FDN vs. MFUS

Last updated Jun 4, 2026

FDN (First Trust Dow Jones Internet Index) and MFUS (PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF) are both Large Cap Growth Equities funds - FDN tracks the Dow Jones Internet Index while MFUS tracks the RAFI Dynamic Multi-Factor U.S. Index​. Both are passively managed. Over the past 5 years, FDN returned 4.24%/yr vs 12.82%/yr for MFUS. A 0.64 correlation means they provide meaningful diversification when combined. FDN charges 0.52%/yr vs 0.30%/yr for MFUS.

Performance

FDN vs. MFUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Dow Jones Internet Index (FDN) and PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDN achieves a 4.18% return, which is significantly lower than MFUS's 16.37% return.

FDN

• 1D: -1.90%
• 1M: 4.74%
• YTD: 4.18%
• 6M: 3.26%
• 1Y: 10.29%
• 3Y*: 20.67%
• 5Y*: 4.24%
• 10Y*: 14.37%

MFUS

• 1D: 0.03%
• 1M: 5.72%
• YTD: 16.37%
• 6M: 16.58%
• 1Y: 28.04%
• 3Y*: 22.25%
• 5Y*: 12.82%
• 10Y*: —

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

FDN vs. MFUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDN First Trust Dow Jones Internet Index	4.18%	10.70%	30.35%	51.48%	-45.54%	6.55%	52.55%	19.25%	6.17%	10.01%
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF	16.37%	16.02%	20.17%	12.19%	-5.82%	24.10%	10.64%	26.17%	-7.30%	11.20%

Correlation

The correlation between FDN and MFUS is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (All Time) Calculated using the full available price history since Sep 7, 2017	0.64

The correlation between FDN and MFUS shifts across timeframes, from 0.47 (1 year) to 0.64 (all time), reflecting how their relationship changes across market environments.

FDN vs. MFUS - Sectors Allocation Comparison

Sectors	FDN	MFUS
Technology	37.7%	21.8%
Communication Services	29.7%	5.3%
Consumer Cyclical	27.7%	10.6%
Financial Services	2.4%	12.6%
Industrials	1.4%	12.6%
Healthcare	1.1%	13.5%
Basic Materials	-	2.8%
Consumer Defensive	-	10.3%
Energy	-	7.0%
Real Estate	-	1.8%
Utilities	-	1.7%

Return for Risk

FDN vs. MFUS — Risk / Return Rank

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

FDN

FDN Risk / Return Rank: 16
FDN Sharpe Ratio Rank: 17
FDN Sortino Ratio Rank: 16
FDN Omega Ratio Rank: 17
FDN Calmar Ratio Rank: 15
FDN Martin Ratio Rank: 14

MFUS

MFUS Risk / Return Rank: 82
MFUS Sharpe Ratio Rank: 80
MFUS Sortino Ratio Rank: 83
MFUS Omega Ratio Rank: 78
MFUS Calmar Ratio Rank: 83
MFUS Martin Ratio Rank: 86

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.

FDN vs. MFUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Dow Jones Internet Index (FDN) and PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS). 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.

	FDN	MFUS	Difference
Sharpe ratio: Return per unit of total volatility	0.54	2.63	-2.09
Sortino ratio: Return per unit of downside risk	0.84	3.77	-2.93
Omega ratio: Gain probability vs. loss probability	1.10	1.47	-0.37
Calmar ratio: Return relative to maximum drawdown	0.49	4.41	-3.93
Martin ratio: Return relative to average drawdown	1.24	18.13	-16.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FDN vs. MFUS - Sharpe Ratio Comparison

The current FDN Sharpe Ratio is 0.54, which is lower than the MFUS Sharpe Ratio of 2.63. The chart below compares the historical Sharpe Ratios of FDN and MFUS, 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

	FDN	MFUS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.54	2.63	-2.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.16	0.86	-0.70
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.79	-0.24

Drawdowns

FDN vs. MFUS - Drawdown Comparison

The maximum FDN drawdown since its inception was -61.55%, which is greater than MFUS's maximum drawdown of -35.21%. Use the drawdown chart below to compare losses from any high point for FDN and MFUS.

Drawdown Indicators

	FDN	MFUS	Difference
Max Drawdown Largest peak-to-trough decline	-61.55%	-35.21%	-26.34%
Max Drawdown (1Y) Largest decline over 1 year	-21.31%	-6.39%	-14.92%
Max Drawdown (3Y) Largest decline over 3 years	-24.98%	-15.39%	-9.59%
Max Drawdown (5Y) Largest decline over 5 years	-53.97%	-18.22%	-35.75%
Max Drawdown (10Y) Largest decline over 10 years	-53.97%	—	—
Current Drawdown Current decline from peak	-3.22%	0.00%	-3.22%
Average Drawdown Average peak-to-trough decline	-11.82%	-4.00%	-7.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.35%	1.55%	+6.80%

Volatility

FDN vs. MFUS - Volatility Comparison

First Trust Dow Jones Internet Index (FDN) has a higher volatility of 5.14% compared to PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) at 3.19%. This indicates that FDN's price experiences larger fluctuations and is considered to be riskier than MFUS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDN	MFUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.14%	3.19%	+1.95%
Volatility (6M) Calculated over the trailing 6-month period	14.44%	8.22%	+6.22%
Volatility (1Y) Calculated over the trailing 1-year period	19.04%	10.72%	+8.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.25%	15.03%	+12.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.60%	17.35%	+8.25%

FDN vs. MFUS - Expense Ratio Comparison

FDN has a 0.52% expense ratio, which is higher than MFUS's 0.30% expense ratio.

Dividends

FDN vs. MFUS - Dividend Comparison

FDN has not paid dividends to shareholders, while MFUS's dividend yield for the trailing twelve months is around 1.36%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDN First Trust Dow Jones Internet Index	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MFUS PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF	1.36%	1.54%	1.45%	1.96%	2.07%	1.35%	1.72%	1.89%	1.69%	1.01%

Frequently Asked Questions

Can I hold both FDN and MFUS in my portfolio?

FDN and MFUS have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDN or MFUS?

FDN has higher volatility (5.14%) compared to MFUS (3.19%). In terms of maximum drawdown, FDN dropped -61.55% vs MFUS's -35.21%.

Which ETF is better, FDN or MFUS?

On 5-year performance, MFUS leads with 12.82% vs 4.24% for FDN. On fees, MFUS is cheaper at 0.30% per year. On volatility, MFUS has been the lower-risk option at 3.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDN or MFUS?

Over the 5-year period, MFUS has performed better with a 12.82% return vs 4.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDN or MFUS?

MFUS is cheaper with a 0.30% expense ratio, compared with 0.52% for FDN.

Which ETF pays a higher dividend yield, FDN or MFUS?

MFUS has the higher dividend yield at 1.36%, compared with 0.00% for FDN.

What is the main difference between FDN and MFUS?

FDN tracks Dow Jones Internet Index, while MFUS tracks RAFI Dynamic Multi-Factor U.S. Index​. They also come from different issuers: First Trust and PIMCO. Their fees differ too: 0.52% for FDN and 0.30% for MFUS.

Which has better risk-adjusted returns?

MFUS currently has the higher Sharpe Ratio (2.63 vs 0.54), 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.