Data as of Nov 4, 2026.
ASMF vs IMF: Correlation to the S&P 500
Over the year to Nov 4, 2026, IMF moved less with the S&P 500 than ASMF: correlation +0.38 against +0.40.
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Net assets: $30m on Jul 31, 2026 for Virtus AlphaSimplex Managed Futures ETF, and $304m on Nov 3, 2026 for Invesco Managed Futures Strategy ETF.
ASMF in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, ASMF −0.49%.
IMF in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, IMF −0.14%.
Pair scorecard
IMF costs 0.15 points a year less; their one-year returns differ by 6.9 points.
| Measure | ASMF | IMF |
|---|---|---|
| Return | ||
| Total return, 1 year | +13.2% | +20.1% |
| Against its benchmark | ||
| Treasury bills, 52 weeks | +3.7% | |
| Cost and size | ||
| Expense ratio | 0.80% | 0.65% |
| Net assets, ASMF as of Jul 31, 2026 and IMF as of Nov 3, 2026 | $30m | $304m |
| Holdings | ||
| Holdings in common | not published | |
| Risk | ||
| Beta to the S&P 500 | +0.32: about 0.32% for each 1% | +0.24: about 0.24% for each 1% |
| Its average week when the S&P 500 fell | fell 0.49% | fell 0.14% |
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 | ASMF | IMF |
| 3 months | +2.5% | +0.4% |
| 6 months | +1.1% | 0.0% |
| 1 year | +13.2% | +20.1% |
| Since launchNot the same days: ASMF May 2024 · IMF Mar 2025 | +6.6% | +4.3% |
Side by side
As of Nov 4, 2026. Source: ETFIQ.
One strategy, two funds
ASMF and IMF 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 IMF’s +0.38. In the 26 weeks the index fell, by 1.07% a week on average, ASMF averaged −0.49% and IMF −0.14%. Over the same weeks, ASMF finished 9.2 percentage points ahead of cash and IMF finished 15.6 points ahead of cash.
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.
IMF
IMF is a managed futures fund. Over the year to Nov 4, 2026, its weekly returns had a correlation of +0.38 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 IMF fell 0.14% on average, a down-week capture of 13.0%. Over the same 52 weeks IMF returned +19.2% and a Treasury bill fund +3.7%, so it finished 15.6 percentage points ahead of cash.
Questions people ask
- Which moved less with the S&P 500, ASMF or IMF?
- Over the 52 weeks to Nov 4, 2026, ASMF’s weekly returns had a correlation of +0.40 with the S&P 500 and IMF’s +0.38, so IMF moved less with the index.
- Which did better when the S&P 500 fell, ASMF or IMF?
- In the 26 weeks the S&P 500 fell, by 1.07% a week on average, ASMF averaged −0.49% and IMF −0.14%, so IMF 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, ASMF against IMF, data as of Nov 4, 2026. https://etfiq.com/compare/alternatives/asmf-vs-imf
ETFIQ. (Nov 4, 2026). ASMF against IMF. Retrieved from https://etfiq.com/compare/alternatives/asmf-vs-imf
[ASMF against IMF (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/alternatives/asmf-vs-imf)
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