FNX vs. PTMC

Last updated Jun 4, 2026

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 11.90%/yr vs 6.17%/yr for PTMC. A 0.77 correlation means they provide meaningful diversification when combined. Both charge a 0.60% expense ratio.

Performance

FNX vs. PTMC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Mid Cap Core AlphaDEX Fund (FNX) and Pacer Trendpilot US Mid Cap ETF (PTMC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNX achieves a 11.81% return, which is significantly lower than PTMC's 14.07% return. Over the past 10 years, FNX has outperformed PTMC with an annualized return of 11.90%, while PTMC has yielded a comparatively lower 6.17% annualized return.

FNX

• 1D: -0.18%
• 1M: 2.71%
• YTD: 11.81%
• 6M: 11.61%
• 1Y: 26.57%
• 3Y*: 16.99%
• 5Y*: 8.31%
• 10Y*: 11.90%

PTMC

• 1D: -0.05%
• 1M: 3.83%
• YTD: 14.07%
• 6M: 14.26%
• 1Y: 19.08%
• 3Y*: 10.19%
• 5Y*: 3.79%
• 10Y*: 6.17%

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

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	11.81%	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	14.07%	-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 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.77

The correlation between FNX and PTMC shifts across timeframes, from 0.76 (5 years) to 0.93 (1 year), reflecting how their relationship changes across market environments.

FNX vs. PTMC - Sectors Allocation Comparison

Sectors	FNX	PTMC
Industrials	19.3%	23.6%
Financial Services	18.6%	15.1%
Consumer Cyclical	14.4%	10.8%
Healthcare	10.4%	8.8%
Technology	9.5%	16.4%
Real Estate	8.6%	7.0%
Energy	6.2%	4.2%
Consumer Defensive	4.0%	4.8%
Basic Materials	3.1%	4.9%
Utilities	2.7%	3.0%
Communication Services	2.2%	1.4%

Return for Risk

FNX vs. PTMC — Risk / Return Rank

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

FNX

FNX Risk / Return Rank: 52
FNX Sharpe Ratio Rank: 47
FNX Sortino Ratio Rank: 50
FNX Omega Ratio Rank: 46
FNX Calmar Ratio Rank: 59
FNX Martin Ratio Rank: 56

PTMC

PTMC Risk / Return Rank: 40
PTMC Sharpe Ratio Rank: 35
PTMC Sortino Ratio Rank: 36
PTMC Omega Ratio Rank: 37
PTMC Calmar Ratio Rank: 44
PTMC Martin Ratio Rank: 48

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.

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.

	FNX	PTMC	Difference
Sharpe ratio: Return per unit of total volatility	1.66	1.26	+0.40
Sortino ratio: Return per unit of downside risk	2.44	1.91	+0.53
Omega ratio: Gain probability vs. loss probability	1.29	1.24	+0.05
Calmar ratio: Return relative to maximum drawdown	2.89	2.16	+0.73
Martin ratio: Return relative to average drawdown	9.95	7.90	+2.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FNX vs. PTMC - Sharpe Ratio Comparison

The current FNX Sharpe Ratio is 1.66, which is higher than the PTMC Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of FNX and PTMC, 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

	FNX	PTMC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.66	1.26	+0.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	0.29	+0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	0.48	+0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.51	-0.09

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.

Drawdown Indicators

	FNX	PTMC	Difference
Max Drawdown Largest 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 Drawdown Current decline from peak	-0.77%	-0.05%	-0.72%
Average Drawdown Average peak-to-trough decline	-8.41%	-6.47%	-1.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.68%	2.42%	+0.26%

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 4.63% and 4.41%, 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.

Volatility by Period

	FNX	PTMC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.63%	4.41%	+0.22%
Volatility (6M) Calculated over the trailing 6-month period	11.43%	11.43%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	16.11%	15.17%	+0.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.49%	13.15%	+7.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.97%	12.98%	+8.99%

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 0.83%, less than PTMC's 1.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNX First Trust Mid Cap Core AlphaDEX Fund	0.83%	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	1.61%	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

Can I hold both FNX and PTMC in my portfolio?

With a correlation of 0.93, 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.

Which is riskier, FNX or PTMC?

FNX has higher volatility (4.63%) compared to PTMC (4.41%). In terms of maximum drawdown, FNX dropped -57.11% vs PTMC's -20.53%.

Which ETF is better, FNX or PTMC?

On 10-year performance, FNX leads with 11.90% vs 6.17% for PTMC. Both ETFs have the same 0.60% expense ratio. On volatility, PTMC has been the lower-risk option at 4.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FNX or PTMC?

Over the 10-year period, FNX has performed better with a 11.90% return vs 6.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FNX or PTMC?

FNX and PTMC have the same expense ratio: 0.60% per year.

Which ETF pays a higher dividend yield, FNX or PTMC?

PTMC has the higher dividend yield at 1.61%, compared with 0.83% for FNX.

What is the main difference between FNX and PTMC?

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.

Which has better risk-adjusted returns?

FNX currently has the higher Sharpe Ratio (1.66 vs 1.26), 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.