---
ticker: "FMF"
name: "First Trust Managed Futures Strategy Fund"
url: "https://etf.net/etf/FMF"
grade: "C"
score: 43
graded_at: "2026-10-12"
category: "Managed Futures"
category_rank: "11 of 16"
methodology: "https://etf.net/methodology"
---

# FMF: First Trust Managed Futures Strategy Fund

Grade **C**, Score 43 of 100. Rank 11 of 16 in Managed Futures.

Graded Oct 12, 2026.

## Grade pillars

| Pillar | Score | Category rank |
| --- | --- | --- |
| Cost | 17 | 13 of 16 |
| Mission | Not scored | — |
| Risk | 66 | 5 of 15 |
| Tradability | 64 | 4 of 16 |
| Holdings | 61 | 1 of 5 |
| Durability | 77 | 4 of 16 |

## Top holdings

The fund holds 36 positions. These are the largest 30, by weight.

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | — | 3 MONTH SOFR FUT  Dec27 | 32.31% |
| 2 | — | EURO-SCHATZ FUT   Dec26 | 24.21% |
| 3 | — | US 2YR NOTE (CBT) Dec26 | 24.17% |
| 4 | — | C$ CURRENCY FUT   Dec26 | 20.63% |
| 5 | — | CHF CURRENCY FUT  Dec26 | 19.18% |
| 6 | — | JPN 10Y BOND(OSE) Dec26 | 16.05% |
| 7 | — | US 5YR NOTE (CBT) Dec26 | 15.60% |
| 8 | — | EURO-BOBL FUTURE  Dec26 | 14.97% |
| 9 | — | JPN YEN CURR FUT  Dec26 | 12.22% |
| 10 | — | US 10YR NOTE (CBT)Dec26 | 12.01% |
| 11 | — | EURO-BUND FUTURE  Dec26 | 10.63% |
| 12 | — | US LONG BOND(CBT) Dec26 | 10.31% |
| 13 | — | US ULTRA BOND CBT Dec26 | 9.79% |
| 14 | — | EURO FX CURR FUT  Dec26 | 9.57% |
| 15 | — | CAN 10YR BOND FUT Dec26 | 8.25% |
| 16 | — | WHEAT FUTURE(CBT) Dec26 | 7.24% |
| 17 | — | LME NICKEL FUTURE Dec26 | 6.72% |
| 18 | — | LONG GILT FUTURE  Dec26 | 6.57% |
| 19 | — | BRAZIL REAL FUT   Nov26 | 6.28% |
| 20 | — | LME LEAD FUTURE   Dec26 | 6.01% |
| 21 | — | CAC40 10 EURO FUT Oct26 | 5.47% |
| 22 | — | LEAN HOGS FUTURE  Dec26 | 4.96% |
| 23 | — | LIVE CATTLE FUTR  Dec26 | 3.34% |
| 24 | — | WTI CRUDE FUTURE  Dec26 | 2.80% |
| 25 | — | COTTON NO.2 FUTR  Dec26 | 2.39% |
| 26 | — | KC HRW WHEAT FUT  Dec26 | 2.19% |
| 27 | — | SOYBEAN OIL FUTR  Dec26 | 2.15% |
| 28 | — | NATURAL GAS FUTR  Dec26 | 2.12% |
| 29 | — | SPI 200 FUTURES   Dec26 | 2.02% |
| 30 | — | CBOE VIX FUTURE   Nov26 | 1.84% |

Source: etf.net, https://etf.net/etf/FMF. Please cite the page URL.