FFND
Future Fund Active ETF
FFND seeks long-term capital growth from an actively managed fund of US-listed stocks that benefit from emerging secular trends driven by technological, social and environmental changes.
US
EQUITY
Active
MANAGEMENT STYLE
100 bp
EXPENSES
$7.7 M
ASSETS UNDER MGMT
Fund Basics
| Fund sponsor | Future Fund Advisors |
| Category | US |
| Asset class | Equity |
| Website | link... |
| Inception date | Aug 24, 2021 |
| Assets (mns) | $8 |
| Expense ratio | 100 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | Proprietary |
| Weighting | Proprietary |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
| ALPHABET INC. CLASS A | 8.9 % |
| NVIDIA CORP | 7.8 % |
| ELI LILLY & CO | 5.3 % |
| ASML HOLDING NV-NY REG SHS | 4.0 % |
| HALOZYME THERAPEUTICS INC | 3.9 % |
| SALESFORCE.COM INC | 3.7 % |
| CHIPOTLE MEXICAN GRILL-CL A | 3.6 % |
| UBER TECHNOLOGIES, INC. | 3.4 % |
| NETFLIX INC | 3.2 % |
| AIRBNB, INC. CLASS A | 3.1 % |
Constituent Breakdown
| Number of holdings | 36 |
| Herfindahl-Hirschman Index | 376 |
| Wgt avg mkt cap (mns) | $376,114 |
| Large cap (>$10bn) | 77.6% |
| Mid cap ($2-10bn) | 20.2% |
| Small cap (<$2bn) | 2.2% |
| Developed mkts. | 98.7% |
| Emerging mkts. | 1.3% |
Country Exposure
 |
UNITED STATES | 89.0 % |
 |
NETHERLANDS | 5.7 % |
 |
BRITAIN | 2.3 % |
 |
SWITZERLAND | 2.2 % |
 |
BRAZIL | 1.4 % |
Historical Performance
Standardized Performance (as of 06/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 11.2% | 19.3% | 19.9% | -- | -- | -- | -2.6% | Volatility | 16.4% | 17.8% | 25.5% | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.40 | 79% |
| MSCI EAFE | 1.18 | 54% |
| MSCI Emg Mkts | 0.91 | 32% |
Liquidity Measures
| Avg. volume (000) | 5 |
| Turnover | 1.5% |
| Avg. Bid/Ask (% of price) | 0.22% |
| ADV of underlying (mns) | $97,387 |
Technical Indicators
| Recent close | $22.76 |
| 30d moving avg. | $23.83 |
| Annualized volatility | 29.6% |
| Relative strength (RSI) | 60 |
| Short interest (ETF) | 0.1% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. FFND |
Expenses vs. FFND |
ALTAR Score™ vs. FFND |
|---|---|---|---|---|
| XNTK | SPDR NYSE Technology ETF | 31.6% | -65 bp | +4.3% |
| QGRW | WisdomTree U.S. Quality Growth Fund | 26.1% | -72 bp | +5.1% |
| SNPG | Xtrackers S&P 500 Growth ESG ETF | 25.8% | -85 bp | +5.0% |
| NULG | Nuveen ESG Large-Cap Growth ETF | 25.6% | -74 bp | +4.8% |
| CACG | ClearBridge All Cap Growth ESG ETF | 25.4% | -46 bp | +3.8% |
| RUFF | Alpha Dog ETF | 24.8% | -6 bp | +4.8% |
| NBDS | Neuberger Berman Disrupters ETF | 24.4% | -45 bp | +1.7% |
| LRGE | ClearBridge Large Cap Growth ESG ETF | 24.3% | -41 bp | +3.9% |
| AMOM | Qraft AI-Enhanced U.S. Large Cap Momentum ETF | 24.2% | -25 bp | +3.8% |
| MTUM | iShares MSCI USA Momentum Factor ETF | 24.1% | -85 bp | +4.2% |
Risk and Returns: FFND vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 7/25/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
FFND
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Fund Rating
Our measure of an ETF's overall investment merit
ALTAR Score™
FFND
-0.2%
Cat. Avg
5.7%
Fund Category: US
| Avg. Return on Equity | --% |
| Divided by: Fwd. P/BV | --x |
| Less: Expenses | -- bp |
| Equals: ALTAR Score™ | -0.2% |
Recommendation
AVOID
Not worthwhile for most investors. A rating of AVOID is assigned to ETFs with ALTAR Scores in the lowest quintile (the bottom 20%) of their category. Often, funds in this category consist of stocks with little if any history or expectation of profitability, and as a result our fundamentally-driven analysis may be less relevant.
Category Overview
There are 899 funds in the US category, with an average ALTAR Score™
of 5.7% and a standard deviation of
2.4%. FFND's ALTAR Score™ is approximately
2.4 standard deviations
below
the category average. This places FFND in the 1st percentile among funds in the category.
Consensus Recommendation
Sell-side recommendations on the ETF's individual constituents
Composite
FFND
Peer Average
Recent Trends
SELL
U/W
HOLD
O/W
BUY
Recent Trends
Breakdown
Expense Analysis
| Peer Group | Active US Equity ETFs |
| # of ETFs | 308 |
| Avg. Expense Ratio | 67.1 bp |
| Std. Deviation | 37 bp |
| FFND (100 bp) Percentile rank | 81 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| FFND | 100.0 | 22.3 | 122.3 |
| Peer Avg. | 69.7 | 23.8 | 93.5 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .