ADME vs. FTLS
ADME (Aptus Drawdown Managed Equity ETF) and FTLS (First Trust Long/Short Equity ETF) are both exchange-traded funds - ADME is a Hedge Fund fund tracking the Aptus Behavioral Momentum Index, while FTLS is a Long-Short fund actively managed by First Trust. ADME is passively managed, while FTLS is actively managed. Over the past 10 years, ADME returned 8.73%/yr vs 9.94%/yr for FTLS. A 0.75 correlation means they provide meaningful diversification when combined. ADME charges 0.79%/yr vs 1.60%/yr for FTLS.
Performance
ADME vs. FTLS - Performance Comparison
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Returns By Period
In the year-to-date period, ADME achieves a 7.37% return, which is significantly higher than FTLS's 4.70% return. Over the past 10 years, ADME has underperformed FTLS with an annualized return of 8.73%, while FTLS has yielded a comparatively higher 9.94% annualized return.
ADME
- 1D
- -1.15%
- 1M
- -1.31%
- YTD
- 7.37%
- 6M
- 6.36%
- 1Y
- 17.42%
- 3Y*
- 16.12%
- 5Y*
- 7.44%
- 10Y*
- 8.73%
FTLS
- 1D
- -0.80%
- 1M
- -0.52%
- YTD
- 4.70%
- 6M
- 4.14%
- 1Y
- 15.03%
- 3Y*
- 14.05%
- 5Y*
- 10.03%
- 10Y*
- 9.94%
ADME vs. FTLS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ADME Aptus Drawdown Managed Equity ETF | 7.37% | 10.28% | 22.11% | 15.42% | -21.80% | 20.24% | 18.21% | 9.31% | -6.05% | 17.58% |
FTLS First Trust Long/Short Equity ETF | 4.70% | 9.09% | 18.80% | 16.94% | -5.56% | 19.65% | 2.56% | 16.16% | -4.81% | 14.41% |
Correlation
The correlation between ADME and FTLS is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.76 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.75 |
Correlation (All Time) Calculated using the full available price history since Jun 9, 2016 | 0.75 |
The correlation between ADME and FTLS has been stable across timeframes, ranging from 0.75 to 0.76 - a consistent structural relationship.
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Return for Risk
ADME vs. FTLS — Risk / Return Rank
ADME
FTLS
ADME vs. FTLS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Aptus Drawdown Managed Equity ETF (ADME) and First Trust Long/Short Equity ETF (FTLS). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ADME | FTLS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.16 | ||
| Sortino ratioReturn per unit of downside risk | -0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.33 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.34 | 3.99 | -1.65 |
| Martin ratioReturn relative to average drawdown | 9.68 | 12.35 | -2.67 |
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Drawdowns
ADME vs. FTLS - Drawdown Comparison
The maximum ADME drawdown since its inception was -27.49%, which is greater than FTLS's maximum drawdown of -20.54%. Use the drawdown chart below to compare losses from any high point for ADME and FTLS.
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Drawdown Indicators
| ADME | FTLS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.49% | -20.54% | -6.95% |
Max Drawdown (1Y)Largest decline over 1 year | -7.49% | -3.79% | -3.70% |
Max Drawdown (3Y)Largest decline over 3 years | -15.67% | -11.69% | -3.98% |
Max Drawdown (5Y)Largest decline over 5 years | -23.43% | -11.69% | -11.74% |
Max Drawdown (10Y)Largest decline over 10 years | -27.49% | -20.54% | -6.95% |
Current DrawdownCurrent decline from peak | -2.93% | -0.82% | -2.11% |
Average DrawdownAverage peak-to-trough decline | -7.89% | -2.69% | -5.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.80% | 1.22% | +0.58% |
Volatility
ADME vs. FTLS - Volatility Comparison
Aptus Drawdown Managed Equity ETF (ADME) has a higher volatility of 4.57% compared to First Trust Long/Short Equity ETF (FTLS) at 2.55%. This indicates that ADME's price experiences larger fluctuations and is considered to be riskier than FTLS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ADME | FTLS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.57% | 2.55% | +2.02% |
Volatility (6M)Calculated over the trailing 6-month period | 8.63% | 5.95% | +2.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.73% | 8.40% | +2.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.00% | 10.58% | +2.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.45% | 11.27% | +3.18% |
ADME vs. FTLS - Expense Ratio Comparison
ADME has a 0.79% expense ratio, which is lower than FTLS's 1.60% expense ratio.
Dividends
ADME vs. FTLS - Dividend Comparison
ADME's dividend yield for the trailing twelve months is around 0.38%, less than FTLS's 0.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ADME Aptus Drawdown Managed Equity ETF | 0.38% | 0.38% | 0.47% | 0.78% | 0.73% | 0.26% | 0.41% | 0.70% | 0.86% | 0.32% | 0.69% | 0.00% |
FTLS First Trust Long/Short Equity ETF | 0.90% | 1.07% | 1.50% | 1.49% | 0.81% | 0.01% | 0.44% | 0.83% | 0.87% | 0.43% | 1.04% | 0.49% |
Frequently Asked Questions
ADME and FTLS have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ADME has higher volatility (4.57%) compared to FTLS (2.55%). In terms of maximum drawdown, ADME dropped -27.49% vs FTLS's -20.54%.
On 10-year performance, FTLS leads with 9.94% vs 8.73% for ADME. On fees, ADME is cheaper at 0.79% per year. On volatility, FTLS has been the lower-risk option at 2.55%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FTLS has performed better with a 9.94% return vs 8.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ADME is cheaper with a 0.79% expense ratio, compared with 1.60% for FTLS.
FTLS has the higher dividend yield at 0.90%, compared with 0.38% for ADME.
ADME is categorized as Hedge Fund, while FTLS is Long-Short. They also come from different issuers: Aptus Capital Advisors and First Trust. Their fees differ too: 0.79% for ADME and 1.60% for FTLS.
FTLS currently has the higher Sharpe Ratio (1.80 vs 1.64), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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