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Data as of Nov 4, 2026.

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FFUT vs GLD: Differences, Returns & Fees

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Over the year to Nov 4, 2026, FFUT returned +17.2% to GLD's +2.8%, and GLD charges 0.40% to FFUT's 0.80%.

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Net assets: $394m on Sep 30, 2026 for Fidelity Managed Futures ETF, and $131.3bn on Nov 3, 2026 for SPDR Gold Shares.

FFUT on its own →GLD on its own →
At a glance
+17.2%
FFUT total return, 1 year
+2.8%
GLD total return, 1 year
0.80%
FFUT expense ratio
0.40%
GLD expense ratio

Pair scorecard

GLD costs 0.40 points a year less; their one-year returns differ by 14.4 points.

FFUT vs GLD: Differences, Returns & Fees
MeasureFFUTGLD
Return
Total return, 1 year+17.2%+2.8%
Total return, 52 weeks+17.0%
Drawdown
Below its high24.9%, high on Jan 29, 2026
Against its benchmark
What it tracksnot publishedGold
Treasury bills, 52 weeks+3.7%
Against cash13.4 points ahead
Cost and size
Expense ratio0.80%0.40%
Net assets, FFUT as of Sep 30, 2026 and GLD as of Nov 3, 2026$394m$131.3bn
Holdings
Holdings in commonnot published
Risk
Correlation with the S&P 500’s weekly returns+0.09
Beta to the S&P 500+0.08: about 0.08% for each 1%
Its average week when the S&P 500 fellfell 0.15%
Down-week capture13.6%
Weeks the S&P 500 fell26 of 52, by 1.07% on average

Method

Risk and return

Jun 13, 2025 to Oct 30, 2026 · 72 weekly returns
FFUT GLD
Return
Total return edge FFUT +27.4% +12.5%
Annualized edge FFUT +19.1% +8.9%
Price return edge FFUT +24.7% +12.5%
Risk
Volatility edge FFUT 9.3% 22.1%
Max drawdown edge FFUT −4.2% −26.5%
Risk-adjusted
Sharpe edge FFUT 1.52 0.32
Sortino edge FFUT 2.61 0.46
Calmar edge FFUT 4.54 0.34
Reading

From Jun 2025 to Oct 2026, FFUT returned more: +27.4% to +12.5%. FFUT swung less: 9.3% to 22.1%. FFUT fell less at its worst: −4.2% to −26.5%.

Full scorecard

9 measures, with how each is measured Open ↓
Risk and return: FFUT vs GLD: Differences, Returns & Fees
MeasureFFUTGLDEdgeHow it is measured
Return
Total return+27.4%+12.5%FFUTPrice change plus distributions, reinvested.
Annualized+19.1%+8.9%FFUTTotal return as a yearly rate.
Price return+24.7%+12.5%FFUTPrice change alone, distributions left out.
Risk
Volatility9.3%22.1%FFUTSpread of weekly returns, annualized. Lower is steadier.
Downside deviation5.4%15.2%FFUTLike volatility, counting only weeks below the Treasury bill rate.
Max drawdown−4.2%−26.5%FFUTDeepest fall from a high to the low after it.
Risk-adjusted
Sharpe1.520.32FFUTReturn above Treasury bills per unit of volatility.
Sortino2.610.46FFUTReturn above Treasury bills per unit of downside deviation.
Calmar4.540.34FFUTAnnualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 72 weekly returns. Cash rate: the 13-week Treasury bill.

Side by side

FFUT Fidelity Managed Futures ETF GLD SPDR Gold Shares
Where it sits Alternatives ETF Commodity ETF
Issuer Fidelity State Street
What it is Managed futures Holds gold
Total return, 1 year +17.2% +2.8%
Its benchmark over the same days not measured +2.9% (IAU)
Gap to its benchmark not measured −0.1 pts vs IAU
Expense ratio 0.80% 0.40%
Net assets, FFUT as of Sep 30, 2026 and GLD as of Nov 3, 2026 $394m $131.3bn

FFUT and GLD on the fields both publish, as of Nov 4, 2026. Source: ETFIQ.

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About each fund
FFUT

FFUT 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 +0.09 with the S&P 500’s and a beta of +0.08, so for each 1% the index moved it moved about 0.08% the same way. The S&P 500 fell in 26 of those 52 weeks, by 1.07% on average. In the same weeks FFUT fell 0.15% on average, a down-week capture of 13.6%. Over the same 52 weeks FFUT returned +17.0% and a Treasury bill fund +3.7%, so it finished 13.4 percentage points ahead of cash.

GLD

Its expense ratio is 0.40% a year, for the three months to Jun 30, 2026, as its 10-Q states.

GLD holds gold. Over the year to Nov 4, 2026 it returned +2.8% with distributions reinvested, against +2.9% for its benchmark, the price of gold. It sat 24.9% below its high of Jan 29, 2026 on Nov 4, 2026.

Questions people ask

Are FFUT and GLD in the same category?
FFUT is an alternatives ETF and GLD is a commodity ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
Which returned more over the last year, FFUT or GLD?
In the year to Nov 4, 2026, with distributions reinvested, FFUT returned +17.2% and GLD +2.8%.
Which is cheaper, FFUT or GLD?
GLD is cheaper, by 0.40 percentage points a year. That is about $40 on $10,000 held for a year. Fees come from each fund's own filings.
Other comparisons
FFUT vs VOOFFUT vs QQQFFUT vs SPYFFUT vs IVVFMF vs GLDGLD vs WTMFGLD vs TFPNGLD vs RSBT
Where to next
BIL, the T-bill fund these are measured against →SPY, the S&P 500 fund these are measured against →FFUT on its own →GLD on its own →Hold both: look the portfolio through →Rankings →FFUT dividend history →Standards and sources →
Sources and dates
FFUT filings on SEC EDGAR ↗
FFUT prospectus with the expense ratio (SEC) ↗
Fidelity website ↗
State Street website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

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ETFIQ, FFUT against GLD, data as of Nov 4, 2026. https://etfiq.com/compare/any/ffut-vs-gld

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