ETF Evaluator:
Fidelity 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
Fidelity Managed Futures ETF Overview
Fidelity Managed Futures ETF (FFUT) is an actively managed Alternative Systematic Trend exchange-traded fund (ETF). Fidelity Investments launched the ETF in 2025.
The investment seeks capital appreciation.
The und advisor seeks to achieve the fund's investment objective by pursuing a strategy intended to capture the persistence of price trends observed across equity, fixed income, currency and commodity markets. The fund's investment strategy utilizes a combination of equity, fixed income, currency and commodity derivatives, as well as certain direct investments, to provide exposure to these markets and price trends. The fund is non-diversified.
About Fidelity Managed Futures ETF (FFUT)
There are 1 members of the management team with an average tenure of 1.16 years: Roberto Croce (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and Bloomberg US Trsy Bellwethers 3M TR USD index with a weighting of 100%. Fidelity Managed Futures ETF has 117 securities in its portfolio. The top 10 holdings constitute 99.0% 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.
Fidelity Managed Futures ETF is part of the Alternative Strategies global asset class and is within the Alternative ETF group. Fidelity Managed Futures ETF has 0.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 6.9% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 1.7% (1.6% domestic bond, 0.2% foreign bond and 0.0% convertible bond). Fidelity Managed Futures ETF has 28.4% of the portfolio in cash.
Assets Under Management
The fund has $328 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.
FFUT 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 Fidelity Managed Futures ETF expense ratio is high compared to funds in the Systematic Trend category. Fidelity 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. Fidelity Managed Futures ETF has a portfolio turnover rate of 1%, which indicates that it holds its assets around / 1.0 years. By way of comparison, the average portfolio turnover is 57% for the Systematic Trend category.
Recently, in the month of July 2026, Fidelity Managed Futures ETF returned 4.4%, which earned it a grade of A, 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.
Fidelity Managed Futures ETF has a trailing yield of 0.71%, 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.
Fidelity Managed Futures ETF Grades
Year to date, the ETF has returned 13.2%, 3.7 percentage points better than the category, which translates into a grade of A. The fund has returned 22.1% over the past year (grade of B).
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FFUT 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 |
|
| FFUT Return (NAV) | 4.4% | 1.7% | 22.1% | na | na | na |
| FFUT Return (Price) | 5.5% | 2.2% | 23.4% | na | na | na |
| NAV +/- Price Return | -1.077% | -0.582% | -1.254% | na | na | na |
| Systematic Trend Avg | 1.4% | -1.4% | 20.5% | 6.5% | 6.1% | 3.0% |
| FFUT Grade (NAV) | A | A | B | na | na | na |
| +/- Category (NAV) | 3.0% | 3.0% | 1.6% | na | na | na |
| FFUT Tax-Cost Ratio | na | na | 0.8% | na | na | na |
FFUT Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FFUT Return (NAV) | 13.2% | na | na | na | na | na | na | na | na | na | na |
| FFUT Return (Price) | 13.6% | na | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 0.031% | na | 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% |
| FFUT Grade (NAV) | A | na | na | na | na | na | na | na | na | na | na |
| +/- Category | 3.7% | 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: | 0.7% |
| Total Assets: | $ 329 Mil |
| Share Class Assets: | $ 329 Mil |
| Turnover: | 1.0% |
| Expense Ratio: | 0.80% |
| Index Fund: | No |
| Index Tracked: | Bloomberg US Agg Bond TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Annually |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 1.2 years | |||
| Average Tenure: 1.2 years | |||
| Managers (Year): Croce Roberto (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 117 |
| % in Top 10 Holdings: | 99.0% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.2% |
Portfolio Allocation |
|
| Domestic Stock: | 6.9% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 1.6% |
| Foreign Bond: | 0.2% |
| Convertible Bond: | 0.0% |
| Other: | 62.9% |
| Cash: | 28.4% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Fidelity Investments |
| Phone Number: | 202-371-8300 |
| Website: | |
| Inception Date: | June 3, 2025 |
Expenses and Fees
| Expense Ratio (%): | 0.80% (Rating: High) |
| Category Average Expense Ratio (%): | 0.83% |
