FFUT vs SPY
Fidelity Managed Futures ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, FFUT or SPY?
Managed Futures against Large Cap Blend.
SPY has a lower expense ratio. FFUT led over 1Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | FFUT | SPY |
|---|---|---|
| Expense Ratio | 0.80% | 0.09%Best |
| AUM | $329M | $804.7B |
| Dividend Yield | 1.81% | 0.98% |
| Holdings | 117 | 505 |
| YTD Return | +20.19%Best | +12.22% |
| 1Y Return | +26.40%Best | +16.97% |
| 3Y Return (annualized) | - | +21.16% |
| 5Y Return (annualized) | - | +13.00% |
| Volatility (annualized) | 7.2%Best | 11.9% |
| Max Drawdown | -5.6%Best | -8.9% |
| $10,000 over 1.3 years | $13,130Best | $13,083 |
| Fund Family | Fidelity Investments (US) | State Street Investment Management |
| Category | Alternative | Equity |
| Style | Managed Futures | Large Cap Blend |
| Inception | Jun 3, 2025 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.3 years row, are measured over the window both funds cover: Jun 5, 2025 to Sep 17, 2026 (1.3 years).
FFUT vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.3 years both funds cover.
FFUT vs SPY Performance
Fidelity Managed Futures ETF (FFUT) is an ETF from Fidelity Investments (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year FFUT returned +26.40% while SPY returned +16.97%. Year to date, FFUT is up 20.19% versus a gain of 12.22% for SPY.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 11.9% compared with 7.2% for FFUT. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -5.6% for FFUT and -8.9% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.07. They move largely independently of each other.
Fees and Cost Over Time
FFUT charges 0.80% per year while SPY charges 0.09%. On a $10,000 position that is $80 vs $9 annually, a gap of $71 per year that compounds over a long holding period. On income, FFUT currently yields 1.81% against 0.98% for SPY.
Holdings Overlap
At least 13.7% of SPY's money is in holdings FFUT also owns.
Stated as a floor: for FFUT, our book for it covers 43.7% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
SPY and FFUT share little of their money.
2 positions in common, counted across the 4 positions we hold weights for in FFUT and 504 in SPY, against full books of 117 and 505.
You are not choosing between two funds in isolation.
Whichever of FFUT and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, FFUT or SPY?
FFUT has an expense ratio of 0.80% while SPY charges 0.09%. SPY is the cheaper option, by $71 a year on a $10,000 investment.
Which performed better, FFUT or SPY?
Over the past year FFUT returned +26.40% vs +16.97% for SPY, so FFUT leads on 1-year performance. Over the longest common window we track (1 years), FFUT annualized +23.30% vs +22.96% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FFUT or SPY?
SPY has been the more volatile fund at 11.9% annualized versus 7.2% for FFUT. Worst drawdown: FFUT -5.6% vs SPY -8.9%.
Should I hold both FFUT and SPY?
FFUT and SPY have a monthly-return correlation of 0.07, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between FFUT and SPY?
At least 13.7% of SPY's money is in holdings FFUT also owns. Our book for FFUT is partial, so the real figure is this or higher. They hold 2 positions in common, counted across the 4 positions we hold weights for in FFUT and 504 in SPY.
Which pays a higher dividend, FFUT or SPY?
FFUT yields 1.81% while SPY yields 0.98%, so FFUT currently pays the higher dividend yield.
Is SPY better than FFUT?
SPY has a lower expense ratio. FFUT led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.