FSCS vs. PEXL

Last updated Jun 25, 2026

FSCS (First Trust SMID Capital Strength ETF) and PEXL (Pacer US Export Leaders ETF) are both Mid Cap Blend Equities funds - FSCS tracks the SMID Capital Strength Index while PEXL tracks the Pacer US Export Leaders Index. Both are passively managed. Over the past 5 years, FSCS returned 6.11%/yr vs 12.34%/yr for PEXL. A 0.77 correlation means they provide meaningful diversification when combined. Both charge a 0.60% expense ratio.

Performance

FSCS vs. PEXL - Performance Comparison

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

Returns By Period

In the year-to-date period, FSCS achieves a 2.47% return, which is significantly lower than PEXL's 19.33% return.

FSCS

• 1D: 1.07%
• 1M: 2.48%
• YTD: 2.47%
• 6M: 0.63%
• 1Y: 2.92%
• 3Y*: 11.03%
• 5Y*: 6.11%
• 10Y*: —

PEXL

• 1D: -0.25%
• 1M: 2.16%
• YTD: 19.33%
• 6M: 17.93%
• 1Y: 43.06%
• 3Y*: 20.58%
• 5Y*: 12.34%
• 10Y*: —

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

FSCS vs. PEXL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FSCS First Trust SMID Capital Strength ETF	2.47%	1.77%	14.98%	16.81%	-9.11%	26.08%	5.71%	28.00%	-15.44%
PEXL Pacer US Export Leaders ETF	19.33%	27.33%	5.79%	24.40%	-20.41%	30.12%	25.02%	39.86%	-17.19%

Correlation

The correlation between FSCS and PEXL is 0.54, 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	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (All Time) Calculated using the full available price history since Jul 24, 2018	0.77

Over the past year, the correlation between FSCS and PEXL has dropped to 0.54 - well below their long-term average of 0.77, suggesting their price drivers have been diverging.

FSCS vs. PEXL - Sectors Allocation Comparison

Sectors	FSCS	PEXL
Financial Services	25.7%	-
Industrials	23.8%	6.1%
Consumer Defensive	12.9%	5.9%
Consumer Cyclical	11.9%	3.8%
Technology	5.9%	58.8%
Healthcare	5.0%	6.8%
Real Estate	5.0%	-
Basic Materials	3.0%	3.8%
Energy	3.0%	0.9%
Communication Services	2.0%	13.9%
Utilities	1.0%	-

Return for Risk

FSCS vs. PEXL — Risk / Return Rank

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

FSCS

FSCS Risk / Return Rank: 12
FSCS Sharpe Ratio Rank: 12
FSCS Sortino Ratio Rank: 11
FSCS Omega Ratio Rank: 11
FSCS Calmar Ratio Rank: 13
FSCS Martin Ratio Rank: 12

PEXL

PEXL Risk / Return Rank: 79
PEXL Sharpe Ratio Rank: 80
PEXL Sortino Ratio Rank: 76
PEXL Omega Ratio Rank: 73
PEXL Calmar Ratio Rank: 80
PEXL Martin Ratio Rank: 85

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. PEXL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust SMID Capital Strength ETF (FSCS) and Pacer US Export Leaders ETF (PEXL). 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.

	FSCS	PEXL	Difference
Sharpe ratio: Return per unit of total volatility	0.23	2.25	-2.02
Sortino ratio: Return per unit of downside risk	0.45	3.00	-2.55
Omega ratio: Gain probability vs. loss probability	1.05	1.38	-0.33
Calmar ratio: Return relative to maximum drawdown	0.38	3.79	-3.41
Martin ratio: Return relative to average drawdown	0.78	15.61	-14.82

FSCS vs. PEXL - Sharpe Ratio Comparison

The current FSCS Sharpe Ratio is 0.23, which is lower than the PEXL Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of FSCS and PEXL, 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

FSCS vs. PEXL - Drawdown Comparison

The maximum FSCS drawdown since its inception was -43.57%, which is greater than PEXL's maximum drawdown of -36.76%. Use the drawdown chart below to compare losses from any high point for FSCS and PEXL.

Drawdown Indicators

	FSCS	PEXL	Difference
Max Drawdown Largest peak-to-trough decline	-43.57%	-36.76%	-6.81%
Max Drawdown (1Y) Largest decline over 1 year	-7.81%	-11.43%	+3.62%
Max Drawdown (3Y) Largest decline over 3 years	-19.55%	-24.72%	+5.17%
Max Drawdown (5Y) Largest decline over 5 years	-21.25%	-30.44%	+9.19%
Current Drawdown Current decline from peak	-3.55%	-3.61%	+0.06%
Average Drawdown Average peak-to-trough decline	-5.98%	-6.69%	+0.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.75%	2.77%	+0.98%

Volatility

FSCS vs. PEXL - Volatility Comparison

The current volatility for First Trust SMID Capital Strength ETF (FSCS) is 3.14%, while Pacer US Export Leaders ETF (PEXL) has a volatility of 8.67%. This indicates that FSCS experiences smaller price fluctuations and is considered to be less risky than PEXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSCS	PEXL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.14%	8.67%	-5.53%
Volatility (6M) Calculated over the trailing 6-month period	8.44%	14.90%	-6.46%
Volatility (1Y) Calculated over the trailing 1-year period	12.57%	19.24%	-6.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.05%	22.11%	-4.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.15%	24.12%	-2.97%

FSCS vs. PEXL - Expense Ratio Comparison

Both FSCS and PEXL have an expense ratio of 0.60%.

Dividends

FSCS vs. PEXL - Dividend Comparison

FSCS's dividend yield for the trailing twelve months is around 0.88%, more than PEXL's 0.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSCS First Trust SMID Capital Strength ETF	0.88%	0.75%	1.12%	1.47%	1.71%	1.21%	1.33%	1.68%	1.67%	0.67%
PEXL Pacer US Export Leaders ETF	0.30%	0.44%	0.48%	0.48%	0.60%	0.22%	0.48%	0.49%	0.29%	0.00%

Frequently Asked Questions

Can I hold both FSCS and PEXL in my portfolio?

FSCS and PEXL have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSCS or PEXL?

PEXL has higher volatility (8.67%) compared to FSCS (3.14%). In terms of maximum drawdown, FSCS dropped -43.57% vs PEXL's -36.76%.

Which ETF is better, FSCS or PEXL?

On 5-year performance, PEXL leads with 12.34% vs 6.11% for FSCS. Both ETFs have the same 0.60% expense ratio. On volatility, FSCS has been the lower-risk option at 3.14%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FSCS or PEXL?

Over the 5-year period, PEXL has performed better with a 12.34% return vs 6.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FSCS or PEXL?

FSCS and PEXL have the same expense ratio: 0.60% per year.

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

FSCS has the higher dividend yield at 0.88%, compared with 0.30% for PEXL.

What is the main difference between FSCS and PEXL?

FSCS tracks SMID Capital Strength Index, while PEXL tracks Pacer US Export Leaders Index. They also come from different issuers: First Trust and Pacer.

Which has better risk-adjusted returns?

PEXL currently has the higher Sharpe Ratio (2.25 vs 0.23), 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.