Data as of Nov 4, 2026.
AHLT vs ASMF: Correlation to the S&P 500
Over the year to Nov 4, 2026, ASMF moved less with the S&P 500 than AHLT: correlation +0.40 against +0.47.
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Net assets on Jul 31, 2026: $131m for AHL Trend ETF and $30m for Virtus AlphaSimplex Managed Futures ETF.
AHLT in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, AHLT −0.88%.
ASMF in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, ASMF −0.49%.
Pair scorecard
ASMF costs 0.16 points a year less; their one-year returns differ by 6.1 points; AHLT is 4.4 times larger.
| Measure | AHLT | ASMF |
|---|---|---|
| Return | ||
| Total return, 1 year | +19.3% | +13.2% |
| Against its benchmark | ||
| Treasury bills, 52 weeks | +3.7% | |
| Cost and size | ||
| Expense ratio | 0.96% | 0.80% |
| Net assets, as of Jul 31, 2026 | $131m | $30m |
| Holdings | ||
| Holdings in common | not published | |
| Risk | ||
| Beta to the S&P 500 | +0.58: about 0.58% for each 1% | +0.32: about 0.32% for each 1% |
| Its average week when the S&P 500 fell | fell 0.88% | fell 0.49% |
How much it diversifies a stock portfolio, ranked against 17 systematic trend alternatives ETFs with a full year. 100 is best. How it is computed
One year of weekly moves against the S&P 500, within one strategy; it ignores what the fund returned. All alternatives ETFs ranked by it →
Window by window
| Total return | ||
|---|---|---|
| Window | AHLT | ASMF |
| 3 months | +2.3% | +2.5% |
| 6 months | +0.3% | +1.1% |
| 1 year | +19.3% | +13.2% |
| 3 years | +22.1% | – |
| Since launchNot the same days: AHLT Aug 2023 · ASMF May 2024 | +22.2% | +6.6% |
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Side by side
As of Nov 4, 2026. Source: ETFIQ.
One strategy, two funds
AHLT and ASMF both run a managed futures strategy. Over the same 52 weeks to Nov 4, 2026, AHLT’s weekly returns had a correlation of +0.47 with the S&P 500 and ASMF’s +0.40. In the 26 weeks the index fell, by 1.07% a week on average, AHLT averaged −0.88% and ASMF −0.49%. Over the same weeks, AHLT finished 14.7 percentage points ahead of cash and ASMF finished 9.2 points ahead of cash.
AHLT
AHLT is a managed futures fund. ETFIQ measures what every alternatives fund is sold on: whether it moves differently from the stock market. Over the year to Nov 4, 2026, its weekly returns had a correlation of +0.47 with the S&P 500’s and a beta of +0.58, so for each 1% the index moved it moved about 0.58% the same way. The S&P 500 fell in 26 of those 52 weeks, by 1.07% on average. In the same weeks AHLT fell 0.88% on average, a down-week capture of 81.7%. Over the same 52 weeks AHLT returned +18.3% and a Treasury bill fund +3.7%, so it finished 14.7 percentage points ahead of cash.
ASMF
ASMF is a managed futures fund. Over the year to Nov 4, 2026, its weekly returns had a correlation of +0.40 with the S&P 500’s and a beta of +0.32, so for each 1% the index moved it moved about 0.32% the same way. In the same weeks ASMF fell 0.49% on average, a down-week capture of 45.9%. Over the same 52 weeks ASMF returned +12.9% and a Treasury bill fund +3.7%, so it finished 9.2 percentage points ahead of cash.
Questions people ask
- Which moved less with the S&P 500, AHLT or ASMF?
- Over the 52 weeks to Nov 4, 2026, AHLT’s weekly returns had a correlation of +0.47 with the S&P 500 and ASMF’s +0.40, so ASMF moved less with the index.
- Which did better when the S&P 500 fell, AHLT or ASMF?
- In the 26 weeks the S&P 500 fell, by 1.07% a week on average, AHLT averaged −0.88% and ASMF −0.49%, so ASMF returned more in those weeks.
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How this is computed
It is a place in a set, not a rating or a recommendation.
Every number is an ETFIQ calculation with distributions reinvested.
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ETFIQ, AHLT against ASMF, data as of Nov 4, 2026. https://etfiq.com/compare/alternatives/ahlt-vs-asmf
ETFIQ. (Nov 4, 2026). AHLT against ASMF. Retrieved from https://etfiq.com/compare/alternatives/ahlt-vs-asmf
[AHLT against ASMF (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/alternatives/ahlt-vs-asmf)
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