FNX vs. PTMC
FNX (First Trust Mid Cap Core AlphaDEX Fund) and PTMC (Pacer Trendpilot US Mid Cap ETF) are both Mid Cap Blend Equities funds - FNX tracks the NASDAQ AlphaDEX Mid Cap Core Index while PTMC tracks the Pacer Trendpilot US Mid Cap Index. Both are passively managed. Over the past 10 years, FNX returned 13.03%/yr vs 7.02%/yr for PTMC. A 0.78 correlation means they provide meaningful diversification when combined. Both charge a 0.60% expense ratio.
Performance
FNX vs. PTMC - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with FNX having a 15.76% return and PTMC slightly higher at 16.10%. Over the past 10 years, FNX has outperformed PTMC with an annualized return of 13.03%, while PTMC has yielded a comparatively lower 7.02% annualized return.
FNX
- 1D
- 0.99%
- 1M
- 3.25%
- YTD
- 15.76%
- 6M
- 13.36%
- 1Y
- 29.74%
- 3Y*
- 17.67%
- 5Y*
- 8.91%
- 10Y*
- 13.03%
PTMC
- 1D
- 0.71%
- 1M
- 2.46%
- YTD
- 16.10%
- 6M
- 13.77%
- 1Y
- 20.99%
- 3Y*
- 10.89%
- 5Y*
- 4.15%
- 10Y*
- 7.02%
FNX vs. PTMC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FNX First Trust Mid Cap Core AlphaDEX Fund | 15.76% | 9.87% | 12.21% | 20.39% | -13.57% | 25.05% | 16.04% | 26.97% | -11.23% | 17.66% |
PTMC Pacer Trendpilot US Mid Cap ETF | 16.10% | -1.55% | 13.22% | 7.29% | -13.99% | 12.42% | 6.58% | 1.04% | 0.02% | 17.79% |
Correlation
The correlation between FNX and PTMC is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.78 |
The correlation between FNX and PTMC shifts across timeframes, from 0.77 (5 years) to 0.95 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FNX vs. PTMC — Risk / Return Rank
FNX
PTMC
FNX vs. PTMC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Mid Cap Core AlphaDEX Fund (FNX) and Pacer Trendpilot US Mid Cap ETF (PTMC). 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.
| FNX | PTMC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.49 | ||
| Sortino ratioReturn per unit of downside risk | +0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.24 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.23 | 2.37 | +0.86 |
| Martin ratioReturn relative to average drawdown | 11.12 | 8.64 | +2.48 |
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Drawdowns
FNX vs. PTMC - Drawdown Comparison
The maximum FNX drawdown since its inception was -57.11%, which is greater than PTMC's maximum drawdown of -20.53%. Use the drawdown chart below to compare losses from any high point for FNX and PTMC.
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Drawdown Indicators
| FNX | PTMC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.11% | -20.53% | -36.58% |
Max Drawdown (1Y)Largest decline over 1 year | -9.24% | -8.89% | -0.35% |
Max Drawdown (3Y)Largest decline over 3 years | -24.97% | -15.31% | -9.66% |
Max Drawdown (5Y)Largest decline over 5 years | -24.97% | -16.93% | -8.04% |
Max Drawdown (10Y)Largest decline over 10 years | -43.95% | -20.53% | -23.42% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -8.38% | -6.44% | -1.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.68% | 2.44% | +0.24% |
Volatility
FNX vs. PTMC - Volatility Comparison
First Trust Mid Cap Core AlphaDEX Fund (FNX) and Pacer Trendpilot US Mid Cap ETF (PTMC) have volatilities of 4.45% and 4.36%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FNX | PTMC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.45% | 4.36% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 11.71% | 11.78% | -0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.38% | 15.72% | +0.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.51% | 13.25% | +7.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.95% | 12.97% | +8.98% |
FNX vs. PTMC - Expense Ratio Comparison
Both FNX and PTMC have an expense ratio of 0.60%.
Dividends
FNX vs. PTMC - Dividend Comparison
FNX's dividend yield for the trailing twelve months is around 0.99%, less than PTMC's 1.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FNX First Trust Mid Cap Core AlphaDEX Fund | 0.99% | 0.88% | 1.26% | 1.11% | 1.19% | 0.94% | 1.04% | 1.21% | 1.01% | 0.90% | 1.07% | 1.07% |
PTMC Pacer Trendpilot US Mid Cap ETF | 1.59% | 1.84% | 0.87% | 1.92% | 0.82% | 0.12% | 0.53% | 1.40% | 0.89% | 0.67% | 0.66% | 0.00% |
Frequently Asked Questions
With a correlation of 0.95, FNX and PTMC 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.
FNX has higher volatility (4.45%) compared to PTMC (4.36%). In terms of maximum drawdown, FNX dropped -57.11% vs PTMC's -20.53%.
On 10-year performance, FNX leads with 13.03% vs 7.02% for PTMC. Both ETFs have the same 0.60% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, FNX has performed better with a 13.03% return vs 7.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FNX and PTMC have the same expense ratio: 0.60% per year.
PTMC has the higher dividend yield at 1.59%, compared with 0.99% for FNX.
FNX tracks NASDAQ AlphaDEX Mid Cap Core Index, while PTMC tracks Pacer Trendpilot US Mid Cap Index. They also come from different issuers: First Trust and Pacer.
FNX currently has the higher Sharpe Ratio (1.83 vs 1.34), 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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