# ISMF (iShares Managed Futures Active ETF)

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

In the S&P 500’s down weeks over the year to Sep 18, 2026, ISMF rose 0.10% a week on average.

## Key facts

- ISMF, correlation with the S&P 500: +0.32, as of Sep 18, 2026.
- ISMF, beta to the S&P 500: +0.18, as of Sep 18, 2026.
- ISMF, down-week capture: −7.8%, as of Sep 18, 2026.
- ISMF, against T-bills, 52 weeks: +14.3 pts, as of Sep 18, 2026.
- ISMF, net assets: $66m (the issuer’s own daily fund list, as of Sep 18, 2026).
- ISMF, expense ratio: 0.80% (485BPOS XBRL, Feb 24, 2026).

## ISMF over each window to Sep 18, 2026

| Window | The fund | S&P 500 | Difference, percentage points |
| --- | --- | --- | --- |
| 3 months | +2.9% | +2.3% | +0.7 pts |
| 6 months | +7.8% | +18.0% | −10.2 pts |
| 1 year | +18.5% | +16.6% | +2.0 pts |
| Since it listed | +22.7% | +40.8% | −18.1 pts |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Issuer | iShares | ETFIQ |
| Strategy | Managed futures | ETFIQ, from its prospectus |
| Expense ratio | 0.80% | 485BPOS XBRL, Feb 24, 2026 |
| Net assets | $66m | the issuer’s own daily fund list, as of Sep 18, 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 |
| ISMF in those weeks, on average | +0.10% | ETFIQ |
| ISMF total return over those weeks | +17.9% | ETFIQ |
| T-bills | +3.6% | ETFIQ |
| Listed since | Mar 13, 2025 | ETFIQ |
| Days traded | 90 | ETFIQ |
| Quoted | on an exchange, every trading day | ETFIQ |

## Questions

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

Over the year to Sep 18, 2026, ISMF’s weekly returns had a correlation of +0.32 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 +0.18, so for each 1% the index moved it moved about 0.18% the same way.

### What did ISMF 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 ISMF rose 0.10% on average, a down-week capture of −7.8%.

### Did ISMF earn more than cash?

Over the same 52 weeks ISMF returned +17.9% with distributions reinvested, and BIL, a fund of Treasury bills, returned +3.6%. ISMF finished 14.3 percentage points ahead of it.

### What does ISMF cost?

The prospectus expense ratio is 0.80% a year.

### Why is ISMF listed as managed futures?

ETFIQ files each fund by what its own prospectus says it does, and ISMF’s, filed Feb 24, 2026, describes a managed futures fund.


## Cite this page

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

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