FDM vs. JMCRX

Last updated Aug 2, 2026

FDM (First Trust Dow Jones Select MicroCap Index Fund) and JMCRX (James Micro Cap Fund) are both funds - FDM is a Small Cap Blend Equities fund tracking the Dow Jones Select Microcap Index, while JMCRX is a Small Cap Value Equities fund managed by James Advantage. Over the past 10 years, FDM returned 11.77%/yr vs 9.14%/yr for JMCRX. Their correlation of 0.88 means they have usually moved in the same direction. FDM charges 0.60%/yr vs 1.51%/yr for JMCRX.

Performance

FDM vs. JMCRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Dow Jones Select MicroCap Index Fund (FDM) and James Micro Cap Fund (JMCRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDM achieves a 15.65% return, which is significantly lower than JMCRX's 20.14% return. Over the past 10 years, FDM has outperformed JMCRX with an annualized return of 11.77%, while JMCRX has yielded a comparatively lower 9.14% annualized return.

FDM

• 1D: -0.28%
• 1M: -1.12%
• 6M: 9.59%
• YTD: 15.65%
• 1Y: 34.43%
• 3Y*: 16.71%
• 5Y*: 10.85%
• 10Y*: 11.77%
• ALL TIME*: 8.82%

JMCRX

• 1D: 0.98%
• 1M: 1.52%
• 6M: 12.44%
• YTD: 20.14%
• 1Y: 32.55%
• 3Y*: 13.48%
• 5Y*: 10.47%
• 10Y*: 9.14%
• ALL TIME*: 10.31%

*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)
FDM First Trust Dow Jones Select MicroCap Index Fund	$791.30K	$957.71K	$769.46K
JMCRX James Micro Cap Fund	$0.00	$0.00	$0.00

FDM vs. JMCRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDM First Trust Dow Jones Select MicroCap Index Fund	15.65%	18.64%	13.00%	12.76%	-11.61%	35.08%	-4.04%	27.45%	-13.53%	8.72%
JMCRX James Micro Cap Fund	20.14%	4.37%	5.95%	31.72%	-17.33%	36.27%	-4.21%	30.55%	-16.62%	2.88%

Correlation

The correlation between FDM and JMCRX is 0.81, 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.	0.81
Correlation (3Y) Balances recent behavior with more history.	0.86
Correlation (5Y) Shows whether the relationship held over a longer period.	0.89
Correlation (10Y) Provides a long-term view across more market conditions.	0.89
Correlation (All Time) Calculated using the full available price history since Jul 7, 2010	0.88

The correlation between FDM and JMCRX has been stable across timeframes, ranging from 0.81 to 0.89 - a consistent structural relationship.

Return for Risk

FDM vs. JMCRX — Risk / Return Rank

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

FDM

FDM Risk / Return Rank: 77
FDM Sharpe Ratio Rank: 74
FDM Sortino Ratio Rank: 76
FDM Omega Ratio Rank: 70
FDM Calmar Ratio Rank: 86
FDM Martin Ratio Rank: 80

JMCRX

JMCRX Risk / Return Rank: 68
JMCRX Sharpe Ratio Rank: 64
JMCRX Sortino Ratio Rank: 69
JMCRX Omega Ratio Rank: 57
JMCRX Calmar Ratio Rank: 84
JMCRX Martin Ratio Rank: 64

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.

FDM vs. JMCRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Dow Jones Select MicroCap Index Fund (FDM) and James Micro Cap Fund (JMCRX). 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.

	FDM	JMCRX	Difference
Sharpe ratio: Return per unit of total volatility	1.67	1.53	+0.13
Sortino ratio: Return per unit of downside risk	2.44	2.35	+0.09
Omega ratio: Gain probability vs. loss probability	1.29	1.26	+0.03
Calmar ratio: Return relative to maximum drawdown	3.31	2.85	+0.46
Martin ratio: Return relative to average drawdown	10.43	8.15	+2.29

FDM vs. JMCRX - Sharpe Ratio Comparison

The current FDM Sharpe Ratio is 1.67, which is comparable to the JMCRX Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of FDM and JMCRX, 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

FDM vs. JMCRX - Drawdown Comparison

The maximum FDM drawdown since its inception was -63.45%, which is greater than JMCRX's maximum drawdown of -46.65%. Use the drawdown chart below to compare losses from any high point for FDM and JMCRX.

Drawdown Indicators

	FDM	JMCRX	Difference
Max Drawdown Largest peak-to-trough decline	-63.45%	-46.65%	-16.80%
Max Drawdown (1Y) Largest decline over 1 year	-9.30%	-9.92%	+0.62%
Max Drawdown (3Y) Largest decline over 3 years	-23.47%	-26.90%	+3.43%
Max Drawdown (5Y) Largest decline over 5 years	-23.74%	-26.90%	+3.16%
Max Drawdown (10Y) Largest decline over 10 years	-47.76%	-46.65%	-1.11%
Current Drawdown Current decline from peak	-2.48%	-0.78%	-1.70%
Average Drawdown Average peak-to-trough decline	-11.27%	-7.36%	-3.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.95%	3.47%	-0.52%

Volatility

FDM vs. JMCRX - Volatility Comparison

The current volatility for First Trust Dow Jones Select MicroCap Index Fund (FDM) is 3.90%, while James Micro Cap Fund (JMCRX) has a volatility of 4.26%. This indicates that FDM experiences smaller price fluctuations and is considered to be less risky than JMCRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDM	JMCRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.90%	4.26%	-0.36%
Volatility (6M) Calculated over the trailing 6-month period	12.43%	12.79%	-0.36%
Volatility (1Y) Calculated over the trailing 1-year period	18.49%	18.47%	+0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.24%	20.76%	+0.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.33%	21.69%	+1.64%

FDM vs. JMCRX - Expense Ratio Comparison

FDM has a 0.60% expense ratio, which is lower than JMCRX's 1.51% expense ratio.

Dividends

FDM vs. JMCRX - Dividend Comparison

FDM's dividend yield for the trailing twelve months is around 1.37%, more than JMCRX's 0.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDM First Trust Dow Jones Select MicroCap Index Fund	1.37%	1.43%	1.56%	1.81%	1.80%	1.08%	1.68%	1.37%	1.26%	0.97%	1.13%	1.45%
JMCRX James Micro Cap Fund	0.85%	1.02%	1.43%	0.63%	9.14%	3.84%	0.53%	6.35%	6.71%	7.80%	0.00%	0.09%

Frequently Asked Questions

Can I hold both FDM and JMCRX in my portfolio?

FDM and JMCRX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDM or JMCRX?

JMCRX has higher volatility (4.26%) compared to FDM (3.90%). In terms of maximum drawdown, FDM dropped -63.45% vs JMCRX's -46.65%.

Which has better risk-adjusted returns?

FDM currently has the higher Sharpe Ratio (1.67 vs 1.53), 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.