PMBS vs. FFUT

Last updated Jun 4, 2026

PMBS (PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund) and FFUT (Fidelity Managed Futures ETF) are both exchange-traded funds - PMBS is a Mortgage Backed Securities fund actively managed by PIMCO, while FFUT is a Systematic Trend fund actively managed by Fidelity. Both are actively managed. At a correlation of -0.33, they often move in opposite directions. PMBS charges 0.71%/yr vs 0.80%/yr for FFUT.

Performance

PMBS vs. FFUT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund (PMBS) and Fidelity Managed Futures ETF (FFUT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PMBS achieves a 0.90% return, which is significantly lower than FFUT's 12.74% return.

PMBS

• 1D: -0.21%
• 1M: 0.11%
• YTD: 0.90%
• 6M: 1.15%
• 1Y: 7.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FFUT

• 1D: -0.90%
• 1M: 1.16%
• YTD: 12.74%
• 6M: 14.35%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PMBS vs. FFUT - Yearly Performance Comparison

	2026 (YTD)	2025
PMBS PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund	0.90%	6.15%
FFUT Fidelity Managed Futures ETF	12.74%	8.26%

Correlation

The correlation between PMBS and FFUT is -0.33, 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 Jun 6, 2025	-0.33

Return for Risk

PMBS vs. FFUT — Risk / Return Rank

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

PMBS

PMBS Risk / Return Rank: 53
PMBS Sharpe Ratio Rank: 53
PMBS Sortino Ratio Rank: 56
PMBS Omega Ratio Rank: 53
PMBS Calmar Ratio Rank: 52
PMBS Martin Ratio Rank: 52

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.

PMBS vs. FFUT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund (PMBS) and Fidelity Managed Futures ETF (FFUT). 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.

	PMBS	FFUT	Difference
Sharpe ratio: Return per unit of total volatility	1.80	—	—
Sortino ratio: Return per unit of downside risk	2.66	—	—
Omega ratio: Gain probability vs. loss probability	1.33	—	—
Calmar ratio: Return relative to maximum drawdown	2.56	—	—
Martin ratio: Return relative to average drawdown	8.70	—	—
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

	PMBS	FFUT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.80	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.83	2.01	-1.18

Drawdowns

PMBS vs. FFUT - Drawdown Comparison

The maximum PMBS drawdown since its inception was -4.35%, which is greater than FFUT's maximum drawdown of -2.84%. Use the drawdown chart below to compare losses from any high point for PMBS and FFUT.

Drawdown Indicators

	PMBS	FFUT	Difference
Max Drawdown Largest peak-to-trough decline	-4.35%	-2.84%	-1.51%
Max Drawdown (1Y) Largest decline over 1 year	-2.97%	—	—
Current Drawdown Current decline from peak	-1.55%	-0.90%	-0.65%
Average Drawdown Average peak-to-trough decline	-1.14%	-0.88%	-0.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.87%	—	—

Volatility

Volatility by Period

	PMBS	FFUT	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.52%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.10%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	4.22%	11.17%	-6.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.88%	11.17%	-6.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.88%	11.17%	-6.29%

PMBS vs. FFUT - Expense Ratio Comparison

PMBS has a 0.71% expense ratio, which is lower than FFUT's 0.80% expense ratio.

Dividends

PMBS vs. FFUT - Dividend Comparison

PMBS's dividend yield for the trailing twelve months is around 4.98%, more than FFUT's 1.85% yield.

Position	TTM	2025	2024
FFUT Fidelity Managed Futures ETF	1.85%	2.09%	0.00%
PMBS PIMCO Mortgage-Backed Securities Active Exchange-Traded Fund	4.98%	4.73%	1.59%

Frequently Asked Questions

Can I hold both PMBS and FFUT in my portfolio?

PMBS and FFUT have a correlation of -0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PMBS or FFUT?

On fees, PMBS is cheaper at 0.71% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PMBS or FFUT?

PMBS is cheaper with a 0.71% expense ratio, compared with 0.80% for FFUT.

Which ETF pays a higher dividend yield, PMBS or FFUT?

PMBS has the higher dividend yield at 4.98%, compared with 1.85% for FFUT.

What is the main difference between PMBS and FFUT?

PMBS is categorized as Mortgage Backed Securities, while FFUT is Systematic Trend. They also come from different issuers: PIMCO and Fidelity. Their fees differ too: 0.71% for PMBS and 0.80% for FFUT.