FAB vs. NIXT
FAB (First Trust Multi Cap Value AlphaDEX Fund) and NIXT (Research Affiliates Deletions ETF) are both Mid Cap Value Equities funds - FAB tracks the NASDAQ AlphaDEX Multi Cap Value Index while NIXT tracks the Research Affiliates Deletions Index. Both are passively managed. Over the past year, FAB returned 33.22% vs 42.33% for NIXT. Their correlation of 0.84 means they have usually moved in the same direction. FAB charges 0.64%/yr vs 0.09%/yr for NIXT.
Performance
FAB vs. NIXT - Performance Comparison
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Returns By Period
In the year-to-date period, FAB achieves a 20.06% return, which is significantly lower than NIXT's 29.37% return.
FAB
- 1D
- 0.86%
- 1M
- 3.54%
- 6M
- 13.45%
- YTD
- 20.06%
- 1Y
- 33.22%
- 3Y*
- 14.52%
- 5Y*
- 10.61%
- 10Y*
- 10.90%
- ALL TIME*
- 8.47%
NIXT
- 1D
- 2.41%
- 1M
- 2.99%
- 6M
- 23.66%
- YTD
- 29.37%
- 1Y
- 42.33%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 20.33%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.56M | $3.08M | $1.18M | |
| $87.68K | $73.92K | $68.31K |
FAB vs. NIXT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FAB First Trust Multi Cap Value AlphaDEX Fund | 20.06% | 9.86% | 2.66% |
NIXT Research Affiliates Deletions ETF | 29.37% | 4.94% | 4.60% |
Correlation
The correlation between FAB and NIXT is 0.80, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.80 |
Correlation (All Time) Calculated using the full available price history since Sep 10, 2024 | 0.84 |
The correlation between FAB and NIXT has been stable across timeframes, ranging from 0.80 to 0.84 - a consistent structural relationship.
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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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FAB | NIXT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.47 | ||
| Sortino ratioReturn per unit of downside risk | +0.85 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.34 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 5.02 | 3.63 | +1.39 |
| Martin ratioReturn relative to average drawdown | 16.57 | 14.20 | +2.38 |
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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 | -6.65% | -11.71% | +5.06% |
Max Drawdown (3Y)Largest decline over 3 years | -22.91% | — | — |
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 | -0.63% | 0.00% | -0.63% |
Average DrawdownAverage peak-to-trough decline | -9.18% | -5.55% | -3.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.01% | 2.99% | -0.98% |
Volatility
FAB vs. NIXT - Volatility Comparison
The current volatility for First Trust Multi Cap Value AlphaDEX Fund (FAB) is 3.84%, while Research Affiliates Deletions ETF (NIXT) has a volatility of 5.74%. 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 | 3.84% | 5.74% | -1.90% |
Volatility (6M)Calculated over the trailing 6-month period | 8.70% | 14.75% | -6.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.31% | 20.85% | -7.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.61% | 23.01% | -4.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.96% | 23.01% | -1.05% |
FAB vs. NIXT - Expense Ratio Comparison
FAB has a 0.64% expense ratio, which is higher than NIXT's 0.09% expense ratio.
Dividends
FAB vs. NIXT - Dividend Comparison
FAB's dividend yield for the trailing twelve months is around 1.51%, more than NIXT's 1.27% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FAB First Trust Multi Cap Value AlphaDEX Fund | 1.51% | 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 | 1.27% | 1.64% | 1.39% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FAB and NIXT have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NIXT has higher volatility (5.74%) compared to FAB (3.84%). In terms of maximum drawdown, FAB dropped -63.29% vs NIXT's -27.75%.
On 1-year performance, NIXT leads with 42.33% vs 33.22% for FAB. On fees, NIXT is cheaper at 0.09% per year. On volatility, FAB has been the lower-risk option at 3.84%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, NIXT has performed better with a 42.33% return vs 33.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
NIXT is cheaper with a 0.09% expense ratio, compared with 0.64% for FAB.
FAB has the higher dividend yield at 1.51%, compared with 1.27% for NIXT.
FAB tracks NASDAQ AlphaDEX Multi Cap Value Index, while NIXT tracks Research Affiliates Deletions Index. They also come from different issuers: First Trust and Alpha Architect. Their fees differ too: 0.64% for FAB and 0.09% for NIXT.
FAB currently has the higher Sharpe Ratio (2.51 vs 2.04), 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.
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