Data as of .
IMF vs MFUT: which moved less with stocks?
Over the year to Sep 18, 2026, IMF moved less with the S&P 500 than MFUT: correlation +0.22 against +0.29.
ETFIQ Diversifier Score: IMF 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
IMF and MFUT both run a managed futures strategy. Over the same 52 weeks to Sep 18, 2026, IMF’s weekly returns had a correlation of +0.22 with the S&P 500 and MFUT’s +0.29. In the 22 weeks the index fell, by 1.24% a week on average, IMF averaged +0.28% and MFUT +0.20%. Over the same weeks, IMF finished 19.4 percentage points ahead of cash and MFUT finished 27.5 points ahead of cash.
Performance, window by window
| Window | Total return | vs the S&P 500 | ||
|---|---|---|---|---|
| IMF | MFUT | IMF | MFUT | |
| 3 months | +4.1% | +5.4% | +1.9 pts | +3.2 pts |
| 6 months | +7.7% | +16.4% | −10.4 pts | −1.6 pts |
| 1 year | +23.1% | +31.0% | +6.5 pts | +14.4 pts |
| Since launch | +7.4% | +0.3% | −29.6 pts | −48.7 pts |
| IMF Invesco Managed Futures Strategy ETF Managed futures fund: follows price trends in futures on stocks, bonds, currencies and commodities, and can bet on falls as well as rises | MFUT Cambria Chesapeake Pure 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 | Invesco | Cambria |
| Strategy | Managed futures | Managed futures |
| Correlation with the S&P 500 | +0.22 | +0.29 |
| Beta to the S&P 500 | +0.12 | +0.28 |
| Down-week capture | −22.7% | −15.9% |
| Average week when the S&P 500 fell | +0.28% | +0.20% |
| The S&P 500 in those weeks | −1.24% | −1.24% |
| Total return, same 52 weeks | +23.1% | +31.1% |
| Against T-bills, percentage points | +19.4 pts | +27.5 pts |
| Expense ratio | 0.65% | 1.18% |
| Listed | Mar 19, 2025 | May 29, 2024 |
| Net assets | $319m | $39m |
IMF in plain words
IMF 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 +0.22 with the S&P 500’s and a beta of +0.12, so for each 1% the index moved it moved about 0.12% the same way. The S&P 500 fell in 22 of those 52 weeks, by 1.24% on average. In the same weeks IMF rose 0.28% on average, a down-week capture of −22.7%. Over the same 52 weeks IMF returned +23.1% and a Treasury bill fund +3.6%, so it finished 19.4 percentage points ahead of cash.
MFUT in plain words
MFUT is a managed futures fund. Over the year to Sep 18, 2026, its weekly returns had a correlation of +0.29 with the S&P 500’s and a beta of +0.28, so for each 1% the index moved it moved about 0.28% the same way. In the same weeks MFUT rose 0.20% on average, a down-week capture of −15.9%. Over the same 52 weeks MFUT returned +31.1% and a Treasury bill fund +3.6%, so it finished 27.5 percentage points ahead of cash.
Questions people ask
- Which moved less with the S&P 500, IMF or MFUT?
- Over the 52 weeks to Sep 18, 2026, IMF’s weekly returns had a correlation of +0.22 with the S&P 500 and MFUT’s +0.29, so IMF moved less with the index.
- Which did better when the S&P 500 fell, IMF or MFUT?
- In the 22 weeks the S&P 500 fell, by 1.24% a week on average, IMF averaged +0.28% and MFUT +0.20%, so IMF returned more in those weeks.
- Which earned more than cash, IMF or MFUT?
- Over the same weeks, IMF finished 19.4 percentage points ahead of cash and MFUT finished 27.5 percentage points ahead of cash. Cash here is BIL, a fund of Treasury bills.
- Which is cheaper, IMF or MFUT?
- IMF charges 0.65% a year and MFUT charges 1.18%, so IMF 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, IMF against MFUT, data as of Sep 18, 2026. https://etfiq.com/compare/alternatives/imf-vs-mfut Free to use with attribution; the underlying files are at Open data.