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HOLD vs ISMF

Harbor Alpha Layering ETF (HOLD)

HOLDCNYSE Arca

Ishares Managed Futures Active ETF

ISMFBCboe

Overlap

Expense ratio

HOLD −0.10pt a year

HOLD0.70%ISMF0.80%

Avg volume · 30D

ISMF 12.1×the volume

HOLD1.93KISMF23.4K

HOLD vs ISMF Performance

Oct 31, 2025 – Oct 30, 2026

+1.3%HOLD+12.1%ISMF

Oct 31, 2025 to Oct 30, 2026. HOLD +1.3%. ISMF +12.1%. Use the arrow keys to read each point.−5%5%15%Oct 2025Apr 2026Oct 2026
Expense ratio
HOLD 0.70%, better
ISMF 0.80%
Fund size
HOLD $4M
ISMF $37M
1Y total return
HOLD +1.3%
ISMF +12.1%, better
Holdings
HOLD 10
ISMF 17
Avg volume (30D)
HOLD 1.93K sh
ISMF 23.4K sh, better
NAV per share
HOLD $31.38
ISMF $28.29
52W range

ETF.net Grade

HOLD: Cost 80, Risk 26, Mission not scored, Tradability 32, Holdings 30, Durability 35. ISMF: Cost 63, Risk 81, Mission not scored, Tradability 64, Holdings not scored, Durability 46.
Pillar letters and Scores for HOLD, ISMF, with each pillar’s weight
PillarHOLDISMF
Cost30% weightA80HigherB63
Mission25% weightNot scoredNot scored
Risk15% weightD26A81Higher
Tradability15% weightD32B64Higher
Holdings10% weightD30Not scored
Durability5% weightD35C46Higher

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. HOLD 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 HOLD 10th 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 8CKMLMKraneShares Mount Lucas Managed Futures Index Strategy ETFScore 45
  6. Rank 10CHOLDHarbor Alpha Layering ETF (HOLD)Score 40
  7. Rank 11DHFMFUnlimited HFMF Managed Futures ETFScore 28

Our read on each fund

ETF.net Research

HOLDCHarbor Alpha Layering ETF (HOLD)

ISMFBIshares Managed Futures Active 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.

ISMF 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.

ISMF 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.

ISMF 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.

ISMF No data

Full HOLD profile⁠

Full ISMF profile⁠

HOLD 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.

HOLD vs ISMF Cost

Overpaying ISMF vs HOLD

$1,740

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

  • HOLD 0.70%

    $13,606

  • ISMF 0.80%

    $15,346

$10,000
30 years

Cost over time

  • HOLD 0.70%
  • ISMF 0.80%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530ISMF $15,346HOLD $13,606

Year by year

YearHOLDISMFOverpaying
10$1,250$1,422$172
20$4,760$5,393$633
30$13,606$15,346$1,740

Expense ratio

  • 0.70%HOLD, cheaper
  • 0.80%ISMF
  • Middle half of Managed Futures funds
  • Median 0.85%

HOLD 4th cheapest of 14 funds

ISMF 5th cheapest of 14 funds

HOLD vs ISMF Dividends

Last 12 months to Oct 30, 2026
Last payment
HOLD $2.23
ISMF $1.64
Ex-dividend
HOLD Dec 19, 2025
ISMF Dec 16, 2025
Paid on
HOLD Dec 24, 2025
ISMF Dec 19, 2025
Frequency
HOLD Irregular
ISMF Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

HOLDIrregular · 1 paymentAll HOLD payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 19, 2025 $2.23. Use the arrow keys to read each point.$0$2.502026YTD
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$2.502026YTD

HOLD vs ISMF 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 2025ISMF 6.6%since Apr 2025
Return per unit of riskSharpe ratio, 3 years
HOLD 0.39since Sep 2025ISMF 1.10since Apr 2025
Worst fallMax drawdown, 5 years
HOLD −9.6%since Aug 2025ISMF −4.2%since Mar 2025
Market sensitivityBeta, 5 years
HOLD 0.98ISMF 0.23

HOLD and ISMF in the news

All news⁠

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