ETF Evaluator:
Invesco Managed Futures Strategy ETF (IMF)
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(as of Jul 31)
Best Performing in Systematic Trend Over the Last Year
| 36.9% | Blueprint Chesapeake Multi-Asst Trnd ETF (TFPN) |
| 32.0% | American Beacon AHL Trend ETF (AHLT) |
| 25.9% | Cambria Chesapeake Pure Trend ETF (MFUT) |
| 25.5% | iMGP DBi Managed Futures Strategy ETF (DBMF) |
| 20.9% | iShares Managed Futures Active ETF (ISMF) |
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ETF Details
Invesco Managed Futures Strategy ETF Overview
Invesco Managed Futures Strategy ETF (IMF) is an actively managed Alternative Systematic Trend exchange-traded fund (ETF). Invesco launched the ETF in 2025.
The investment seeks long term capital appreciation.
The fund is an actively managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective by taking both long and short positions in derivative contracts linked to over fifty global markets, including stock indices, bond indices, commodity indices and currencies. The fund is non-diversified.
About Invesco Managed Futures Strategy ETF (IMF)
There are 3 members of the management team with an average tenure of 1.29 years: Chris Devine (2025), John Burrello (2025) and Scott Hixon (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
Invesco Managed Futures Strategy ETF has 45 securities in its portfolio. The top 10 holdings constitute 424.1% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Invesco Managed Futures Strategy ETF is part of the Alternative Strategies global asset class and is within the Alternative ETF group. Invesco Managed Futures Strategy ETF has 16.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 37.4% There is 106.1% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is -183.2% (-93.3% domestic bond, -89.9% foreign bond and 0.0% convertible bond). Invesco Managed Futures Strategy ETF has 84.0% of the portfolio in cash.
Assets Under Management
The fund has $301 million in total assets, which is below the $453 million average for the Systematic Trend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
IMF Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Invesco Managed Futures Strategy ETF expense ratio is above average compared to funds in the Systematic Trend category. Invesco Managed Futures Strategy ETF has an expense ratio of 0.65%, which is 27% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Invesco Managed Futures Strategy ETF has a portfolio turnover rate of 0%, which indicates that it holds its assets around /years. By way of comparison, the average portfolio turnover is 62% for the Systematic Trend category.
Recently, in the month of June 2026, Invesco Managed Futures Strategy ETF returned -1.9%, which earned it a grade of C, as the Systematic Trend category had an average return of -2.6%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Invesco Managed Futures Strategy ETF has a trailing yield of 0.91%, which is below the 2.40% category average.
The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Invesco Managed Futures Strategy ETF Grades
Year to date, the ETF has returned 10.9%, 2.8 percentage points better than the category, which translates into a grade of A. The fund has returned 18.3% over the past year (grade of C).
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IMF Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| IMF Return (NAV) | -1.9% | 0.5% | 18.3% | na | na | na |
| IMF Return (Price) | -2.4% | -0.1% | 17.5% | na | na | na |
| NAV +/- Price Return | 0.527% | 0.590% | 0.876% | na | na | na |
| Systematic Trend Avg | -2.6% | 1.0% | 19.7% | 5.8% | 5.6% | 2.9% |
| IMF Grade (NAV) | C | D | C | na | na | na |
| +/- Category (NAV) | 0.7% | -0.5% | -1.3% | na | na | na |
| IMF Tax-Cost Ratio | na | na | 0.4% | na | na | na |
IMF Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| IMF Return (NAV) | 10.9% | na | na | na | na | na | na | na | na | na | na |
| IMF Return (Price) | 10.8% | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.008% | na | na | na | na | na | na | na | na | na | na |
| Systematic Trend Avg | 8.1% | 5.1% | 7.3% | -0.4% | 13.3% | 7.6% | 2.4% | -3.6% | -1.4% | -0.7% | -2.6% |
| IMF Grade (NAV) | A | na | na | na | na | na | na | na | na | na | na |
| +/- Category | 2.8% | na | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 0.9% |
| Total Assets: | $ 301 Mil |
| Share Class Assets: | $ 301 Mil |
| Turnover: | na |
| Expense Ratio: | 0.65% |
| Index Fund: | No |
| Index Tracked: | N/A |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 1.3 years | |||
| Average Tenure: 1.3 years | |||
| Managers (Year): Devine Chris (2025), Burrello John (2025), Hixon Scott (2025) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 45 |
| % in Top 10 Holdings: | 424.1% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 16.2% |
Portfolio Allocation |
|
| Domestic Stock: | 37.4% |
| Foreign Stock: | 106.1% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | -93.3% |
| Foreign Bond: | -89.9% |
| Convertible Bond: | 0.0% |
| Other: | 55.7% |
| Cash: | 84.0% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Invesco |
| Phone Number: | 800-983-0903 |
| Website: | www.invescopowershares.com |
| Inception Date: | March 17, 2025 |
Expenses and Fees
| Expense Ratio (%): | 0.65% (Rating: Above Avg) |
| Category Average Expense Ratio (%): | 0.90% |
