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FNY vs. FAD
Performance
Return for Risk
Dividends
Drawdowns
Volatility

FNY vs. FAD

Last updated Apr 1, 2026

Compare and contrast key facts about First Trust Mid Cap Growth AlphaDEX Fund (FNY) and First Trust Multi Cap Growth AlphaDEX Fund (FAD).

FNY and FAD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FNY is a passively managed fund by First Trust that tracks the performance of the NASDAQ AlphaDEX Mid Cap Growth Index. It was launched on Apr 18, 2011. FAD is a passively managed fund by First Trust that tracks the performance of the NASDAQ AlphaDEX Multi Cap Growth Index. It was launched on May 8, 2007. Both FNY and FAD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

FNY vs. FAD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Mid Cap Growth AlphaDEX Fund (FNY) and First Trust Multi Cap Growth AlphaDEX Fund (FAD). The values are adjusted to include any dividend payments, if applicable.

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FNY vs. FAD - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FNY
First Trust Mid Cap Growth AlphaDEX Fund		-0.78%14.03%18.09%21.13%-23.80%13.46%36.97%32.54%-7.53%25.12%
FAD
First Trust Multi Cap Growth AlphaDEX Fund		-1.80%17.23%23.85%19.07%-24.06%21.17%34.92%26.66%-6.45%25.75%

Returns By Period

In the year-to-date period, FNY achieves a -0.78% return, which is significantly higher than FAD's -1.80% return. Both investments have delivered pretty close results over the past 10 years, with FNY having a 12.30% annualized return and FAD not far ahead at 12.73%.

FNY

1D
3.95%
1M
-6.82%
YTD
-0.78%
6M
-1.23%
1Y
20.89%
3Y*
15.28%
5Y*
5.77%
10Y*
12.30%

FAD

1D
3.83%
1M
-5.64%
YTD
-1.80%
6M
-0.99%
1Y
22.98%
3Y*
17.93%
5Y*
8.03%
10Y*
12.73%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

First Trust Mid Cap Growth AlphaDEX Fund

First Trust Multi Cap Growth AlphaDEX Fund

Often compared with FNY:
FNY vs. SPYFNY vs. IMCGFNY vs. SPYGFNY vs. FNCMXFNY vs. VOTFNY vs. XMHQFNY vs. COWZ
Often compared with FAD:
FAD vs. PEXLFAD vs. IUSGFAD vs. SPYFAD vs. IMCGFAD vs. XMMOFAD vs. XMHQFAD vs. VDIGX

FNY vs. FAD - Expense Ratio Comparison

FNY has a 0.70% expense ratio, which is higher than FAD's 0.63% expense ratio.

FNY
First Trust Mid Cap Growth AlphaDEX Fund
FAD
First Trust Multi Cap Growth AlphaDEX Fund

Return for Risk

FNY vs. FAD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FNY
FNY Risk / Return Rank: 5454
Overall Rank
FNY Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
FNY Sortino Ratio Rank: 5252
Sortino Ratio Rank
FNY Omega Ratio Rank: 4646
Omega Ratio Rank
FNY Calmar Ratio Rank: 6565
Calmar Ratio Rank
FNY Martin Ratio Rank: 6060
Martin Ratio Rank
FAD
FAD Risk / Return Rank: 6464
Overall Rank
FAD Sharpe Ratio Rank: 6060
Sharpe Ratio Rank
FAD Sortino Ratio Rank: 6161
Sortino Ratio Rank
FAD Omega Ratio Rank: 5757
Omega Ratio Rank
FAD Calmar Ratio Rank: 7070
Calmar Ratio Rank
FAD Martin Ratio Rank: 7070
Martin Ratio Rank
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.

FNY vs. FAD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Mid Cap Growth AlphaDEX Fund (FNY) and First Trust Multi Cap Growth AlphaDEX Fund (FAD). 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.

FNYFADDifference

Sharpe ratio

Return per unit of total volatility

0.89

1.05

-0.17

Sortino ratio

Return per unit of downside risk

1.36

1.55

-0.19

Omega ratio

Gain probability vs. loss probability

1.18

1.21

-0.03

Calmar ratio

Return relative to maximum drawdown

1.64

1.78

-0.14

Martin ratio

Return relative to average drawdown

5.93

7.13

-1.20

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FNY vs. FAD - Sharpe Ratio Comparison

The current FNY Sharpe Ratio is 0.89, which is comparable to the FAD Sharpe Ratio of 1.05. The chart below compares the historical Sharpe Ratios of FNY and FAD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

FNYFADDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.89

1.05

-0.17

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.26

0.39

-0.13

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.56

0.61

-0.05

Sharpe Ratio (All Time)

Calculated using the full available price history

0.51

0.46

+0.05

Correlation

The correlation between FNY and FAD is 0.94, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FNY vs. FAD - Dividend Comparison

FNY's dividend yield for the trailing twelve months is around 0.03%, less than FAD's 0.11% yield.

TTM20252024202320222021202020192018201720162015
FNY
First Trust Mid Cap Growth AlphaDEX Fund		0.03%0.03%0.56%0.24%0.24%0.00%0.25%0.28%0.06%0.21%0.60%0.46%
FAD
First Trust Multi Cap Growth AlphaDEX Fund		0.11%0.09%0.59%0.51%0.60%0.09%0.32%0.48%0.20%0.22%0.64%0.41%

Drawdowns

FNY vs. FAD - Drawdown Comparison

The maximum FNY drawdown since its inception was -38.91%, smaller than the maximum FAD drawdown of -54.33%. Use the drawdown chart below to compare losses from any high point for FNY and FAD.

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Drawdown Indicators

FNYFADDifference

Max Drawdown

Largest peak-to-trough decline

-38.91%

-54.33%

+15.42%

Max Drawdown (1Y)

Largest decline over 1 year

-13.48%

-13.08%

-0.40%

Max Drawdown (5Y)

Largest decline over 5 years

-33.94%

-31.99%

-1.95%

Max Drawdown (10Y)

Largest decline over 10 years

-38.91%

-37.25%

-1.66%

Current Drawdown

Current decline from peak

-8.53%

-7.24%

-1.29%

Average Drawdown

Average peak-to-trough decline

-7.66%

-9.72%

+2.06%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.72%

3.26%

+0.46%

Volatility

FNY vs. FAD - Volatility Comparison

First Trust Mid Cap Growth AlphaDEX Fund (FNY) has a higher volatility of 8.27% compared to First Trust Multi Cap Growth AlphaDEX Fund (FAD) at 7.87%. This indicates that FNY's price experiences larger fluctuations and is considered to be riskier than FAD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FNYFADDifference

Volatility (1M)

Calculated over the trailing 1-month period

8.27%

7.87%

+0.40%

Volatility (6M)

Calculated over the trailing 6-month period

15.56%

14.67%

+0.89%

Volatility (1Y)

Calculated over the trailing 1-year period

23.69%

21.90%

+1.79%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.34%

20.50%

+1.84%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.22%

21.07%

+1.15%