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FFUT vs ISMF

Fidelity Managed Futures ETF

FFUTBNasdaq

Ishares Managed Futures Active ETF

ISMFBCboe

Overlap

Expense ratio

Same figure. Both funds show the same value, so neither comes out ahead.

FFUT0.80%ISMF0.80%

Avg volume · 30D

FFUT 1.8×the volume

FFUT43.3KISMF23.4K

FFUT vs ISMF Performance

Oct 31, 2025 – Oct 30, 2026

+20.9%FFUT+12.1%ISMF

Oct 31, 2025 to Oct 30, 2026. FFUT +20.9%. ISMF +12.1%. Use the arrow keys to read each point.0%5%25%Oct 2025Apr 2026Oct 2026
Expense ratio
FFUT 0.80%
ISMF 0.80%
Fund size
FFUT $394M
ISMF $37M
1Y total return
FFUT +20.9%, better
ISMF +12.1%
Holdings
FFUT 61
ISMF 17
Avg volume (30D)
FFUT 43.3K sh, better
ISMF 23.4K sh
NAV per share
FFUT $62.49
ISMF $28.29
52W range

ETF.net Grade

FFUT: Cost 63, Risk 77, Mission not scored, Tradability 46, Holdings 0, Durability 73. ISMF: Cost 63, Risk 81, Mission not scored, Tradability 64, Holdings not scored, Durability 46.
Pillar letters and Scores for FFUT, ISMF, with each pillar’s weight
PillarFFUTISMF
Cost30% weightB63B63
Mission25% weightNot scoredNot scored
Risk15% weightA77A81Higher
Tradability15% weightC46B64Higher
Holdings10% weightF0Not scored
Durability5% weightA73HigherC46

Rank among Managed Futures funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. FFUT and ISMF are both graded against the same 14 Managed Futures funds, so their Grades compare head to head.

Managed Futures⁠

Category · 14 funds
See all 14 ›

ISMF ranks 3rd and FFUT 4th of 14 funds in the Managed Futures Category.

  1. Rank 1AIMFInvesco Managed Futures Strategy ETFScore 80
  2. Rank 2AWTMFWisdomTree Managed Futures Strategy FundScore 75
  3. Rank 3BISMFIshares Managed Futures Active ETFScore 66
  4. Rank 4BFFUTFidelity Managed Futures ETFScore 63
  5. Rank 4BJPFPJPMorgan Managed Futures Plus ETFScore 63

Our read on each fund

ETF.net Research

FFUTBFidelity Managed Futures ETF

ISMFBIshares Managed Futures Active 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.

ISMF 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.

ISMF 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

ISMF 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.

ISMF No data

Full FFUT profile⁠

Full ISMF profile⁠

FFUT vs ISMF Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

FFUT vs ISMF Cost

Same expense ratio

$15,346

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

  • FFUT 0.80%

    $15,346

  • ISMF 0.80%

    $15,346

$10,000
30 years

Cost over time

  • FFUT 0.80%
  • ISMF 0.80%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530FFUT $15,346ISMF $15,346

Year by year

YearFFUTISMF
10$1,422$1,422
20$5,393$5,393
30$15,346$15,346

Expense ratio

  • 0.80%FFUT
  • 0.80%ISMF
  • Middle half of Managed Futures funds
  • Median 0.85%

FFUT 5th cheapest of 14 funds

ISMF 5th cheapest of 14 funds

FFUT vs ISMF Dividends

Last 12 months to Oct 30, 2026
Last payment
FFUT $0.02
ISMF $1.64
Ex-dividend
FFUT Dec 30, 2025
ISMF Dec 16, 2025
Paid on
FFUT Jan 2, 2026
ISMF Dec 19, 2025
Frequency
FFUT Irregular
ISMF Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

FFUTIrregular · 2 paymentsAll FFUT payments⁠
One bar per payment. 2 payments from 2025 to 2026 YTD. Dec 19, 2025 $1.10; Dec 30, 2025 $0.02. Use the arrow keys to read each point.$0$12026YTD
ISMFIrregular · 1 paymentAll ISMF payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 16, 2025 $1.64. Use the arrow keys to read each point.$0$12026YTD

FFUT vs ISMF Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
FFUT 8.5%since Jul 2025ISMF 6.6%since Apr 2025
Return per unit of riskSharpe ratio, 3 years
FFUT 1.70since Jul 2025ISMF 1.10since Apr 2025
Worst fallMax drawdown, 5 years
FFUT −5.6%since Jun 2025ISMF −4.2%since Mar 2025
Market sensitivityBeta, 5 years
FFUT 0.10ISMF 0.23

FFUT and ISMF in the news

All news⁠

Popular comparisons

  • FFUTBvsIMFA

    Fidelity Managed Futures ETF · Invesco Managed Futures Strategy ETF

    Expense ratio
    0.80% · 0.65%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • ISMFBvsIMFA

    Ishares Managed Futures Active ETF · Invesco Managed Futures Strategy ETF

    Expense ratio
    0.80% · 0.65%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • FFUTBvsWTMFA

    Fidelity Managed Futures ETF · WisdomTree Managed Futures Strategy Fund

    Expense ratio
    0.80% · 0.66%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • ISMFBvsWTMFA

    Ishares Managed Futures Active ETF · WisdomTree Managed Futures Strategy Fund

    Expense ratio
    0.80% · 0.66%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • FFUTBvsJPFPB

    Fidelity Managed Futures ETF · JPMorgan Managed Futures Plus ETF

    Expense ratio
    0.80% · 0.59%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • ISMFBvsJPFPB

    Ishares Managed Futures Active ETF · JPMorgan Managed Futures Plus ETF

    Expense ratio
    0.80% · 0.59%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.