iShares Managed Futures Active ETF (ISMF)

iShares Managed Futures Active ETF is an actively managed fund from BlackRock's iShares family that follows a managed futures approach. Rather than holding stocks or bonds outright, it takes long and short positions in futures and forward contracts across several asset classes, such as equity indexes, government bonds, currencies and commodities.

Managed futures strategies are typically driven by systematic signals like price trends, and aim to deliver returns that have little correlation with traditional stock and bond portfolios. The fund holds cash and short-term instruments as collateral for its derivative positions and may use a subsidiary to access commodity futures. Position sizes and direction are adjusted over time as market signals change.