At a glance
WTMF charges 0.66% a year, below the 0.68% average of the 2 funds most like it (the 2nd cheapest of 3). It has $260.7M in assets, the 3rd largest of that group; it paid 10.0% of its price in distributions over the past 12 months, semiannual. Over the past year it returned +12.8% with distributions reinvested, 2nd of those 3 funds; over three years it returned +11.0% a year. At its worst it fell 9.6% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 14 months after the low.
The short version
WisdomTree Managed Futures Strategy Fund (WTMF) is an actively managed ETF. It uses a rules-based, trend-following model to bet on rising or falling prices in futures on commodities, currencies, stock indexes and U.S. Treasuries, and it can put up to 10% in bitcoin. It aims for returns that don't move in step with stocks or bonds. Its 0.66% expense ratio is lower than the 0.85% charged by the much larger iMGP DBi Managed Futures Strategy ETF (DBMF).
Price history
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WTMF +12.8% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| WTMF official prospectus, to Dec 31, 2024 | — | +3.31% | — | +4.33% | +1.04% | — |
| 60% S&P 500® Index/40% Bloomberg U.S. Aggregate Index Composite (Reflects no deduction for fees, expenses or taxes) index, same period | — | +15.31% | — | +8.45% | +8.35% | — |
| Index34 index, same period | — | +9.25% | — | +7.12% | +1.24% | — |
| ICE Bof A US 3-Month Treasury Bill Index (Reflects no deduction for fees, expenses or taxes) index, same period | — | +5.25% | — | +2.46% | +1.77% | — |
| WTMF price data to Oct 27, 2026 | +11.8% | +12.8% | +11.0% | +6.8% | — | +8.1% |
- Over the year to Oct 27, 2026, WTMF returned +12.8%, 2nd of 3 among similar funds.
- Its 5-year annualized return was +6.8%.
- Its worst full calendar year was 2022 (-6.5%); its best was 2023 (+16.7%).
- The deepest fall in its price history was 13.4% (Mar 8, 2022 to Dec 22, 2022), recovered by Nov 27, 2023.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +11.8% | — |
| 2025 | +12.2% | — |
| 2024 | +3.2% | +3.31% |
| 2023 | +16.7% | +16.16% |
| 2022 | -6.5% | -5.81% |
| 2021 | +9.4% | +8.98% |
| 2020 | — | +0.37% |
| 2019 | — | -2.72% |
| 2018 | — | +0.32% |
| 2017 | — | -3.21% |
| 2016 | — | -1.00% |
| 2015 | — | -4.08% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Not in the price data, which starts Jun 2, 2020 |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 1.9% over that stretch · deepest drop along the way 9.6%, back to its old high 13.9 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $2.8100 | |
| 2025 | $1.1600 | -7.2% |
| 2024 | $1.2500 | -24.7% |
| 2023 | $1.6600 | 0.0% |
| 2022 | $1.6600 | -68.1% |
| 2021 | $5.2100 |
What's inside
As of Aug 31, 2026, the fund held 3 securities; the ten largest made up 86.76% of assets, and 9.23% sat in cash and money-market holdings.
| Holding | Weight | |
|---|---|---|
| UNITED STATES OF AMERICA - BUREAU OF THE PUBLIC DEBT Bonds and notes | 80.54% | |
| WisdomTree Floating Rate Treasury Fund | 4.43% | |
| WISDOMTREE BITCOIN FUND SHS BEN INT | 1.79% |
By country
United States 86.76%By issuer
US Treasury 80.54%Other registered funds 6.22%The bonds mature in 0.4 years on average (weighted by size), with an average coupon of 0%.
Source: N-PORT holdings report as of Aug 31, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Aug 31, 2026, investors added a net $20.6M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -1.38%, +0.54%, +2.81%.
How it works
WTMF does not track an index. WisdomTree runs a quantitative model built to follow price trends. A futures contract is an agreement to buy or sell something later at a set price. The fund can go long (profit if prices rise) or short (profit if prices fall). For 21 U.S.-listed commodity contracts, from WTI and Brent crude to gold, copper, cattle, wheat and sugar, a momentum signal for each sector picks the direction. The same model decides whether to hold up to 10% in bitcoin, long only, through bitcoin ETPs such as WisdomTree Bitcoin Fund (BTCW) or CME bitcoin futures. A risk indicator, a correlation signal and a short-term momentum signal size the stock-index futures. Leftover risk budget goes to Treasury futures. The fund also trades currency futures and rebalances monthly.
Futures need only a small deposit, so most of the money sits in short-term Treasuries. As of August 31, 2026, a Treasury bill maturing January 14, 2027 made up 80.5% of assets, WisdomTree Floating Rate Treasury Fund (USFR) 4.4%, BTCW 1.8% and cash about 9.2%. The 21 derivative positions included wheat, Nikkei 225 and S&P/TSX 60 futures.
Commodity exposure runs through a wholly owned Cayman Islands subsidiary, capped at 25% of assets at each quarter-end. This setup helps the fund meet U.S. tax rules for funds. Portfolio turnover was 96%.
What it really costs
- WTMF charges 0.66% a year, versus an average of 0.68% for the similar funds below (2nd of 3, cheapest first).
- Of that, 0.65% is the management fee; the rest covers other fund expenses.
- The fee includes a 0.01% waiver from the adviser, which may end.
- Using the prospectus's standard example, $10,000 invested would cost about $67 in the first year and $822 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| WTMF | $67 | $211 | $368 | $822 |
Structure and tax notes
- Bond prices move opposite to interest rates; the longer the maturities it holds, the more its price reacts to rate changes.
In a retirement portfolio
Its trend-following futures positions can rise or fall regardless of stock and bond markets, with a one-year beta to stocks of 0.41 as of October 27, 2026.
WTMF can add a return stream that isn't tied to stocks or bonds. In the 2022 bear market (January 3 to October 12, 2022), it lost only 1.9%. Its deepest drop was 13.4%, from March 8 to December 22, 2022, and it had recovered by November 27, 2023. Its worst calendar year in the prospectus was 2022, at -5.81%. The fund launched in 2011, after the 2008 crisis, and its price history starts in June 2020, after the COVID crash. Losing streaks can run for years: it lost money in four of the five years from 2015 to 2019. Its 10-year average annual return was 1.04% through December 31, 2024, below Treasury bills' 1.77%. The trailing yield was 10% as of October 27, 2026, paid twice a year, and payouts can vary a lot. Costs are $67 in the first year on $10,000. Past results don't predict future returns, so judge it within your whole portfolio.
Who it may suit — and who should look elsewhere
May suit
- Investors seeking a stock-and-bond diversifier that can short commodities, currencies, equity indexes and Treasuries when trends turn down.
- Cost-conscious managed-futures buyers: its 0.66% expense ratio is below DBMF's 0.85% and the 0.68% peer average.
- Holders comfortable with a small bitcoin sleeve, up to 10% of assets, held mainly through WisdomTree Bitcoin Fund (BTCW).
Look elsewhere if
- Those who can't sit through long dry spells: it lost money in four of five years from 2015 to 2019.
- Income seekers needing steady checks: it pays only twice a year, and its 10% trailing yield may not repeat.
- Investors wanting a large, heavily traded fund: at about $261 million in assets, it was the smallest of its comparison group.
Close alternatives
Matched by bond funds with the closest average maturity and issuer mix (N-PORT).
Net assets from each fund's latest N-PORT or annual report where available. Returns through Oct 27, 2026.Questions investors ask
Is WTMF a good hedge against a stock market crash?
It has held up better than stocks in one major test, but it's no guarantee. In the 2022 bear market, WTMF lost 1.9% while stocks and bonds both fell sharply. Its price history starts in June 2020, so it doesn't show the COVID crash, and the fund launched after 2008. A trend-following model needs time to spot a trend, so a sudden crash can catch it on the wrong side.
What's the difference between WTMF and DBMF?
Both are managed futures ETFs holding mostly short-term Treasuries alongside futures positions. WTMF costs 0.66% a year versus 0.85% for iMGP DBi Managed Futures Strategy ETF (DBMF). DBMF is far larger, with about $3.89 billion in assets as of June 30, 2026, against about $261 million for WTMF as of August 31, 2026. As of October 27, 2026, DBMF returned 21.2% over one year versus 12.8% for WTMF. Over three years, WTMF led, 11% to 10.1% a year.
Does WTMF pay dividends?
Yes, twice a year. Over the 12 months to October 27, 2026, it paid $3.97 per share, a trailing yield of 10%. That figure may not repeat. A managed futures fund's payouts depend largely on Treasury interest and trading gains, so they can swing widely from year to year. Investors looking for a steady monthly paycheck may find the payment schedule and size unpredictable.
Does WTMF own bitcoin?
Indirectly, and only in a small way. The fund can put up to 10% of net assets into bitcoin exchange-traded products and CME bitcoin futures, and only on the long side, when its momentum model signals an uptrend. It never holds bitcoin directly. As of August 31, 2026, its stake in WisdomTree Bitcoin Fund (BTCW), run by a WisdomTree affiliate, was 1.8% of assets. Bitcoin's large price swings add risk.
How has WTMF performed over the long term?
Its long-term record has been weak, though recent years have been stronger. Through December 31, 2024, it averaged 1.04% a year over 10 years, below Treasury bills' 1.77% and a 60/40 stock-bond mix's 8.35%. It averaged 4.33% over five years. Based on price, it returned an average of 11% a year over the three years to October 27, 2026, helped by a 16.16% gain in 2023.