AFLG vs. KNG

Last updated Jun 4, 2026

AFLG (First Trust Active Factor Large Cap ETF) and KNG (FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF) are both exchange-traded funds - AFLG is a Large Cap Growth Equities fund tracking the Goldman Sachs ActiveBeta U.S. Large Cap Equity Index, while KNG is a Dividend fund tracking the Cboe S&P 500 Dividend Aristocrats Target Income Index Monthly Series. Both are passively managed. Over the past 5 years, AFLG returned 12.91%/yr vs 4.31%/yr for KNG. A 0.77 correlation means they provide meaningful diversification when combined. AFLG charges 0.55%/yr vs 0.75%/yr for KNG.

Performance

AFLG vs. KNG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Active Factor Large Cap ETF (AFLG) and FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF (KNG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AFLG achieves a 12.37% return, which is significantly higher than KNG's 2.20% return.

AFLG

• 1D: -0.53%
• 1M: 3.98%
• YTD: 12.37%
• 6M: 12.19%
• 1Y: 24.98%
• 3Y*: 22.74%
• 5Y*: 12.91%
• 10Y*: —

KNG

• 1D: -0.04%
• 1M: 0.89%
• YTD: 2.20%
• 6M: 2.33%
• 1Y: 7.44%
• 3Y*: 7.06%
• 5Y*: 4.31%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AFLG vs. KNG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
AFLG First Trust Active Factor Large Cap ETF	12.37%	14.23%	27.02%	20.10%	-16.41%	27.29%	10.31%	2.77%
KNG FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF	2.20%	6.63%	5.99%	7.48%	-7.03%	24.78%	7.21%	2.48%

Correlation

The correlation between AFLG and KNG is 0.57, 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	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (All Time) Calculated using the full available price history since Dec 5, 2019	0.77

Over the past year, the correlation between AFLG and KNG has dropped to 0.57 - well below their long-term average of 0.77, suggesting their price drivers have been diverging.

AFLG vs. KNG - Sectors Allocation Comparison

Sectors	AFLG	KNG
Technology	33.6%	4.3%
Consumer Cyclical	10.2%	5.5%
Communication Services	10.1%	-
Financial Services	10.0%	12.7%
Industrials	9.4%	20.3%
Healthcare	7.8%	10.1%
Consumer Defensive	4.2%	23.5%
Utilities	4.1%	6.1%
Real Estate	3.8%	4.4%
Basic Materials	3.6%	10.2%
Energy	3.2%	3.0%

Return for Risk

AFLG vs. KNG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AFLG

AFLG Risk / Return Rank: 67
AFLG Sharpe Ratio Rank: 66
AFLG Sortino Ratio Rank: 66
AFLG Omega Ratio Rank: 65
AFLG Calmar Ratio Rank: 62
AFLG Martin Ratio Rank: 74

KNG

KNG Risk / Return Rank: 20
KNG Sharpe Ratio Rank: 21
KNG Sortino Ratio Rank: 21
KNG Omega Ratio Rank: 19
KNG Calmar Ratio Rank: 20
KNG Martin Ratio Rank: 19

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AFLG vs. KNG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Active Factor Large Cap ETF (AFLG) and FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF (KNG). 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.

	AFLG	KNG	Difference
Sharpe ratio: Return per unit of total volatility	2.19	0.73	+1.45
Sortino ratio: Return per unit of downside risk	3.07	1.15	+1.93
Omega ratio: Gain probability vs. loss probability	1.39	1.13	+0.26
Calmar ratio: Return relative to maximum drawdown	3.06	0.87	+2.19
Martin ratio: Return relative to average drawdown	14.04	2.25	+11.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AFLG vs. KNG - Sharpe Ratio Comparison

The current AFLG Sharpe Ratio is 2.19, which is higher than the KNG Sharpe Ratio of 0.73. The chart below compares the historical Sharpe Ratios of AFLG and KNG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AFLG	KNG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.19	0.73	+1.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.82	0.32	+0.50
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	0.49	+0.25

Drawdowns

AFLG vs. KNG - Drawdown Comparison

The maximum AFLG drawdown since its inception was -35.84%, roughly equal to the maximum KNG drawdown of -35.12%. Use the drawdown chart below to compare losses from any high point for AFLG and KNG.

Drawdown Indicators

	AFLG	KNG	Difference
Max Drawdown Largest peak-to-trough decline	-35.84%	-35.12%	-0.72%
Max Drawdown (1Y) Largest decline over 1 year	-8.19%	-8.61%	+0.42%
Max Drawdown (3Y) Largest decline over 3 years	-17.49%	-14.24%	-3.25%
Max Drawdown (5Y) Largest decline over 5 years	-23.48%	-18.20%	-5.28%
Current Drawdown Current decline from peak	-0.53%	-5.89%	+5.36%
Average Drawdown Average peak-to-trough decline	-5.71%	-4.13%	-1.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.78%	3.32%	-1.54%

Volatility

AFLG vs. KNG - Volatility Comparison

First Trust Active Factor Large Cap ETF (AFLG) has a higher volatility of 2.86% compared to FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF (KNG) at 2.29%. This indicates that AFLG's price experiences larger fluctuations and is considered to be riskier than KNG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AFLG	KNG	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.86%	2.29%	+0.57%
Volatility (6M) Calculated over the trailing 6-month period	8.81%	7.39%	+1.42%
Volatility (1Y) Calculated over the trailing 1-year period	11.47%	10.19%	+1.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.82%	13.59%	+2.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.20%	17.18%	+2.02%

AFLG vs. KNG - Expense Ratio Comparison

AFLG has a 0.55% expense ratio, which is lower than KNG's 0.75% expense ratio.

Dividends

AFLG vs. KNG - Dividend Comparison

AFLG's dividend yield for the trailing twelve months is around 0.70%, less than KNG's 8.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
AFLG First Trust Active Factor Large Cap ETF	0.70%	0.84%	0.53%	1.53%	1.52%	0.93%	1.28%	0.20%	0.00%
KNG FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF	8.67%	8.61%	9.08%	5.91%	4.00%	3.45%	3.62%	4.09%	3.46%

Frequently Asked Questions

Can I hold both AFLG and KNG in my portfolio?

AFLG and KNG have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AFLG or KNG?

AFLG has higher volatility (2.86%) compared to KNG (2.29%). In terms of maximum drawdown, AFLG dropped -35.84% vs KNG's -35.12%.

Which ETF is better, AFLG or KNG?

On 5-year performance, AFLG leads with 12.91% vs 4.31% for KNG. On fees, AFLG is cheaper at 0.55% per year. On volatility, KNG has been the lower-risk option at 2.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AFLG or KNG?

Over the 5-year period, AFLG has performed better with a 12.91% return vs 4.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AFLG or KNG?

AFLG is cheaper with a 0.55% expense ratio, compared with 0.75% for KNG.

Which ETF pays a higher dividend yield, AFLG or KNG?

KNG has the higher dividend yield at 8.67%, compared with 0.70% for AFLG.

What is the main difference between AFLG and KNG?

AFLG is categorized as Large Cap Growth Equities, while KNG is Dividend. AFLG tracks Goldman Sachs ActiveBeta U.S. Large Cap Equity Index, while KNG tracks Cboe S&P 500 Dividend Aristocrats Target Income Index Monthly Series. Their fees differ too: 0.55% for AFLG and 0.75% for KNG.

Which has better risk-adjusted returns?

AFLG currently has the higher Sharpe Ratio (2.19 vs 0.73), 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.