Which did better when the S&P 500 fell, HOLD or WTMF?

In the 26 weeks the S&P 500 fell, by 1.07% a week on average, HOLD averaged −1.29% and WTMF −0.37%, so WTMF returned more in those weeks.

Which earned more than cash, HOLD or WTMF?

Over the same weeks, HOLD finished 3.3 percentage points behind cash and WTMF finished 8.1 percentage points ahead of cash. Cash here is BIL, a fund of Treasury bills.

Which is cheaper, HOLD or WTMF?

HOLD charges 0.70% a year and WTMF charges 0.66%, so WTMF is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Alternative ETFs

HOLD vs WTMF: Correlation to the S&P 500

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Over the year to Nov 4, 2026, WTMF moved less with the S&P 500 than HOLD: correlation +0.62 against +0.66.

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Net assets: $3.9m on Nov 4, 2026 for Harbor Alpha Layering ETF, and $261m on Aug 31, 2026 for WisdomTree Managed Futures Strategy Fund.

HOLD on its own →WTMF on its own →

At a glance

+0.66

HOLD correlation with the S&P 500

+0.62

WTMF correlation with the S&P 500

120.5%

HOLD down-week capture

34.4%

WTMF down-week capture

HOLD Fell more than the S&P 500

HOLD in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, HOLD −1.29%.

WTMF Fell 34% as much as the S&P 500

WTMF in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, WTMF −0.37%.

Pair scorecard

WTMF costs 0.04 points a year less; their one-year returns differ by 11.9 points.

HOLD vs WTMF: Correlation to the S&P 500
Measure	HOLD	WTMF
Return
Measure	HOLD	WTMF
Total return, 1 year	+0.8%	+12.7%
Against its benchmark
Measure	HOLD	WTMF
Treasury bills, 52 weeks	+3.7%
Cost and size
Measure	HOLD	WTMF
Expense ratio	0.70%	0.66%
Net assets, HOLD as of Nov 4, 2026 and WTMF as of Aug 31, 2026	$3.9m	$261m
Holdings
Measure	HOLD	WTMF
Holdings in common	not published
Risk
Measure	HOLD	WTMF
Beta to the S&P 500	+0.81: about 0.81% for each 1%	+0.38: about 0.38% for each 1%
Its average week when the S&P 500 fell	fell 1.29%	fell 0.37%

ETFIQ Stock Diversification Score · WTMF scores higher How much does it diversify a stock portfolio?

IQ Alternatives Score17.6HOLD44.1WTMF

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

HOLD 17.6

WTMF 44.1

2.9, the lowest in this set 94.2, the highest

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 →

Method

Window by window

Window by window: HOLD vs WTMF: Correlation to the S&P 500
	Total return		vs its benchmark
Window	HOLD	WTMF	HOLD	WTMF
3 months	−3.1%	+1.6%	−3.0 pts vs VOO	not measured
6 months	−7.5%	+3.0%	−12.5 pts vs VOO	not measured
1 year	+0.8%	+12.7%	−14.0 pts vs VOO	not measured
3 years	–	+33.3%	–	not measured
Since launchNot the same days: HOLD Aug 2025 · WTMF Jan 2011	+10.3%	+21.0%	−10.3 pts vs VOO	not measured

– means no data for this window. Open this comparison in the app →

Side by side

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 WTMF WisdomTree Managed Futures Strategy Fund · 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 WisdomTree

Strategy Managed futures Managed futures

Correlation with the S&P 500 +0.66 +0.62

Beta to the S&P 500 +0.81 +0.38

Down-week capture 120.5% 34.4%

Average week when the S&P 500 fell −1.29% −0.37%

The S&P 500 in those weeks −1.07% −1.07%

Total return, same 52 weeks +0.3% +11.8%

Against T-bills, percentage points −3.3 pts +8.1 pts

Expense ratio 0.70% 0.66%

First traded Aug 14, 2025 Jan 5, 2011

Net assets, HOLD as of Nov 4, 2026 and WTMF as of Aug 31, 2026 $3.9m $261m

As of Nov 4, 2026. Source: ETFIQ.

One strategy, two funds

HOLD and WTMF both run a managed futures strategy. Over the same 52 weeks to Nov 4, 2026, HOLD’s weekly returns had a correlation of +0.66 with the S&P 500 and WTMF’s +0.62. In the 26 weeks the index fell, by 1.07% a week on average, HOLD averaged −1.29% and WTMF −0.37%. Over the same weeks, HOLD finished 3.3 percentage points behind cash and WTMF finished 8.1 points ahead of cash.

Alert

About each fund

HOLD

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 Nov 4, 2026, its weekly returns had a correlation of +0.66 with the S&P 500’s and a beta of +0.81, so for each 1% the index moved it moved about 0.81% the same way. The S&P 500 fell in 26 of those 52 weeks, by 1.07% on average. In the same weeks HOLD fell 1.29% on average, a down-week capture of 120.5%. Over the same 52 weeks HOLD returned +0.3% and a Treasury bill fund +3.7%, so it finished 3.3 percentage points behind cash.

WTMF

WTMF is a managed futures fund. Over the year to Nov 4, 2026, its weekly returns had a correlation of +0.62 with the S&P 500’s and a beta of +0.38, so for each 1% the index moved it moved about 0.38% the same way. In the same weeks WTMF fell 0.37% on average, a down-week capture of 34.4%. Over the same 52 weeks WTMF returned +11.8% and a Treasury bill fund +3.7%, so it finished 8.1 percentage points ahead of cash.

Questions people ask

Which moved less with the S&P 500, HOLD or WTMF?: Over the 52 weeks to Nov 4, 2026, HOLD’s weekly returns had a correlation of +0.66 with the S&P 500 and WTMF’s +0.62, so WTMF moved less with the index.
Which did better when the S&P 500 fell, HOLD or WTMF?: In the 26 weeks the S&P 500 fell, by 1.07% a week on average, HOLD averaged −1.29% and WTMF −0.37%, so WTMF returned more in those weeks.
Which earned more than cash, HOLD or WTMF?: Over the same weeks, HOLD finished 3.3 percentage points behind cash and WTMF finished 8.1 percentage points ahead of cash. Cash here is BIL, a fund of Treasury bills.
Which is cheaper, HOLD or WTMF?: HOLD charges 0.70% a year and WTMF charges 0.66%, so WTMF is cheaper. Fees come from each fund's prospectus.

Other comparisons

HOLD vs TFPN HOLD vs CTA HOLD vs DBMF HOLD vs PRAE WTMF vs CTA WTMF vs ASMF WTMF vs ISMF WTMF vs MFUT

Where to next

BIL, the T-bill fund these are measured against →SPY, the S&P 500 fund these are measured against →HOLD on its own →WTMF on its own →HOLD dividend history →WTMF dividend history →Method →Standards and sources →

Sources and dates

HOLD filings on SEC EDGAR ↗

HOLD prospectus with the expense ratio (SEC) ↗

Harbor page for HOLD ↗

WTMF filings on SEC EDGAR ↗

WTMF prospectus with the expense ratio (SEC) ↗

WisdomTree website ↗

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, HOLD against WTMF, data as of Nov 4, 2026. https://etfiq.com/compare/alternatives/hold-vs-wtmf

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