ASCE vs. FDM

Last updated Jun 4, 2026

ASCE (Allspring SMID Core ETF) and FDM (First Trust Dow Jones Select MicroCap Index Fund) are both Small Cap Blend Equities funds. ASCE is actively managed, while FDM is passively managed. A 0.72 correlation means they provide meaningful diversification when combined. ASCE charges 0.38%/yr vs 0.60%/yr for FDM.

Performance

ASCE vs. FDM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allspring SMID Core ETF (ASCE) and First Trust Dow Jones Select MicroCap Index Fund (FDM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ASCE achieves a 22.25% return, which is significantly higher than FDM's 7.48% return.

ASCE

• 1D: -0.38%
• 1M: 5.38%
• YTD: 22.25%
• 6M: 21.06%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FDM

• 1D: -2.13%
• 1M: -2.89%
• YTD: 7.48%
• 6M: 7.77%
• 1Y: 27.59%
• 3Y*: 18.03%
• 5Y*: 8.37%
• 10Y*: 11.42%

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

ASCE vs. FDM - Yearly Performance Comparison

	2026 (YTD)	2025
ASCE Allspring SMID Core ETF	22.25%	8.61%
FDM First Trust Dow Jones Select MicroCap Index Fund	7.48%	9.82%

Correlation

The correlation between ASCE and FDM is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 9, 2025	0.72

Return for Risk

ASCE vs. FDM — Risk / Return Rank

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

FDM

FDM Risk / Return Rank: 47
FDM Sharpe Ratio Rank: 41
FDM Sortino Ratio Rank: 43
FDM Omega Ratio Rank: 39
FDM Calmar Ratio Rank: 60
FDM Martin Ratio Rank: 52

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.

ASCE vs. FDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allspring SMID Core ETF (ASCE) and First Trust Dow Jones Select MicroCap Index Fund (FDM). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	ASCE	FDM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.47	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.39	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.49	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.92	0.34	+1.57

Drawdowns

ASCE vs. FDM - Drawdown Comparison

The maximum ASCE drawdown since its inception was -9.22%, smaller than the maximum FDM drawdown of -63.45%. Use the drawdown chart below to compare losses from any high point for ASCE and FDM.

Drawdown Indicators

	ASCE	FDM	Difference
Max Drawdown Largest peak-to-trough decline	-9.22%	-63.45%	+54.23%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.30%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-23.47%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-23.74%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-47.76%	—
Current Drawdown Current decline from peak	-0.38%	-4.31%	+3.93%
Average Drawdown Average peak-to-trough decline	-2.10%	-11.35%	+9.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.06%	—

Volatility

Volatility by Period

	ASCE	FDM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.50%	—
Volatility (6M) Calculated over the trailing 6-month period	—	13.22%	—
Volatility (1Y) Calculated over the trailing 1-year period	19.25%	18.90%	+0.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.25%	21.39%	-2.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.25%	23.36%	-4.11%

ASCE vs. FDM - Expense Ratio Comparison

ASCE has a 0.38% expense ratio, which is lower than FDM's 0.60% expense ratio.

Dividends

ASCE vs. FDM - Dividend Comparison

ASCE's dividend yield for the trailing twelve months is around 0.18%, less than FDM's 1.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASCE Allspring SMID Core ETF	0.18%	0.22%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FDM First Trust Dow Jones Select MicroCap Index Fund	1.28%	1.43%	1.56%	1.81%	1.80%	1.08%	1.68%	1.37%	1.26%	0.97%	1.13%	1.45%

Frequently Asked Questions

Can I hold both ASCE and FDM in my portfolio?

ASCE and FDM have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ASCE or FDM?

On fees, ASCE is cheaper at 0.38% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ASCE or FDM?

ASCE is cheaper with a 0.38% expense ratio, compared with 0.60% for FDM.

Which ETF pays a higher dividend yield, ASCE or FDM?

FDM has the higher dividend yield at 1.28%, compared with 0.18% for ASCE.

What is the main difference between ASCE and FDM?

They also come from different issuers: Allspring and First Trust. Their fees differ too: 0.38% for ASCE and 0.60% for FDM.