MKTN vs. FFLS

Last updated Jun 25, 2026

MKTN (Federated Hermes MDT Market Neutral ETF) and FFLS (The Future Fund Long/Short ETF) are both Long-Short funds. Both are actively managed. At a correlation of -0.06, they often move in opposite directions.

Performance

MKTN vs. FFLS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes MDT Market Neutral ETF (MKTN) and The Future Fund Long/Short ETF (FFLS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MKTN achieves a 0.57% return, which is significantly higher than FFLS's -2.07% return.

MKTN

• 1D: 0.43%
• 1M: 0.32%
• YTD: 0.57%
• 6M: 0.65%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FFLS

• 1D: 0.33%
• 1M: -0.31%
• YTD: -2.07%
• 6M: -1.85%
• 1Y: -3.14%
• 3Y*: 8.35%
• 5Y*: —
• 10Y*: —

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

MKTN vs. FFLS - Yearly Performance Comparison

	2026 (YTD)	2025
MKTN Federated Hermes MDT Market Neutral ETF	0.57%	3.22%
FFLS The Future Fund Long/Short ETF	-2.07%	-3.36%

Correlation

The correlation between MKTN and FFLS is -0.06, 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 (All Time) Calculated using the full available price history since Sep 25, 2025	-0.06

Return for Risk

MKTN vs. FFLS — Risk / Return Rank

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

MKTN

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

FFLS

FFLS Risk / Return Rank: 6
FFLS Sharpe Ratio Rank: 6
FFLS Sortino Ratio Rank: 6
FFLS Omega Ratio Rank: 6
FFLS Calmar Ratio Rank: 7
FFLS Martin Ratio Rank: 6

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.

MKTN vs. FFLS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes MDT Market Neutral ETF (MKTN) and The Future Fund Long/Short ETF (FFLS). 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.

	MKTN	FFLS	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.33	—
Sortino ratio: Return per unit of downside risk	—	-0.39	—
Omega ratio: Gain probability vs. loss probability	—	0.95	—
Calmar ratio: Return relative to maximum drawdown	—	-0.29	—
Martin ratio: Return relative to average drawdown	—	-0.59	—

Drawdowns

MKTN vs. FFLS - Drawdown Comparison

The maximum MKTN drawdown since its inception was -4.13%, smaller than the maximum FFLS drawdown of -11.05%. Use the drawdown chart below to compare losses from any high point for MKTN and FFLS.

Drawdown Indicators

	MKTN	FFLS	Difference
Max Drawdown Largest peak-to-trough decline	-4.13%	-11.05%	+6.92%
Max Drawdown (1Y) Largest decline over 1 year	—	-11.05%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-11.05%	—
Current Drawdown Current decline from peak	-1.34%	-6.68%	+5.34%
Average Drawdown Average peak-to-trough decline	-1.20%	-3.17%	+1.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.31%	—

Volatility

Volatility by Period

	MKTN	FFLS	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.43%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.92%	—
Volatility (1Y) Calculated over the trailing 1-year period	6.74%	9.69%	-2.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.74%	11.39%	-4.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.74%	11.39%	-4.65%

Dividends

MKTN vs. FFLS - Dividend Comparison

MKTN's dividend yield for the trailing twelve months is around 0.51%, less than FFLS's 6.72% yield.

Position	TTM	2025	2024
FFLS The Future Fund Long/Short ETF	6.72%	6.58%	3.34%
MKTN Federated Hermes MDT Market Neutral ETF	0.51%	0.51%	0.00%

Frequently Asked Questions

Can I hold both MKTN and FFLS in my portfolio?

MKTN and FFLS have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF pays a higher dividend yield, MKTN or FFLS?

FFLS has the higher dividend yield at 6.72%, compared with 0.51% for MKTN.

What is the main difference between MKTN and FFLS?

They also come from different issuers: Federated Hermes and The Future Fund.