FNK vs. TSCV

Last updated Jun 4, 2026

FNK (First Trust Mid Cap Value AlphaDEX Fund) and TSCV (Thrivent Small Cap Value ETF) are both Small Cap Value Equities funds. FNK is passively managed, while TSCV is actively managed. Their correlation of 0.91 suggests significant overlap in exposure. FNK charges 0.70%/yr vs 0.60%/yr for TSCV.

Performance

FNK vs. TSCV - Performance Comparison

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

Returns By Period

In the year-to-date period, FNK achieves a 7.22% return, which is significantly lower than TSCV's 15.89% return.

FNK

• 1D: -0.38%
• 1M: 0.68%
• YTD: 7.22%
• 6M: 7.56%
• 1Y: 19.55%
• 3Y*: 13.11%
• 5Y*: 6.97%
• 10Y*: 9.29%

TSCV

• 1D: -0.29%
• 1M: 1.16%
• YTD: 15.89%
• 6M: 14.99%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FNK vs. TSCV - Yearly Performance Comparison

	2026 (YTD)	2025
FNK First Trust Mid Cap Value AlphaDEX Fund	7.22%	7.02%
TSCV Thrivent Small Cap Value ETF	15.89%	6.24%

Correlation

The correlation between FNK and TSCV is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 18, 2025	0.91

Return for Risk

FNK vs. TSCV — Risk / Return Rank

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

FNK

FNK Risk / Return Rank: 38
FNK Sharpe Ratio Rank: 35
FNK Sortino Ratio Rank: 39
FNK Omega Ratio Rank: 35
FNK Calmar Ratio Rank: 43
FNK Martin Ratio Rank: 39

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. TSCV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Mid Cap Value AlphaDEX Fund (FNK) and Thrivent Small Cap Value ETF (TSCV). 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.

	FNK	TSCV	Difference
Sharpe ratio Return per unit of total volatility	1.29	—	—
Sortino ratio Return per unit of downside risk	2.02	—	—
Omega ratio Gain probability vs. loss probability	1.23	—	—
Calmar ratio Return relative to maximum drawdown	2.15	—	—
Martin ratio Return relative to average drawdown	6.23	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FNK	TSCV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.29	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.39	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	2.84	-2.44

Drawdowns

FNK vs. TSCV - Drawdown Comparison

The maximum FNK drawdown since its inception was -50.70%, which is greater than TSCV's maximum drawdown of -10.17%. Use the drawdown chart below to compare losses from any high point for FNK and TSCV.

Drawdown Indicators

	FNK	TSCV	Difference
Max Drawdown Largest peak-to-trough decline	-50.70%	-10.17%	-40.53%
Max Drawdown (1Y) Largest decline over 1 year	-9.13%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-25.16%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-25.16%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-50.70%	—	—
Current Drawdown Current decline from peak	-2.16%	-0.70%	-1.46%
Average Drawdown Average peak-to-trough decline	-6.84%	-2.11%	-4.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.15%	—	—

Volatility

Volatility by Period

	FNK	TSCV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.53%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.69%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	15.36%	16.80%	-1.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.04%	16.80%	+4.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.86%	16.80%	+7.06%

FNK vs. TSCV - Expense Ratio Comparison

FNK has a 0.70% expense ratio, which is higher than TSCV's 0.60% expense ratio.

Dividends

FNK vs. TSCV - Dividend Comparison

FNK's dividend yield for the trailing twelve months is around 1.56%, more than TSCV's 0.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNK First Trust Mid Cap Value AlphaDEX Fund	1.56%	1.53%	1.63%	1.76%	1.66%	1.27%	1.61%	1.82%	1.76%	1.40%	1.38%	1.45%
TSCV Thrivent Small Cap Value ETF	0.24%	0.28%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FNK and TSCV in my portfolio?

With a correlation of 0.91, FNK and TSCV move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, FNK or TSCV?

On fees, TSCV is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FNK or TSCV?

TSCV is cheaper with a 0.60% expense ratio, compared with 0.70% for FNK.

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

FNK has the higher dividend yield at 1.56%, compared with 0.24% for TSCV.

What is the main difference between FNK and TSCV?

They also come from different issuers: First Trust and Thrivent. Their fees differ too: 0.70% for FNK and 0.60% for TSCV.