FAB vs. NIXT
Compare and contrast key facts about First Trust Multi Cap Value AlphaDEX Fund (FAB) and Research Affiliates Deletions ETF (NIXT).
FAB and NIXT are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FAB is a passively managed fund by First Trust that tracks the performance of the NASDAQ AlphaDEX Multi Cap Value Index. It was launched on May 8, 2007. NIXT is a passively managed fund by Research Affiliates that tracks the performance of the Research Affiliates Deletions Index. It was launched on Sep 9, 2024. Both FAB and NIXT are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
FAB vs. NIXT - Performance Comparison
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FAB vs. NIXT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FAB First Trust Multi Cap Value AlphaDEX Fund | 6.46% | 9.86% | 3.30% |
NIXT Research Affiliates Deletions ETF | 4.31% | 4.94% | 4.89% |
Returns By Period
In the year-to-date period, FAB achieves a 6.46% return, which is significantly higher than NIXT's 4.31% return.
FAB
- 1D
- 1.17%
- 1M
- -2.86%
- YTD
- 6.46%
- 6M
- 9.38%
- 1Y
- 21.04%
- 3Y*
- 12.84%
- 5Y*
- 8.32%
- 10Y*
- 10.13%
NIXT
- 1D
- 3.90%
- 1M
- -3.26%
- YTD
- 4.31%
- 6M
- 6.14%
- 1Y
- 20.72%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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FAB vs. NIXT - Expense Ratio Comparison
FAB has a 0.64% expense ratio, which is higher than NIXT's 0.09% expense ratio.
Return for Risk
FAB vs. NIXT — Risk / Return Rank
FAB
NIXT
FAB vs. NIXT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Multi Cap Value AlphaDEX Fund (FAB) and Research Affiliates Deletions ETF (NIXT). 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.
| FAB | NIXT | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.06 | 0.80 | +0.26 |
Sortino ratioReturn per unit of downside risk | 1.63 | 1.30 | +0.33 |
Omega ratioGain probability vs. loss probability | 1.22 | 1.17 | +0.06 |
Calmar ratioReturn relative to maximum drawdown | 1.50 | 1.28 | +0.22 |
Martin ratioReturn relative to average drawdown | 6.49 | 4.64 | +1.85 |
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
| FAB | NIXT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.06 | 0.80 | +0.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.46 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.34 | 0.39 | -0.06 |
Correlation
The correlation between FAB and NIXT is 0.87, 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.
Dividends
FAB vs. NIXT - Dividend Comparison
FAB's dividend yield for the trailing twelve months is around 1.66%, more than NIXT's 1.53% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FAB First Trust Multi Cap Value AlphaDEX Fund | 1.66% | 1.57% | 2.00% | 1.94% | 1.80% | 1.32% | 1.59% | 1.75% | 1.96% | 1.42% | 1.40% | 1.62% |
NIXT Research Affiliates Deletions ETF | 1.53% | 1.64% | 1.39% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
FAB vs. NIXT - Drawdown Comparison
The maximum FAB drawdown since its inception was -63.29%, which is greater than NIXT's maximum drawdown of -27.75%. Use the drawdown chart below to compare losses from any high point for FAB and NIXT.
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Drawdown Indicators
| FAB | NIXT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.29% | -27.75% | -35.54% |
Max Drawdown (1Y)Largest decline over 1 year | -14.51% | -15.77% | +1.26% |
Max Drawdown (5Y)Largest decline over 5 years | -22.91% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -47.08% | — | — |
Current DrawdownCurrent decline from peak | -3.79% | -4.07% | +0.28% |
Average DrawdownAverage peak-to-trough decline | -9.33% | -6.43% | -2.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.36% | 4.36% | -1.00% |
Volatility
FAB vs. NIXT - Volatility Comparison
The current volatility for First Trust Multi Cap Value AlphaDEX Fund (FAB) is 3.80%, while Research Affiliates Deletions ETF (NIXT) has a volatility of 7.53%. This indicates that FAB experiences smaller price fluctuations and is considered to be less risky than NIXT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FAB | NIXT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.80% | 7.53% | -3.73% |
Volatility (6M)Calculated over the trailing 6-month period | 9.77% | 15.56% | -5.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.96% | 26.04% | -6.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.78% | 23.78% | -5.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.10% | 23.78% | -1.68% |