FTC vs. FNCMX

Last updated Jun 24, 2026

FTC (First Trust Large Cap Growth AlphaDEX Fund) and FNCMX (Fidelity NASDAQ Composite Index Fund) are both Large Cap Growth Equities funds - FTC tracks the NASDAQ AlphaDEX Large Cap Growth Index while FNCMX tracks the Nasdaq Composite Index. Both are passively managed. Over the past 10 years, FTC returned 15.10%/yr vs 19.62%/yr for FNCMX. Their correlation of 0.86 suggests significant overlap in exposure. FTC charges 0.60%/yr vs 0.29%/yr for FNCMX.

Performance

FTC vs. FNCMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Large Cap Growth AlphaDEX Fund (FTC) and Fidelity NASDAQ Composite Index Fund (FNCMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTC achieves a 17.71% return, which is significantly higher than FNCMX's 12.94% return. Over the past 10 years, FTC has underperformed FNCMX with an annualized return of 15.10%, while FNCMX has yielded a comparatively higher 19.62% annualized return.

FTC

• 1D: -3.10%
• 1M: 4.86%
• YTD: 17.71%
• 6M: 15.58%
• 1Y: 28.99%
• 3Y*: 24.94%
• 5Y*: 12.15%
• 10Y*: 15.10%

FNCMX

• 1D: -1.31%
• 1M: -0.56%
• YTD: 12.94%
• 6M: 11.41%
• 1Y: 34.15%
• 3Y*: 25.67%
• 5Y*: 13.84%
• 10Y*: 19.62%

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

FTC vs. FNCMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FTC First Trust Large Cap Growth AlphaDEX Fund	17.71%	15.89%	26.60%	20.72%	-23.28%	24.43%	33.35%	28.07%	-6.03%	25.32%
FNCMX Fidelity NASDAQ Composite Index Fund	12.94%	21.11%	29.48%	45.13%	-32.40%	22.21%	44.57%	36.63%	-3.07%	28.35%

Correlation

The correlation between FTC and FNCMX is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since May 11, 2007	0.86

The correlation between FTC and FNCMX has been stable across timeframes, ranging from 0.80 to 0.86 - a consistent structural relationship.

Return for Risk

FTC vs. FNCMX — Risk / Return Rank

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

FTC

FTC Risk / Return Rank: 50
FTC Sharpe Ratio Rank: 43
FTC Sortino Ratio Rank: 42
FTC Omega Ratio Rank: 42
FTC Calmar Ratio Rank: 59
FTC Martin Ratio Rank: 62

FNCMX

FNCMX Risk / Return Rank: 53
FNCMX Sharpe Ratio Rank: 56
FNCMX Sortino Ratio Rank: 49
FNCMX Omega Ratio Rank: 50
FNCMX Calmar Ratio Rank: 56
FNCMX Martin Ratio Rank: 54

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.

FTC vs. FNCMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Large Cap Growth AlphaDEX Fund (FTC) and Fidelity NASDAQ Composite Index Fund (FNCMX). 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.

	FTC	FNCMX	Difference
Sharpe ratio: Return per unit of total volatility	1.47	2.04	-0.57
Sortino ratio: Return per unit of downside risk	2.04	2.69	-0.65
Omega ratio: Gain probability vs. loss probability	1.26	1.36	-0.09
Calmar ratio: Return relative to maximum drawdown	2.81	2.74	+0.07
Martin ratio: Return relative to average drawdown	10.54	10.40	+0.14

FTC vs. FNCMX - Sharpe Ratio Comparison

The current FTC Sharpe Ratio is 1.47, which is comparable to the FNCMX Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of FTC and FNCMX, 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

FTC vs. FNCMX - Drawdown Comparison

The maximum FTC drawdown since its inception was -54.05%, roughly equal to the maximum FNCMX drawdown of -55.08%. Use the drawdown chart below to compare losses from any high point for FTC and FNCMX.

Drawdown Indicators

	FTC	FNCMX	Difference
Max Drawdown Largest peak-to-trough decline	-54.05%	-55.08%	+1.03%
Max Drawdown (1Y) Largest decline over 1 year	-10.36%	-13.01%	+2.65%
Max Drawdown (3Y) Largest decline over 3 years	-21.41%	-24.20%	+2.79%
Max Drawdown (5Y) Largest decline over 5 years	-31.18%	-35.64%	+4.46%
Max Drawdown (10Y) Largest decline over 10 years	-34.66%	-35.64%	+0.98%
Current Drawdown Current decline from peak	-3.10%	-3.32%	+0.22%
Average Drawdown Average peak-to-trough decline	-9.30%	-7.85%	-1.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.76%	3.42%	-0.66%

Volatility

FTC vs. FNCMX - Volatility Comparison

First Trust Large Cap Growth AlphaDEX Fund (FTC) has a higher volatility of 9.31% compared to Fidelity NASDAQ Composite Index Fund (FNCMX) at 7.36%. This indicates that FTC's price experiences larger fluctuations and is considered to be riskier than FNCMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTC	FNCMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.31%	7.36%	+1.95%
Volatility (6M) Calculated over the trailing 6-month period	16.18%	13.73%	+2.45%
Volatility (1Y) Calculated over the trailing 1-year period	19.86%	17.48%	+2.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.18%	22.65%	-2.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.60%	22.15%	-1.55%

FTC vs. FNCMX - Expense Ratio Comparison

FTC has a 0.60% expense ratio, which is higher than FNCMX's 0.29% expense ratio.

Dividends

FTC vs. FNCMX - Dividend Comparison

FTC's dividend yield for the trailing twelve months is around 0.18%, less than FNCMX's 0.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNCMX Fidelity NASDAQ Composite Index Fund	0.46%	0.51%	0.61%	0.67%	0.88%	0.47%	0.67%	4.41%	1.93%	0.03%	1.01%	1.50%
FTC First Trust Large Cap Growth AlphaDEX Fund	0.18%	0.20%	0.32%	0.65%	0.90%	0.00%	0.40%	0.64%	0.35%	0.40%	0.86%	0.52%

Frequently Asked Questions

Can I hold both FTC and FNCMX in my portfolio?

FTC and FNCMX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FTC or FNCMX?

FTC has higher volatility (9.31%) compared to FNCMX (7.36%). In terms of maximum drawdown, FTC dropped -54.05% vs FNCMX's -55.08%.

Which has better risk-adjusted returns?

FNCMX currently has the higher Sharpe Ratio (2.04 vs 1.47), 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.