HOLD vs IMF: Grades, Fees and Holdings Compared

Harbor Alpha Layering ETF (HOLD)

HOLDCNYSE Arca

Invesco Managed Futures Strategy ETF

IMFACboe

Overlap

0.0%by weight

Expense ratio

IMF −0.05pt a year

HOLD0.70%IMF0.65%

Avg volume · 30D

IMF 4.5×the volume

HOLD1.93KIMF8.68K

HOLD vs IMF Performance

Oct 31, 2025 – Oct 30, 2026

+1.3%HOLD+20.8%IMF

Expense ratio: HOLD 0.70%; IMF 0.65%, better
Fund size: HOLD $4M; IMF $306M
1Y total return: HOLD +1.3%; IMF +20.8%, better
Holdings: HOLD 10; IMF 17
Avg volume (30D): HOLD 1.93K sh; IMF 8.68K sh, better
NAV per share: HOLD $31.38; IMF $52.84
52W range

ETF.net Grade

Pillar letters and Scores for HOLD, IMF, with each pillar’s weight
Pillar	HOLD	IMF
Cost30% weight	A80	A90Higher
Mission25% weight	Not scored	Not scored
Risk15% weight	D26	A82Higher
Tradability15% weight	D32	B65Higher
Holdings10% weight	D30	Not scored
Durability5% weight	D35	B68Higher

Rank among Managed Futures funds

How we build Categories ›

Same Category. HOLD and IMF 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 ›

IMF ranks 1st and HOLD 10th of 14 funds in the Managed Futures Category.

Rank 1AIMFInvesco Managed Futures Strategy ETFScore 80
Rank 2AWTMFWisdomTree Managed Futures Strategy FundScore 75
Rank 8CKMLMKraneShares Mount Lucas Managed Futures Index Strategy ETFScore 45
Rank 10CHOLDHarbor Alpha Layering ETF (HOLD)Score 40
Rank 11DHFMFUnlimited HFMF Managed Futures ETFScore 28

Our read on each fund

ETF.net Research

HOLDCHarbor Alpha Layering ETF (HOLD)

IMFAInvesco Managed Futures Strategy ETF

In short

HOLD Own the S&P 500 and rent a trend-follower in one ticker. Harbor's 2025 launch layers an active, quantitative managed futures sleeve on top of passive index replication, so the diversifier rides along instead of taking the equity seat.

IMF No data

Stated mandate

HOLD The Fund seeks long-term capital appreciation through a passive strategy intended to replicate the S&P 500 Index combined with an active, quantitative trend-following managed futures strategy.

IMF No data

Why people hold it

HOLD Two jobs, one line item: passive S&P 500 replication plus an active trend-following managed futures strategy, stacked rather than swapped.
The 0.70% fee sits below the typical allocation-fund charge, which is unusual for a wrapper carrying an active futures overlay.
The trend sleeve casts a global net across markets, and the whole thing sits in a plain 1940 Act ETF: daily pricing, no K-1 partnership paperwork.

IMF No data

Worth knowing

HOLD Opened in 2025, so live history is thin. The futures sleeve is discretionary quant, not an index, so outcomes trace the manager's models.
Small and lightly traded so far, which tends to mean wider spreads than the household names in the allocation aisle.
The stacking shelf is competitive: NTSX and GDE run similar stock-plus-diversifier ideas for under a third of the cost, with years of record behind them.

IMF No data

Full HOLD profile⁠

Full IMF profile⁠

HOLD vs IMF Holdings

How HOLD and IMF differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of HOLD and 0.0% of IMF.

Level by level

Asset classEquity, Alternatives0.0%
Holdings0 in both0.0%
Sector11 Sectors67.7%

Sector

Sector weights in HOLD and IMF, widest gap first
Sector	More in HOLDMore in IMF	HOLD	IMF
Financials	IMF +16.7 points	11.0%	27.7%
Technology	HOLD +15.8 points	33.2%	17.4%
Industrials	IMF +6.8 points	9.0%	15.8%
Communication	HOLD +6.7 points	10.4%	3.7%
Energy	IMF +4.2 points	3.3%	7.5%
Consumer Discretionary	HOLD +4.0 points	10.4%	6.4%
Health Care	HOLD +3.9 points	10.3%	6.4%
Materials	IMF +3.7 points	2.2%	5.9%
Real Estate	HOLD +1.3 points	2.4%	1.1%
Utilities	IMF +1.1 points	2.4%	3.5%
Consumer Staples	HOLD +0.8 points	5.4%	4.6%

Country, concentration and asset class

Country by domicile

No country split for IMF.

Concentration

Weight in the 10 largest Holdings

HOLD103.9%
IMF162.8%

Securities held

HOLD8
IMF1

Asset class

HOLD: Equity
IMF: Alternatives

Holdings

Only in HOLD8
In both0
Only in IMF1

Only in HOLD

8 securities, 100% of HOLD by weight

Ishares Core S&P 500 Etf101.50%
MICRO GOLD Dec26 12/29/20261.20%
Micro WTI Crude F Jan27 12/18/20260.35%
Micro, EUR/USD Dec26 12/14/20260.34%
MICRO EMIN RUS2000Dec26 12/18/20260.25%
US 2YR NOTE (CBT) Dec26 12/31/20260.12%
Micro, CAD/USD Dec26 12/15/20260.07%
Micro, GBP/USD Dec26 12/14/2026<0.01%

Only in IMF

1 security, 71.2% of IMF by weight

Invesco Premier US Government Money Portfolio71.18%

Weight gaps

HOLD and IMF share no securities.

All HOLD holdings⁠All 35 IMF 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.

HOLD vs IMF Cost

Overpaying HOLD vs IMF

$889

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

HOLD 0.70%
$13,606
IMF 0.65%
$12,717

Amount$10,000

Years30 years

Cost over time

HOLD 0.70%
IMF 0.65%
Overpaying

Year by year

Year	HOLD	IMF	Overpaying
10	$1,250	$1,163	$87
20	$4,760	$4,440	$320
30	$13,606	$12,717	$889

Expense ratio

0.70%HOLD
0.65%IMF, cheaper

IMF0.65%HOLD0.70%

0.59%1.13%

Middle half of Managed Futures funds
Median 0.85%

IMF 2nd cheapest of 14 funds

HOLD 4th cheapest of 14 funds

HOLD vs IMF Dividends

Last 12 months to Oct 30, 2026

Last payment: HOLD $2.23; IMF $0.46
Ex-dividend: HOLD Dec 19, 2025; IMF Dec 22, 2025
Paid on: HOLD Dec 24, 2025; IMF Dec 26, 2025
Frequency: HOLD Irregular; IMF Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

HOLDIrregular · 1 paymentAll HOLD payments⁠

IMFIrregular · 1 paymentAll IMF payments⁠

HOLD vs IMF Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: HOLD 15.3%since Sep 2025IMF 11.8%since Apr 2025
Return per unit of riskSharpe ratio, 3 years: HOLD 0.39since Sep 2025IMF 0.16since Apr 2025
Worst fallMax drawdown, 5 years: HOLD −9.6%since Aug 2025IMF −15.1%since Mar 2025
Market sensitivityBeta, 5 years: HOLD 0.98IMF 0.09; Market = 1

HOLD and IMF in the news

All news⁠

ETF Filings
Winton proposes two managed-futures ETFs at 0.80% and 0.93%
Sep 22, 2026IMF

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HOLD vs IMF

In short

Stated mandate

Why people hold it

Worth knowing

How HOLD and IMF differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in HOLD

Only in IMF

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

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

How HOLD and IMF differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in HOLD

Only in IMF

Weight gaps