HFMF vs JPFP

HFMFDUnlimited HFMF Managed Futures ETF

JPFPBJPMorgan Managed Futures Plus 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.

JPFP Most managed futures ETFs make you sell stocks to make room. JPFP stacks instead: full large-cap U.S. equity exposure plus an active long/short trend program across global equities, bonds, currencies and commodities, for 0.59%.

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.

JPFP The fund seeks capital appreciation by combining an active managed futures strategy with a U.S. large-cap equity strategy in one investment. The managed-futures component uses derivatives for long or short exposure across global equities, fixed income, commodities, and currencies.

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

• JPFP Stacked, not swapped. Derivatives let the fund carry broad large-cap U.S. equity exposure while the managed futures sleeve runs alongside it in the same wrapper.jpmorgan.com
• At 0.59% it comes in below the typical managed futures ETF fee and under the top-scoring names in the group, including WTMF at 0.65% and DBMF at 0.85%.
• The trend sleeve can go long or short global equities, fixed income, currencies and commodities, so it is not locked to the direction of any single market.jpmorgan.com
• Built by J.P. Morgan's Multi-Asset Solutions team, which ran this stacking approach in its own portfolios before putting it in an ETF. One of the stronger builds in a crowded niche.jpmorgan.com

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

• JPFP The live record starts at the 2026 launch, and the fund is still building assets and volume, so spreads can run wider than at the category's biggest names.
• Both engines use derivatives, and both can go against you at once. Trend models are designed to follow moves, so sharp reversals can whipsaw the futures sleeve.jpmorgan.com
• Fully active with proprietary models and no benchmark index to check it against, so outcomes ride on the manager's signals rather than a published rulebook.jpmorgan.com

Full HFMF profile⁠

Full JPFP profile⁠