Data as of .
HOLD vs TFPN: which moved less with stocks?
Over the year to Sep 18, 2026, TFPN moved less with the S&P 500 than HOLD: correlation +0.46 against +0.57.
ETFIQ Diversifier Score: TFPN 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
HOLD and TFPN both run a managed futures strategy. Over the same 52 weeks to Sep 18, 2026, HOLD’s weekly returns had a correlation of +0.57 with the S&P 500 and TFPN’s +0.46. In the 22 weeks the index fell, by 1.24% a week on average, HOLD averaged −0.49% and TFPN −0.32%. Over the same weeks, HOLD finished 10.2 percentage points ahead of cash and TFPN finished 18.9 points ahead of cash.
Performance, window by window
| Window | Total return | vs the S&P 500 | ||
|---|---|---|---|---|
| HOLD | TFPN | HOLD | TFPN | |
| 3 months | −0.8% | −6.7% | −3.1 pts | −9.0 pts |
| 6 months | +8.9% | +10.2% | −9.1 pts | −7.8 pts |
| 1 year | +14.0% | +24.3% | −2.6 pts | +7.8 pts |
| 3 years | not published | +23.5% | not published | −54.9 pts |
| Since launch | +16.8% | +23.2% | −2.9 pts | −54.5 pts |
| HOLD Harbor Alpha Layering ETF Managed futures fund: follows price trends in futures on stocks, bonds, currencies and commodities, and can bet on falls as well as rises | TFPN Blueprint Chesapeake Multi-Asset 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 | |
|---|---|---|
| Issuer | Harbor | Blueprint |
| Strategy | Managed futures | Managed futures |
| Correlation with the S&P 500 | +0.57 | +0.46 |
| Beta to the S&P 500 | +0.60 | +0.49 |
| Down-week capture | 39.5% | 25.7% |
| Average week when the S&P 500 fell | −0.49% | −0.32% |
| The S&P 500 in those weeks | −1.24% | −1.24% |
| Total return, same 52 weeks | +13.8% | +22.5% |
| Against T-bills, percentage points | +10.2 pts | +18.9 pts |
| Expense ratio | 0.70% | 1.96% |
| Listed | Aug 14, 2025 | Jul 12, 2023 |
| Net assets | $8m | $170m |
HOLD in plain words
HOLD 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 +0.57 with the S&P 500’s and a beta of +0.60, so for each 1% the index moved it moved about 0.60% the same way. The S&P 500 fell in 22 of those 52 weeks, by 1.24% on average. In the same weeks HOLD fell 0.49% on average, a down-week capture of 39.5%. Over the same 52 weeks HOLD returned +13.8% and a Treasury bill fund +3.6%, so it finished 10.2 percentage points ahead of cash.
TFPN in plain words
TFPN is a managed futures fund. Over the year to Sep 18, 2026, its weekly returns had a correlation of +0.46 with the S&P 500’s and a beta of +0.49, so for each 1% the index moved it moved about 0.49% the same way. In the same weeks TFPN fell 0.32% on average, a down-week capture of 25.7%. Over the same 52 weeks TFPN returned +22.5% and a Treasury bill fund +3.6%, so it finished 18.9 percentage points ahead of cash.
Questions people ask
- Which moved less with the S&P 500, HOLD or TFPN?
- Over the 52 weeks to Sep 18, 2026, HOLD’s weekly returns had a correlation of +0.57 with the S&P 500 and TFPN’s +0.46, so TFPN moved less with the index.
- Which did better when the S&P 500 fell, HOLD or TFPN?
- In the 22 weeks the S&P 500 fell, by 1.24% a week on average, HOLD averaged −0.49% and TFPN −0.32%, so TFPN returned more in those weeks.
- Which earned more than cash, HOLD or TFPN?
- Over the same weeks, HOLD finished 10.2 percentage points ahead of cash and TFPN finished 18.9 percentage points ahead of cash. Cash here is BIL, a fund of Treasury bills.
- Which is cheaper, HOLD or TFPN?
- HOLD charges 0.70% a year and TFPN charges 1.96%, so HOLD 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, HOLD against TFPN, data as of Sep 18, 2026. https://etfiq.com/compare/alternatives/hold-vs-tfpn Free to use with attribution; the underlying files are at Open data.