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Launched · SEC filings

Fidelity Managed Futures ETF

FFUTNasdaqFidelityB

$61.75−1.10 (−1.75%)

At close: Nov 2, 2026, 4:00 PM ET

B63/ 100

Rank 4 of 16 in Managed Futures

B63/100Rank 4 of 16inManaged Futures
Intraday session: down, 79 prints from 62.85 to 61.75. Range 61.73 to 62.52. Use the arrow keys to read each point.62.0062.2562.5010 AM12 PM2 PM4 PM
Expense ratio
0.80%*
Fund size
$394M
1Y total return
+20.9%
Yield · Last 12 months
No data
Holdings
61
Avg volume · 30D
43.3K sh
52W range
low $52.47high $67.17
Launched
Filings
SEC EDGAR

*After a fee waiver that ends May 31, 2027. Without it: 0.82%.

The ETF.net FFUT Grade

Based on 5 of 6 pillars

B

Score 63 out of 100

Category
Managed Futures⁠
Rank
4 of 16
Six-pillar profile for FFUT. Scores out of 100: Cost 63, Risk 77, Mission not scored, Tradability 46, Holdings 0, Durability 73. Strongest: Risk (77). Weakest: Holdings (0). Based on 5 of 6 pillars.

Score 63 of 100 falls in the B 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.
    B63 out of 100
    Rank 5 of 16

  • 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.
    A77 out of 100
    Rank 3 of 15

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C46 out of 100
    Rank 10 of 16

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    F0 out of 100
    Rank 5 of 6

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A73 out of 100
    Rank 6 of 16

Our read on FFUT

ETF.net Research

In short

BFidelity's 2025 entry into managed futures: a systematic long-short model that rides price trends up or down across stocks, bonds, currencies and commodities. The fee sits at 0.80%, net of a waiver through May 31, 2027.

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

  • Trend signals run both ways, so the fund can be short bonds or long gold with equal ease across equity, fixed income, currency and commodity markets.sec.gov
  • Commodity exposure runs through a wholly owned Cayman subsidiary, capped at 25% of assets, keeping it all inside a 1940 Act fund that sends a 1099, not a K-1.sec.gov
  • At 0.80% net of a waiver through May 31, 2027, the fee lands near the middle of a small managed futures field rather than at the premium end alternatives often occupy.
  • Returns come from trend signals rather than owning the market, which is why Fidelity pitches it as a diversifier alongside stocks and bonds.fidelity.com

Worth knowing

  • Trades thinly, so bid-ask spreads can widen and larger orders may need patience.
  • Cheaper trend options exist: JPFP charges 0.59% with no waiver, WTMF 0.66% net of a waiver through December 31, 2026.
  • Launched in June 2025, so there is no multi-cycle record, and trend models can give back ground in choppy, directionless markets.

FFUT Holdings

Holdings pillarF0 out of 100Rank 5 of 6 in Managed Futures
Asset class
Stocks
Holdings
61
Top-10 weight
179%
Largest holding
Net Other Assets53.8%

Sectors

  • Technology68.2%
  • Financials6.0%
  • Communication5.3%
  • Health Care4.9%
  • Consumer Discretionary4.7%
  • Industrials4.0%
  • Consumer Staples2.3%
  • Energy1.8%
  • Utilities1.0%
  • Real Estate0.9%
  • Materials0.8%

Geography

  • United States99.37%
  • Canada0.38%
  • Switzerland0.14%
  • China0.05%
  • Mexico0.02%
  • Ireland0.02%
  • United Kingdom0.02%
The fund’s holdings, weight-ordered — page 1 of 5.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataNet Other Assets53.78%0$218M158
2No dataCash Cf39.04%158,035,100$158M59
3No dataFidelity Managed Futures Cayma20.37%4,863,428$82.5M1
4No dataUst Bills 0% 01/19/2718.41%75,200,000$74.5M12
5No dataUst Bills 0% 01/07/2712.60%51,400,000$51M30
6No dataSek 12/16/2026 Forward Cc9.95%396,206,020$40.3M1
7No dataNzd 12/16/2026 Forward Cc8.39%60,251,000$34M1
8No dataInr 12/16/2026 Forward Cc6.62%2,567,858,900$26.8M1
9No dataCop 12/16/2026 Forward Cc5.96%77,108,339,000$24.1M1
10No dataBrl 1/5/2027 Forward Cc3.53%78,138,000$14.3M1
11No dataPen 12/16/2026 Forward Cc3.18%44,627,000$12.9M1
12IVVIshares Core S&P 500 Etf3.17%16,600$12.8M59
13No dataUst Bills 0% 12/17/263.00%12,200,000$12.1M22
14No dataChf 12/16/2026 Forward Cc2.67%8,891,000$10.8M1
15No dataMxn 12/16/2026 Forward Cc2.10%160,356,000$8.5M1

Showing 1–15 of 61 holdings

FFUT Performance

Launched Jun 3, 2025

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.Not enough history yet.
FFUT$12,090
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. FFUT $12,090. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000$12,000Oct 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 FFUT. Periods over one year show the average yearly return.
PeriodFFUT
Year to date+17.6%
1 month−3.4%
3 months+3.6%
1 year+20.9%
3 yearsFund is under 3 years oldper yearNo data
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 FFUT
YearReturn barFFUT
2026 YTD+17.6%
2025+8.2%

History from Jun 5, 2025

FFUT in the news

FFUT Dividends

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

$10,000 in FFUT 1 year ago paid $210 in dividends.

FFUT Risk

Risk pillarA77 out of 100Rank 3 of 15 in Managed Futures
How much the fund’s monthly returns vary, scaled to a year.
8.5%
Annualised · 16 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.
1.70
vs 3-month T-bills · 16 months 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.
−5.6%
16 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.

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

FFUT Cost

Compare FFUT and JPFP

Overpaying vs JPFP, cheapest in Managed Futures

$3,711

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

  • FFUT 0.80%

    $15,346

  • JPFP 0.59% Cheapest

    $11,635

$10,000
30 years

Cost over time

  • FFUT 0.80%
  • JPFP 0.59%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530FFUT $15,346JPFP $11,635

Year by year

YearFFUTJPFPOverpaying
10$1,422$1,058$364
20$5,393$4,051$1,342
30$15,346$11,635$3,711
How the 0.80% is worked out

Full fee 0.82%− waiver 0.02%= you pay 0.80%

The waiver ends May 31, 2027. After that the fee is 0.82% unless Fidelity renews it. Source: prospectus, May 2026.

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