{"url":"https://etfiq.com/compare/alternatives/fmf-vs-hold","section":"compare","title":"FMF vs HOLD: Correlation to the S&P 500 | ETFIQ","description":"FMF and HOLD both run managed futures strategies. Over the year to Nov 4, 2026, FMF had a correlation of +0.16 with the S&P 500 and HOLD +0.66.","as_of":"Nov 4, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which moved less with the S&P 500, FMF or HOLD?","acceptedAnswer":{"@type":"Answer","text":"Over the 52 weeks to Nov 4, 2026, FMF\u2019s weekly returns had a correlation of +0.16 with the S&P 500 and HOLD\u2019s +0.66, so FMF moved less with the index."}},{"@type":"Question","name":"Which did better when the S&P 500 fell, FMF or HOLD?","acceptedAnswer":{"@type":"Answer","text":"In the 26 weeks the S&P 500 fell, by 1.07% a week on average, FMF averaged \u22120.11% and HOLD \u22121.29%, so FMF returned more in those weeks."}},{"@type":"Question","name":"Which earned more than cash, FMF or HOLD?","acceptedAnswer":{"@type":"Answer","text":"Over the same weeks, FMF finished 6.9 percentage points ahead of cash and HOLD finished 3.3 percentage points behind cash. Cash here is BIL, a fund of Treasury bills."}},{"@type":"Question","name":"Which is cheaper, FMF or HOLD?","acceptedAnswer":{"@type":"Answer","text":"FMF charges 0.98% a year and HOLD charges 0.70%, so HOLD is cheaper. Fees come from each fund's prospectus."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Alternatives ETFs","item":"https://etfiq.com/alternatives/"},{"@type":"ListItem","position":3,"name":"Compare ETFs","item":"https://etfiq.com/compare/"},{"@type":"ListItem","position":4,"name":"FMF vs HOLD","item":"https://etfiq.com/compare/alternatives/fmf-vs-hold"}]},{"@type":"WebPage","name":"FMF vs HOLD: Correlation to the S&P 500","description":"FMF and HOLD both run managed futures strategies. Over the year to Nov 4, 2026, FMF had a correlation of +0.16 with the S&P 500 and HOLD +0.66.","url":"https://etfiq.com/compare/alternatives/fmf-vs-hold","dateModified":"2026-11-04","abstract":"Over the year to Nov 4, 2026, FMF moved less with the S&P 500 than HOLD: correlation +0.16 against +0.66.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of FMF and HOLD","description":"FMF and HOLD both run managed futures strategies. Over the year to Nov 4, 2026, FMF had a correlation of +0.16 with the S&P 500 and HOLD +0.66.","dateModified":"2026-11-04","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/alternatives/fmf-vs-hold","license":"https://etfiq.com/license/","publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published","distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/alternatives.json"}],"variableMeasured":["Correlation with the S&P 500","Beta to the S&P 500","Down-week capture","Average week when the S&P 500 fell","Return against T-bills","Total return","Strategy","Expense ratio"],"keywords":["exchange-traded funds","ETF","Alternatives ETFs","fund data","SEC filings"]}],"characters":6986,"truncated":true,"content":"ETFIQ / Alternatives ETFs / Compare ETFs / FMF vs HOLD \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Nov 4, 2026 .\n\n FMF vs HOLD: Correlation to the S&P 500\n\n Over the year to Nov 4, 2026, FMF moved less with the S&P 500 than HOLD: correlation +0.16 against +0.66.\n Copy this for sharing \n \n HOLD costs 0.28 points a year less; their one-year returns differ by 10.3 points; FMF is far larger, $298m against $3.9m.\n FMF and HOLD at a glance. As of Nov 4, 2026. Source: ETFIQ. FMF HOLD \n Expense ratio 0.98% 0.70% \n Net assets, as of Nov 3, 2026 $298m $3.9m \n Total return, 1 year +11.1% +0.8%","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","license_text":"Data ETFIQ computes is free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.","citation":"ETFIQ, FMF against HOLD, data as of Nov 4, 2026. https://etfiq.com/compare/alternatives/fmf-vs-hold","a":{"ticker":"FMF","name":"First Trust Managed Futures Strategy Fund","issuer":"First Trust","desk":"alternatives","as_of":"2026-11-04","verdict":"Over the year to Nov 4, 2026, FMF returned 11.1%. When the S&P 500 fell, it fell 10% as much.","url":"https://etfiq.com/funds/fmf","key_facts":[{"label":"Correlation with the S&P 500","value":"+0.16","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Beta to the S&P 500","value":"+0.11","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Down-week capture","value":"9.9%","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Against T-bills, 52 weeks","value":"+6.9 pts","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"12-month yield, capital gains included, on its starting price","value":"5.2%","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices and distributions"},{"label":"Last payment (paid quarterly), ex-date Sep 24, 2026","value":"$0.2315","as_of":"2026-09-24","source":"Tiingo end-of-day distributions"},{"label":"Net assets","value":"$298m","as_of":"2026-11-03","source":"issuer page, as of Nov 3, 2026"},{"label":"Expense ratio","value":"0.98%","as_of":"2026-04-30","source":"485BPOS XBRL, Apr 30, 2026"}]},"b":{"ticker":"HOLD","name":"Harbor Alpha Layering ETF","issuer":"Harbor","desk":"alternatives","as_of":"2026-11-04","verdict":"Over the year to Nov 4, 2026, HOLD returned 0.8%, against 14.8% for VOO.","url":"https://etfiq.com/funds/hold","key_facts":[{"label":"Correlation with the S&P 500","value":"+0.66","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Beta to the S&P 500","value":"+0.81","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Down-week capture","value":"120.5%","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"Against T-bills, 52 weeks","value":"\u22123.3 pts","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices"},{"label":"12-month yield, capital gains included, on its starting price","value":"6.8%","as_of":"2026-11-04","source":"computed by ETFIQ from Tiingo daily prices and distributions"},{"label":"Last payment, ex-date Dec 19, 2025","value":"$2.2277","as_of":"2025-12-19","source":"Tiingo end-of-day distributions"},{"label":"Net assets","value":"$3.9m","as_of":"2026-11-04","source":"issuer page, as of Nov 4, 2026"},{"label":"Expense ratio","value":"0.70%","as_of":"2026-02-27","source":"485BPOS XBRL, Feb 27, 2026"}]},"overlap_pct":null,"overlap_note":"ETFIQ does not publish a holdings overlap for this pair. Either the funds are not compared on holdings, or one book is incomplete.","full_text_at":"https://etfiq.com/compare/alternatives/fmf-vs-hold"}