FFUT vs IMF

FFUTBFidelity Managed Futures ETF

IMFAInvesco Managed Futures Strategy ETF

In short

FFUT Fidelity'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.

IMF —No data

Stated mandate

FFUT 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.

IMF —No data

Why people hold it

• FFUT 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

IMF —No data

Worth knowing

• FFUT 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.

IMF —No data

Full FFUT profile⁠

Full IMF profile⁠