ETF Evaluator:
Virtus AlphaSimplex Managed Futures ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Systematic Trend Over the Last Year
| 35.2% | American Beacon AHL Trend ETF (AHLT) |
| 31.5% | Cambria Chesapeake Pure Trend ETF (MFUT) |
| 28.1% | Blueprint Chesapeake Multi-Asst Trnd ETF (TFPN) |
| 27.5% | iMGP DBi Managed Futures Strategy ETF (DBMF) |
| 22.1% | Fidelity Managed Futures ETF (FFUT) |
Risk
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Risk
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ETF Details
Virtus AlphaSimplex Managed Futures ETF Overview
Virtus AlphaSimplex Managed Futures ETF (ASMF) is an actively managed Alternative Systematic Trend exchange-traded fund (ETF). Virtus launched the ETF in 2024.
The investment seeks to generate positive absolute returns over time.
Under normal market conditions, AlphaSimplex typically will make extensive use of a variety of derivative instruments, including futures and forward contracts, to capture the exposures suggested by its strategy. These market exposures, which are expected to change over time, primarily include exposures to the returns of U.S. and non-U.S. equity and fixed-income securities and securities indices, currencies, and commodities.
About Virtus AlphaSimplex Managed Futures ETF (ASMF)
There are 3 members of the management team with an average tenure of 1.76 years: Alexander Healy (2024), Kathryn Kaminski (2024) and Tansu Demirbilek (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
Virtus AlphaSimplex Managed Futures ETF has 35 securities in its portfolio. The top 10 holdings constitute 469.8% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Virtus AlphaSimplex Managed Futures ETF is part of the Alternative Strategies global asset class and is within the Alternative ETF group. Virtus AlphaSimplex Managed Futures ETF has -68.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is -7.5% There is 64.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is -307.5% (-175.0% domestic bond, -132.5% foreign bond and 0.0% convertible bond). Virtus AlphaSimplex Managed Futures ETF has 311.3% of the portfolio in cash.
Assets Under Management
The fund has $29 million in total assets, which is below the $487 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.
ASMF 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 Virtus AlphaSimplex Managed Futures ETF expense ratio is high compared to funds in the Systematic Trend category. Virtus AlphaSimplex Managed Futures ETF has an expense ratio of 0.80%, which is 3% lower than its category average, making the fund expense ratio grade a B. 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. Virtus AlphaSimplex Managed Futures 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 57% for the Systematic Trend category.
Recently, in the month of July 2026, Virtus AlphaSimplex Managed Futures ETF returned 0.5%, which earned it a grade of D, as the Systematic Trend category had an average return of 1.4%. 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.
Virtus AlphaSimplex Managed Futures ETF has a trailing yield of 0.20%, which is below the 2.42% 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.
Virtus AlphaSimplex Managed Futures ETF Grades
Year to date, the ETF has returned 7.8%, 1.7 percentage points worse than the category, which translates into a grade of C. The fund has returned 16.3% over the past year (grade of D).
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ASMF Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| ASMF Return (NAV) | 0.5% | 0.1% | 16.3% | na | na | na |
| ASMF Return (Price) | 0.4% | -0.0% | 16.3% | na | na | na |
| NAV +/- Price Return | 0.138% | 0.141% | 0.023% | na | na | na |
| Systematic Trend Avg | 1.4% | -1.4% | 20.5% | 6.5% | 6.1% | 3.0% |
| ASMF Grade (NAV) | D | C | D | na | na | na |
| +/- Category (NAV) | -0.9% | 1.5% | -4.2% | na | na | na |
| ASMF Tax-Cost Ratio | na | na | 0.1% | na | na | na |
ASMF Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| ASMF Return (NAV) | 7.8% | 1.2% | na | na | na | na | na | na | na | na | na |
| ASMF Return (Price) | 7.7% | 1.2% | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | -0.003% | -0.016% | na | na | na | na | na | na | na | na | na |
| Systematic Trend Avg | 9.5% | 5.1% | 7.3% | -0.4% | 13.3% | 7.6% | 2.4% | -3.6% | -1.4% | -0.7% | -2.6% |
| ASMF Grade (NAV) | C | D | na | na | na | na | na | na | na | na | na |
| +/- Category | -1.7% | -4.0% | 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: | 0.2% |
| Total Assets: | $ 30 Mil |
| Share Class Assets: | $ 30 Mil |
| Turnover: | 0.0% |
| Expense Ratio: | 0.80% |
| 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: 2.2 years | |||
| Average Tenure: 1.8 years | |||
| Managers (Year): Healy Alexander (2024), Kaminski Kathryn (2024), Demirbilek Tansu (2025) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 35 |
| % in Top 10 Holdings: | 469.8% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | -68.5% |
Portfolio Allocation |
|
| Domestic Stock: | -7.5% |
| Foreign Stock: | 64.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | -175.0% |
| Foreign Bond: | -132.5% |
| Convertible Bond: | 0.0% |
| Other: | 39.7% |
| Cash: | 311.3% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Virtus |
| Phone Number: | 888-383-0553 |
| Website: | http://www.newfleet.com/ |
| Inception Date: | May 15, 2024 |
Expenses and Fees
| Expense Ratio (%): | 0.80% (Rating: High) |
| Category Average Expense Ratio (%): | 0.83% |
