Data as of Nov 4, 2026.
ASMF vs ISMF: Correlation to the S&P 500
Over the year to Nov 4, 2026, ASMF moved less with the S&P 500 than ISMF: correlation +0.40 against +0.48.
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Net assets: $30m on Jul 31, 2026 for Virtus AlphaSimplex Managed Futures ETF, and $37m on Nov 3, 2026 for iShares Managed Futures Active ETF.
ASMF in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, ASMF −0.49%.
ISMF in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, ISMF −0.38%.
Pair scorecard
Both cost 0.80% a year; their one-year returns differ by 2.3 points.
| Measure | ASMF | ISMF |
|---|---|---|
| Return | ||
| Total return, 1 year | +13.2% | +10.9% |
| 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 ISMF as of Nov 3, 2026 | $30m | $37m |
| Holdings | ||
| Holdings in common | not published | |
| Risk | ||
| Beta to the S&P 500 | +0.32: about 0.32% for each 1% | +0.31: about 0.31% for each 1% |
| Its average week when the S&P 500 fell | fell 0.49% | fell 0.38% |
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 | ISMF |
| 3 months | +2.5% | −0.7% |
| 6 months | +1.1% | −1.1% |
| 1 year | +13.2% | +10.9% |
| Since launchNot the same days: ASMF May 2024 · ISMF Mar 2025 | +6.6% | +17.9% |
Side by side
As of Nov 4, 2026. Source: ETFIQ.
One strategy, two funds
ASMF and ISMF 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 ISMF’s +0.48. In the 26 weeks the index fell, by 1.07% a week on average, ASMF averaged −0.49% and ISMF −0.38%. Over the same weeks, ASMF finished 9.2 percentage points ahead of cash and ISMF finished 6.8 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.
ISMF
ISMF is a managed futures fund. Over the year to Nov 4, 2026, its weekly returns had a correlation of +0.48 with the S&P 500’s and a beta of +0.31, so for each 1% the index moved it moved about 0.31% the same way. In the same weeks ISMF fell 0.38% on average, a down-week capture of 35.9%. Over the same 52 weeks ISMF returned +10.5% and a Treasury bill fund +3.7%, so it finished 6.8 percentage points ahead of cash.
Questions people ask
- Which moved less with the S&P 500, ASMF or ISMF?
- Over the 52 weeks to Nov 4, 2026, ASMF’s weekly returns had a correlation of +0.40 with the S&P 500 and ISMF’s +0.48, so ASMF moved less with the index.
- Which did better when the S&P 500 fell, ASMF or ISMF?
- In the 26 weeks the S&P 500 fell, by 1.07% a week on average, ASMF averaged −0.49% and ISMF −0.38%, so ISMF 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 ISMF, data as of Nov 4, 2026. https://etfiq.com/compare/alternatives/asmf-vs-ismf
ETFIQ. (Nov 4, 2026). ASMF against ISMF. Retrieved from https://etfiq.com/compare/alternatives/asmf-vs-ismf
[ASMF against ISMF (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/alternatives/asmf-vs-ismf)
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