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Launched

The Future Fund Long/Short ETF

FFLSNYSE ArcaFuture FundD

$23.170.00 (0.00%)

As of Nov 2, 2026, 3:59 PM ET

D34/ 100

Rank 23 of 30 in Alternative Strategies

D34/100Rank 23 of 30inAlternative Strategies
Intraday session: flat, 77 prints from 23.17 to 23.17. Range 23.11 to 23.38. Use the arrow keys to read each point.23.1023.2523.3023.3510 AM12 PM2 PM4 PM
Expense ratio
2.05%
Fund size
$45M
1Y total return
−2.3%
Yield · Last 12 months
6.60%
Holdings
29
Avg volume · 30D
5.96K sh
52W range
low $21.43high $25.29
Launched

The ETF.net FFLS Grade

Based on 5 of 6 pillars

D

Score 34 out of 100

Category
Alternative Strategies⁠
Rank
23 of 30
Six-pillar profile for FFLS. Scores out of 100: Cost 17, Risk 47, Mission not scored, Tradability 52, Holdings 28, Durability 53. Strongest: Durability (53). Weakest: Cost (17). Based on 5 of 6 pillars.

Score 34 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F17 out of 100
    Rank 25 of 30

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C47 out of 100
    Rank 19 of 30

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C52 out of 100
    Rank 13 of 30

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    D28 out of 100
    Rank 17 of 17

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C53 out of 100
    Rank 16 of 30

Our read on FFLS

ETF.net Research

In short

DA hedge-fund playbook in an ETF shell: a concentrated book of roughly 60 long and short US equity positions, actively run with no index to hug. The flexibility is real, and so is the 2.05% price tag.

Stated mandate

The Fund seeks capital appreciation through an actively managed portfolio of long and short equity positions. It generally emphasizes U.S. exchange-listed securities and ADRs, while permitting foreign securities, derivatives, and ETFs.

Why people hold it

  • It actually shorts. Most active equity ETFs only go long; this one runs both sides, so a negative view can be a position instead of just a name left out.
  • Concentrated at roughly 60 positions, so individual stock calls carry real weight rather than washing out across hundreds of names.
  • Long/short access inside a 1940 Act ETF: on-exchange trading any market day and daily published holdings, with no lockup or accreditation gate.
  • Broad toolkit by design: US-listed stocks and ADRs at the core, with room for foreign securities, derivatives and other ETFs.

Worth knowing

  • The fee is 2.05% a year, versus under 0.20% at index-plus peers like DFAU and FELC. That is the annual hurdle the long/short book carries.
  • A small, thinly traded fund. Spreads can be wide and order size matters more here than with the mega-cap index crowd.
  • Launched in 2023 with no index to measure against, so the track record is short and outcomes ride on manager judgment. Payouts come once or twice a year, not monthly.

FFLS Performance

Launched Jun 20, 2023

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.
FFLS$9,771
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. FFLS $9,771. SPY $11,199. Use the arrow keys to read each point.$9,000$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for FFLS. Periods over one year show the average yearly return.
PeriodFFLS
Year to date−0.3%
1 month−0.9%
3 months+1.0%
1 year−2.3%
3 yearsper year+11.3%
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for FFLS
YearReturn barFFLS
2026 YTD−0.3%
2025+7.5%
2024+17.7%
2023+2.0%

History from Jun 21, 2023

FFLS in the news

FFLS Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
6.60%Last 12 months
Payout per share
$1.53Last 12 months
Last payment
$1.53 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Annual

Distribution history

2024–2026

One bar per payment. 2 payments from 2024 to 2026 YTD. Dec 26, 2024 $0.77; Dec 26, 2025 $1.53. Use the arrow keys to read each point.202420252026YTD
Ex-datePay dateAmount per share
Dec 26, 2025Dec 30, 2025$1.53
Dec 26, 2024Dec 30, 2024$0.77

$10,000 in FFLS 3 years ago paid $1,209 in dividends.

FFLS Risk

Risk pillarC47 out of 100Rank 19 of 30 in Alternative Strategies
How much the fund’s monthly returns vary, scaled to a year.
8.9%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.75
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−11.1%
40 months · trough Mar 2026
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.55
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

FFLS Cost

Compare FFLS and HBDC

Overpaying vs HBDC, cheapest in Alternative Strategies

$25,618

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • FFLS 2.05%

    $33,516

  • HBDC 0.39% Cheapest

    $7,898

$10,000
30 years

Cost over time

  • FFLS 2.05%
  • HBDC 0.39%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$10K$20K$30K$40K051015202530FFLS $33,516HBDC $7,898

Year by year

YearFFLSHBDCOverpaying
10$3,460$705$2,755
20$12,415$2,725$9,690
30$33,516$7,898$25,618

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