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ISMF vs TFPN

Ishares Managed Futures Active ETF

ISMFBCboe

Blueprint Chesapeake Multi-Asset Trend ETF

TFPNFNYSE Arca

Overlap

Expense ratio

ISMF −0.33pt a year

ISMF0.80%TFPN1.13%

Avg volume · 30D

ISMF 2.2×the volume

ISMF23.4KTFPN10.8K

ISMF vs TFPN Performance

Oct 31, 2025 – Oct 30, 2026

+12.1%ISMF+15.5%TFPN

Oct 31, 2025 to Oct 30, 2026. ISMF +12.1%. TFPN +15.5%. Use the arrow keys to read each point.−5%0%5%20%25%Oct 2025Apr 2026Oct 2026
Expense ratio
ISMF 0.80%, better
TFPN 1.13%
Fund size
ISMF $37M
TFPN $158M
1Y total return
ISMF +12.1%
TFPN +15.5%, better
Yield (12M)
ISMF No data
TFPN 0.00%
Holdings
ISMF 17
TFPN 61
Avg volume (30D)
ISMF 23.4K sh, better
TFPN 10.8K sh
NAV per share
ISMF $28.29
TFPN $29.61
52W range

ETF.net Grade

ISMF: Cost 63, Risk 81, Mission not scored, Tradability 64, Holdings not scored, Durability 46. TFPN: Cost 0, Risk 35, Mission not scored, Tradability 46, Holdings not scored, Durability 57.
Pillar letters and Scores for ISMF, TFPN, with each pillar’s weight
PillarISMFTFPN
Cost30% weightB63HigherF0
Mission25% weightNot scoredNot scored
Risk15% weightA81HigherD35
Tradability15% weightB64HigherC46
Holdings10% weightNot scoredNot scored
Durability5% weightC46B57Higher

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. ISMF and TFPN 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 TFPN 13th 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 12DMATEMan Active Trend Enhanced ETFScore 27
  6. Rank 13FTFPNBlueprint Chesapeake Multi-Asset Trend ETFScore 23
  7. Rank 14FTFFIChesapeake Trend-Following Fixed Income ETFScore 18

Our read on each fund

ETF.net Research

ISMFBIshares Managed Futures Active ETF

TFPNFBlueprint Chesapeake Multi-Asset Trend ETF

In short

ISMF No data

TFPN The ticker is the thesis: Trend Following Plus Nothing. Original Turtle trader Jerry Parker rides price trends long or short across currencies, commodities, bonds and individual stocks, with no stock-index core bolted underneath it.

Stated mandate

ISMF No data

TFPN The Fund seeks to preserve capital while pursuing long-term capital appreciation.

Why people hold it

ISMF No data

  • TFPN Subadvised by Chesapeake Capital, founded in 1988 by Jerry Parker, one of Richard Dennis's original Turtles. These trend rules have a long history behind them, not a 2023 launch idea.blueprintip.comlinkedin.comwikipedia.org
  • The equity sleeve trades individual stocks long and short, so single-name trends sit alongside the futures book instead of everything running through index futures.sec.govblueprintip.com
  • One strategy, no bolt-ons: the managers call it "trend following plus nothing," applied long, short or flat across currencies, commodities, fixed income and equities in global markets.blueprintip.com
  • Wrapped as a 1940 Act ETF that reports on a 1099, so there is no K-1 at tax time, with derivatives exposure routed through a wholly owned Cayman subsidiary.blueprintip.com

Worth knowing

ISMF No data

  • TFPN Cost is the trade-off for the pedigree: 1.13%, above the category median (15 funds) and with no waiver trimming it. JPFP runs 0.59% and CTA 0.75%.
  • Trend following needs trends. Choppy, direction-free markets are where this kind of system gets whipsawed, and the book can be short something the crowd is busy buying.blueprintip.com
  • One of the less-traded names in the managed futures aisle, so spreads can run wider than at the category's giants. Limit orders matter more here.

Full ISMF profile⁠

Full TFPN profile⁠

ISMF vs TFPN 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.

ISMF vs TFPN Cost

Overpaying TFPN vs ISMF

$5,418

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

  • ISMF 0.80%

    $15,346

  • TFPN 1.13%

    $20,764

$10,000
30 years

Cost over time

  • ISMF 0.80%
  • TFPN 1.13%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K$25K051015202530TFPN $20,764ISMF $15,346

Year by year

YearISMFTFPNOverpaying
10$1,422$1,981$559
20$5,393$7,403$2,010
30$15,346$20,764$5,418

Expense ratio

  • 0.80%ISMF, cheaper
  • 1.13%TFPN
  • Middle half of Managed Futures funds
  • Median 0.85%

ISMF 5th cheapest of 14 funds

TFPN 14th cheapest of 14 funds

ISMF vs TFPN Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
ISMF No data
TFPN 0.00%
Payout (12M)
ISMF No data
TFPN None
Last payment
ISMF $1.64
TFPN No data
Ex-dividend
ISMF Dec 16, 2025
TFPN No data
Paid on
ISMF Dec 19, 2025
TFPN No data
Frequency
ISMF Irregular
TFPN No data

Distribution history

Per share, 2023 to 2026, same scale for both

ISMFIrregular · 1 paymentAll ISMF payments⁠
One bar per payment. 1 payment from 2023 to 2026 YTD. Dec 16, 2025 $1.64. Use the arrow keys to read each point.$0$120232026YTD
TFPN2 paymentsAll TFPN payments⁠
One bar per payment. 2 payments from 2023 to 2026 YTD. Dec 5, 2023 $0.24; Dec 5, 2024 $0.23. Use the arrow keys to read each point.$0$120232026YTD

ISMF vs TFPN Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
ISMF 6.6%since Apr 2025TFPN 13.7%
Return per unit of riskSharpe ratio, 3 years
ISMF 1.10since Apr 2025TFPN 0.16
Worst fallMax drawdown, 5 years
ISMF −4.2%since Mar 2025TFPN −16.7%since Jul 2023
Market sensitivityBeta, 5 years
ISMF 0.23TFPN 0.59

ISMF and TFPN in the news

All news⁠

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