FNY vs. KMID

Last updated Jun 25, 2026

FNY (First Trust Mid Cap Growth AlphaDEX Fund) and KMID (Virtus KAR Mid-Cap ETF) are both Mid Cap Growth Equities funds. FNY is passively managed, while KMID is actively managed. Over the past year, FNY returned 31.38% vs -0.24% for KMID. A 0.76 correlation means they provide meaningful diversification when combined. FNY charges 0.70%/yr vs 0.80%/yr for KMID.

Performance

FNY vs. KMID - Performance Comparison

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

Returns By Period

In the year-to-date period, FNY achieves a 17.77% return, which is significantly higher than KMID's 1.82% return.

FNY

• 1D: 0.21%
• 1M: 4.92%
• YTD: 17.77%
• 6M: 14.21%
• 1Y: 31.38%
• 3Y*: 20.50%
• 5Y*: 7.73%
• 10Y*: 14.22%

KMID

• 1D: 0.95%
• 1M: 0.89%
• YTD: 1.82%
• 6M: 0.24%
• 1Y: -0.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FNY vs. KMID - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FNY First Trust Mid Cap Growth AlphaDEX Fund	17.77%	14.03%	-1.73%
KMID Virtus KAR Mid-Cap ETF	1.82%	0.31%	-3.02%

Correlation

The correlation between FNY and KMID is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (All Time) Calculated using the full available price history since Oct 16, 2024	0.76

The correlation between FNY and KMID has been stable across timeframes, ranging from 0.74 to 0.76 - a consistent structural relationship.

FNY vs. KMID - Sectors Allocation Comparison

Sectors	FNY	KMID
Industrials	24.9%	52.2%
Technology	19.3%	15.8%
Healthcare	18.6%	11.5%
Consumer Cyclical	11.8%	8.7%
Financial Services	9.4%	11.8%
Real Estate	6.0%	-
Communication Services	3.7%	-
Consumer Defensive	2.0%	-
Basic Materials	1.9%	-
Energy	1.7%	-
Utilities	0.6%	-

Return for Risk

FNY vs. KMID — Risk / Return Rank

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

FNY

FNY Risk / Return Rank: 53
FNY Sharpe Ratio Rank: 50
FNY Sortino Ratio Rank: 50
FNY Omega Ratio Rank: 45
FNY Calmar Ratio Rank: 60
FNY Martin Ratio Rank: 60

KMID

KMID Risk / Return Rank: 9
KMID Sharpe Ratio Rank: 9
KMID Sortino Ratio Rank: 8
KMID Omega Ratio Rank: 8
KMID Calmar Ratio Rank: 9
KMID Martin Ratio Rank: 9

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. KMID - Risk-Adjusted Trends Comparison

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

	FNY	KMID	Difference
Sharpe ratio: Return per unit of total volatility	1.53	-0.02	+1.54
Sortino ratio: Return per unit of downside risk	2.18	0.08	+2.09
Omega ratio: Gain probability vs. loss probability	1.26	1.01	+0.25
Calmar ratio: Return relative to maximum drawdown	2.63	-0.02	+2.65
Martin ratio: Return relative to average drawdown	9.46	-0.06	+9.51

FNY vs. KMID - Sharpe Ratio Comparison

The current FNY Sharpe Ratio is 1.53, which is higher than the KMID Sharpe Ratio of -0.02. The chart below compares the historical Sharpe Ratios of FNY and KMID, 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

FNY vs. KMID - Drawdown Comparison

The maximum FNY drawdown since its inception was -38.91%, which is greater than KMID's maximum drawdown of -18.89%. Use the drawdown chart below to compare losses from any high point for FNY and KMID.

Drawdown Indicators

	FNY	KMID	Difference
Max Drawdown Largest peak-to-trough decline	-38.91%	-18.89%	-20.02%
Max Drawdown (1Y) Largest decline over 1 year	-12.01%	-10.71%	-1.30%
Max Drawdown (3Y) Largest decline over 3 years	-24.97%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-33.94%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-38.91%	—	—
Current Drawdown Current decline from peak	-1.27%	-5.32%	+4.05%
Average Drawdown Average peak-to-trough decline	-7.57%	-5.74%	-1.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.33%	4.37%	-1.04%

Volatility

FNY vs. KMID - Volatility Comparison

First Trust Mid Cap Growth AlphaDEX Fund (FNY) has a higher volatility of 7.18% compared to Virtus KAR Mid-Cap ETF (KMID) at 5.06%. This indicates that FNY's price experiences larger fluctuations and is considered to be riskier than KMID based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNY	KMID	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.18%	5.06%	+2.12%
Volatility (6M) Calculated over the trailing 6-month period	15.77%	11.74%	+4.03%
Volatility (1Y) Calculated over the trailing 1-year period	20.67%	14.86%	+5.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.41%	16.98%	+5.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.41%	16.98%	+5.43%

FNY vs. KMID - Expense Ratio Comparison

FNY has a 0.70% expense ratio, which is lower than KMID's 0.80% expense ratio.

Dividends

FNY vs. KMID - Dividend Comparison

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

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
KMID Virtus KAR Mid-Cap ETF	0.11%	0.06%	0.05%	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 FNY and KMID in my portfolio?

FNY and KMID have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FNY or KMID?

FNY has higher volatility (7.18%) compared to KMID (5.06%). In terms of maximum drawdown, FNY dropped -38.91% vs KMID's -18.89%.

Which ETF is better, FNY or KMID?

On 1-year performance, FNY leads with 31.38% vs -0.24% for KMID. On fees, FNY is cheaper at 0.70% per year. On volatility, KMID has been the lower-risk option at 5.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FNY or KMID?

Over the 1-year period, FNY has performed better with a 31.38% return vs -0.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FNY or KMID?

FNY is cheaper with a 0.70% expense ratio, compared with 0.80% for KMID.

Which ETF pays a higher dividend yield, FNY or KMID?

KMID has the higher dividend yield at 0.11%, compared with 0.03% for FNY.

What is the main difference between FNY and KMID?

They also come from different issuers: First Trust and Virtus. Their fees differ too: 0.70% for FNY and 0.80% for KMID.

Which has better risk-adjusted returns?

FNY currently has the higher Sharpe Ratio (1.53 vs -0.02), 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.