | 0.61 | -0.44 |
Drawdowns
MFTFX vs. IAU - Drawdown Comparison
The maximum MFTFX drawdown since its inception was -35.70%, smaller than the maximum IAU drawdown of -45.14%. Use the drawdown chart below to compare losses from any high point for MFTFX and IAU.
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Drawdown Indicators
| MFTFX | IAU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.70% | -45.14% | +9.44% |
Max Drawdown (1Y)Largest decline over 1 year | -9.83% | -20.04% | +10.21% |
Max Drawdown (3Y)Largest decline over 3 years | -32.57% | -20.04% | -12.53% |
Max Drawdown (5Y)Largest decline over 5 years | -32.57% | -20.93% | -11.64% |
Max Drawdown (10Y)Largest decline over 10 years | -35.70% | -21.82% | -13.88% |
Current DrawdownCurrent decline from peak | -3.89% | -19.88% | +15.99% |
Average DrawdownAverage peak-to-trough decline | -16.98% | -15.97% | -1.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.50% | 7.99% | -4.49% |
Volatility
MFTFX vs. IAU - Volatility Comparison
The current volatility for Arrow Managed Futures Stragegy Fund (MFTFX) is 5.14%, while iShares Gold Trust (IAU) has a volatility of 5.64%. This indicates that MFTFX experiences smaller price fluctuations and is considered to be less risky than IAU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MFTFX | IAU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.14% | 5.64% | -0.50% |
Volatility (6M)Calculated over the trailing 6-month period | 12.78% | 23.33% | -10.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.87% | 26.68% | -6.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.08% | 18.02% | +4.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.15% | 15.94% | +6.21% |
MFTFX vs. IAU - Expense Ratio Comparison
MFTFX has a 1.54% expense ratio, which is higher than IAU's 0.25% expense ratio.
Dividends
MFTFX vs. IAU - Dividend Comparison
Neither MFTFX nor IAU has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IAU iShares Gold Trust | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MFTFX Arrow Managed Futures Stragegy Fund | 0.00% | 0.00% | 0.00% | 11.75% | 41.04% | 2.30% | 0.00% | 20.00% | 7.84% | 2.12% | 9.36% | 1.21% |
Frequently Asked Questions
MFTFX and IAU have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IAU has higher volatility (5.64%) compared to MFTFX (5.14%). In terms of maximum drawdown, MFTFX dropped -35.70% vs IAU's -45.14%.
MFTFX currently has the higher Sharpe Ratio (2.05 vs 1.14), 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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