Data as of Nov 4, 2026.
ASMF vs FFUT: Correlation to the S&P 500
Over the year to Nov 4, 2026, FFUT moved less with the S&P 500 than ASMF: correlation +0.09 against +0.40.
askIQ about this page
askIQ about ASMF and FFUT
Net assets: $30m on Jul 31, 2026 for Virtus AlphaSimplex Managed Futures ETF, and $394m on Sep 30, 2026 for Fidelity Managed Futures ETF.
ASMF in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, ASMF −0.49%.
FFUT in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, FFUT −0.15%.
Pair scorecard
Both cost 0.80% a year; their one-year returns differ by 4.0 points.
| Measure | ASMF | FFUT |
|---|---|---|
| Return | ||
| Total return, 1 year | +13.2% | +17.2% |
| Against its benchmark | ||
| Treasury bills, 52 weeks | +3.7% | |
| Cost and size | ||
| Expense ratio | 0.80% | 0.80% |
| Net assets, ASMF as of Jul 31, 2026 and FFUT as of Sep 30, 2026 | $30m | $394m |
| Holdings | ||
| Holdings in common | not published | |
| Risk | ||
| Beta to the S&P 500 | +0.32: about 0.32% for each 1% | +0.08: about 0.08% for each 1% |
| Its average week when the S&P 500 fell | fell 0.49% | fell 0.15% |
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 →
Risk and return
Jun 13, 2025 to Oct 30, 2026 · 72 weekly returnsFrom Jun 2025 to Oct 2026, FFUT returned more: +27.4% to +20.3%. ASMF swung slightly less: 8.7% to 9.3%. FFUT fell slightly less at its worst: −4.2% to −4.6%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | ASMF | FFUT | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +20.3% | +27.4% | FFUT | Price change plus distributions, reinvested. |
| Annualized | +14.2% | +19.1% | FFUT | Total return as a yearly rate. |
| Price return | +20.0% | +24.7% | FFUT | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 8.7% | 9.3% | ASMF (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 5.7% | 5.4% | FFUT (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −4.6% | −4.2% | FFUT (slight) | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 1.12 | 1.52 | FFUT | Return above Treasury bills per unit of volatility. |
| Sortino | 1.72 | 2.61 | FFUT | Return above Treasury bills per unit of downside deviation. |
| Calmar | 3.11 | 4.54 | FFUT | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 72 weekly returns. Cash rate: the 13-week Treasury bill.
Window by window
| Total return | ||
|---|---|---|
| Window | ASMF | FFUT |
| 3 months | +2.5% | +0.9% |
| 6 months | +1.1% | +3.2% |
| 1 year | +13.2% | +17.2% |
| Since launchNot the same days: ASMF May 2024 · FFUT Jun 2025 | +6.6% | +22.4% |
Side by side
As of Nov 4, 2026. Source: ETFIQ.
One strategy, two funds
ASMF and FFUT both run a managed futures strategy. Over the same 52 weeks to Nov 4, 2026, ASMF’s weekly returns had a correlation of +0.40 with the S&P 500 and FFUT’s +0.09. In the 26 weeks the index fell, by 1.07% a week on average, ASMF averaged −0.49% and FFUT −0.15%. Over the same weeks, ASMF finished 9.2 percentage points ahead of cash and FFUT finished 13.4 points ahead of cash.
Client brief:
The two-page PDF for this pair is coming. Save the comparison to follow its changes. Free. It needs an email sign-in, once.
ASMF
ASMF 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 +0.40 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. The S&P 500 fell in 26 of those 52 weeks, by 1.07% on average. 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.
FFUT
FFUT is a managed futures fund. Over the year to Nov 4, 2026, its weekly returns had a correlation of +0.09 with the S&P 500’s and a beta of +0.08, so for each 1% the index moved it moved about 0.08% the same way. In the same weeks FFUT fell 0.15% on average, a down-week capture of 13.6%. Over the same 52 weeks FFUT returned +17.0% and a Treasury bill fund +3.7%, so it finished 13.4 percentage points ahead of cash.
Questions people ask
- Which moved less with the S&P 500, ASMF or FFUT?
- Over the 52 weeks to Nov 4, 2026, ASMF’s weekly returns had a correlation of +0.40 with the S&P 500 and FFUT’s +0.09, so FFUT moved less with the index.
- Which did better when the S&P 500 fell, ASMF or FFUT?
- In the 26 weeks the S&P 500 fell, by 1.07% a week on average, ASMF averaged −0.49% and FFUT −0.15%, so FFUT returned more in those weeks.
Links are sources, not endorsements. A comparison is not a recommendation.
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.
Cite this pageCitation, APA and Markdown
ETFIQ, ASMF against FFUT, data as of Nov 4, 2026. https://etfiq.com/compare/alternatives/asmf-vs-ffut
ETFIQ. (Nov 4, 2026). ASMF against FFUT. Retrieved from https://etfiq.com/compare/alternatives/asmf-vs-ffut
[ASMF against FFUT (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/alternatives/asmf-vs-ffut)
Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.