FSGS vs. IVOG
FSGS (First Trust SMID Growth Strength ETF) and IVOG (Vanguard S&P Mid-Cap 400 Growth ETF) are both Small Cap Growth Equities funds - FSGS tracks the SMID Growth Strength Index while IVOG tracks the S&P MidCap 400 Growth Index. Both are passively managed. Over the past 5 years, FSGS returned 2.54%/yr vs 8.30%/yr for IVOG. A 0.79 correlation means they provide meaningful diversification when combined. FSGS charges 0.60%/yr vs 0.15%/yr for IVOG.
Performance
FSGS vs. IVOG - Performance Comparison
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Returns By Period
In the year-to-date period, FSGS achieves a 1.66% return, which is significantly lower than IVOG's 18.76% return.
FSGS
- 1D
- -0.03%
- 1M
- 0.28%
- YTD
- 1.66%
- 6M
- -0.28%
- 1Y
- 6.33%
- 3Y*
- 7.51%
- 5Y*
- 2.54%
- 10Y*
- —
IVOG
- 1D
- -1.58%
- 1M
- 2.55%
- YTD
- 18.76%
- 6M
- 16.00%
- 1Y
- 29.76%
- 3Y*
- 17.78%
- 5Y*
- 8.30%
- 10Y*
- 11.91%
FSGS vs. IVOG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSGS First Trust SMID Growth Strength ETF | 1.66% | 2.41% | 6.38% | 15.98% | -13.17% | 25.56% | 10.26% | 21.31% | -11.92% | 10.39% |
IVOG Vanguard S&P Mid-Cap 400 Growth ETF | 18.76% | 7.34% | 15.62% | 17.36% | -19.08% | 18.85% | 22.60% | 26.13% | -10.58% | 10.65% |
Correlation
The correlation between FSGS and IVOG is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Jun 22, 2017 | 0.79 |
The correlation between FSGS and IVOG has been stable across timeframes, ranging from 0.79 to 0.87 - a consistent structural relationship.
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Return for Risk
FSGS vs. IVOG — Risk / Return Rank
FSGS
IVOG
FSGS vs. IVOG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust SMID Growth Strength ETF (FSGS) and Vanguard S&P Mid-Cap 400 Growth ETF (IVOG). 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.
| FSGS | IVOG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.27 | ||
| Sortino ratioReturn per unit of downside risk | -1.72 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.30 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 0.56 | 3.09 | -2.52 |
| Martin ratioReturn relative to average drawdown | 1.58 | 12.01 | -10.43 |
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Drawdowns
FSGS vs. IVOG - Drawdown Comparison
The maximum FSGS drawdown since its inception was -43.26%, which is greater than IVOG's maximum drawdown of -39.32%. Use the drawdown chart below to compare losses from any high point for FSGS and IVOG.
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Drawdown Indicators
| FSGS | IVOG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.26% | -39.32% | -3.94% |
Max Drawdown (1Y)Largest decline over 1 year | -11.31% | -9.69% | -1.62% |
Max Drawdown (3Y)Largest decline over 3 years | -24.08% | -25.61% | +1.53% |
Max Drawdown (5Y)Largest decline over 5 years | -24.08% | -29.31% | +5.23% |
Max Drawdown (10Y)Largest decline over 10 years | — | -39.32% | — |
Current DrawdownCurrent decline from peak | -4.36% | -1.58% | -2.78% |
Average DrawdownAverage peak-to-trough decline | -8.00% | -5.86% | -2.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.02% | 2.48% | +1.54% |
Volatility
FSGS vs. IVOG - Volatility Comparison
The current volatility for First Trust SMID Growth Strength ETF (FSGS) is 3.55%, while Vanguard S&P Mid-Cap 400 Growth ETF (IVOG) has a volatility of 5.83%. This indicates that FSGS experiences smaller price fluctuations and is considered to be less risky than IVOG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSGS | IVOG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.55% | 5.83% | -2.28% |
Volatility (6M)Calculated over the trailing 6-month period | 10.87% | 13.89% | -3.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.24% | 17.69% | -2.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.08% | 20.70% | -0.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.76% | 20.61% | +2.15% |
FSGS vs. IVOG - Expense Ratio Comparison
FSGS has a 0.60% expense ratio, which is higher than IVOG's 0.15% expense ratio.
Dividends
FSGS vs. IVOG - Dividend Comparison
FSGS has not paid dividends to shareholders, while IVOG's dividend yield for the trailing twelve months is around 0.54%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSGS First Trust SMID Growth Strength ETF | 0.00% | 0.00% | 2.71% | 2.29% | 1.95% | 1.35% | 1.32% | 1.77% | 2.13% | 1.15% | 0.00% | 0.00% |
IVOG Vanguard S&P Mid-Cap 400 Growth ETF | 0.54% | 0.64% | 0.79% | 1.15% | 1.05% | 0.47% | 0.74% | 1.17% | 1.01% | 0.93% | 1.11% | 1.04% |
Frequently Asked Questions
FSGS and IVOG have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IVOG has higher volatility (5.83%) compared to FSGS (3.55%). In terms of maximum drawdown, FSGS dropped -43.26% vs IVOG's -39.32%.
On 5-year performance, IVOG leads with 8.30% vs 2.54% for FSGS. On fees, IVOG is cheaper at 0.15% per year. On volatility, FSGS 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, IVOG has performed better with a 8.30% return vs 2.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IVOG is cheaper with a 0.15% expense ratio, compared with 0.60% for FSGS.
IVOG has the higher dividend yield at 0.54%, compared with 0.00% for FSGS.
FSGS tracks SMID Growth Strength Index, while IVOG tracks S&P MidCap 400 Growth Index. They also come from different issuers: First Trust and Vanguard. Their fees differ too: 0.60% for FSGS and 0.15% for IVOG.
IVOG currently has the higher Sharpe Ratio (1.69 vs 0.42), 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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