FAD vs. CIBR

Last updated Jun 4, 2026

FAD (First Trust Multi Cap Growth AlphaDEX Fund) and CIBR (First Trust NASDAQ Cybersecurity ETF) are both exchange-traded funds - FAD is a Mid Cap Growth Equities fund tracking the NASDAQ AlphaDEX Multi Cap Growth Index, while CIBR is a Technology Equities fund tracking the Nasdaq CTA Cybersecurity Index. Both are passively managed. Over the past 10 years, FAD returned 14.53%/yr vs 18.49%/yr for CIBR. A 0.78 correlation means they provide meaningful diversification when combined. FAD charges 0.63%/yr vs 0.60%/yr for CIBR.

Performance

FAD vs. CIBR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Multi Cap Growth AlphaDEX Fund (FAD) and First Trust NASDAQ Cybersecurity ETF (CIBR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FAD achieves a 17.25% return, which is significantly lower than CIBR's 28.52% return. Over the past 10 years, FAD has underperformed CIBR with an annualized return of 14.53%, while CIBR has yielded a comparatively higher 18.49% annualized return.

FAD

• 1D: -0.15%
• 1M: 6.70%
• YTD: 17.25%
• 6M: 17.16%
• 1Y: 34.52%
• 3Y*: 24.16%
• 5Y*: 11.25%
• 10Y*: 14.53%

CIBR

• 1D: -2.81%
• 1M: 31.43%
• YTD: 28.52%
• 6M: 24.03%
• 1Y: 25.78%
• 3Y*: 28.32%
• 5Y*: 16.28%
• 10Y*: 18.49%

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

FAD vs. CIBR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FAD First Trust Multi Cap Growth AlphaDEX Fund	17.25%	17.23%	23.85%	19.07%	-24.06%	21.17%	34.92%	26.66%	-6.45%	25.75%
CIBR First Trust NASDAQ Cybersecurity ETF	28.52%	13.06%	18.21%	39.71%	-26.46%	19.67%	50.53%	28.52%	1.47%	18.61%

Correlation

The correlation between FAD and CIBR is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (10Y) Calculated over the trailing 10-year period	0.78
Correlation (All Time) Calculated using the full available price history since Jul 8, 2015	0.78

Over the past year, the correlation between FAD and CIBR has dropped to 0.53 - well below their long-term average of 0.78, suggesting their price drivers have been diverging.

FAD vs. CIBR - Sectors Allocation Comparison

Sectors	FAD	CIBR
Industrials	26.1%	3.5%
Technology	24.1%	94.0%
Healthcare	15.4%	-
Consumer Cyclical	10.8%	-
Financial Services	8.0%	-
Real Estate	4.1%	-
Communication Services	3.1%	2.6%
Basic Materials	3.0%	-
Consumer Defensive	2.4%	-
Energy	1.6%	-
Utilities	1.6%	-

Return for Risk

FAD vs. CIBR — Risk / Return Rank

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

FAD

FAD Risk / Return Rank: 59
FAD Sharpe Ratio Rank: 55
FAD Sortino Ratio Rank: 53
FAD Omega Ratio Rank: 51
FAD Calmar Ratio Rank: 66
FAD Martin Ratio Rank: 68

CIBR

CIBR Risk / Return Rank: 26
CIBR Sharpe Ratio Rank: 29
CIBR Sortino Ratio Rank: 28
CIBR Omega Ratio Rank: 29
CIBR Calmar Ratio Rank: 24
CIBR Martin Ratio Rank: 22

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.

FAD vs. CIBR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Multi Cap Growth AlphaDEX Fund (FAD) and First Trust NASDAQ Cybersecurity ETF (CIBR). 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.

	FAD	CIBR	Difference
Sharpe ratio: Return per unit of total volatility	1.88	1.06	+0.82
Sortino ratio: Return per unit of downside risk	2.59	1.56	+1.03
Omega ratio: Gain probability vs. loss probability	1.32	1.20	+0.12
Calmar ratio: Return relative to maximum drawdown	3.25	1.18	+2.07
Martin ratio: Return relative to average drawdown	12.54	2.79	+9.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FAD vs. CIBR - Sharpe Ratio Comparison

The current FAD Sharpe Ratio is 1.88, which is higher than the CIBR Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of FAD and CIBR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FAD	CIBR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.88	1.06	+0.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	0.66	-0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	0.79	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.67	-0.16

Drawdowns

FAD vs. CIBR - Drawdown Comparison

The maximum FAD drawdown since its inception was -54.33%, which is greater than CIBR's maximum drawdown of -33.89%. Use the drawdown chart below to compare losses from any high point for FAD and CIBR.

Drawdown Indicators

	FAD	CIBR	Difference
Max Drawdown Largest peak-to-trough decline	-54.33%	-33.89%	-20.44%
Max Drawdown (1Y) Largest decline over 1 year	-10.66%	-21.99%	+11.33%
Max Drawdown (3Y) Largest decline over 3 years	-23.55%	-21.99%	-1.56%
Max Drawdown (5Y) Largest decline over 5 years	-31.99%	-33.89%	+1.90%
Max Drawdown (10Y) Largest decline over 10 years	-37.25%	-33.89%	-3.36%
Current Drawdown Current decline from peak	-0.15%	-2.81%	+2.66%
Average Drawdown Average peak-to-trough decline	-9.64%	-8.66%	-0.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.76%	9.25%	-6.49%

Volatility

FAD vs. CIBR - Volatility Comparison

The current volatility for First Trust Multi Cap Growth AlphaDEX Fund (FAD) is 6.01%, while First Trust NASDAQ Cybersecurity ETF (CIBR) has a volatility of 10.90%. This indicates that FAD experiences smaller price fluctuations and is considered to be less risky than CIBR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FAD	CIBR	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.01%	10.90%	-4.89%
Volatility (6M) Calculated over the trailing 6-month period	14.14%	20.90%	-6.76%
Volatility (1Y) Calculated over the trailing 1-year period	18.50%	24.50%	-6.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.53%	24.95%	-4.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.18%	23.60%	-2.42%

FAD vs. CIBR - Expense Ratio Comparison

FAD has a 0.63% expense ratio, which is higher than CIBR's 0.60% expense ratio.

Dividends

FAD vs. CIBR - Dividend Comparison

FAD's dividend yield for the trailing twelve months is around 0.09%, less than CIBR's 0.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CIBR First Trust NASDAQ Cybersecurity ETF	0.45%	0.42%	0.29%	0.42%	0.31%	0.59%	1.10%	0.23%	0.23%	0.10%	0.77%	0.58%
FAD First Trust Multi Cap Growth AlphaDEX Fund	0.09%	0.09%	0.59%	0.51%	0.60%	0.09%	0.32%	0.48%	0.20%	0.22%	0.64%	0.41%

Frequently Asked Questions

Can I hold both FAD and CIBR in my portfolio?

FAD and CIBR have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FAD or CIBR?

CIBR has higher volatility (10.90%) compared to FAD (6.01%). In terms of maximum drawdown, FAD dropped -54.33% vs CIBR's -33.89%.

Which ETF is better, FAD or CIBR?

On 10-year performance, CIBR leads with 18.49% vs 14.53% for FAD. On fees, CIBR is cheaper at 0.60% per year. On volatility, FAD has been the lower-risk option at 6.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FAD or CIBR?

Over the 10-year period, CIBR has performed better with a 18.49% return vs 14.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FAD or CIBR?

CIBR is cheaper with a 0.60% expense ratio, compared with 0.63% for FAD.

Which ETF pays a higher dividend yield, FAD or CIBR?

CIBR has the higher dividend yield at 0.45%, compared with 0.09% for FAD.

What is the main difference between FAD and CIBR?

FAD is categorized as Mid Cap Growth Equities, while CIBR is Technology Equities. FAD tracks NASDAQ AlphaDEX Multi Cap Growth Index, while CIBR tracks Nasdaq CTA Cybersecurity Index. Their fees differ too: 0.63% for FAD and 0.60% for CIBR.

Which has better risk-adjusted returns?

FAD currently has the higher Sharpe Ratio (1.88 vs 1.06), 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.