# HFMF (Unlimited HFMF Managed Futures ETF)

Unlimited · Alternatives ETFs · data as of Sep 18, 2026

In the S&P 500’s down weeks over the year to Sep 18, 2026, HFMF fell 13% as much as the index.

## Key facts

- HFMF, correlation with the S&P 500: +0.20, as of Sep 18, 2026.
- HFMF, beta to the S&P 500: +0.24, as of Sep 18, 2026.
- HFMF, down-week capture: 12.7%, as of Sep 18, 2026.
- HFMF, against T-bills, 52 weeks: +5.0 pts, as of Sep 18, 2026.
- HFMF, net assets: $23m (SEC N-PORT, whole fund, as filed for May 31, 2026).
- HFMF, expense ratio: 0.97% (485BPOS XBRL, Dec 23, 2025).

## HFMF over each window to Sep 18, 2026

| Window | The fund | S&P 500 | Difference, percentage points |
| --- | --- | --- | --- |
| 3 months | +2.9% | +2.3% | +0.6 pts |
| 6 months | −2.9% | +18.0% | −20.9 pts |
| 1 year | +8.7% | +16.6% | −7.9 pts |
| Since it listed | +14.1% | +24.1% | −10.0 pts |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Issuer | Unlimited | ETFIQ |
| Strategy | Managed futures | ETFIQ, from its prospectus |
| Expense ratio | 0.97% | 485BPOS XBRL, Dec 23, 2025 |
| Net assets | $23m | SEC N-PORT, whole fund, as filed for May 31, 2026 |
| Weeks measured | 52, from Sep 19, 2025 to Sep 18, 2026 | ETFIQ |
| Weeks the S&P 500 fell | 22 | ETFIQ |
| The S&P 500 in those weeks, on average | −1.24% | ETFIQ |
| HFMF in those weeks, on average | −0.16% | ETFIQ |
| HFMF total return over those weeks | +8.7% | ETFIQ |
| T-bills | +3.6% | ETFIQ |
| Listed since | Jul 15, 2025 | ETFIQ |
| Days traded | 90 | ETFIQ |
| Quoted | on an exchange, every trading day | ETFIQ |

## Questions

### Does HFMF move with the S&P 500?

Over the year to Sep 18, 2026, HFMF’s weekly returns had a correlation of +0.20 with the S&P 500’s, on a scale where 1 moves in step, 0 shows no pattern and −1 moves opposite. Its beta was +0.24, so for each 1% the index moved it moved about 0.24% the same way.

### What did HFMF do when stocks fell?

The S&P 500 fell in 22 of the 52 weeks to Sep 18, 2026, by 1.24% on average. In those weeks HFMF fell 0.16% on average, a down-week capture of 12.7%.

### Did HFMF earn more than cash?

Over the same 52 weeks HFMF returned +8.7% with distributions reinvested, and BIL, a fund of Treasury bills, returned +3.6%. HFMF finished 5.0 percentage points ahead of it.

### What does HFMF cost?

The prospectus expense ratio is 0.97% a year.

### Why is HFMF listed as managed futures?

ETFIQ files each fund by what its own prospectus says it does, and HFMF’s, filed Dec 23, 2025, describes a managed futures fund.


## Cite this page

ETFIQ, HFMF, data as of Sep 18, 2026. https://etfiq.com/funds/hfmf
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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