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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in First Trust Multi-Manager Small Cap Opportunities ETF, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
First Trust Multi-Manager Small Cap Opportunities ETF (MMSC) has returned -0.98% so far this year and 30.40% over the past 12 months.
First Trust Multi-Manager Small Cap Opportunities ETF
- 1D
- 4.82%
- 1M
- -6.15%
- YTD
- -0.98%
- 6M
- 1.92%
- 1Y
- 30.40%
- 3Y*
- 16.41%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Oct 14, 2021, MMSC's average daily return is +0.02%, while the average monthly return is +0.45%. At this rate, your investment would double in approximately 12.9 years.
Historically, 56% of months were positive and 44% were negative. The best month was Nov 2024 with a return of +11.4%, 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% | -0.98% | |||||||||
| 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 -6.02%, beta of 1.22, and R² of 0.76 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 105.69% of its upside — more exposed to losses than it benefited from rallies.
- This ETF had an annualized alpha of -6.02% versus S&P 500 Index — delivering less than market exposure alone would predict.
- Alpha
- -6.02%
- Beta
- 1.22
- R²
- 0.76
- Upside Capture
- 105.69%
- 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 66 for risk / return — better than 66% of ETFs on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
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 a chosen benchmark (S&P 500 Index).
| MMSC | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.16 | 0.90 | +0.26 |
Sortino ratioReturn per unit of downside risk | 1.70 | 1.39 | +0.31 |
Omega ratioGain probability vs. loss probability | 1.23 | 1.21 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 2.05 | 1.40 | +0.65 |
Martin ratioReturn relative to average drawdown | 7.28 | 6.61 | +0.67 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore MMSC risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
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 | |||||||||
| 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 9.96%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -40.82% | Nov 9, 2021 | 152 | Jun 16, 2022 | 604 | Nov 11, 2024 | 756 |
| -29.76% | Dec 5, 2024 | 84 | Apr 8, 2025 | 111 | Sep 17, 2025 | 195 |
| -14.1% | Jan 23, 2026 | 46 | Mar 30, 2026 | — | — | — |
| -10.04% | Oct 29, 2025 | 17 | Nov 20, 2025 | 13 | Dec 10, 2025 | 30 |
| -6.14% | Dec 12, 2025 | 4 | Dec 17, 2025 | 12 | Jan 6, 2026 | 16 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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