HFMF vs ISMF

HFMFDUnlimited HFMF Managed Futures ETF

ISMFBIshares Managed Futures Active ETF

In short

HFMF Peers build their own trend models. HFMF reverse-engineers the crowd instead: machine learning reads the managed futures hedge fund sector's returns and rebuilds them with futures and broad ETFs, at roughly twice the sector's volatility.

ISMF —No data

Stated mandate

HFMF 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.

ISMF —No data

Why people hold it

• HFMF No in-house trend model. Machine learning reads the managed futures sector's recent returns, then rebuilds similar exposure long and short through futures and broad-based ETFs.saytechnologies.com
• The volatility dial is the point: the prospectus targets a level roughly twice the sector's, a deliberately hotter version of the same return profile.saytechnologies.com
• Hedge fund exposure in 1940 Act clothing: an ETF you can trade intraday, with at least 80% of assets in the futures and broad-based ETFs chosen to echo the sector.nasdaqtrader.com

ISMF —No data

Worth knowing

• HFMF It runs 0.97% with no waiver, above the category median. JPFP charges 0.59% and IMF 0.65% net of a waiver through August 31, 2027, and both run their own trend models.
• Launched July 2025, so the record is short and it trades lighter than the category's established names, which can mean wider spreads.
• Twice the sector's volatility cuts both ways: losses scale with the target too, and the fund is non-diversified.saytechnologies.comnasdaqtrader.com

ISMF —No data

Full HFMF profile⁠

Full ISMF profile⁠