NEW YORK ( TheStreet) -- Four years ago, I wrote about the then new Rydex Managed Futures Fund ( RYMFX) for RealMoney.com. That fund tracks the S&P Diversified Trends Indicator which goes long or short 16 commodity futures and eight financial futures based on whether each component is above or below its seven-month moving average. The commodity and financial portions each target 50% of the index. The goal of the strategy is to offer an absolute return strategy that has a low correlation to the U.S. stock market. I bought this fund for most of my clients shortly after its debut and still hold it. It has lived up to its billing with a low correlation to the S&P 500 going up dramatically in late 2008 as the stock market unraveled in the face of the Lehman crisis. True to that first article, the fund zigged when the stock market zagged. Since inception, the fund is up 3.25% vs. a decline of 8.8% for the S&P 500. In mid-2008, ETN provider ELEMENTS came out with the ELEMENTS Linked to the S&P Commodity Trends Indicator Total Return (LSC) which applied the same strategy but only with commodities. The ELEMENTS ETN also has delivered low correlation to equities including an even larger rally during the Lehman crisis but has been far more volatile. WisdomTree recently brought this strategy to the exchange-traded fund market with the WisdomTree Managed Futures Strategy Fund ( WDTI). The new WisdomTree ETF will strategically be like the Rydex Managed Futures fund in terms of investing in both commodities and financial instruments while having the trading flexibility of other exchange-traded products including the LSC ETN. In general terms, the ETF is the superior wrapper because ETNs are debt obligations of the issuer, in the case of LSC that would be HSBC ( HBC) . In addition to more trading flexibility than the Rydex fund, the new WisdomTree ETF will be much cheaper charging only 0.95% vs. 2.05%. One hundred basis points less in fees would have had a dramatic effect on RYMFX's result since inception and that dramatic effect should be captured going forward with WisdomTree's ETF.