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HFMF

GradeDNew York Stock Exchange

Unlimited HFMF Managed Futures ETF

Multi-Asset & Alternatives · Unlimited · Inception 2025-07-14 · SEC filings

$22.26+0.21 (+0.95%)

As of Sep 23, 2026, 2:17 PM EDT

History starts Jul 15, 2025.
Intraday session: up, 10 prints from 22.05 to 22.26. Range 22.00 to 22.26. Use the arrow keys to read each point.$22.00$22.10$22.2010 AM12 PM2 PM4 PM
Expense ratio
0.95%
Fund size
$26M
1Y return
+6.9%
Yield · Last 12 months
Data unavailable
Volume · 30D
0M sh
NAV per share
$22.29
52W range
low $20.20high $24.92

The ETF.net HFMF Grade

D

25/ 100

Rank 13 of 16 in Managed Futures⁠

Confidence Medium

Six-pillar profile for HFMF. Scores out of 100: Cost 27, Risk 15, Mission not scored, Tradability 30, Holdings not scored, Durability 35. Strongest: Durability (35). Weakest: Risk (15). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 25 of 100 sits in the D 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.
    DScore 27
    Category rank12/16 · bottom quartile

  • 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.
    FScore 15
    Category rank14/15 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 30
    Category rank12/16 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    DScore 35
    Category rank13/16 · bottom quartile

Graded as of Sep 22, 2026 · Based on 4 of 6 pillars

Our read on HFMF

ETF.net Research

DManaged futures, replicated. HFMF aims at the return profile of the managed futures hedge fund sector as a whole, going long and short broad ETFs and futures across global markets, at the category's median fee.

Stated mandate

The Fund seeks capital appreciation. It seeks managed-futures-like return characteristics through long and short positions in broad-based ETFs and futures contracts, with at least 80% of assets allocated to that strategy.

Why people hold it

  1. 01Targets the managed futures corner of the hedge fund industry, with at least 80% of assets in long and short positions across broad-based ETFs and futures contracts.
  2. 02The 0.95% expense ratio sits right at the median for managed futures ETFs, a category where nothing comes cheap.
  3. 03Global and multi-asset by design: long and short exposure assembled from exchange-listed futures and ETFs, all inside a standard 1940 Act fund.

Worth knowing

  1. 01Cheaper options sit in the same peer group: DBMF charges 0.85% and CTA 0.75%, and those longer-established names currently lead this small category.
  2. 02Launched in October 2024, so there is only a brief live record, and any read on its risk profile rests on that short history.
  3. 03Assets are modest and trading is light, which can mean wider bid-ask spreads than the category's most heavily traded funds.

HFMF Holdings

As of Sep 20, 2026, 9:28 AM
Asset class
Other
Holdings
—
Top-10 weight
263%
Largest holding
First American Government Obligations Fund 12/01/2031114.3%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—First American Government Obligations Fund 12/01/2031114.29%23,546,729$24M625
002—AUDUSD Crncy Fut Dec2665.13%189$13M5
003—WTI CRUDE FUTURE Nov2632.09%68$7M6
004—Cash & Other13.41%2,763,764$3M674
005—SOYBEAN FUTURE Nov2612.17%38$3M4
006—COPPER FUTURE Dec2612.13%15$2M4
007—CBOE VIX FUTURE Oct265.23%60$1M7
008—SUGAR #11 (WORLD) Oct263.41%36$702K2
009—NIKKEI 225 (CME) Dec263.15%2$649K4
010—CORN FUTURE Dec262.32%18$477K4

Showing 1–10 of 10 holdings

HFMF Performance

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

HFMF$10,694
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. HFMF $10,694. SPY $11,723. Use the arrow keys to read each point.$9,331$10,784$12,238Sep 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 HFMF. Periods over one year show the average yearly return.
PeriodHFMF
Year to date+6.2%
1 month+2.3%
3 months+2.3%
1 year+6.9%
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 HFMF
YearReturn barHFMF
2026 YTD+6.2%
2025+6.3%

History from Jul 15, 2025

HFMF in the news

ETF.net Research hasn’t filed on HFMF yet — coverage lands here as it’s written.

HFMF 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
$0.62 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. 1 payment from 2025 to 2026 YTD. Dec 24, 2025 $0.62. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Dec 24, 2025Dec 26, 2025$0.62

HFMF Risk

How much the fund’s monthly returns vary, scaled to a year.
11.7%
Annualised · 13 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.
0.52
vs 3-month T-bills · 13 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.
−15.2%
14 months · trough Aug 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.
−0.01
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.

HFMF Cost

Expense ratio0.95%
  • The middle half of Managed Futures funds
  • Median 0.85%

8 of the 13 Managed Futures funds charge less.

HFMF costs $95.00 a year on $10,000. The median Managed Futures fund costs $85.00.