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Launched

The Future Fund Long/Short ETF

FFLSNYSE ArcaD

$23.21−0.09 (−0.39%)

As of Oct 13, 2026, 3:59 PM

D36/ 100

Rank 23 of 30 in Alternative Strategies

D36/100Rank 23 of 30inAlternative Strategies
Intraday session: down, 48 prints from 23.30 to 23.21. Range 23.18 to 23.24. Use the arrow keys to read each point.23.1823.2323.2523.2710 AM12 PM2 PM4 PM
Expense ratio
2.05%
Fund size
$46M
1Y total return
+1.5%
Yield · Last 12 months
6.55%
Holdings
31
Avg volume · 30D
0M sh
NAV per share
$23.39
52W range
low $21.43high $25.29
Launched

The ETF.net FFLS Grade

Based on 5 of 6 pillars

D

Score 36 out of 100

Category
Alternative Strategies⁠
Rank
23 of 30
Six-pillar profile for FFLS. Scores out of 100: Cost 21, Risk 46, Mission not scored, Tradability 55, Holdings 30, Durability 52. Strongest: Tradability (55). Weakest: Cost (21). Based on 5 of 6 pillars.

Score 36 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.
    F21 out of 100
    Rank 24 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.
    C46 out of 100
    Rank 20 of 30

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B55 out of 100
    Rank 14 of 30

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    D30 out of 100
    Rank 14 of 15

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C52 out of 100
    Rank 17 of 30

Our read on FFLS

ETF.net Research

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

  1. 01It 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.
  2. 02Concentrated at roughly 60 positions, so individual stock calls carry real weight rather than washing out across hundreds of names.
  3. 03Long/short access inside a 1940 Act ETF: on-exchange trading any market day and daily published holdings, with no lockup or accreditation gate.
  4. 04Broad toolkit by design: US-listed stocks and ADRs at the core, with room for foreign securities, derivatives and other ETFs.

Worth knowing

  1. 01The 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.
  2. 02A small, thinly traded fund. Spreads can be wide and order size matters more here than with the mega-cap index crowd.
  3. 03Launched 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 Holdings

As of Oct 12, 2026
Asset class
Stocks
Holdings
31
Top-10 weight
90%
Largest holding
Us Dollar Broker53.8%

Sectors

  • Industrials29.7%
  • Health Care28.4%
  • Technology25.8%
  • Consumer Discretionary6.6%
  • Real Estate5.4%
  • Communication4.1%

Geography

  • United States80.24%
  • United Kingdom7.81%
  • Brazil6.20%
  • France5.75%
The fund’s holdings, weight-ordered — page 1 of 3.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—Us Dollar Broker53.81%20,972,029$21M4
002AMZNAmazon.com Inc6.11%9,081$2M736
003NVDANVIDIA Corp4.61%7,840$2M847
004GOOGLAlphabet Inc-A4.47%4,957$2M709
005HALOHalozyme Therape4.43%15,639$2M208
006EWEdwards Life3.69%16,858$1M325
007XYZBlock Inc3.66%18,464$1M181
008GHGuardant Health3.20%7,456$1M175
009ERJEmbraer Sa-Adr3.20%17,539$1M3
010GLWCorning Inc3.13%7,786$1M358
011EQIXEquinix Inc3.09%1,172$1M356
012SAFRYSafran Sa-Adr2.97%13,034$1M11
013AVGOBroadcom Inc2.74%2,954$1M754
014HQYHealthequity Inc2.54%10,708$992K159
015SSentinelone In-A2.49%37,008$972K124

Showing 1–15 of 31 holdings

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$10,152
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$12,044
Oct 10, 2025 to Oct 12, 2026. FFLS $10,152. SPY $12,044. Use the arrow keys to read each point.$9,252$10,759$12,267Oct 2025Apr 2026Oct 2026

Oct 10, 2025 – Oct 12, 2026

Returns run to the Oct 12, 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+0.4%
1 month+1.3%
3 months0.0%
1 year+1.5%
3 yearsper year+9.8%
5 yearsFund is under 5 years oldper year—
10 yearsFund is under 10 years oldper year—

As of the close, 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+0.4%
2025+7.5%
2024+17.7%
2023+2.0%

History from Jun 21, 2023

FFLS in the news

Filtered to FFLS · Alternative Strategies

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 12, 2026.
6.55%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

FFLS Risk

How much the fund’s monthly returns vary, scaled to a year.
9.4%
Annualised · 36 months to Sep 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.
0.57
vs 3-month T-bills · to Sep 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%
39 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.

FFLS Cost

Expense ratio2.05%
  • The middle half of Alternative Strategies funds
  • Median 1.00%

23 of the 30 Alternative Strategies funds charge less.

FFLS costs $205.00 a year on $10,000. The median Alternative Strategies fund costs $100.50.

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