FNK vs. ROBT

Last updated Jul 14, 2026

FNK (First Trust Mid Cap Value AlphaDEX Fund) and ROBT (First Trust Nasdaq Artificial Intelligence & Robotics ETF) are both exchange-traded funds - FNK is a Small Cap Value Equities fund tracking the NASDAQ AlphaDEX Mid Cap Value Index, while ROBT is a Technology Equities fund tracking the Nasdaq CTA Artificial Intelligence and Robotics Index. Both are passively managed. Over the past 5 years, FNK returned 8.79%/yr vs 1.15%/yr for ROBT. A 0.66 correlation means they provide meaningful diversification when combined. FNK charges 0.70%/yr vs 0.65%/yr for ROBT.

Performance

FNK vs. ROBT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Mid Cap Value AlphaDEX Fund (FNK) and First Trust Nasdaq Artificial Intelligence & Robotics ETF (ROBT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNK achieves a 11.60% return, which is significantly higher than ROBT's 7.05% return.

FNK

• 1D: 0.74%
• 1M: 0.65%
• 6M: 6.93%
• YTD: 11.60%
• 1Y: 16.28%
• 3Y*: 11.51%
• 5Y*: 8.79%
• 10Y*: 9.55%

ROBT

• 1D: -1.18%
• 1M: 0.70%
• 6M: -0.40%
• YTD: 7.05%
• 1Y: 14.74%
• 3Y*: 6.32%
• 5Y*: 1.15%
• 10Y*: —

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

FNK vs. ROBT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FNK First Trust Mid Cap Value AlphaDEX Fund	11.60%	5.65%	6.65%	21.03%	-7.24%	33.60%	1.23%	20.56%	-11.73%
ROBT First Trust Nasdaq Artificial Intelligence & Robotics ETF	7.05%	15.16%	-0.41%	27.77%	-34.94%	9.91%	46.18%	34.28%	-14.66%

Correlation

The correlation between FNK and ROBT is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (All Time) Calculated using the full available price history since Feb 22, 2018	0.66

The correlation between FNK and ROBT shifts across timeframes, from 0.48 (1 year) to 0.69 (5 years), reflecting how their relationship changes across market environments.

FNK vs. ROBT - Sectors Allocation Comparison

Sectors	FNK	ROBT
Financial Services	25.8%	1.5%
Consumer Cyclical	20.3%	6.4%
Industrials	10.7%	20.1%
Energy	9.3%	1.3%
Real Estate	9.0%	-
Technology	7.7%	58.6%
Utilities	4.3%	-
Healthcare	3.9%	6.9%
Basic Materials	3.8%	-
Consumer Defensive	3.7%	1.3%
Communication Services	1.4%	3.8%

Return for Risk

FNK vs. ROBT — Risk / Return Rank

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

FNK

FNK Risk / Return Rank: 40
FNK Sharpe Ratio Rank: 38
FNK Sortino Ratio Rank: 41
FNK Omega Ratio Rank: 37
FNK Calmar Ratio Rank: 44
FNK Martin Ratio Rank: 41

ROBT

ROBT Risk / Return Rank: 20
ROBT Sharpe Ratio Rank: 21
ROBT Sortino Ratio Rank: 21
ROBT Omega Ratio Rank: 20
ROBT Calmar Ratio Rank: 20
ROBT Martin Ratio Rank: 20

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.

FNK vs. ROBT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Mid Cap Value AlphaDEX Fund (FNK) and First Trust Nasdaq Artificial Intelligence & Robotics ETF (ROBT). 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	ROBT	Difference
Sharpe ratio: Return per unit of total volatility	1.10	0.60	+0.50
Sortino ratio: Return per unit of downside risk	1.72	0.96	+0.76
Omega ratio: Gain probability vs. loss probability	1.20	1.11	+0.09
Calmar ratio: Return relative to maximum drawdown	1.79	0.68	+1.11
Martin ratio: Return relative to average drawdown	5.19	1.86	+3.34

FNK vs. ROBT - Sharpe Ratio Comparison

The current FNK Sharpe Ratio is 1.10, which is higher than the ROBT Sharpe Ratio of 0.60. The chart below compares the historical Sharpe Ratios of FNK and ROBT, 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

FNK vs. ROBT - Drawdown Comparison

The maximum FNK drawdown since its inception was -50.70%, which is greater than ROBT's maximum drawdown of -44.47%. Use the drawdown chart below to compare losses from any high point for FNK and ROBT.

Drawdown Indicators

	FNK	ROBT	Difference
Max Drawdown Largest peak-to-trough decline	-50.70%	-44.47%	-6.23%
Max Drawdown (1Y) Largest decline over 1 year	-9.13%	-21.66%	+12.53%
Max Drawdown (3Y) Largest decline over 3 years	-25.16%	-27.68%	+2.52%
Max Drawdown (5Y) Largest decline over 5 years	-25.16%	-43.26%	+18.10%
Max Drawdown (10Y) Largest decline over 10 years	-50.70%	—	—
Current Drawdown Current decline from peak	-0.19%	-7.89%	+7.70%
Average Drawdown Average peak-to-trough decline	-6.80%	-15.86%	+9.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.15%	7.96%	-4.81%

Volatility

FNK vs. ROBT - Volatility Comparison

The current volatility for First Trust Mid Cap Value AlphaDEX Fund (FNK) is 3.62%, while First Trust Nasdaq Artificial Intelligence & Robotics ETF (ROBT) has a volatility of 7.36%. This indicates that FNK experiences smaller price fluctuations and is considered to be less risky than ROBT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNK	ROBT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.62%	7.36%	-3.74%
Volatility (6M) Calculated over the trailing 6-month period	9.47%	19.44%	-9.97%
Volatility (1Y) Calculated over the trailing 1-year period	14.96%	24.94%	-9.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.93%	25.54%	-4.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.75%	25.57%	-1.82%

FNK vs. ROBT - Expense Ratio Comparison

FNK has a 0.70% expense ratio, which is higher than ROBT's 0.65% expense ratio.

Dividends

FNK vs. ROBT - Dividend Comparison

FNK's dividend yield for the trailing twelve months is around 1.47%, more than ROBT's 0.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNK First Trust Mid Cap Value AlphaDEX Fund	1.47%	1.53%	1.63%	1.76%	1.66%	1.27%	1.61%	1.82%	1.76%	1.40%	1.38%	1.45%
ROBT First Trust Nasdaq Artificial Intelligence & Robotics ETF	0.02%	0.00%	0.68%	0.23%	0.35%	0.06%	0.17%	0.42%	0.44%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FNK and ROBT in my portfolio?

FNK and ROBT have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FNK or ROBT?

ROBT has higher volatility (7.36%) compared to FNK (3.62%). In terms of maximum drawdown, FNK dropped -50.70% vs ROBT's -44.47%.

Which ETF is better, FNK or ROBT?

On 5-year performance, FNK leads with 8.79% vs 1.15% for ROBT. On fees, ROBT is cheaper at 0.65% per year. On volatility, FNK has been the lower-risk option at 3.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FNK or ROBT?

Over the 5-year period, FNK has performed better with a 8.79% return vs 1.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FNK or ROBT?

ROBT is cheaper with a 0.65% expense ratio, compared with 0.70% for FNK.

Which ETF pays a higher dividend yield, FNK or ROBT?

FNK has the higher dividend yield at 1.47%, compared with 0.02% for ROBT.

What is the main difference between FNK and ROBT?

FNK is categorized as Small Cap Value Equities, while ROBT is Technology Equities. FNK tracks NASDAQ AlphaDEX Mid Cap Value Index, while ROBT tracks Nasdaq CTA Artificial Intelligence and Robotics Index. Their fees differ too: 0.70% for FNK and 0.65% for ROBT.

Which has better risk-adjusted returns?

FNK currently has the higher Sharpe Ratio (1.09 vs 0.59), 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.