- ISIN
- US33740U7946
- Issuer
- First Trust
- Inception Date
- Oct 13, 2021
- Region
- North America (U.S.)
- Category
- Small Cap Growth Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Accumulating
- Asset Class
- Equity
- Asset Class Size
- Small-Cap
- Asset Class Style
- Growth
- Assets Under Management
- $52M
Share Price Chart
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Performance
MMSC Performance Chart
First Trust Multi-Manager Small Cap Opportunities ETF (MMSC) is up 18.6% since the beginning of the year. MMSC is currently trading at $28 per share.
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Returns By Period
First Trust Multi-Manager Small Cap Opportunities ETF (MMSC) has returned 18.57% so far this year and 45.03% over the past 12 months.
First Trust Multi-Manager Small Cap Opportunities ETF
- 1D
- 1.00%
- 1M
- 5.61%
- YTD
- 18.57%
- 6M
- 19.48%
- 1Y
- 45.03%
- 3Y*
- 22.75%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 0.13%
- 1M
- 5.25%
- YTD
- 11.16%
- 6M
- 11.43%
- 1Y
- 28.20%
- 3Y*
- 21.12%
- 5Y*
- 12.66%
- 10Y*
- 13.75%
MMSC Monthly Returns History
Based on dividend-adjusted daily data since Oct 14, 2021, MMSC's average daily return is +0.04%, while the average monthly return is +0.76%. At this rate, an investment would double in approximately 7.6 years.
Historically, 58% of months were positive and 42% were negative. The best month was Apr 2026 with a return of +13.3%, while the worst month was Jan 2022 at -16.7%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 4 months.
On a daily basis, MMSC closed higher 53% of trading days. The best single day was Apr 9, 2025 with a return of +10.5%, while the worst single day was Apr 3, 2025 at -6.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 5.25% | 0.24% | -6.15% | 13.30% | 5.13% | 0.53% | 18.57% | ||||||
| 2025 | 3.96% | -8.77% | -7.57% | 1.05% | 5.55% | 6.46% | 1.89% | 4.88% | 5.44% | 4.69% | -0.51% | -1.18% | 15.45% |
| 2024 | 0.98% | 10.81% | 2.47% | -6.05% | 5.05% | 0.15% | 2.43% | 1.87% | 2.13% | -1.07% | 11.35% | -8.17% | 22.19% |
| 2023 | 7.46% | -0.71% | -1.45% | -1.07% | -0.04% | 8.35% | 2.86% | -1.43% | -6.15% | -6.62% | 9.41% | 8.44% | 18.76% |
| 2022 | -16.71% | 0.99% | 0.00% | -11.32% | -2.34% | -8.35% | 10.15% | -0.60% | -7.47% | 8.93% | 0.30% | -6.62% | -30.98% |
| 2021 | 4.08% | -3.08% | 0.14% | 1.01% |
Benchmark Metrics
First Trust Multi-Manager Small Cap Opportunities ETF has an annualized alpha of -5.97%, beta of 1.23, and R2 of 0.75 versus S&P 500 Index. Calculated based on daily prices since October 15, 2021.
- This ETF participated in 126.25% of S&P 500 Index downside but only 107.61% of its upside - more exposed to losses than it benefited from rallies.
- This ETF had an annualized alpha of -5.97% versus S&P 500 Index - delivering less than market exposure alone would predict.
- Alpha
- -5.97%
- Beta
- 1.23
- R²
- 0.75
- Upside Capture
- 107.61%
- Downside Capture
- 126.25%
Expense Ratio
MMSC has a high expense ratio of 0.95%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
MMSC ranks 59 for risk / return — on par with similar ETFs. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for First Trust Multi-Manager Small Cap Opportunities ETF (MMSC) and compare them to S&P 500 Index.
| MMSC | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.03 | 2.39 | -0.36 |
Sortino ratioReturn per unit of downside risk | 2.70 | 3.25 | -0.56 |
Omega ratioGain probability vs. loss probability | 1.34 | 1.43 | -0.10 |
Calmar ratioReturn relative to maximum drawdown | 3.21 | 3.11 | +0.09 |
Martin ratioReturn relative to average drawdown | 12.25 | 14.38 | -2.13 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
First Trust Multi-Manager Small Cap Opportunities ETF provided a 0.00% dividend yield over the last twelve months, with an annual payout of $0.00 per share.
| Period | TTM | 2025 | 2024 |
|---|---|---|---|
| Dividend | $0.00 | $0.00 | $0.09 |
Dividend yield | 0.00% | 0.00% | 0.41% |
Monthly Dividends
The table displays the monthly dividend distributions for First Trust Multi-Manager Small Cap Opportunities ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2024 | $0.09 | $0.09 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the First Trust Multi-Manager Small Cap Opportunities ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the First Trust Multi-Manager Small Cap Opportunities ETF was 40.82%, occurring on Jun 16, 2022. Recovery took 604 trading sessions.
The current First Trust Multi-Manager Small Cap Opportunities ETF drawdown is 0.14%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -40.82%Jun 2022 | 7mo 9d | 2y 4mo | 3y 3dNov 2021 - Nov 2024 |
2025 selloff2025 | -29.76%Apr 2025 | 4mo 4d | 5mo 12d | 9mo 16dDec 2024 - Sep 2025 |
2026 correction2026 | -14.10%Mar 2026 | 2mo 6d | 18d | 2mo 24dJan 2026 - Apr 2026 |
2025 correction2025 | -10.04%Nov 2025 | 22d | 20d | 1mo 12dOct 2025 - Dec 2025 |
2025 pullback2025 | -6.14%Dec 2025 | 5d | 20d | 25dDec 2025 - Jan 2026 |
Drawdown Indicators
| MMSC | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.82% | -56.78% | +15.96% |
Max Drawdown (1Y)Largest decline over 1 year | -14.10% | -9.10% | -5.00% |
Max Drawdown (3Y)Largest decline over 3 years | -29.76% | -18.90% | -10.86% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.14% | 0.00% | -0.14% |
Average DrawdownAverage peak-to-trough decline | -18.80% | -10.72% | -8.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.69% | 1.97% | +1.72% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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