FNK vs. ISCMF
FNK (First Trust Mid Cap Value AlphaDEX Fund) and ISCMF (iShares Diversified Commodity Swap UCITS ETF) are both exchange-traded funds - FNK is a Small Cap Value Equities fund tracking the NASDAQ AlphaDEX Mid Cap Value Index, while ISCMF is a Commodities fund tracking the Bloomberg Commodity Index. Both are passively managed. Over the past 3 years, FNK returned 13.38%/yr vs 16.78%/yr for ISCMF. At a correlation of -0.03, they often move in opposite directions. FNK charges 0.70%/yr vs 0.19%/yr for ISCMF.
Performance
FNK vs. ISCMF - Performance Comparison
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Returns By Period
In the year-to-date period, FNK achieves a 9.10% return, which is significantly lower than ISCMF's 22.87% return.
FNK
- 1D
- 0.42%
- 1M
- 1.97%
- YTD
- 9.10%
- 6M
- 8.06%
- 1Y
- 20.05%
- 3Y*
- 13.38%
- 5Y*
- 8.07%
- 10Y*
- 9.93%
ISCMF
- 1D
- 0.00%
- 1M
- -4.99%
- YTD
- 22.87%
- 6M
- 22.87%
- 1Y
- 31.30%
- 3Y*
- 16.78%
- 5Y*
- —
- 10Y*
- —
FNK vs. ISCMF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FNK First Trust Mid Cap Value AlphaDEX Fund | 9.10% | 5.65% | 6.65% | 21.03% | -5.47% |
ISCMF iShares Diversified Commodity Swap UCITS ETF | 22.87% | 19.65% | 3.13% | -9.58% | -5.82% |
Correlation
The correlation between FNK and ISCMF is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Mar 17, 2022 | -0.03 |
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Return for Risk
FNK vs. ISCMF — Risk / Return Rank
FNK
ISCMF
FNK vs. ISCMF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Mid Cap Value AlphaDEX Fund (FNK) and iShares Diversified Commodity Swap UCITS ETF (ISCMF). 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.
| FNK | ISCMF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -1.13 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 2.31 | -1.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.21 | 5.53 | -3.32 |
| Martin ratioReturn relative to average drawdown | 6.37 | 11.85 | -5.48 |
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Drawdowns
FNK vs. ISCMF - Drawdown Comparison
The maximum FNK drawdown since its inception was -50.70%, which is greater than ISCMF's maximum drawdown of -25.42%. Use the drawdown chart below to compare losses from any high point for FNK and ISCMF.
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Drawdown Indicators
| FNK | ISCMF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.70% | -25.42% | -25.28% |
Max Drawdown (1Y)Largest decline over 1 year | -9.13% | -5.69% | -3.44% |
Max Drawdown (3Y)Largest decline over 3 years | -25.16% | -7.62% | -17.54% |
Max Drawdown (5Y)Largest decline over 5 years | -25.16% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -50.70% | — | — |
Current DrawdownCurrent decline from peak | -1.61% | -5.26% | +3.65% |
Average DrawdownAverage peak-to-trough decline | -6.82% | -13.35% | +6.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.16% | 2.65% | +0.51% |
Volatility
FNK vs. ISCMF - Volatility Comparison
The current volatility for First Trust Mid Cap Value AlphaDEX Fund (FNK) is 3.37%, while iShares Diversified Commodity Swap UCITS ETF (ISCMF) has a volatility of 5.11%. This indicates that FNK experiences smaller price fluctuations and is considered to be less risky than ISCMF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FNK | ISCMF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.37% | 5.11% | -1.74% |
Volatility (6M)Calculated over the trailing 6-month period | 9.68% | 15.45% | -5.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.27% | 17.84% | -2.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.00% | 14.29% | +6.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.83% | 14.29% | +9.54% |
FNK vs. ISCMF - Expense Ratio Comparison
FNK has a 0.70% expense ratio, which is higher than ISCMF's 0.19% expense ratio.
Dividends
FNK vs. ISCMF - Dividend Comparison
FNK's dividend yield for the trailing twelve months is around 1.54%, while ISCMF has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FNK First Trust Mid Cap Value AlphaDEX Fund | 1.54% | 1.53% | 1.63% | 1.76% | 1.66% | 1.27% | 1.61% | 1.82% | 1.76% | 1.40% | 1.38% | 1.45% |
ISCMF iShares Diversified Commodity Swap UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FNK and ISCMF have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ISCMF has higher volatility (5.11%) compared to FNK (3.37%). In terms of maximum drawdown, FNK dropped -50.70% vs ISCMF's -25.42%.
On 3-year performance, ISCMF leads with 16.78% vs 13.38% for FNK. On fees, ISCMF is cheaper at 0.19% per year. On volatility, FNK has been the lower-risk option at 3.37%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, ISCMF has performed better with a 16.78% return vs 13.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ISCMF is cheaper with a 0.19% expense ratio, compared with 0.70% for FNK.
FNK has the higher dividend yield at 1.54%, compared with 0.00% for ISCMF.
FNK is categorized as Small Cap Value Equities, while ISCMF is Commodities. FNK tracks NASDAQ AlphaDEX Mid Cap Value Index, while ISCMF tracks Bloomberg Commodity Index. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.70% for FNK and 0.19% for ISCMF.
ISCMF currently has the higher Sharpe Ratio (1.76 vs 1.32), 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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