AFSM vs. MEAR
Compare and contrast key facts about First Trust Active Factor Small Cap ETF (AFSM) and iShares Short Maturity Municipal Bond ETF (MEAR).
AFSM and MEAR 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. MEAR is an actively managed fund by iShares. It was launched on Mar 3, 2015.
Performance
AFSM vs. MEAR - Performance Comparison
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AFSM vs. MEAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
AFSM First Trust Active Factor Small Cap ETF | 0.06% | 9.99% | 10.55% | 22.23% | -17.50% | 26.03% | 8.44% | 2.63% |
MEAR iShares Short Maturity Municipal Bond ETF | 0.47% | 3.76% | 3.40% | 3.93% | 0.10% | 0.05% | 1.18% | 0.01% |
Returns By Period
In the year-to-date period, AFSM achieves a 0.06% return, which is significantly lower than MEAR's 0.47% return.
AFSM
- 1D
- 3.20%
- 1M
- -4.89%
- YTD
- 0.06%
- 6M
- 0.77%
- 1Y
- 18.24%
- 3Y*
- 13.07%
- 5Y*
- 6.13%
- 10Y*
- —
MEAR
- 1D
- 0.12%
- 1M
- -0.31%
- YTD
- 0.47%
- 6M
- 1.07%
- 1Y
- 3.12%
- 3Y*
- 3.50%
- 5Y*
- 2.30%
- 10Y*
- 1.74%
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AFSM vs. MEAR - Expense Ratio Comparison
AFSM has a 0.77% expense ratio, which is higher than MEAR's 0.25% expense ratio.
Return for Risk
AFSM vs. MEAR — Risk / Return Rank
AFSM
MEAR
AFSM vs. MEAR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Active Factor Small Cap ETF (AFSM) and iShares Short Maturity Municipal Bond ETF (MEAR). 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.
| AFSM | MEAR | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.86 | 2.71 | -1.85 |
Sortino ratioReturn per unit of downside risk | 1.34 | 3.63 | -2.29 |
Omega ratioGain probability vs. loss probability | 1.17 | 1.70 | -0.52 |
Calmar ratioReturn relative to maximum drawdown | 1.57 | 3.69 | -2.12 |
Martin ratioReturn relative to average drawdown | 5.76 | 20.82 | -15.06 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AFSM | MEAR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.86 | 2.71 | -1.85 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.30 | 2.37 | -2.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.15 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | 1.09 | -0.74 |
Correlation
The correlation between AFSM and MEAR is 0.11, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
AFSM vs. MEAR - Dividend Comparison
AFSM's dividend yield for the trailing twelve months is around 0.55%, less than MEAR's 2.87% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AFSM First Trust Active Factor Small Cap ETF | 0.55% | 0.58% | 0.58% | 0.92% | 1.28% | 0.35% | 0.53% | 0.32% | 0.00% | 0.00% | 0.00% | 0.00% |
MEAR iShares Short Maturity Municipal Bond ETF | 2.87% | 2.95% | 3.44% | 3.30% | 0.88% | 0.30% | 0.90% | 1.57% | 1.36% | 1.01% | 0.81% | 0.53% |
Drawdowns
AFSM vs. MEAR - Drawdown Comparison
The maximum AFSM drawdown since its inception was -43.54%, which is greater than MEAR's maximum drawdown of -2.68%. Use the drawdown chart below to compare losses from any high point for AFSM and MEAR.
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Drawdown Indicators
| AFSM | MEAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.54% | -2.68% | -40.86% |
Max Drawdown (1Y)Largest decline over 1 year | -12.41% | -0.86% | -11.55% |
Max Drawdown (5Y)Largest decline over 5 years | -28.27% | -1.12% | -27.15% |
Max Drawdown (10Y)Largest decline over 10 years | — | -2.68% | — |
Current DrawdownCurrent decline from peak | -6.67% | -0.35% | -6.32% |
Average DrawdownAverage peak-to-trough decline | -9.71% | -0.19% | -9.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.39% | 0.15% | +3.24% |
Volatility
AFSM vs. MEAR - Volatility Comparison
First Trust Active Factor Small Cap ETF (AFSM) has a higher volatility of 7.78% compared to iShares Short Maturity Municipal Bond ETF (MEAR) at 0.36%. This indicates that AFSM's price experiences larger fluctuations and is considered to be riskier than MEAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AFSM | MEAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.78% | 0.36% | +7.42% |
Volatility (6M)Calculated over the trailing 6-month period | 13.43% | 0.60% | +12.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.43% | 1.16% | +20.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.86% | 0.98% | +19.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.57% | 1.52% | +24.05% |