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FFUT

GradeBNASDAQ Global Market

Fidelity Managed Futures ETF

Multi-Asset & Alternatives · Fidelity · Inception 2025-06-03 · SEC filings

$65.31+0.74 (+1.15%)

As of Sep 23, 2026, 2:19 PM EDT

History starts Jun 5, 2025.
Intraday session: up, 38 prints from 64.57 to 65.31. Range 64.37 to 65.81. Use the arrow keys to read each point.$64.50$65.00$65.5010 AM12 PM2 PM4 PM
Expense ratio
0.82%
Fund size
$352M
1Y return
+26.4%
Yield · Last 12 months
Data unavailable
Holdings
155
Volume · 30D
0M sh
NAV per share
$64.09
52W range
low $51.68high $66.61

The ETF.net FFUT Grade

B

55/ 100

Rank 7 of 16 in Managed Futures⁠

Confidence Medium

Six-pillar profile for FFUT. Scores out of 100: Cost 50, Risk 71, Mission not scored, Tradability 49, Holdings 0, Durability 69. Strongest: Risk (71). Weakest: Holdings (0). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 55 of 100 sits in the B band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    CScore 50
    Category rank8/16 · top 50%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    AScore 71
    Category rank4/15 · top 27%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 49
    Category rank7/16 · top 44%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    FScore 0
    Category rank4/4 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 69
    Category rank6/16 · top 38%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on FFUT

ETF.net Research

BManaged futures, the hedge fund staple, wearing a Fidelity badge. FFUT runs a systematic long-short trend strategy across global markets, leaning long what's rising and short what's falling, at a fee below the typical tactical fund.

Stated mandate

The fund seeks to capitalize on market trends through a disciplined, systematic long-short strategy. The filing indicates that the portfolio may use broad-based ETFs and futures contracts to pursue return characteristics similar to the Managed Futures sector.

Why people hold it

  1. 01Costs 0.82% a year, under the median fee for tactical multi-asset funds. Cheap is rare in the trend-following aisle.
  2. 02It can go short as well as long across global markets, so the strategy isn't wired to only one market direction. That is the entire premise of trend following.
  3. 03A liquid-alternative strategy in a plain 1940 Act ETF: no lockups, no minimums, priced through the trading day on Nasdaq.finance.yahoo.com
  4. 04Among the stronger builds in its tactical multi-asset peer group on our review, with a systematic process run by Fidelity's quant team rather than a discretionary trader's gut.finance.yahoo.com

Worth knowing

  1. 01It launched in 2025. The history is short, so there's limited record of how the model handles a full range of market conditions.finance.yahoo.com
  2. 02Small asset base and light trading volume, which can mean wider bid-ask spreads than you'd see on a mainstream index ETF.
  3. 03Distributions come annually or semiannually, so this is built around total return rather than a regular income stream.

FFUT Holdings

As of Sep 21, 2026, 3:23 PM
Asset class
Stocks
Holdings
155
Top-10 weight
150%
Largest holding
CASH CF36.2%

Sectors

Geography

The fund’s holdings, weight-ordered — page 1 of 5.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—CASH CF36.20%136,884,580$137M60
002—NET OTHER ASSETS22.62%0$86M134
003—FIDELITY MANAGED FUTURES CAYMA21.56%4,863,428$82M1
004—UST BILLS 0% 10/22/2619.03%72,200,000$72M21
005—UST BILLS 0% 10/06/2611.51%43,600,000$44M17
006—SEK 12/16/2026 FORWARD CC11.19%415,568,000$42M1
007—NZD 12/16/2026 FORWARD CC9.35%61,784,000$35M1
008—CHF 12/16/2026 FORWARD CC6.91%21,336,000$26M1
009—COP 12/16/2026 FORWARD CC5.87%72,269,128,000$22M1
010—INR 12/16/2026 FORWARD CC5.63%2,056,545,000$21M1
011—BRL 1/5/2027 FORWARD CC4.77%95,117,000$18M1
012—MXN 12/16/2026 FORWARD CC4.77%313,091,010$18M1
013—PEN 12/16/2026 FORWARD CC4.37%55,587,000$17M1
014IVVISHARES CORE S&P 500 ETF3.36%16,600$13M54
015—UST BILLS 0% 12/17/263.19%12,200,000$12M13

Showing 1–15 of 70 holdings

FFUT Performance

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

FFUT$12,638
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. FFUT $12,638. SPY $11,723. Use the arrow keys to read each point.$9,277$11,120$12,962Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 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 FFUT. Periods over one year show the average yearly return.
PeriodFFUT
Year to date+20.8%
1 month+2.9%
3 months+10.6%
1 year+26.4%
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per 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 FFUT
YearReturn barFFUT
2026 YTD+20.8%
2025+8.2%

History from Jun 5, 2025

FFUT in the news

FFUT 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 Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.02 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 2 payments from 2025 to 2026 YTD. Dec 19, 2025 $1.10; Dec 30, 2025 $0.02. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Dec 30, 2025Jan 2, 2026$0.02
Dec 19, 2025Dec 23, 2025$1.10

FFUT Risk

How much the fund’s monthly returns vary, scaled to a year.
7.0%
Annualised · 14 months to Aug 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.
2.24
vs 3-month T-bills · 14 months to Aug 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.
−5.6%
15 months · trough Jun 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.
0.10
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.

FFUT Cost

Expense ratio0.82%
  • The middle half of Managed Futures funds
  • Median 0.85%

4 of the 13 Managed Futures funds charge less.

FFUT costs $82.00 a year on $10,000. The median Managed Futures fund costs $85.00.