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FSCS vs. EUSA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FSCS vs. EUSA

Last updated Jul 14, 2026
Documentation

FSCS (First Trust SMID Capital Strength ETF) and EUSA (iShares MSCI USA Equal Weighted ETF) are both Mid Cap Blend Equities funds - FSCS tracks the SMID Capital Strength Index while EUSA tracks the MSCI USA Equal Weighted Index. Both are passively managed. Over the past 5 years, FSCS returned 6.57%/yr vs 8.07%/yr for EUSA. Their correlation of 0.86 suggests significant overlap in exposure. FSCS charges 0.60%/yr vs 0.09%/yr for EUSA.

Performance

FSCS vs. EUSA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust SMID Capital Strength ETF (FSCS) and iShares MSCI USA Equal Weighted ETF (EUSA). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FSCS achieves a 3.80% return, which is significantly lower than EUSA's 11.56% return.

FSCS

1D
0.07%
1M
2.48%
6M
0.79%
YTD
3.80%
1Y
2.78%
3Y*
9.44%
5Y*
6.57%
10Y*
—

EUSA

1D
-0.16%
1M
1.44%
6M
8.06%
YTD
11.56%
1Y
16.27%
3Y*
14.35%
5Y*
8.07%
10Y*
11.46%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FSCS vs. EUSA - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FSCS
First Trust SMID Capital Strength ETF		3.80%1.77%14.98%16.81%-9.11%26.08%5.71%28.00%-12.85%11.41%
EUSA
iShares MSCI USA Equal Weighted ETF		11.56%10.24%14.64%17.72%-17.13%25.60%15.03%30.56%-8.58%10.08%

Correlation

The correlation between FSCS and EUSA is 0.78, 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

0.78

Correlation (3Y)
Calculated over the trailing 3-year period

0.88

Correlation (5Y)
Calculated over the trailing 5-year period

0.90

Correlation (All Time)
Calculated using the full available price history since Jun 22, 2017

0.86

The correlation between FSCS and EUSA shifts across timeframes, from 0.78 (1 year) to 0.90 (5 years), reflecting how their relationship changes across market environments.

FSCS vs. EUSA - Sectors Allocation Comparison

Sectors
FSCS
EUSA

Financial Services

25.7%
14.7%

Industrials

23.8%
15.3%

Consumer Defensive

12.9%
5.3%

Consumer Cyclical

11.9%
11.1%

Technology

5.9%
20.3%

Healthcare

5.0%
10.8%

Real Estate

5.0%
5.2%

Basic Materials

3.0%
4.3%

Energy

3.0%
3.8%

Communication Services

2.0%
4.0%

Utilities

1.0%
5.4%

Financial Services

FSCS
25.7%
EUSA
14.7%

Industrials

FSCS
23.8%
EUSA
15.3%

Consumer Defensive

FSCS
12.9%
EUSA
5.3%

Consumer Cyclical

FSCS
11.9%
EUSA
11.1%

Technology

FSCS
5.9%
EUSA
20.3%

Healthcare

FSCS
5.0%
EUSA
10.8%

Real Estate

FSCS
5.0%
EUSA
5.2%

Basic Materials

FSCS
3.0%
EUSA
4.3%

Energy

FSCS
3.0%
EUSA
3.8%

Communication Services

FSCS
2.0%
EUSA
4.0%

Utilities

FSCS
1.0%
EUSA
5.4%

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 SMID Capital Strength ETF

iShares MSCI USA Equal Weighted ETF

Often compared with FSCS:
FSCS vs. NOIEXFSCS vs. LSAFFSCS vs. AIRRFSCS vs. CIBRFSCS vs. IGLDFSCS vs. EPUFSCS vs. FDL
Often compared with EUSA:
EUSA vs. RSPEUSA vs. GSEWEUSA vs. VOOEUSA vs. VTIEUSA vs. ^GSPCEUSA vs. SCHGEUSA vs. ITOT

Return for Risk

FSCS vs. EUSA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FSCS
FSCS Risk / Return Rank: 1313
Overall Rank
FSCS Sharpe Ratio Rank: 1313
Sharpe Ratio Rank
FSCS Sortino Ratio Rank: 1212
Sortino Ratio Rank
FSCS Omega Ratio Rank: 1212
Omega Ratio Rank
FSCS Calmar Ratio Rank: 1414
Calmar Ratio Rank
FSCS Martin Ratio Rank: 1313
Martin Ratio Rank
EUSA
EUSA Risk / Return Rank: 5151
Overall Rank
EUSA Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
EUSA Sortino Ratio Rank: 5050
Sortino Ratio Rank
EUSA Omega Ratio Rank: 4646
Omega Ratio Rank
EUSA Calmar Ratio Rank: 5252
Calmar Ratio Rank
EUSA Martin Ratio Rank: 5959
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.

FSCS vs. EUSA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust SMID Capital Strength ETF (FSCS) and iShares MSCI USA Equal Weighted ETF (EUSA). 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.

FSCSEUSADifference
Sharpe ratioReturn per unit of total volatility
0.22
1.36

-1.14

Sortino ratioReturn per unit of downside risk
0.43
1.98

-1.55

Omega ratioGain probability vs. loss probability

1.05

1.24

-0.19

Calmar ratioReturn relative to maximum drawdown

0.36

2.09

-1.73

Martin ratioReturn relative to average drawdown

0.74

8.22

-7.48

FSCS vs. EUSA - Sharpe Ratio Comparison

The current FSCS Sharpe Ratio is 0.22, which is lower than the EUSA Sharpe Ratio of 1.36. The chart below compares the historical Sharpe Ratios of FSCS and EUSA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

FSCS vs. EUSA - Drawdown Comparison

The maximum FSCS drawdown since its inception was -43.57%, which is greater than EUSA's maximum drawdown of -39.16%. Use the drawdown chart below to compare losses from any high point for FSCS and EUSA.

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Drawdown Indicators

FSCSEUSADifference

Max Drawdown

Largest peak-to-trough decline

-43.57%

-39.16%

-4.41%

Max Drawdown (1Y)

Largest decline over 1 year

-7.81%

-7.82%

+0.01%

Max Drawdown (3Y)

Largest decline over 3 years

-19.55%

-18.20%

-1.35%

Max Drawdown (5Y)

Largest decline over 5 years

-21.25%

-25.24%

+3.99%

Max Drawdown (10Y)

Largest decline over 10 years

—

-39.16%

—

Current Drawdown

Current decline from peak

-2.30%

-0.71%

-1.59%

Average Drawdown

Average peak-to-trough decline

-5.96%

-4.57%

-1.39%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.74%

1.98%

+1.76%

Volatility

FSCS vs. EUSA - Volatility Comparison

First Trust SMID Capital Strength ETF (FSCS) has a higher volatility of 3.26% compared to iShares MSCI USA Equal Weighted ETF (EUSA) at 3.03%. This indicates that FSCS's price experiences larger fluctuations and is considered to be riskier than EUSA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FSCSEUSADifference

Volatility (1M)

Calculated over the trailing 1-month period

3.26%

3.03%

+0.23%

Volatility (6M)

Calculated over the trailing 6-month period

8.43%

8.94%

-0.51%

Volatility (1Y)

Calculated over the trailing 1-year period

12.45%

12.01%

+0.44%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.04%

16.98%

+1.06%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.11%

18.27%

+2.84%

FSCS vs. EUSA - Expense Ratio Comparison

FSCS has a 0.60% expense ratio, which is higher than EUSA's 0.09% expense ratio.

Dividends

FSCS vs. EUSA - Dividend Comparison

FSCS's dividend yield for the trailing twelve months is around 1.00%, less than EUSA's 1.45% yield.

PositionTTM20252024202320222021202020192018201720162015
EUSA
iShares MSCI USA Equal Weighted ETF		1.45%1.63%1.47%1.53%1.73%1.23%1.45%1.49%2.01%1.50%1.59%2.21%
FSCS
First Trust SMID Capital Strength ETF		1.00%0.75%1.12%1.47%1.71%1.21%1.33%1.68%1.67%0.67%0.00%0.00%

Frequently Asked Questions

FSCS and EUSA have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FSCS has higher volatility (3.26%) compared to EUSA (3.03%). In terms of maximum drawdown, FSCS dropped -43.57% vs EUSA's -39.16%.

On 5-year performance, EUSA leads with 8.07% vs 6.57% for FSCS. On fees, EUSA is cheaper at 0.09% per year. On volatility, EUSA has been the lower-risk option at 3.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, EUSA has performed better with a 8.07% return vs 6.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EUSA is cheaper with a 0.09% expense ratio, compared with 0.60% for FSCS.

EUSA has the higher dividend yield at 1.45%, compared with 1.00% for FSCS.

FSCS tracks SMID Capital Strength Index, while EUSA tracks MSCI USA Equal Weighted Index. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.60% for FSCS and 0.09% for EUSA.

EUSA currently has the higher Sharpe Ratio (1.36 vs 0.22), 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.

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