FRTY vs. FAD

Last updated Jun 4, 2026

FRTY (Alger Mid Cap 40 ETF) and FAD (First Trust Multi Cap Growth AlphaDEX Fund) are both Mid Cap Growth Equities funds. FRTY is actively managed, while FAD is passively managed. Over the past 5 years, FRTY returned 4.95%/yr vs 11.25%/yr for FAD. Their correlation of 0.82 suggests significant overlap in exposure. FRTY charges 0.60%/yr vs 0.63%/yr for FAD.

Performance

FRTY vs. FAD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alger Mid Cap 40 ETF (FRTY) and First Trust Multi Cap Growth AlphaDEX Fund (FAD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FRTY achieves a 12.43% return, which is significantly lower than FAD's 17.25% return.

FRTY

• 1D: -0.76%
• 1M: 10.48%
• YTD: 12.43%
• 6M: 12.10%
• 1Y: 30.04%
• 3Y*: 23.96%
• 5Y*: 4.95%
• 10Y*: —

FAD

• 1D: -0.15%
• 1M: 6.70%
• YTD: 17.25%
• 6M: 17.16%
• 1Y: 34.52%
• 3Y*: 24.16%
• 5Y*: 11.25%
• 10Y*: 14.53%

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

FRTY vs. FAD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FRTY Alger Mid Cap 40 ETF	12.43%	12.82%	38.86%	16.81%	-42.23%	2.07%
FAD First Trust Multi Cap Growth AlphaDEX Fund	17.25%	17.23%	23.85%	19.07%	-24.06%	10.93%

Correlation

The correlation between FRTY and FAD is 0.86, 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	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (All Time) Calculated using the full available price history since Mar 2, 2021	0.82

The correlation between FRTY and FAD has been stable across timeframes, ranging from 0.82 to 0.86 - a consistent structural relationship.

FRTY vs. FAD - Sectors Allocation Comparison

Sectors	FRTY	FAD
Technology	24.1%	24.1%
Healthcare	20.2%	15.4%
Industrials	14.5%	26.1%
Communication Services	13.5%	3.1%
Consumer Cyclical	8.0%	10.8%
Energy	6.6%	1.6%
Utilities	6.0%	1.6%
Financial Services	4.5%	8.0%
Consumer Defensive	1.0%	2.4%
Basic Materials	-	3.0%
Real Estate	-	4.1%

Return for Risk

FRTY vs. FAD — Risk / Return Rank

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

FRTY

FRTY Risk / Return Rank: 30
FRTY Sharpe Ratio Rank: 32
FRTY Sortino Ratio Rank: 31
FRTY Omega Ratio Rank: 30
FRTY Calmar Ratio Rank: 31
FRTY Martin Ratio Rank: 28

FAD

FAD Risk / Return Rank: 59
FAD Sharpe Ratio Rank: 55
FAD Sortino Ratio Rank: 53
FAD Omega Ratio Rank: 51
FAD Calmar Ratio Rank: 66
FAD Martin Ratio Rank: 68

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.

FRTY vs. FAD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alger Mid Cap 40 ETF (FRTY) 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.

	FRTY	FAD	Difference
Sharpe ratio: Return per unit of total volatility	1.17	1.88	-0.71
Sortino ratio: Return per unit of downside risk	1.66	2.59	-0.93
Omega ratio: Gain probability vs. loss probability	1.20	1.32	-0.12
Calmar ratio: Return relative to maximum drawdown	1.53	3.25	-1.72
Martin ratio: Return relative to average drawdown	3.97	12.54	-8.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FRTY vs. FAD - Sharpe Ratio Comparison

The current FRTY Sharpe Ratio is 1.17, which is lower than the FAD Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of FRTY and FAD, 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

	FRTY	FAD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.17	1.88	-0.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.18	0.55	-0.37
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.69	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.14	0.50	-0.36

Drawdowns

FRTY vs. FAD - Drawdown Comparison

The maximum FRTY drawdown since its inception was -53.15%, roughly equal to the maximum FAD drawdown of -54.33%. Use the drawdown chart below to compare losses from any high point for FRTY and FAD.

Drawdown Indicators

	FRTY	FAD	Difference
Max Drawdown Largest peak-to-trough decline	-53.15%	-54.33%	+1.18%
Max Drawdown (1Y) Largest decline over 1 year	-19.75%	-10.66%	-9.09%
Max Drawdown (3Y) Largest decline over 3 years	-31.48%	-23.55%	-7.93%
Max Drawdown (5Y) Largest decline over 5 years	-53.15%	-31.99%	-21.16%
Max Drawdown (10Y) Largest decline over 10 years	—	-37.25%	—
Current Drawdown Current decline from peak	-0.76%	-0.15%	-0.61%
Average Drawdown Average peak-to-trough decline	-27.97%	-9.64%	-18.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.59%	2.76%	+4.83%

Volatility

FRTY vs. FAD - Volatility Comparison

Alger Mid Cap 40 ETF (FRTY) has a higher volatility of 9.01% compared to First Trust Multi Cap Growth AlphaDEX Fund (FAD) at 6.01%. This indicates that FRTY'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.

Volatility by Period

	FRTY	FAD	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.01%	6.01%	+3.00%
Volatility (6M) Calculated over the trailing 6-month period	18.38%	14.14%	+4.24%
Volatility (1Y) Calculated over the trailing 1-year period	25.86%	18.50%	+7.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.19%	20.53%	+6.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.11%	21.18%	+5.93%

FRTY vs. FAD - Expense Ratio Comparison

FRTY has a 0.60% expense ratio, which is lower than FAD's 0.63% expense ratio.

Dividends

FRTY vs. FAD - Dividend Comparison

FRTY's dividend yield for the trailing twelve months is around 0.17%, more than FAD's 0.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAD First Trust Multi Cap Growth AlphaDEX Fund	0.09%	0.09%	0.59%	0.51%	0.60%	0.09%	0.32%	0.48%	0.20%	0.22%	0.64%	0.41%
FRTY Alger Mid Cap 40 ETF	0.17%	0.19%	0.10%	0.00%	0.00%	5.35%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FRTY and FAD in my portfolio?

FRTY and FAD have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FRTY or FAD?

FRTY has higher volatility (9.01%) compared to FAD (6.01%). In terms of maximum drawdown, FRTY dropped -53.15% vs FAD's -54.33%.

Which ETF is better, FRTY or FAD?

On 5-year performance, FAD leads with 11.25% vs 4.95% for FRTY. On fees, FRTY is cheaper at 0.60% per year. On volatility, FAD has been the lower-risk option at 6.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FRTY or FAD?

Over the 5-year period, FAD has performed better with a 11.25% return vs 4.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FRTY or FAD?

FRTY is cheaper with a 0.60% expense ratio, compared with 0.63% for FAD.

Which ETF pays a higher dividend yield, FRTY or FAD?

FRTY has the higher dividend yield at 0.17%, compared with 0.09% for FAD.

What is the main difference between FRTY and FAD?

They also come from different issuers: Alger Group Holdings LLC and First Trust. Their fees differ too: 0.60% for FRTY and 0.63% for FAD.

Which has better risk-adjusted returns?

FAD currently has the higher Sharpe Ratio (1.88 vs 1.17), 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.