FTC vs. MSDD

Last updated Jun 4, 2026

FTC (First Trust Large Cap Growth AlphaDEX Fund) and MSDD (GraniteShares 2x Short MSTR Daily ETF) are both exchange-traded funds - FTC is a Large Cap Growth Equities fund tracking the NASDAQ AlphaDEX Large Cap Growth Index, while MSDD is a Inverse Equities fund actively managed by GraniteShares. FTC is passively managed, while MSDD is actively managed. At a correlation of -0.49, they often move in opposite directions. FTC charges 0.60%/yr vs 1.50%/yr for MSDD.

Performance

FTC vs. MSDD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Large Cap Growth AlphaDEX Fund (FTC) and GraniteShares 2x Short MSTR Daily ETF (MSDD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTC achieves a 17.25% return, which is significantly higher than MSDD's -47.16% return.

FTC

• 1D: -0.03%
• 1M: 9.21%
• YTD: 17.25%
• 6M: 17.16%
• 1Y: 29.07%
• 3Y*: 25.57%
• 5Y*: 13.04%
• 10Y*: 14.85%

MSDD

• 1D: 13.67%
• 1M: 85.18%
• YTD: -47.16%
• 6M: -24.30%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FTC vs. MSDD - Yearly Performance Comparison

	2026 (YTD)	2025
FTC First Trust Large Cap Growth AlphaDEX Fund	17.25%	10.46%
MSDD GraniteShares 2x Short MSTR Daily ETF	-47.16%	271.43%

Correlation

The correlation between FTC and MSDD is -0.49, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 11, 2025	-0.49

FTC vs. MSDD - Sectors Allocation Comparison

Sectors	FTC	MSDD
Technology	31.3%	200.1%
Industrials	29.7%	-
Consumer Cyclical	10.1%	-
Healthcare	9.0%	-
Financial Services	6.7%	-
Basic Materials	3.3%	-
Communication Services	2.5%	-
Utilities	2.2%	-
Real Estate	2.2%	-
Consumer Defensive	2.0%	-
Energy	0.9%	-

Return for Risk

FTC vs. MSDD — 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: 46
FTC Sortino Ratio Rank: 44
FTC Omega Ratio Rank: 43
FTC Calmar Ratio Rank: 56
FTC Martin Ratio Rank: 60

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. MSDD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Large Cap Growth AlphaDEX Fund (FTC) and GraniteShares 2x Short MSTR Daily ETF (MSDD). 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.

	FTC	MSDD	Difference
Sharpe ratio: Return per unit of total volatility	1.62	—	—
Sortino ratio: Return per unit of downside risk	2.24	—	—
Omega ratio: Gain probability vs. loss probability	1.28	—	—
Calmar ratio: Return relative to maximum drawdown	2.82	—	—
Martin ratio: Return relative to average drawdown	10.83	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FTC	MSDD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.62	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.70	-0.18

Drawdowns

FTC vs. MSDD - Drawdown Comparison

The maximum FTC drawdown since its inception was -54.05%, smaller than the maximum MSDD drawdown of -84.91%. Use the drawdown chart below to compare losses from any high point for FTC and MSDD.

Drawdown Indicators

	FTC	MSDD	Difference
Max Drawdown Largest peak-to-trough decline	-54.05%	-84.91%	+30.86%
Max Drawdown (1Y) Largest decline over 1 year	-10.36%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-21.41%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-31.18%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-34.66%	—	—
Current Drawdown Current decline from peak	-0.03%	-67.67%	+67.64%
Average Drawdown Average peak-to-trough decline	-9.32%	-29.42%	+20.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.69%	—	—

Volatility

Volatility by Period

	FTC	MSDD	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.65%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.24%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	18.02%	141.56%	-123.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.85%	141.56%	-121.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.45%	141.56%	-121.11%

FTC vs. MSDD - Expense Ratio Comparison

FTC has a 0.60% expense ratio, which is lower than MSDD's 1.50% expense ratio.

Dividends

FTC vs. MSDD - Dividend Comparison

FTC's dividend yield for the trailing twelve months is around 0.18%, while MSDD has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
MSDD GraniteShares 2x Short MSTR Daily ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FTC and MSDD in my portfolio?

FTC and MSDD have a correlation of -0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FTC or MSDD?

On fees, FTC is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FTC or MSDD?

FTC is cheaper with a 0.60% expense ratio, compared with 1.50% for MSDD.

Which ETF pays a higher dividend yield, FTC or MSDD?

FTC has the higher dividend yield at 0.18%, compared with 0.00% for MSDD.

What is the main difference between FTC and MSDD?

FTC is categorized as Large Cap Growth Equities, while MSDD is Inverse Equities. They also come from different issuers: First Trust and GraniteShares. Their fees differ too: 0.60% for FTC and 1.50% for MSDD.