FSCS vs. AIRR
Compare and contrast key facts about First Trust SMID Capital Strength ETF (FSCS) and First Trust RBA American Industrial Renaissance ETF (AIRR).
FSCS and AIRR are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FSCS is a passively managed fund by First Trust that tracks the performance of the SMID Capital Strength Index. It was launched on Jun 20, 2017. AIRR is a passively managed fund by First Trust that tracks the performance of the Richard Bernstein Advisors American Industrial Renaissance (TR). It was launched on Mar 10, 2014. Both FSCS and AIRR 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
FSCS vs. AIRR - Performance Comparison
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FSCS vs. AIRR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSCS First Trust SMID Capital Strength ETF | -1.33% | 1.77% | 14.98% | 16.81% | -9.11% | 26.08% | 5.71% | 28.00% | -12.85% | 10.74% |
AIRR First Trust RBA American Industrial Renaissance ETF | 12.74% | 27.92% | 33.45% | 31.43% | -2.08% | 33.01% | 17.17% | 33.97% | -20.57% | 18.56% |
Returns By Period
In the year-to-date period, FSCS achieves a -1.33% return, which is significantly lower than AIRR's 12.74% return.
FSCS
- 1D
- 1.22%
- 1M
- -5.61%
- YTD
- -1.33%
- 6M
- -3.50%
- 1Y
- 2.82%
- 3Y*
- 9.68%
- 5Y*
- 5.99%
- 10Y*
- —
AIRR
- 1D
- 4.60%
- 1M
- -6.21%
- YTD
- 12.74%
- 6M
- 14.68%
- 1Y
- 62.71%
- 3Y*
- 32.43%
- 5Y*
- 22.20%
- 10Y*
- 20.48%
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FSCS vs. AIRR - Expense Ratio Comparison
FSCS has a 0.60% expense ratio, which is lower than AIRR's 0.70% expense ratio.
Return for Risk
FSCS vs. AIRR — Risk / Return Rank
FSCS
AIRR
FSCS vs. AIRR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust SMID Capital Strength ETF (FSCS) and First Trust RBA American Industrial Renaissance ETF (AIRR). 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.
| FSCS | AIRR | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.16 | 2.23 | -2.07 |
Sortino ratioReturn per unit of downside risk | 0.37 | 2.92 | -2.56 |
Omega ratioGain probability vs. loss probability | 1.05 | 1.38 | -0.34 |
Calmar ratioReturn relative to maximum drawdown | 0.25 | 4.78 | -4.53 |
Martin ratioReturn relative to average drawdown | 0.87 | 16.89 | -16.01 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FSCS | AIRR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.16 | 2.23 | -2.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.33 | 0.89 | -0.56 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.79 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 0.62 | -0.23 |
Correlation
The correlation between FSCS and AIRR is 0.79, 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
FSCS vs. AIRR - Dividend Comparison
FSCS's dividend yield for the trailing twelve months is around 0.91%, more than AIRR's 0.16% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSCS First Trust SMID Capital Strength ETF | 0.91% | 0.75% | 1.12% | 1.47% | 1.71% | 1.21% | 1.33% | 1.68% | 1.67% | 0.67% | 0.00% | 0.00% |
AIRR First Trust RBA American Industrial Renaissance ETF | 0.16% | 0.19% | 0.18% | 0.23% | 0.12% | 0.05% | 0.10% | 0.20% | 0.43% | 0.30% | 0.08% | 0.47% |
Drawdowns
FSCS vs. AIRR - Drawdown Comparison
The maximum FSCS drawdown since its inception was -43.57%, roughly equal to the maximum AIRR drawdown of -42.37%. Use the drawdown chart below to compare losses from any high point for FSCS and AIRR.
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Drawdown Indicators
| FSCS | AIRR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.57% | -42.37% | -1.20% |
Max Drawdown (1Y)Largest decline over 1 year | -12.56% | -13.09% | +0.53% |
Max Drawdown (5Y)Largest decline over 5 years | -21.25% | -27.95% | +6.70% |
Max Drawdown (10Y)Largest decline over 10 years | — | -42.37% | — |
Current DrawdownCurrent decline from peak | -7.13% | -9.09% | +1.96% |
Average DrawdownAverage peak-to-trough decline | -6.00% | -7.50% | +1.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.63% | 3.71% | -0.08% |
Volatility
FSCS vs. AIRR - Volatility Comparison
The current volatility for First Trust SMID Capital Strength ETF (FSCS) is 3.53%, while First Trust RBA American Industrial Renaissance ETF (AIRR) has a volatility of 10.92%. This indicates that FSCS experiences smaller price fluctuations and is considered to be less risky than AIRR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSCS | AIRR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.53% | 10.92% | -7.39% |
Volatility (6M)Calculated over the trailing 6-month period | 8.76% | 19.67% | -10.91% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.50% | 28.26% | -10.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.15% | 25.07% | -6.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.35% | 26.14% | -4.79% |