FAD vs. FTXL

Last updated Aug 2, 2026

FAD (First Trust Multi Cap Growth AlphaDEX Fund) and FTXL (First Trust Nasdaq Semiconductor ETF) are both exchange-traded funds - FAD is a Mid Cap Growth Equities fund tracking the NASDAQ AlphaDEX Multi Cap Growth Index, while FTXL is a Semiconductors fund tracking the Nasdaq U.S. Smart Semiconductor Index. Both are passively managed. Over the past 5 years, FAD returned 9.39%/yr vs 26.87%/yr for FTXL. Their 0.75 correlation means they have sometimes moved together and sometimes differently. FAD charges 0.63%/yr vs 0.60%/yr for FTXL.

Performance

FAD vs. FTXL - 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 Semiconductor ETF (FTXL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FAD achieves a 13.47% return, which is significantly lower than FTXL's 67.20% return.

FAD

• 1D: -0.06%
• 1M: -4.21%
• 6M: 10.52%
• YTD: 13.47%
• 1Y: 24.70%
• 3Y*: 19.42%
• 5Y*: 9.39%
• 10Y*: 13.70%
• ALL TIME*: 10.35%

FTXL

• 1D: -0.59%
• 1M: -13.49%
• 6M: 42.44%
• YTD: 67.20%
• 1Y: 127.03%
• 3Y*: 42.82%
• 5Y*: 26.87%
• 10Y*: —
• ALL TIME*: 27.99%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FAD First Trust Multi Cap Growth AlphaDEX Fund	$3.18M	$2.71M	$2.70M
FTXL First Trust Nasdaq Semiconductor ETF	$143.42M	$100.61M	$86.48M

FAD vs. FTXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FAD First Trust Multi Cap Growth AlphaDEX Fund	13.47%	17.23%	23.85%	19.07%	-24.06%	21.17%	34.92%	26.66%	-6.45%	25.75%
FTXL First Trust Nasdaq Semiconductor ETF	67.20%	48.94%	7.59%	54.41%	-33.88%	36.04%	46.08%	61.77%	-14.47%	32.19%

Correlation

The correlation between FAD and FTXL is 0.79, 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.	0.79
Correlation (3Y) Balances recent behavior with more history.	0.73
Correlation (5Y) Shows whether the relationship held over a longer period.	0.76
Correlation (All Time) Calculated using the full available price history since Sep 21, 2016	0.75

The correlation between FAD and FTXL has been stable across timeframes, ranging from 0.73 to 0.79 - a consistent structural relationship.

FAD vs. FTXL - Sectors Allocation Comparison

Sectors	FAD	FTXL
Technology	28.2%	99.6%
Industrials	24.4%	0.4%
Healthcare	15.9%	-
Consumer Cyclical	9.9%	-
Financial Services	7.6%	-
Real Estate	3.8%	-
Communication Services	2.8%	-
Basic Materials	2.5%	-
Consumer Defensive	2.1%	-
Energy	1.4%	-
Utilities	1.4%	-

Return for Risk

FAD vs. FTXL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FAD

FAD Risk / Return Rank: 49
FAD Sharpe Ratio Rank: 44
FAD Sortino Ratio Rank: 44
FAD Omega Ratio Rank: 42
FAD Calmar Ratio Rank: 59
FAD Martin Ratio Rank: 55

FTXL

FTXL Risk / Return Rank: 91
FTXL Sharpe Ratio Rank: 95
FTXL Sortino Ratio Rank: 87
FTXL Omega Ratio Rank: 87
FTXL Calmar Ratio Rank: 90
FTXL Martin Ratio Rank: 93

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FAD vs. FTXL - 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 Semiconductor ETF (FTXL). 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.

	FAD	FTXL	Difference
Sharpe ratio: Return per unit of total volatility	1.09	2.71	-1.62
Sortino ratio: Return per unit of downside risk	1.61	2.95	-1.35
Omega ratio: Gain probability vs. loss probability	1.19	1.39	-0.20
Calmar ratio: Return relative to maximum drawdown	2.10	3.83	-1.73
Martin ratio: Return relative to average drawdown	6.53	16.62	-10.08

FAD vs. FTXL - Sharpe Ratio Comparison

The current FAD Sharpe Ratio is 1.09, which is lower than the FTXL Sharpe Ratio of 2.71. The chart below compares the historical Sharpe Ratios of FAD and FTXL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FAD vs. FTXL - Drawdown Comparison

The maximum FAD drawdown since its inception was -54.33%, which is greater than FTXL's maximum drawdown of -43.87%. Use the drawdown chart below to compare losses from any high point for FAD and FTXL.

Drawdown Indicators

	FAD	FTXL	Difference
Max Drawdown Largest peak-to-trough decline	-54.33%	-43.87%	-10.46%
Max Drawdown (1Y) Largest decline over 1 year	-10.66%	-32.64%	+21.98%
Max Drawdown (3Y) Largest decline over 3 years	-23.55%	-41.57%	+18.02%
Max Drawdown (5Y) Largest decline over 5 years	-31.99%	-43.87%	+11.88%
Max Drawdown (10Y) Largest decline over 10 years	-37.25%	—	—
Current Drawdown Current decline from peak	-8.21%	-27.09%	+18.88%
Average Drawdown Average peak-to-trough decline	-9.60%	-10.61%	+1.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.42%	7.51%	-4.09%

Volatility

FAD vs. FTXL - Volatility Comparison

The current volatility for First Trust Multi Cap Growth AlphaDEX Fund (FAD) is 6.04%, while First Trust Nasdaq Semiconductor ETF (FTXL) has a volatility of 18.94%. This indicates that FAD experiences smaller price fluctuations and is considered to be less risky than FTXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FAD	FTXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.04%	18.94%	-12.90%
Volatility (6M) Calculated over the trailing 6-month period	16.39%	39.98%	-23.59%
Volatility (1Y) Calculated over the trailing 1-year period	20.54%	46.28%	-25.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.87%	38.23%	-17.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.35%	35.28%	-13.93%

FAD vs. FTXL - Expense Ratio Comparison

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

Dividends

FAD vs. FTXL - Dividend Comparison

FAD's dividend yield for the trailing twelve months is around 0.10%, less than FTXL's 0.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAD First Trust Multi Cap Growth AlphaDEX Fund	0.10%	0.09%	0.59%	0.51%	0.60%	0.09%	0.32%	0.48%	0.20%	0.22%	0.64%	0.41%
FTXL First Trust Nasdaq Semiconductor ETF	0.11%	0.28%	0.54%	0.60%	0.89%	0.25%	0.48%	0.92%	0.71%	0.47%	0.12%	0.00%

Frequently Asked Questions

Can I hold both FAD and FTXL in my portfolio?

FAD and FTXL have a correlation of 0.79, 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 FTXL?

FTXL has higher volatility (18.94%) compared to FAD (6.04%). In terms of maximum drawdown, FAD dropped -54.33% vs FTXL's -43.87%.

Which ETF is better, FAD or FTXL?

On 5-year performance, FTXL leads with 26.87% vs 9.39% for FAD. On fees, FTXL is cheaper at 0.60% per year. On volatility, FAD has been the lower-risk option at 6.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FAD or FTXL?

Over the 5-year period, FTXL has performed better with a 26.87% return vs 9.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FAD or FTXL?

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

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

FTXL has the higher dividend yield at 0.11%, compared with 0.10% for FAD.

What is the main difference between FAD and FTXL?

FAD is categorized as Mid Cap Growth Equities, while FTXL is Semiconductors. FAD tracks NASDAQ AlphaDEX Multi Cap Growth Index, while FTXL tracks Nasdaq U.S. Smart Semiconductor Index. Their fees differ too: 0.63% for FAD and 0.60% for FTXL.

Which has better risk-adjusted returns?

FTXL currently has the higher Sharpe Ratio (2.71 vs 1.09), 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.