AFSM vs. IWC
Compare and contrast key facts about First Trust Active Factor Small Cap ETF (AFSM) and iShares Microcap ETF (IWC).
AFSM and IWC are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. AFSM is an actively managed fund by First Trust. It was launched on Dec 3, 2019. IWC is a passively managed fund by iShares that tracks the performance of the Russell Microcap Index. It was launched on Aug 12, 2005.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: AFSM or IWC.
Key characteristics
| AFSM | IWC | |
|---|---|---|
| YTD Return | 7.02% | 2.94% |
| 1Y Return | 19.00% | 13.83% |
| 3Y Return (Ann) | 3.85% | -6.33% |
| Sharpe Ratio | 0.97 | 0.54 |
| Daily Std Dev | 19.46% | 23.79% |
| Max Drawdown | -43.54% | -64.61% |
| Current Drawdown | -5.82% | -22.19% |
Correlation
The correlation between AFSM and IWC is 0.91, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
AFSM vs. IWC - Performance Comparison
In the year-to-date period, AFSM achieves a 7.02% return, which is significantly higher than IWC's 2.94% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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AFSM vs. IWC - Expense Ratio Comparison
AFSM has a 0.77% expense ratio, which is higher than IWC's 0.60% expense ratio.
Risk-Adjusted Performance
AFSM vs. IWC - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Active Factor Small Cap ETF (AFSM) and iShares Microcap ETF (IWC). 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.
Dividends
AFSM vs. IWC - Dividend Comparison
AFSM's dividend yield for the trailing twelve months is around 0.80%, less than IWC's 1.17% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AFSM First Trust Active Factor Small Cap ETF | 0.80% | 0.92% | 1.28% | 0.35% | 0.53% | 0.32% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
IWC iShares Microcap ETF | 1.17% | 1.17% | 1.18% | 0.78% | 0.98% | 1.19% | 1.01% | 1.09% | 1.16% | 1.49% | 1.11% | 1.01% |
Drawdowns
AFSM vs. IWC - Drawdown Comparison
The maximum AFSM drawdown since its inception was -43.54%, smaller than the maximum IWC drawdown of -64.61%. Use the drawdown chart below to compare losses from any high point for AFSM and IWC. For additional features, visit the drawdowns tool.
Volatility
AFSM vs. IWC - Volatility Comparison
The current volatility for First Trust Active Factor Small Cap ETF (AFSM) is 6.50%, while iShares Microcap ETF (IWC) has a volatility of 7.68%. This indicates that AFSM experiences smaller price fluctuations and is considered to be less risky than IWC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.