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FSCS vs. TUSA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FSCS vs. TUSA

Last updated Aug 2, 2026
Documentation

FSCS (First Trust SMID Capital Strength ETF) and TUSA (First Trust Total US Market AlphaDEX ETF) are both Mid Cap Blend Equities funds from First Trust - FSCS tracks the SMID Capital Strength Index while TUSA tracks the NASDAQ AlphaDEX Total US Market Index. Both are passively managed. Over the past 5 years, FSCS returned 6.49%/yr vs 8.13%/yr for TUSA. Their 0.75 correlation means they have sometimes moved together and sometimes differently. FSCS charges 0.60%/yr vs 0.70%/yr for TUSA.

Performance

FSCS vs. TUSA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust SMID Capital Strength ETF (FSCS) and First Trust Total US Market AlphaDEX ETF (TUSA). 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 5.33% return, which is significantly lower than TUSA's 15.08% return.

FSCS

1D
-0.10%
1M
0.73%
6M
2.50%
YTD
5.33%
1Y
6.10%
3Y*
9.17%
5Y*
6.49%
10Y*
—
ALL TIME*
8.87%

TUSA

1D
0.31%
1M
4.00%
6M
8.67%
YTD
15.08%
1Y
24.87%
3Y*
15.10%
5Y*
8.13%
10Y*
11.18%
ALL TIME*
6.70%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

FSCS

First Trust SMID Capital Strength ETF
$142.63K$149.23K$210.39K

TUSA

First Trust Total US Market AlphaDEX ETF
$146.70K$150.71K$191.32K

FSCS vs. TUSA - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FSCS
First Trust SMID Capital Strength ETF		5.33%1.77%14.98%16.81%-9.11%26.08%5.71%28.00%-12.85%11.41%
TUSA
First Trust Total US Market AlphaDEX ETF		15.08%13.64%11.12%11.75%-13.54%24.79%14.16%24.29%-10.35%12.18%

Correlation

The correlation between FSCS and TUSA is 0.79, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.79

Correlation (3Y)
Balances recent behavior with more history.

0.85

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.86

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

0.75

The correlation between FSCS and TUSA shifts across timeframes, from 0.75 (all time) to 0.86 (5 years), reflecting how their relationship changes across market environments.

FSCS vs. TUSA - Sectors Allocation Comparison

Sectors
FSCS
TUSA

Financial Services

28.7%
26.3%

Industrials

26.7%
21.1%

Consumer Defensive

13.9%
10.5%

Consumer Cyclical

8.9%
5.3%

Basic Materials

5.9%
14.1%

Healthcare

5.9%
5.3%

Technology

4.0%
15.8%

Communication Services

2.0%
5.3%

Energy

2.0%
1.9%

Real Estate

1.0%
10.5%

Utilities

1.0%
7.5%

Financial Services

FSCS
28.7%
TUSA
26.3%

Industrials

FSCS
26.7%
TUSA
21.1%

Consumer Defensive

FSCS
13.9%
TUSA
10.5%

Consumer Cyclical

FSCS
8.9%
TUSA
5.3%

Basic Materials

FSCS
5.9%
TUSA
14.1%

Healthcare

FSCS
5.9%
TUSA
5.3%

Technology

FSCS
4.0%
TUSA
15.8%

Communication Services

FSCS
2.0%
TUSA
5.3%

Energy

FSCS
2.0%
TUSA
1.9%

Real Estate

FSCS
1.0%
TUSA
10.5%

Utilities

FSCS
1.0%
TUSA
7.5%

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

First Trust Total US Market AlphaDEX ETF

Often compared with FSCS:
FSCS vs. NOIEXFSCS vs. LSAFFSCS vs. AIRRFSCS vs. EPUFSCS vs. CIBRFSCS vs. IGLDFSCS vs. FDL
Often compared with TUSA:
TUSA vs. FTDSTUSA vs. PWCTUSA vs. CTEFTUSA vs. CSDTUSA vs. EPUTUSA vs. MOOTUSA vs. QQQ

Return for Risk

FSCS vs. TUSA — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
FSCS
FSCS Risk / Return Rank: 2121
Overall Rank
FSCS Sharpe Ratio Rank: 2121
Sharpe Ratio Rank
FSCS Sortino Ratio Rank: 2020
Sortino Ratio Rank
FSCS Omega Ratio Rank: 1919
Omega Ratio Rank
FSCS Calmar Ratio Rank: 2323
Calmar Ratio Rank
FSCS Martin Ratio Rank: 2121
Martin Ratio Rank
TUSA
TUSA Risk / Return Rank: 8181
Overall Rank
TUSA Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
TUSA Sortino Ratio Rank: 8484
Sortino Ratio Rank
TUSA Omega Ratio Rank: 7878
Omega Ratio Rank
TUSA Calmar Ratio Rank: 8888
Calmar Ratio Rank
TUSA Martin Ratio Rank: 7575
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FSCS vs. TUSA - 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 Total US Market AlphaDEX ETF (TUSA). 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.

FSCSTUSADifference
Sharpe ratioReturn per unit of total volatility
0.41
1.86

-1.45

Sortino ratioReturn per unit of downside risk
0.71
2.76

-2.05

Omega ratioGain probability vs. loss probability

1.08

1.33

-0.25

Calmar ratioReturn relative to maximum drawdown

0.66

3.61

-2.96

Martin ratioReturn relative to average drawdown

1.37

9.38

-8.01

FSCS vs. TUSA - Sharpe Ratio Comparison

The current FSCS Sharpe Ratio is 0.41, which is lower than the TUSA Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of FSCS and TUSA, 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. TUSA - Drawdown Comparison

The maximum FSCS drawdown since its inception was -43.57%, smaller than the maximum TUSA drawdown of -56.53%. Use the drawdown chart below to compare losses from any high point for FSCS and TUSA.

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Drawdown Indicators

FSCSTUSADifference

Max Drawdown

Largest peak-to-trough decline

-43.57%

-56.53%

+12.96%

Max Drawdown (1Y)

Largest decline over 1 year

-7.81%

-6.57%

-1.24%

Max Drawdown (3Y)

Largest decline over 3 years

-19.55%

-18.04%

-1.51%

Max Drawdown (5Y)

Largest decline over 5 years

-21.25%

-23.35%

+2.10%

Max Drawdown (10Y)

Largest decline over 10 years

—

-42.47%

—

Current Drawdown

Current decline from peak

-2.12%

-0.74%

-1.38%

Average Drawdown

Average peak-to-trough decline

-5.93%

-9.81%

+3.88%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.74%

2.53%

+1.21%

Volatility

FSCS vs. TUSA - Volatility Comparison

First Trust SMID Capital Strength ETF (FSCS) has a higher volatility of 4.22% compared to First Trust Total US Market AlphaDEX ETF (TUSA) at 3.55%. This indicates that FSCS's price experiences larger fluctuations and is considered to be riskier than TUSA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FSCSTUSADifference

Volatility (1M)

Calculated over the trailing 1-month period

4.22%

3.55%

+0.67%

Volatility (6M)

Calculated over the trailing 6-month period

8.76%

8.28%

+0.48%

Volatility (1Y)

Calculated over the trailing 1-year period

12.55%

12.81%

-0.26%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.98%

17.52%

+0.46%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.08%

20.05%

+1.03%

FSCS vs. TUSA - Expense Ratio Comparison

FSCS has a 0.60% expense ratio, which is lower than TUSA's 0.70% expense ratio.

Dividends

FSCS vs. TUSA - Dividend Comparison

FSCS's dividend yield for the trailing twelve months is around 0.98%, less than TUSA's 1.53% yield.

PositionTTM20252024202320222021202020192018201720162015
FSCS
First Trust SMID Capital Strength ETF		0.98%0.75%1.12%1.47%1.71%1.21%1.33%1.68%1.67%0.67%0.00%0.00%
TUSA
First Trust Total US Market AlphaDEX ETF		1.53%1.59%2.05%2.15%2.31%0.72%0.99%1.13%1.14%0.79%1.24%0.95%

Frequently Asked Questions

FSCS and TUSA have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FSCS has higher volatility (4.22%) compared to TUSA (3.55%). In terms of maximum drawdown, FSCS dropped -43.57% vs TUSA's -56.53%.

On 5-year performance, TUSA leads with 8.13% vs 6.49% for FSCS. On fees, FSCS is cheaper at 0.60% per year. On volatility, TUSA has been the lower-risk option at 3.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, TUSA has performed better with a 8.13% return vs 6.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

FSCS is cheaper with a 0.60% expense ratio, compared with 0.70% for TUSA.

TUSA has the higher dividend yield at 1.53%, compared with 0.98% for FSCS.

FSCS tracks SMID Capital Strength Index, while TUSA tracks NASDAQ AlphaDEX Total US Market Index. Their fees differ too: 0.60% for FSCS and 0.70% for TUSA.

TUSA currently has the higher Sharpe Ratio (1.86 vs 0.41), 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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