FDNI vs. MFUS

Last updated Jun 4, 2026

FDNI (First Trust Dow Jones International Internet ETF) and MFUS (PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF) are both Large Cap Growth Equities funds - FDNI tracks the Dow Jones International Internet Index while MFUS tracks the RAFI Dynamic Multi-Factor U.S. Index​. Both are passively managed. Over the past 5 years, FDNI returned -8.73%/yr vs 12.82%/yr for MFUS. At a 0.46 correlation, their price movements are largely independent. FDNI charges 0.65%/yr vs 0.30%/yr for MFUS.

Performance

FDNI vs. MFUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Dow Jones International Internet ETF (FDNI) 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, FDNI achieves a -18.16% return, which is significantly lower than MFUS's 16.37% return.

FDNI

• 1D: -3.40%
• 1M: -1.01%
• YTD: -18.16%
• 6M: -18.40%
• 1Y: -12.94%
• 3Y*: 8.13%
• 5Y*: -8.73%
• 10Y*: —

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)

FDNI vs. MFUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FDNI First Trust Dow Jones International Internet ETF	-18.16%	25.64%	22.46%	1.78%	-38.38%	-20.59%	85.27%	38.38%	-8.95%
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%	-12.66%

Correlation

The correlation between FDNI and MFUS is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.45
Correlation (All Time) Calculated using the full available price history since Nov 8, 2018	0.46

FDNI vs. MFUS - Sectors Allocation Comparison

Sectors	FDNI	MFUS
Consumer Cyclical	43.5%	10.6%
Communication Services	34.7%	5.3%
Technology	17.2%	21.8%
Financial Services	3.9%	12.6%
Real Estate	0.7%	1.8%
Healthcare	0.7%	13.5%
Basic Materials	-	2.8%
Consumer Defensive	-	10.3%
Energy	-	7.0%
Industrials	-	12.6%
Utilities	-	1.7%

Return for Risk

FDNI vs. MFUS — Risk / Return Rank

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

FDNI

FDNI Risk / Return Rank: 5
FDNI Sharpe Ratio Rank: 4
FDNI Sortino Ratio Rank: 4
FDNI Omega Ratio Rank: 4
FDNI Calmar Ratio Rank: 5
FDNI Martin Ratio Rank: 5

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.

FDNI vs. MFUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Dow Jones International Internet ETF (FDNI) 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.

	FDNI	MFUS	Difference
Sharpe ratio: Return per unit of total volatility	-0.54	2.63	-3.17
Sortino ratio: Return per unit of downside risk	-0.63	3.77	-4.40
Omega ratio: Gain probability vs. loss probability	0.93	1.47	-0.54
Calmar ratio: Return relative to maximum drawdown	-0.39	4.41	-4.80
Martin ratio: Return relative to average drawdown	-0.75	18.13	-18.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FDNI vs. MFUS - Sharpe Ratio Comparison

The current FDNI 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 FDNI 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

	FDNI	MFUS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.54	2.63	-3.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.24	0.86	-1.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.15	0.79	-0.64

Drawdowns

FDNI vs. MFUS - Drawdown Comparison

The maximum FDNI drawdown since its inception was -71.08%, which is greater than MFUS's maximum drawdown of -35.21%. Use the drawdown chart below to compare losses from any high point for FDNI and MFUS.

Drawdown Indicators

	FDNI	MFUS	Difference
Max Drawdown Largest peak-to-trough decline	-71.08%	-35.21%	-35.87%
Max Drawdown (1Y) Largest decline over 1 year	-33.22%	-6.39%	-26.83%
Max Drawdown (3Y) Largest decline over 3 years	-33.22%	-15.39%	-17.83%
Max Drawdown (5Y) Largest decline over 5 years	-65.86%	-18.22%	-47.64%
Current Drawdown Current decline from peak	-49.38%	0.00%	-49.38%
Average Drawdown Average peak-to-trough decline	-34.55%	-4.00%	-30.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	17.27%	1.55%	+15.72%

Volatility

FDNI vs. MFUS - Volatility Comparison

First Trust Dow Jones International Internet ETF (FDNI) has a higher volatility of 7.96% compared to PIMCO RAFI Dynamic Multi-Factor U.S. Equity ETF (MFUS) at 3.19%. This indicates that FDNI'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

	FDNI	MFUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.96%	3.19%	+4.77%
Volatility (6M) Calculated over the trailing 6-month period	18.80%	8.22%	+10.58%
Volatility (1Y) Calculated over the trailing 1-year period	23.95%	10.72%	+13.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.63%	15.03%	+21.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.57%	17.35%	+17.22%

FDNI vs. MFUS - Expense Ratio Comparison

FDNI has a 0.65% expense ratio, which is higher than MFUS's 0.30% expense ratio.

Dividends

FDNI vs. MFUS - Dividend Comparison

FDNI's dividend yield for the trailing twelve months is around 1.36%, which matches MFUS's 1.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDNI First Trust Dow Jones International Internet ETF	1.36%	1.12%	1.07%	0.40%	0.00%	0.00%	0.16%	3.12%	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 FDNI and MFUS in my portfolio?

FDNI and MFUS have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDNI or MFUS?

FDNI has higher volatility (7.96%) compared to MFUS (3.19%). In terms of maximum drawdown, FDNI dropped -71.08% vs MFUS's -35.21%.

Which ETF is better, FDNI or MFUS?

On 5-year performance, MFUS leads with 12.82% vs -8.73% for FDNI. 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, FDNI or MFUS?

Over the 5-year period, MFUS has performed better with a 12.82% return vs -8.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDNI or MFUS?

MFUS is cheaper with a 0.30% expense ratio, compared with 0.65% for FDNI.

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

FDNI and MFUS have nearly identical dividend yields, around 1.36%.

What is the main difference between FDNI and MFUS?

FDNI tracks Dow Jones International 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: 0.65% for FDNI 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.