PUI vs. FFUT

Last updated Jul 17, 2026

PUI (Invesco DWA Utilities Momentum ETF) and FFUT (Fidelity Managed Futures ETF) are both exchange-traded funds - PUI is a Momentum fund tracking the DWA Utilities Technical Leaders Index, while FFUT is a Systematic Trend fund actively managed by Fidelity. PUI is passively managed, while FFUT is actively managed. Over the past year, PUI returned 14.39% vs 22.22% for FFUT. At a correlation of -0.09, they often move in opposite directions. PUI charges 0.60%/yr vs 0.80%/yr for FFUT.

Performance

PUI vs. FFUT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco DWA Utilities Momentum ETF (PUI) 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, PUI achieves a 8.48% return, which is significantly lower than FFUT's 13.13% return.

PUI

• 1D: -0.11%
• 1M: 0.27%
• 6M: 5.47%
• YTD: 8.48%
• 1Y: 14.39%
• 3Y*: 15.22%
• 5Y*: 9.00%
• 10Y*: 8.02%

FFUT

• 1D: 1.33%
• 1M: 3.31%
• 6M: 8.88%
• YTD: 13.13%
• 1Y: 22.22%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PUI vs. FFUT - Yearly Performance Comparison

	2026 (YTD)	2025
PUI Invesco DWA Utilities Momentum ETF	8.48%	6.79%
FFUT Fidelity Managed Futures ETF	13.13%	8.58%

Correlation

The correlation between PUI and FFUT 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 Jun 5, 2025	-0.09

Return for Risk

PUI vs. FFUT — Risk / Return Rank

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

PUI

PUI Risk / Return Rank: 30
PUI Sharpe Ratio Rank: 32
PUI Sortino Ratio Rank: 30
PUI Omega Ratio Rank: 29
PUI Calmar Ratio Rank: 31
PUI Martin Ratio Rank: 27

FFUT

FFUT Risk / Return Rank: 81
FFUT Sharpe Ratio Rank: 77
FFUT Sortino Ratio Rank: 78
FFUT Omega Ratio Rank: 79
FFUT Calmar Ratio Rank: 88
FFUT Martin Ratio Rank: 84

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.

PUI vs. FFUT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco DWA Utilities Momentum ETF (PUI) 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.

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.

	PUI	FFUT	Difference
Sharpe ratio: Return per unit of total volatility	0.96	1.95	-0.99
Sortino ratio: Return per unit of downside risk	1.37	2.77	-1.40
Omega ratio: Gain probability vs. loss probability	1.16	1.37	-0.21
Calmar ratio: Return relative to maximum drawdown	1.31	4.00	-2.69
Martin ratio: Return relative to average drawdown	2.94	13.36	-10.41

PUI vs. FFUT - Sharpe Ratio Comparison

The current PUI Sharpe Ratio is 0.96, which is lower than the FFUT Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of PUI and FFUT, 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

PUI vs. FFUT - Drawdown Comparison

The maximum PUI drawdown since its inception was -43.20%, which is greater than FFUT's maximum drawdown of -5.59%. Use the drawdown chart below to compare losses from any high point for PUI and FFUT.

Drawdown Indicators

	PUI	FFUT	Difference
Max Drawdown Largest peak-to-trough decline	-43.20%	-5.59%	-37.61%
Max Drawdown (1Y) Largest decline over 1 year	-11.07%	-5.59%	-5.48%
Max Drawdown (3Y) Largest decline over 3 years	-15.28%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-23.47%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-35.61%	—	—
Current Drawdown Current decline from peak	-3.38%	-0.55%	-2.83%
Average Drawdown Average peak-to-trough decline	-8.43%	-1.13%	-7.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.90%	1.67%	+3.23%

Volatility

PUI vs. FFUT - Volatility Comparison

Invesco DWA Utilities Momentum ETF (PUI) has a higher volatility of 3.69% compared to Fidelity Managed Futures ETF (FFUT) at 2.96%. This indicates that PUI's price experiences larger fluctuations and is considered to be riskier than FFUT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PUI	FFUT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.69%	2.96%	+0.73%
Volatility (6M) Calculated over the trailing 6-month period	11.01%	9.09%	+1.92%
Volatility (1Y) Calculated over the trailing 1-year period	15.01%	11.42%	+3.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.63%	10.97%	+5.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.07%	10.97%	+8.10%

PUI vs. FFUT - Expense Ratio Comparison

PUI has a 0.60% expense ratio, which is lower than FFUT's 0.80% expense ratio.

Dividends

PUI vs. FFUT - Dividend Comparison

PUI's dividend yield for the trailing twelve months is around 2.00%, more than FFUT's 1.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FFUT Fidelity Managed Futures ETF	1.85%	2.09%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PUI Invesco DWA Utilities Momentum ETF	2.00%	2.22%	2.06%	2.36%	2.16%	2.03%	2.42%	2.02%	1.87%	2.98%	3.35%	2.82%

Frequently Asked Questions

Can I hold both PUI and FFUT in my portfolio?

PUI and FFUT 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, PUI or FFUT?

PUI has higher volatility (3.69%) compared to FFUT (2.96%). In terms of maximum drawdown, PUI dropped -43.20% vs FFUT's -5.59%.

Which ETF is better, PUI or FFUT?

On 1-year performance, FFUT leads with 22.22% vs 14.39% for PUI. On fees, PUI is cheaper at 0.60% per year. On volatility, FFUT has been the lower-risk option at 2.96%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PUI or FFUT?

Over the 1-year period, FFUT has performed better with a 22.22% return vs 14.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PUI or FFUT?

PUI is cheaper with a 0.60% expense ratio, compared with 0.80% for FFUT.

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

PUI has the higher dividend yield at 2.00%, compared with 1.85% for FFUT.

What is the main difference between PUI and FFUT?

PUI is categorized as Momentum, while FFUT is Systematic Trend. They also come from different issuers: Invesco and Fidelity. Their fees differ too: 0.60% for PUI and 0.80% for FFUT.

Which has better risk-adjusted returns?

FFUT currently has the higher Sharpe Ratio (1.95 vs 0.96), 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.