FSCS vs. CTEF

Last updated Jun 4, 2026

FSCS (First Trust SMID Capital Strength ETF) and CTEF (Castellan Targeted Equity ETF) are both Mid Cap Blend Equities funds. FSCS is passively managed, while CTEF is actively managed. At a 0.49 correlation, their price movements are largely independent. FSCS charges 0.60%/yr vs 0.45%/yr for CTEF.

Performance

FSCS vs. CTEF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust SMID Capital Strength ETF (FSCS) and Castellan Targeted Equity ETF (CTEF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSCS achieves a -1.53% return, which is significantly lower than CTEF's 29.35% return.

FSCS

• 1D: -0.01%
• 1M: -1.54%
• YTD: -1.53%
• 6M: -1.11%
• 1Y: -1.10%
• 3Y*: 9.79%
• 5Y*: 4.93%
• 10Y*: —

CTEF

• 1D: -0.41%
• 1M: 10.65%
• YTD: 29.35%
• 6M: 31.78%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FSCS vs. CTEF - Yearly Performance Comparison

	2026 (YTD)	2025
FSCS First Trust SMID Capital Strength ETF	-1.53%	2.50%
CTEF Castellan Targeted Equity ETF	29.35%	33.22%

Correlation

The correlation between FSCS and CTEF is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 20, 2025	0.49

Return for Risk

FSCS vs. CTEF — Risk / Return Rank

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

FSCS

FSCS Risk / Return Rank: 8
FSCS Sharpe Ratio Rank: 8
FSCS Sortino Ratio Rank: 7
FSCS Omega Ratio Rank: 8
FSCS Calmar Ratio Rank: 8
FSCS Martin Ratio Rank: 8

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.

FSCS vs. CTEF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust SMID Capital Strength ETF (FSCS) and Castellan Targeted Equity ETF (CTEF). 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	CTEF	Difference
Sharpe ratio: Return per unit of total volatility	-0.09	—	—
Sortino ratio: Return per unit of downside risk	-0.04	—	—
Omega ratio: Gain probability vs. loss probability	1.00	—	—
Calmar ratio: Return relative to maximum drawdown	-0.14	—	—
Martin ratio: Return relative to average drawdown	-0.31	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FSCS	CTEF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.09	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.27	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	3.54	-3.16

Drawdowns

FSCS vs. CTEF - Drawdown Comparison

The maximum FSCS drawdown since its inception was -43.57%, which is greater than CTEF's maximum drawdown of -15.00%. Use the drawdown chart below to compare losses from any high point for FSCS and CTEF.

Drawdown Indicators

	FSCS	CTEF	Difference
Max Drawdown Largest peak-to-trough decline	-43.57%	-15.00%	-28.57%
Max Drawdown (1Y) Largest decline over 1 year	-7.81%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-19.55%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.25%	—	—
Current Drawdown Current decline from peak	-7.32%	-0.41%	-6.91%
Average Drawdown Average peak-to-trough decline	-5.99%	-1.80%	-4.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.60%	—	—

Volatility

Volatility by Period

	FSCS	CTEF	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.07%	—	—
Volatility (6M) Calculated over the trailing 6-month period	8.22%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.70%	21.81%	-9.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.09%	21.81%	-3.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.20%	21.81%	-0.61%

FSCS vs. CTEF - Expense Ratio Comparison

FSCS has a 0.60% expense ratio, which is higher than CTEF's 0.45% expense ratio.

Dividends

FSCS vs. CTEF - Dividend Comparison

FSCS's dividend yield for the trailing twelve months is around 0.91%, more than CTEF's 0.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CTEF Castellan Targeted Equity ETF	0.06%	0.08%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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%

Frequently Asked Questions

Can I hold both FSCS and CTEF in my portfolio?

FSCS and CTEF have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FSCS or CTEF?

On fees, CTEF is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FSCS or CTEF?

CTEF is cheaper with a 0.45% expense ratio, compared with 0.60% for FSCS.

Which ETF pays a higher dividend yield, FSCS or CTEF?

FSCS has the higher dividend yield at 0.91%, compared with 0.06% for CTEF.

What is the main difference between FSCS and CTEF?

They also come from different issuers: First Trust and Castellan. Their fees differ too: 0.60% for FSCS and 0.45% for CTEF.