Data as of Nov 4, 2026.
MFUT vs PRAE: Correlation to the S&P 500
Over the year to Nov 4, 2026, MFUT moved less with the S&P 500 than PRAE: correlation +0.54 against +0.79.
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Net assets on Jun 30, 2026: $39m for Cambria Chesapeake Pure Trend ETF and $12m for PlanRock Equity Plus Alternatives ETF.
MFUT in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, MFUT −0.96%.
PRAE in the 26 weeks SPY fell, year to Nov 4, 2026: SPY averaged −1.07%, PRAE −1.29%.
Pair scorecard
MFUT costs 0.60 points a year less; their one-year returns differ by 9.5 points; MFUT is 3.3 times larger.
| Measure | MFUT | PRAE |
|---|---|---|
| Return | ||
| Total return, 1 year | +22.8% | +13.3% |
| Against its benchmark | ||
| Treasury bills, 52 weeks | +3.7% | |
| Cost and size | ||
| Expense ratio | 0.89% | 1.49% |
| Net assets, as of Jun 30, 2026 | $39m | $12m |
| Holdings | ||
| Holdings in common | not published | |
| Risk | ||
| Beta to the S&P 500 | +0.74: about 0.74% for each 1% | +0.95: about 0.95% for each 1% |
| Its average week when the S&P 500 fell | fell 0.96% | fell 1.29% |
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 →
Risk and return
Jun 7, 2024 to Oct 30, 2026 · 125 weekly returnsFrom Jun 2024 to Oct 2026, PRAE returned more: +29.8% to −0.6%. MFUT swung less: 11.7% to 13.7%. PRAE fell less at its worst: −17.3% to −27.6%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | MFUT | PRAE | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | −0.6% | +29.8% | PRAE | Price change plus distributions, reinvested. |
| Annualized | −0.3% | +11.5% | PRAE | Total return as a yearly rate. |
| Price return | −1.0% | +27.6% | PRAE | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 11.7% | 13.7% | MFUT | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 8.9% | 9.6% | MFUT (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −27.6% | −17.3% | PRAE | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | −0.33 | 0.56 | PRAE | Return above Treasury bills per unit of volatility. |
| Sortino | −0.42 | 0.79 | PRAE | Return above Treasury bills per unit of downside deviation. |
| Calmar | −0.01 | 0.66 | PRAE | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 125 weekly returns. Cash rate: the 13-week Treasury bill.
Window by window
| Total return | ||
|---|---|---|
| Window | MFUT | PRAE |
| 3 months | −2.0% | +0.2% |
| 6 months | −1.4% | +0.9% |
| 1 year | +22.8% | +13.3% |
| Since launchNot the same days: MFUT May 2024 · PRAE Dec 2023 | −5.4% | +37.5% |
Side by side
As of Nov 4, 2026. Source: ETFIQ.
One strategy, two funds
MFUT and PRAE both run a managed futures strategy. Over the same 52 weeks to Nov 4, 2026, MFUT’s weekly returns had a correlation of +0.54 with the S&P 500 and PRAE’s +0.79. In the 26 weeks the index fell, by 1.07% a week on average, MFUT averaged −0.96% and PRAE −1.29%. Over the same weeks, MFUT finished 19.1 percentage points ahead of cash and PRAE finished 9.5 points ahead of cash.
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MFUT
MFUT 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 +0.54 with the S&P 500’s and a beta of +0.74, so for each 1% the index moved it moved about 0.74% the same way. The S&P 500 fell in 26 of those 52 weeks, by 1.07% on average. In the same weeks MFUT fell 0.96% on average, a down-week capture of 89.9%. Over the same 52 weeks MFUT returned +22.8% and a Treasury bill fund +3.7%, so it finished 19.1 percentage points ahead of cash.
PRAE
PRAE is a managed futures fund. Over the year to Nov 4, 2026, its weekly returns had a correlation of +0.79 with the S&P 500’s and a beta of +0.95, so for each 1% the index moved it moved about 0.95% the same way. In the same weeks PRAE fell 1.29% on average, a down-week capture of 120.0%. Over the same 52 weeks PRAE returned +13.1% and a Treasury bill fund +3.7%, so it finished 9.5 percentage points ahead of cash.
Questions people ask
- Which moved less with the S&P 500, MFUT or PRAE?
- Over the 52 weeks to Nov 4, 2026, MFUT’s weekly returns had a correlation of +0.54 with the S&P 500 and PRAE’s +0.79, so MFUT moved less with the index.
- Which did better when the S&P 500 fell, MFUT or PRAE?
- In the 26 weeks the S&P 500 fell, by 1.07% a week on average, MFUT averaged −0.96% and PRAE −1.29%, so MFUT 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, MFUT against PRAE, data as of Nov 4, 2026. https://etfiq.com/compare/alternatives/mfut-vs-prae
ETFIQ. (Nov 4, 2026). MFUT against PRAE. Retrieved from https://etfiq.com/compare/alternatives/mfut-vs-prae
[MFUT against PRAE (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/alternatives/mfut-vs-prae)
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