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Launched · SEC filings

Blueprint Chesapeake Multi-Asset Trend ETF

TFPNNYSE ArcaF

$29.36−0.17 (−0.58%)

As of Nov 2, 2026, 3:57 PM ET

F23/ 100

Rank 14 of 16 in Managed Futures

F23/100Rank 14 of 16inManaged Futures
Intraday session: down, 76 prints from 29.53 to 29.36. Range 29.36 to 29.57. Use the arrow keys to read each point.29.4029.4529.5010 AM12 PM2 PM4 PM
Expense ratio
1.13%
Fund size
$158M
1Y total return
+15.5%
Yield · Last 12 months
0.00%
Holdings
61
Avg volume · 30D
10.8K sh
52W range
low $24.10high $33.34
Launched
Filings
SEC EDGAR

The ETF.net TFPN Grade

Based on 4 of 6 pillars

F

Score 23 out of 100

Category
Managed Futures⁠
Rank
14 of 16
Six-pillar profile for TFPN. Scores out of 100: Cost 0, Risk 35, Mission not scored, Tradability 46, Holdings not scored, Durability 57. Strongest: Durability (57). Weakest: Cost (0). Based on 4 of 6 pillars.

Score 23 of 100 falls in the F 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.
    F0 out of 100
    Rank 16 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.
    D35 out of 100
    Rank 10 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.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B57 out of 100
    Rank 8 of 16

Our read on TFPN

ETF.net Research

In short

FThe ticker is the thesis: Trend Following Plus Nothing. Original Turtle trader Jerry Parker rides price trends long or short across currencies, commodities, bonds and individual stocks, with no stock-index core bolted underneath it.

Stated mandate

The Fund seeks to preserve capital while pursuing long-term capital appreciation.

Why people hold it

  • Subadvised by Chesapeake Capital, founded in 1988 by Jerry Parker, one of Richard Dennis's original Turtles. These trend rules have a long history behind them, not a 2023 launch idea.blueprintip.comlinkedin.comwikipedia.org
  • The equity sleeve trades individual stocks long and short, so single-name trends sit alongside the futures book instead of everything running through index futures.sec.govblueprintip.com
  • One strategy, no bolt-ons: the managers call it "trend following plus nothing," applied long, short or flat across currencies, commodities, fixed income and equities in global markets.blueprintip.com
  • Wrapped as a 1940 Act ETF that reports on a 1099, so there is no K-1 at tax time, with derivatives exposure routed through a wholly owned Cayman subsidiary.blueprintip.com

Worth knowing

  • Cost is the trade-off for the pedigree: 1.13%, above the category median (15 funds) and with no waiver trimming it. JPFP runs 0.59% and CTA 0.75%.
  • Trend following needs trends. Choppy, direction-free markets are where this kind of system gets whipsawed, and the book can be short something the crowd is busy buying.blueprintip.com
  • One of the less-traded names in the managed futures aisle, so spreads can run wider than at the category's giants. Limit orders matter more here.

TFPN Performance

Launched Jul 11, 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.
TFPN$11,546
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. TFPN $11,546. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000$12,000$13,000Oct 2025May 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 TFPN. Periods over one year show the average yearly return.
PeriodTFPN
Year to date+14.7%
1 month−1.5%
3 months−1.5%
1 year+15.5%
3 yearsper year+5.9%
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 TFPN
YearReturn barTFPN
2026 YTD+14.7%
2025+3.6%
2024+2.6%
2023−1.6%

History from Jul 12, 2023

TFPN in the news

TFPN 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 30, 2026.
0.00%Last 12 months
Payout per share
NoneLast 12 months

No distributions in the last 12 months.

Distribution history

Payments through 2024

One bar per payment. 2 payments from 2023 to 2024. Dec 5, 2023 $0.24; Dec 5, 2024 $0.23. Use the arrow keys to read each point.20232024
Ex-datePay dateAmount per share
Dec 5, 2024Dec 9, 2024$0.23
Dec 5, 2023Dec 8, 2023$0.24

$10,000 in TFPN 3 years ago paid $191 in dividends.

TFPN Risk

Risk pillarD35 out of 100Rank 10 of 15 in Managed Futures
How much the fund’s monthly returns vary, scaled to a year.
13.7%
Annualised · 36 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.
0.16
vs 3-month T-bills · 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.
−16.7%
39 months · trough Apr 2025
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.
0.59
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.

TFPN Cost

Compare TFPN and JPFP

Overpaying vs JPFP, cheapest in Managed Futures

$9,129

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

  • TFPN 1.13%

    $20,764

  • JPFP 0.59% Cheapest

    $11,635

$10,000
30 years

Cost over time

  • TFPN 1.13%
  • 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$20K$25K051015202530TFPN $20,764JPFP $11,635

Year by year

YearTFPNJPFPOverpaying
10$1,981$1,058$923
20$7,403$4,051$3,352
30$20,764$11,635$9,129

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