MFUT vs. IBHE

Last updated Jun 24, 2026

MFUT (Cambria Chesapeake Pure Trend ETF) and IBHE (iShares iBonds 2025 Term High Yield & Income ETF) are both exchange-traded funds - MFUT is a Systematic Trend fund actively managed by Cambria, while IBHE is a High Yield Bonds fund tracking the Bloomberg 2025 Term High Yield and Income Index. MFUT is actively managed, while IBHE is passively managed. Over the past year, MFUT returned 28.61% vs 1.96% for IBHE. At a 0.07 correlation, their price movements are largely independent. MFUT charges 1.18%/yr vs 0.35%/yr for IBHE.

Performance

MFUT vs. IBHE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Cambria Chesapeake Pure Trend ETF (MFUT) and iShares iBonds 2025 Term High Yield & Income ETF (IBHE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MFUT

• 1D: -2.52%
• 1M: -4.70%
• YTD: 13.81%
• 6M: 12.83%
• 1Y: 28.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBHE

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.00%
• 1Y: 1.96%
• 3Y*: 5.93%
• 5Y*: 3.89%
• 10Y*: —

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

MFUT vs. IBHE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MFUT Cambria Chesapeake Pure Trend ETF	13.81%	-1.83%	-16.64%
IBHE iShares iBonds 2025 Term High Yield & Income ETF	0.00%	4.45%	4.14%

Correlation

The correlation between MFUT and IBHE 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 (1Y) Calculated over the trailing 1-year period	-0.09
Correlation (All Time) Calculated using the full available price history since May 29, 2024	0.07

The correlation between MFUT and IBHE shifts across timeframes, from -0.09 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MFUT vs. IBHE — Risk / Return Rank

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

MFUT

MFUT Risk / Return Rank: 61
MFUT Sharpe Ratio Rank: 62
MFUT Sortino Ratio Rank: 53
MFUT Omega Ratio Rank: 68
MFUT Calmar Ratio Rank: 66
MFUT Martin Ratio Rank: 57

IBHE

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

MFUT vs. IBHE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Cambria Chesapeake Pure Trend ETF (MFUT) and iShares iBonds 2025 Term High Yield & Income ETF (IBHE). 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.

	MFUT	IBHE	Difference
Sharpe ratio: Return per unit of total volatility	1.91	3.89	-1.98
Sortino ratio: Return per unit of downside risk	2.39	7.42	-5.03
Omega ratio: Gain probability vs. loss probability	1.37	2.32	-0.94
Calmar ratio: Return relative to maximum drawdown	3.11	25.02	-21.91
Martin ratio: Return relative to average drawdown	9.35	98.47	-89.12

MFUT vs. IBHE - Sharpe Ratio Comparison

The current MFUT Sharpe Ratio is 1.91, which is lower than the IBHE Sharpe Ratio of 3.89. The chart below compares the historical Sharpe Ratios of MFUT and IBHE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MFUT vs. IBHE - Drawdown Comparison

The maximum MFUT drawdown since its inception was -29.28%, which is greater than IBHE's maximum drawdown of -26.91%. Use the drawdown chart below to compare losses from any high point for MFUT and IBHE.

Drawdown Indicators

	MFUT	IBHE	Difference
Max Drawdown Largest peak-to-trough decline	-29.28%	-26.91%	-2.37%
Max Drawdown (1Y) Largest decline over 1 year	-9.23%	-0.11%	-9.12%
Max Drawdown (3Y) Largest decline over 3 years	—	-0.94%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-8.51%	—
Current Drawdown Current decline from peak	-7.52%	0.00%	-7.52%
Average Drawdown Average peak-to-trough decline	-16.28%	-1.42%	-14.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.07%	0.05%	+3.02%

Volatility

MFUT vs. IBHE - Volatility Comparison

Cambria Chesapeake Pure Trend ETF (MFUT) has a higher volatility of 4.28% compared to iShares iBonds 2025 Term High Yield & Income ETF (IBHE) at 0.00%. This indicates that MFUT's price experiences larger fluctuations and is considered to be riskier than IBHE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MFUT	IBHE	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.28%	0.00%	+4.28%
Volatility (6M) Calculated over the trailing 6-month period	13.11%	0.38%	+12.73%
Volatility (1Y) Calculated over the trailing 1-year period	15.05%	0.74%	+14.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.49%	4.87%	+8.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.49%	11.52%	+1.97%

MFUT vs. IBHE - Expense Ratio Comparison

MFUT has a 1.18% expense ratio, which is higher than IBHE's 0.35% expense ratio.

Dividends

MFUT vs. IBHE - Dividend Comparison

Neither MFUT nor IBHE has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
IBHE iShares iBonds 2025 Term High Yield & Income ETF	2.29%	4.53%	6.92%	7.17%	5.77%	4.84%	5.74%	3.73%
MFUT Cambria Chesapeake Pure Trend ETF	0.00%	0.00%	0.33%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MFUT and IBHE in my portfolio?

MFUT and IBHE 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 is riskier, MFUT or IBHE?

MFUT has higher volatility (4.28%) compared to IBHE (0.00%). In terms of maximum drawdown, MFUT dropped -29.28% vs IBHE's -26.91%.

Which ETF is better, MFUT or IBHE?

On 1-year performance, MFUT leads with 28.61% vs 1.96% for IBHE. On fees, IBHE is cheaper at 0.35% per year. On volatility, IBHE has been the lower-risk option at 0.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MFUT or IBHE?

Over the 1-year period, MFUT has performed better with a 28.61% return vs 1.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MFUT or IBHE?

IBHE is cheaper with a 0.35% expense ratio, compared with 1.18% for MFUT.

Which ETF pays a higher dividend yield, MFUT or IBHE?

IBHE has the higher dividend yield at 2.29%, compared with 0.00% for MFUT.

What is the main difference between MFUT and IBHE?

MFUT is categorized as Systematic Trend, while IBHE is High Yield Bonds. They also come from different issuers: Cambria and iShares. Their fees differ too: 1.18% for MFUT and 0.35% for IBHE.

Which has better risk-adjusted returns?

IBHE currently has the higher Sharpe Ratio (3.89 vs 1.91), 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.