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FAD vs. VOT
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FAD vs. VOT

Last updated Aug 2, 2026
Documentation

FAD (First Trust Multi Cap Growth AlphaDEX Fund) and VOT (Vanguard Mid-Cap Growth ETF) are both Mid Cap Growth Equities funds - FAD tracks the NASDAQ AlphaDEX Multi Cap Growth Index while VOT tracks the CRSP US Mid Cap Growth Index. Both are passively managed. Over the past 10 years, FAD returned 13.70%/yr vs 11.66%/yr for VOT. Their correlation of 0.87 means they have usually moved in the same direction. FAD charges 0.63%/yr vs 0.05%/yr for VOT.

Performance

FAD vs. VOT - Performance Comparison

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

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Returns By Period

In the year-to-date period, FAD achieves a 13.47% return, which is significantly higher than VOT's 6.22% return. Over the past 10 years, FAD has outperformed VOT with an annualized return of 13.70%, while VOT has yielded a comparatively lower 11.66% annualized 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%

VOT

1D
0.21%
1M
-1.91%
6M
7.03%
YTD
6.22%
1Y
4.08%
3Y*
12.46%
5Y*
4.89%
10Y*
11.66%
ALL TIME*
9.96%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. 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

VOT

Vanguard Mid-Cap Growth ETF
$53.27M$59.32M$61.74M

FAD vs. VOT - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
VOT
Vanguard Mid-Cap Growth ETF		6.22%10.72%16.38%23.10%-28.87%20.50%34.50%33.76%-5.56%21.80%

Correlation

The correlation between FAD and VOT is 0.92, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.92

Correlation (3Y)
Balances recent behavior with more history.

0.94

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.93

Correlation (10Y)
Provides a long-term view across more market conditions.

0.93

Correlation (All Time)
Calculated using the full available price history since May 11, 2007

0.87

The correlation between FAD and VOT has been stable across timeframes, ranging from 0.87 to 0.94 - a consistent structural relationship.

FAD vs. VOT - Sectors Allocation Comparison

Sectors
FAD
VOT

Technology

28.2%
33.8%

Industrials

24.4%
26.7%

Healthcare

15.9%
8.0%

Consumer Cyclical

9.9%
10.8%

Financial Services

7.6%
6.0%

Real Estate

3.8%
4.2%

Communication Services

2.8%
3.0%

Basic Materials

2.5%
1.6%

Consumer Defensive

2.1%
0.7%

Energy

1.4%
1.8%

Utilities

1.4%
2.9%

Technology

FAD
28.2%
VOT
33.8%

Industrials

FAD
24.4%
VOT
26.7%

Healthcare

FAD
15.9%
VOT
8.0%

Consumer Cyclical

FAD
9.9%
VOT
10.8%

Financial Services

FAD
7.6%
VOT
6.0%

Real Estate

FAD
3.8%
VOT
4.2%

Communication Services

FAD
2.8%
VOT
3.0%

Basic Materials

FAD
2.5%
VOT
1.6%

Consumer Defensive

FAD
2.1%
VOT
0.7%

Energy

FAD
1.4%
VOT
1.8%

Utilities

FAD
1.4%
VOT
2.9%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

First Trust Multi Cap Growth AlphaDEX Fund

Vanguard Mid-Cap Growth ETF

Often compared with FAD:
FAD vs. PEXLFAD vs. IUSGFAD vs. SPYFAD vs. XMMOFAD vs. IMCGFAD vs. XMHQFAD vs. VDIGX
Often compared with VOT:
VOT vs. VOVOT vs. VOEVOT vs. IWPVOT vs. VMGMXVOT vs. IJHVOT vs. IMCGVOT vs. FMDGX

Return for Risk

FAD vs. VOT — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
FAD
FAD Risk / Return Rank: 4949
Overall Rank
FAD Sharpe Ratio Rank: 4444
Sharpe Ratio Rank
FAD Sortino Ratio Rank: 4444
Sortino Ratio Rank
FAD Omega Ratio Rank: 4242
Omega Ratio Rank
FAD Calmar Ratio Rank: 5959
Calmar Ratio Rank
FAD Martin Ratio Rank: 5555
Martin Ratio Rank
VOT
VOT Risk / Return Rank: 1313
Overall Rank
VOT Sharpe Ratio Rank: 1414
Sharpe Ratio Rank
VOT Sortino Ratio Rank: 1313
Sortino Ratio Rank
VOT Omega Ratio Rank: 1313
Omega Ratio Rank
VOT Calmar Ratio Rank: 1313
Calmar Ratio Rank
VOT Martin Ratio Rank: 1414
Martin Ratio Rank
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. VOT - Risk-Adjusted Trends Comparison

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

FADVOTDifference
Sharpe ratioReturn per unit of total volatility
1.09
0.13

+0.97

Sortino ratioReturn per unit of downside risk
1.61
0.30

+1.31

Omega ratioGain probability vs. loss probability

1.19

1.03

+0.16

Calmar ratioReturn relative to maximum drawdown

2.10

0.14

+1.97

Martin ratioReturn relative to average drawdown

6.53

0.40

+6.14

FAD vs. VOT - Sharpe Ratio Comparison

The current FAD Sharpe Ratio is 1.09, which is higher than the VOT Sharpe Ratio of 0.13. The chart below compares the historical Sharpe Ratios of FAD and VOT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

FAD vs. VOT - Drawdown Comparison

The maximum FAD drawdown since its inception was -54.33%, smaller than the maximum VOT drawdown of -60.16%. Use the drawdown chart below to compare losses from any high point for FAD and VOT.

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Drawdown Indicators

FADVOTDifference

Max Drawdown

Largest peak-to-trough decline

-54.33%

-60.16%

+5.83%

Max Drawdown (1Y)

Largest decline over 1 year

-10.66%

-15.96%

+5.30%

Max Drawdown (3Y)

Largest decline over 3 years

-23.55%

-21.77%

-1.78%

Max Drawdown (5Y)

Largest decline over 5 years

-31.99%

-37.19%

+5.20%

Max Drawdown (10Y)

Largest decline over 10 years

-37.25%

-37.19%

-0.06%

Current Drawdown

Current decline from peak

-8.21%

-3.52%

-4.69%

Average Drawdown

Average peak-to-trough decline

-9.60%

-9.90%

+0.30%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.42%

5.42%

-2.00%

Volatility

FAD vs. VOT - Volatility Comparison

First Trust Multi Cap Growth AlphaDEX Fund (FAD) has a higher volatility of 6.04% compared to Vanguard Mid-Cap Growth ETF (VOT) at 4.19%. This indicates that FAD's price experiences larger fluctuations and is considered to be riskier than VOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FADVOTDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.04%

4.19%

+1.85%

Volatility (6M)

Calculated over the trailing 6-month period

16.39%

13.89%

+2.50%

Volatility (1Y)

Calculated over the trailing 1-year period

20.54%

17.20%

+3.34%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.87%

21.56%

-0.69%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.35%

21.02%

+0.33%

FAD vs. VOT - Expense Ratio Comparison

FAD has a 0.63% expense ratio, which is higher than VOT's 0.05% expense ratio.

Dividends

FAD vs. VOT - Dividend Comparison

FAD's dividend yield for the trailing twelve months is around 0.10%, less than VOT's 0.62% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
VOT
Vanguard Mid-Cap Growth ETF		0.62%0.64%0.67%0.71%0.78%0.34%0.56%0.78%0.84%0.72%0.81%0.81%

Frequently Asked Questions

With a correlation of 0.92, FAD and VOT move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

FAD has higher volatility (6.04%) compared to VOT (4.19%). In terms of maximum drawdown, FAD dropped -54.33% vs VOT's -60.16%.

On 10-year performance, FAD leads with 13.70% vs 11.66% for VOT. On fees, VOT is cheaper at 0.05% per year. On volatility, VOT has been the lower-risk option at 4.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, FAD has performed better with a 13.70% return vs 11.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VOT is cheaper with a 0.05% expense ratio, compared with 0.63% for FAD.

VOT has the higher dividend yield at 0.62%, compared with 0.10% for FAD.

FAD tracks NASDAQ AlphaDEX Multi Cap Growth Index, while VOT tracks CRSP US Mid Cap Growth Index. They also come from different issuers: First Trust and Vanguard. Their fees differ too: 0.63% for FAD and 0.05% for VOT.

FAD currently has the higher Sharpe Ratio (1.09 vs 0.13), 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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