Data as of .
AHLT vs HFMF: which moved less with stocks?
Over the year to Sep 18, 2026, HFMF moved less with the S&P 500 than AHLT: correlation +0.20 against +0.40.
ETFIQ Diversifier Score: HFMF scores higher
How much does it diversify a stock portfolio?
A percentile among the 63 alternatives ETFs with a full year. It is a position in a set, not a rating, and neither end of it is a recommendation. All alternatives ETFs ranked by it · How it is computed
One strategy, two funds
AHLT and HFMF both run a managed futures strategy. Over the same 52 weeks to Sep 18, 2026, AHLT’s weekly returns had a correlation of +0.40 with the S&P 500 and HFMF’s +0.20. In the 22 weeks the index fell, by 1.24% a week on average, AHLT averaged −0.10% and HFMF −0.16%. Over the same weeks, AHLT finished 27.9 percentage points ahead of cash and HFMF finished 5.0 points ahead of cash.
Performance, window by window
| Window | Total return | vs the S&P 500 | ||
|---|---|---|---|---|
| AHLT | HFMF | AHLT | HFMF | |
| 3 months | +4.3% | +2.9% | +2.0 pts | +0.6 pts |
| 6 months | +8.3% | −2.9% | −9.7 pts | −20.9 pts |
| 1 year | +32.0% | +8.7% | +15.4 pts | −7.9 pts |
| 3 years | +22.5% | not published | −55.9 pts | not published |
| Since launch | +27.9% | +14.1% | −48.1 pts | −10.0 pts |
| AHLT AHL Trend ETF Managed futures fund: follows price trends in futures on stocks, bonds, currencies and commodities, and can bet on falls as well as rises | HFMF Unlimited HFMF Managed Futures ETF Managed futures fund: follows price trends in futures on stocks, bonds, currencies and commodities, and can bet on falls as well as rises | |
|---|---|---|
| Issuer | American Beacon | Unlimited |
| Strategy | Managed futures | Managed futures |
| Correlation with the S&P 500 | +0.40 | +0.20 |
| Beta to the S&P 500 | +0.42 | +0.24 |
| Down-week capture | 8.0% | 12.7% |
| Average week when the S&P 500 fell | −0.10% | −0.16% |
| The S&P 500 in those weeks | −1.24% | −1.24% |
| Total return, same 52 weeks | +31.6% | +8.7% |
| Against T-bills, percentage points | +27.9 pts | +5.0 pts |
| Expense ratio | 0.96% | 0.97% |
| Listed | Aug 31, 2023 | Jul 15, 2025 |
| Net assets | $50m | $23m |
AHLT in plain words
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 Sep 18, 2026, its weekly returns had a correlation of +0.40 with the S&P 500’s and a beta of +0.42, so for each 1% the index moved it moved about 0.42% the same way. The S&P 500 fell in 22 of those 52 weeks, by 1.24% on average. In the same weeks AHLT fell 0.10% on average, a down-week capture of 8.0%. Over the same 52 weeks AHLT returned +31.6% and a Treasury bill fund +3.6%, so it finished 27.9 percentage points ahead of cash.
HFMF in plain words
HFMF is a managed futures fund. Over the year to Sep 18, 2026, its weekly returns had a correlation of +0.20 with the S&P 500’s and a beta of +0.24, so for each 1% the index moved it moved about 0.24% the same way. In the same weeks HFMF fell 0.16% on average, a down-week capture of 12.7%. Over the same 52 weeks HFMF returned +8.7% and a Treasury bill fund +3.6%, so it finished 5.0 percentage points ahead of cash.
Questions people ask
- Which moved less with the S&P 500, AHLT or HFMF?
- Over the 52 weeks to Sep 18, 2026, AHLT’s weekly returns had a correlation of +0.40 with the S&P 500 and HFMF’s +0.20, so HFMF moved less with the index.
- Which did better when the S&P 500 fell, AHLT or HFMF?
- In the 22 weeks the S&P 500 fell, by 1.24% a week on average, AHLT averaged −0.10% and HFMF −0.16%, so AHLT returned more in those weeks.
- Which earned more than cash, AHLT or HFMF?
- Over the same weeks, AHLT finished 27.9 percentage points ahead of cash and HFMF finished 5.0 percentage points ahead of cash. Cash here is BIL, a fund of Treasury bills.
- Which is cheaper, AHLT or HFMF?
- AHLT charges 0.96% a year and HFMF charges 0.97%, so AHLT is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, AHLT against HFMF, data as of Sep 18, 2026. https://etfiq.com/compare/alternatives/ahlt-vs-hfmf Free to use with attribution; the underlying files are at Open data.