Winton proposes two managed-futures ETFs at 0.80% and 0.93%

Winton Capital Management, the London systematic manager, on Monday proposed charging US buyers 0.80% a year for a global managed-futures ETF and 0.93% for a fund that pairs that strategy with large-cap US stocks. The second fee would be more than three times the 0.28% Simplify already charges for that shape.

The paired fund, Winton US Equities & Managed Futures ETF, would seek long-term capital appreciation through two sleeves: a US large-cap equity component and a leveraged global managed-futures component. Equity exposure may come from unaffiliated ETFs, total-return swaps, futures on broad US equity indices, and direct US stocks. Corey Hoffstein, chief executive and chief investment officer at Newfound Research, which co-manages Return Stacked U.S. Stocks & Managed Futures ETF CRSST, said the managed-futures sleeve "will be a combination of trend and carry."

Winton US Equities & Managed Futures against funds already listed

Simplify US Equity PLUS Managed Futures Strategy ETF BCTAP, which pairs large-cap US equities with a managed-futures overlay, holds $150 million and charges 0.28%. JPMorgan Managed Futures Plus ETF BJPFP, which listed in May, holds $126 million at 0.59%. The Return Stacked fund CRSST holds $552 million at 0.99%. Winton's 0.93% total would sit toward the expensive end of that group. The fee includes 0.03% of acquired-fund fees, the filing's signal that the equity sleeve may be built with other funds.

Managed-futures ETFs already on the board

The companion series, Winton Managed Futures ETF, would run a diversified managed-futures book that combines core trend following with other quantitative signals such as carry. It would invest globally, long and short, with leverage, across equities, commodities, currencies, and fixed income, at a total annual expense of 0.80%. That fee would sit next to funds that already trade, and it does not undercut them.

Invesco's 0.65% is a net expense ratio after a contractual waiver through at least August 31, 2027.

Winton Managed Futures Trend Fund and the European range

On October 28, 2025, Winton became adviser to what had been the Altegris Futures Evolution Strategy Fund, renamed the Winton Managed Futures Trend Fund, and described the approach as a "pure implementation" of its major-market trend-following strategy. As of June 30, 2026, that mutual fund held $22 million. Institutional Class shares list total annual operating expenses of 1.94%, reduced to 1.34% after a 0.60% waiver scheduled through at least October 31, 2027. The proposed ETF at 0.80% would be a cheaper public wrapper of a related, not identical, strategy: the ETF filing adds carry and other quantitative signals on top of trend following. Eight months after the takeover, the mutual fund's size makes Monday's ETF filing read as a second pass at the same US buyer.

In Europe, Winton has been building a portable-alpha UCITS range that pairs a Winton alternative sleeve with passive equity. On September 1 it said it had completed that lineup with Winton Macro Enhanced Global Equity, which combines its Diversified Macro BCTA strategy with the MSCI World, and Winton Quant Enhanced US Equity, which pairs its Diversified Absolute Return programme with the S&P 500. Those UCITS funds are designed so that every $100 invested aims to deliver $100 of the alternative strategy and $100 of the equity index. The US paired ETF uses the same two-sleeve design.

What Monday's 485APOS sets in motion

Northern Lights Fund Trust filed a Form 485APOS, a post-effective amendment under Rule 485(a), rather than a listing notice, and selected the 75-day effectiveness path. That clock runs from Monday, September 21, into early December unless the Commission acts sooner or the registrant delays it. The prospectus is still stamped "subject to completion." The ticker and primary-listing lines are empty, creation-unit size for the plain managed-futures ETF is still a bracketed [20,000] shares, and the prospectus date is still "[ ], 2026." The proposed public offering would occur "As Soon As Practical, After Effectiveness of Registration Statement." Nothing in the filing changes a share already outstanding.

Winton is asking the American buyer to pay 0.80% for the futures book and 0.93% for the version paired with US stocks, for a brand whose existing US mutual fund held $22 million as of June 30, 2026. Simplify already sells that paired shape at 0.28%.