Key Takeaways
- • The iShares Managed Futures Active ETF (ISMF) seeks to maximize total return by investing at least 80% of net assets, based on notional value, in futures contracts and futures-related instruments such as forward contracts.
- • The fund follows a trend strategy across global markets spanning equities, fixed income, currencies and commodities, and is structured as a non-diversified fund.
- • As of the most recent update, United States Treasury Bills at 0% maturing 01/21/27 comprised 91.00% of net assets, with BlackRock Cash Funds Treasury SL Agency at 1.54%.
- • The fund reported 1,320,000 shares outstanding in its fund snapshot.
Summary
The iShares Managed Futures Active ETF (ISMF) is an actively managed exchange-traded fund whose stated objective is to maximize total return. Under normal market conditions, the fund commits at least 80% of its net assets, plus any borrowing for investment purposes and measured on a notional value basis, to futures contracts and futures-related instruments, including forward contracts. The fund's manager applies a trend-following strategy, taking positions across global markets in equities, fixed income, currencies and commodities. The fund is classified as non-diversified, which permits greater concentration in individual positions than a diversified fund would hold.
The fund's top holdings as of its most recent update on 10/07/26 are heavily concentrated in short-term government paper. United States Treasury Bills with a 0% coupon and a maturity date of 01/21/27 account for 91.00% of net assets. The only other top-10 position listed is BlackRock Cash Funds Treasury SL Agency, at 1.54% of net assets. The concentration in Treasury bills suggests the fund holds the bulk of its assets in cash-equivalent collateral that supports its futures exposure, though the source does not detail the allocation of its derivative positions.
The fund snapshot shows 1,320,000 shares outstanding, updated 10/09/26. The source is a fund profile page that also references performance, expense ratio and volatility metrics, but those figures were not included in the material available for this summary.
The fund's top holdings as of its most recent update on 10/07/26 are heavily concentrated in short-term government paper. United States Treasury Bills with a 0% coupon and a maturity date of 01/21/27 account for 91.00% of net assets. The only other top-10 position listed is BlackRock Cash Funds Treasury SL Agency, at 1.54% of net assets. The concentration in Treasury bills suggests the fund holds the bulk of its assets in cash-equivalent collateral that supports its futures exposure, though the source does not detail the allocation of its derivative positions.
The fund snapshot shows 1,320,000 shares outstanding, updated 10/09/26. The source is a fund profile page that also references performance, expense ratio and volatility metrics, but those figures were not included in the material available for this summary.
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