WXET vs. FMF
WXET (Teucrium 2x Daily Wheat ETF) and FMF (First Trust Managed Futures Strategy Fund) are both exchange-traded funds - WXET is a Leveraged Commodities fund actively managed by Teucrium, while FMF is a Systematic Trend fund actively managed by First Trust. Both are actively managed. Over the past year, WXET returned 13.99% vs 15.06% for FMF. Their -0.19 correlation means they have often moved in opposite directions in the past. Both charge a 0.95% expense ratio.
Performance
WXET vs. FMF - Performance Comparison
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Returns By Period
In the year-to-date period, WXET achieves a 36.38% return, which is significantly higher than FMF's 7.57% return.
WXET
- 1D
- -7.53%
- 1M
- 12.13%
- 6M
- 20.77%
- YTD
- 36.38%
- 1Y
- 13.99%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -10.00%
FMF
- 1D
- 0.30%
- 1M
- 1.46%
- 6M
- 5.09%
- YTD
- 7.57%
- 1Y
- 15.06%
- 3Y*
- 5.15%
- 5Y*
- 4.42%
- 10Y*
- 2.77%
- ALL TIME*
- 1.85%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.63M | $1.43M | $2.63M | |
| $349.23K | $373.64K | $493.96K |
WXET vs. FMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
WXET Teucrium 2x Daily Wheat ETF | 36.38% | -37.99% | -0.40% |
FMF First Trust Managed Futures Strategy Fund | 7.57% | 4.54% | 0.01% |
Correlation
The correlation between WXET and FMF is -0.10, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.10 |
Correlation (All Time) Calculated using the full available price history since Dec 13, 2024 | -0.19 |
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Return for Risk
WXET vs. FMF — Risk / Return Rank
WXET
FMF
WXET vs. FMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Teucrium 2x Daily Wheat ETF (WXET) and First Trust Managed Futures Strategy Fund (FMF). 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.
| WXET | FMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.32 | ||
| Sortino ratioReturn per unit of downside risk | -1.50 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.28 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.36 | 3.23 | -2.88 |
| Martin ratioReturn relative to average drawdown | 0.84 | 8.80 | -7.96 |
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Drawdowns
WXET vs. FMF - Drawdown Comparison
The maximum WXET drawdown since its inception was -48.31%, which is greater than FMF's maximum drawdown of -22.21%. Use the drawdown chart below to compare losses from any high point for WXET and FMF.
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Drawdown Indicators
| WXET | FMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.31% | -22.21% | -26.10% |
Max Drawdown (1Y)Largest decline over 1 year | -30.76% | -4.51% | -26.25% |
Max Drawdown (3Y)Largest decline over 3 years | — | -7.25% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -14.98% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -16.89% | — |
Current DrawdownCurrent decline from peak | -29.50% | -3.12% | -26.38% |
Average DrawdownAverage peak-to-trough decline | -30.49% | -9.77% | -20.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.29% | 1.65% | +11.64% |
Volatility
WXET vs. FMF - Volatility Comparison
Teucrium 2x Daily Wheat ETF (WXET) has a higher volatility of 21.37% compared to First Trust Managed Futures Strategy Fund (FMF) at 3.03%. This indicates that WXET's price experiences larger fluctuations and is considered to be riskier than FMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WXET | FMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 21.37% | 3.03% | +18.34% |
Volatility (6M)Calculated over the trailing 6-month period | 44.27% | 7.51% | +36.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 51.52% | 9.56% | +41.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 49.83% | 10.73% | +39.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.83% | 11.55% | +38.28% |
WXET vs. FMF - Expense Ratio Comparison
Both WXET and FMF have an expense ratio of 0.95%.
Dividends
WXET vs. FMF - Dividend Comparison
WXET's dividend yield for the trailing twelve months is around 1.74%, less than FMF's 5.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FMF First Trust Managed Futures Strategy Fund | 5.03% | 5.60% | 4.85% | 3.09% | 0.41% | 3.29% | 0.02% | 1.05% | 1.56% | 0.82% |
WXET Teucrium 2x Daily Wheat ETF | 1.74% | 3.57% | 0.13% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
WXET and FMF have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WXET has higher volatility (21.37%) compared to FMF (3.03%). In terms of maximum drawdown, WXET dropped -48.31% vs FMF's -22.21%.
On 1-year performance, FMF leads with 15.06% vs 13.99% for WXET. Both ETFs have the same 0.95% expense ratio. On volatility, FMF has been the lower-risk option at 3.03%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, FMF has performed better with a 15.06% return vs 13.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
WXET and FMF have the same expense ratio: 0.95% per year.
FMF has the higher dividend yield at 5.03%, compared with 1.74% for WXET.
WXET is categorized as Leveraged Commodities, while FMF is Systematic Trend. They also come from different issuers: Teucrium and First Trust.
FMF currently has the higher Sharpe Ratio (1.53 vs 0.21), 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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