FMF – First Trust Managed Futures Strategy Fund

First Trust Managed Futures Strategy Fund (FMF) is a Systematic Trend ETF, issued by First Trust, $224M in assets, 0.95% expense ratio.

Returns as of Oct 23, 2026: 1 week +0.3%, 1 year +6.6%.

Actively managed, seeks positive returns uncorrelated to markets. Invests in exchange-listed futures via Cayman Islands subsidiary.

Top holdings

• MISXX – Morgan Stanley Institutional Liquidity Funds - Treasury Portfolio, 17.8%

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