AFMC vs. VPC

Last updated Jun 4, 2026

AFMC (First Trust Active Factor Mid Cap ETF) and VPC (Virtus Private Credit ETF) are both exchange-traded funds - AFMC is a Mid Cap Blend Equities fund actively managed by First Trust, while VPC is a Nontraditional Bonds fund tracking the Indxx Private Credit Index. AFMC is actively managed, while VPC is passively managed. Over the past 5 years, AFMC returned 10.49%/yr vs 1.17%/yr for VPC. A 0.61 correlation means they provide meaningful diversification when combined. AFMC charges 0.65%/yr vs 0.75%/yr for VPC.

Performance

AFMC vs. VPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Active Factor Mid Cap ETF (AFMC) and Virtus Private Credit ETF (VPC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AFMC achieves a 16.54% return, which is significantly higher than VPC's -9.26% return.

AFMC

• 1D: 0.05%
• 1M: 4.34%
• YTD: 16.54%
• 6M: 17.09%
• 1Y: 28.05%
• 3Y*: 20.73%
• 5Y*: 10.49%
• 10Y*: —

VPC

• 1D: -1.89%
• 1M: -5.24%
• YTD: -9.26%
• 6M: -10.18%
• 1Y: -12.88%
• 3Y*: 2.85%
• 5Y*: 1.17%
• 10Y*: —

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

AFMC vs. VPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
AFMC First Trust Active Factor Mid Cap ETF	16.54%	10.23%	19.06%	21.46%	-15.55%	25.75%	5.87%	2.56%
VPC Virtus Private Credit ETF	-9.26%	-6.75%	10.52%	22.20%	-11.70%	34.18%	-9.50%	1.62%

Correlation

The correlation between AFMC and VPC is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.61
Correlation (All Time) Calculated using the full available price history since Dec 5, 2019	0.61

The correlation between AFMC and VPC shifts across timeframes, from 0.44 (1 year) to 0.61 (5 years), reflecting how their relationship changes across market environments.

AFMC vs. VPC - Sectors Allocation Comparison

Sectors	AFMC	VPC
Technology	20.8%	1.3%
Industrials	17.5%	0.1%
Consumer Cyclical	13.8%	0.1%
Healthcare	12.3%	0.0%
Financial Services	11.2%	98.3%
Real Estate	5.9%	-
Basic Materials	5.6%	-
Consumer Defensive	5.2%	-
Energy	3.7%	0.0%
Communication Services	1.9%	0.1%
Utilities	1.5%	-

Return for Risk

AFMC vs. VPC — Risk / Return Rank

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

AFMC

AFMC Risk / Return Rank: 61
AFMC Sharpe Ratio Rank: 55
AFMC Sortino Ratio Rank: 57
AFMC Omega Ratio Rank: 54
AFMC Calmar Ratio Rank: 69
AFMC Martin Ratio Rank: 67

VPC

VPC Risk / Return Rank: 3
VPC Sharpe Ratio Rank: 1
VPC Sortino Ratio Rank: 2
VPC Omega Ratio Rank: 2
VPC Calmar Ratio Rank: 4
VPC Martin Ratio Rank: 3

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.

AFMC vs. VPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Active Factor Mid Cap ETF (AFMC) and Virtus Private Credit ETF (VPC). 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.

	AFMC	VPC	Difference
Sharpe ratio: Return per unit of total volatility	1.89	-0.98	+2.87
Sortino ratio: Return per unit of downside risk	2.74	-1.33	+4.07
Omega ratio: Gain probability vs. loss probability	1.33	0.85	+0.48
Calmar ratio: Return relative to maximum drawdown	3.43	-0.57	+4.00
Martin ratio: Return relative to average drawdown	12.40	-1.13	+13.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AFMC vs. VPC - Sharpe Ratio Comparison

The current AFMC Sharpe Ratio is 1.89, which is higher than the VPC Sharpe Ratio of -0.98. The chart below compares the historical Sharpe Ratios of AFMC and VPC, 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

	AFMC	VPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.89	-0.98	+2.87
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.56	0.09	+0.47
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.20	+0.35

Drawdowns

AFMC vs. VPC - Drawdown Comparison

The maximum AFMC drawdown since its inception was -42.14%, smaller than the maximum VPC drawdown of -53.45%. Use the drawdown chart below to compare losses from any high point for AFMC and VPC.

Drawdown Indicators

	AFMC	VPC	Difference
Max Drawdown Largest peak-to-trough decline	-42.14%	-53.45%	+11.31%
Max Drawdown (1Y) Largest decline over 1 year	-8.20%	-22.76%	+14.56%
Max Drawdown (3Y) Largest decline over 3 years	-21.99%	-24.86%	+2.87%
Max Drawdown (5Y) Largest decline over 5 years	-25.40%	-24.86%	-0.54%
Current Drawdown Current decline from peak	0.00%	-19.63%	+19.63%
Average Drawdown Average peak-to-trough decline	-7.62%	-7.67%	+0.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.27%	11.45%	-9.18%

Volatility

AFMC vs. VPC - Volatility Comparison

First Trust Active Factor Mid Cap ETF (AFMC) has a higher volatility of 4.71% compared to Virtus Private Credit ETF (VPC) at 3.27%. This indicates that AFMC's price experiences larger fluctuations and is considered to be riskier than VPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AFMC	VPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.71%	3.27%	+1.44%
Volatility (6M) Calculated over the trailing 6-month period	11.00%	10.85%	+0.15%
Volatility (1Y) Calculated over the trailing 1-year period	14.94%	13.17%	+1.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.96%	13.50%	+5.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.93%	20.56%	+2.37%

AFMC vs. VPC - Expense Ratio Comparison

AFMC has a 0.65% expense ratio, which is lower than VPC's 0.75% expense ratio.

Dividends

AFMC vs. VPC - Dividend Comparison

AFMC's dividend yield for the trailing twelve months is around 0.78%, less than VPC's 17.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
AFMC First Trust Active Factor Mid Cap ETF	0.78%	0.96%	0.64%	0.87%	1.42%	0.84%	1.05%	0.29%
VPC Virtus Private Credit ETF	17.30%	14.33%	11.26%	11.71%	10.74%	6.31%	10.06%	8.19%

Frequently Asked Questions

Can I hold both AFMC and VPC in my portfolio?

AFMC and VPC have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AFMC or VPC?

AFMC has higher volatility (4.71%) compared to VPC (3.27%). In terms of maximum drawdown, AFMC dropped -42.14% vs VPC's -53.45%.

Which ETF is better, AFMC or VPC?

On 5-year performance, AFMC leads with 10.49% vs 1.17% for VPC. On fees, AFMC is cheaper at 0.65% per year. On volatility, VPC has been the lower-risk option at 3.27%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AFMC or VPC?

Over the 5-year period, AFMC has performed better with a 10.49% return vs 1.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AFMC or VPC?

AFMC is cheaper with a 0.65% expense ratio, compared with 0.75% for VPC.

Which ETF pays a higher dividend yield, AFMC or VPC?

VPC has the higher dividend yield at 17.30%, compared with 0.78% for AFMC.

What is the main difference between AFMC and VPC?

AFMC is categorized as Mid Cap Blend Equities, while VPC is Nontraditional Bonds. They also come from different issuers: First Trust and Virtus Investment Partners. Their fees differ too: 0.65% for AFMC and 0.75% for VPC.

Which has better risk-adjusted returns?

AFMC currently has the higher Sharpe Ratio (1.89 vs -0.98), 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.