FV vs. MAFIX

Last updated Jun 19, 2026

FV (First Trust Dorsey Wright Focus 5 ETF) and MAFIX (Abbey Capital Multi Asset Fund Class I) are both funds - FV is a Large Cap Growth Equities fund tracking the Dorsey Wright Focus Five Index, while MAFIX is a Multistrategy fund managed by Abbey Capital. Over the past 5 years, FV returned 10.46%/yr vs 8.18%/yr for MAFIX. A 0.64 correlation means they provide meaningful diversification when combined. FV charges 0.87%/yr vs 1.79%/yr for MAFIX.

Performance

FV vs. MAFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Dorsey Wright Focus 5 ETF (FV) and Abbey Capital Multi Asset Fund Class I (MAFIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FV achieves a 15.81% return, which is significantly higher than MAFIX's 9.55% return.

FV

• 1D: 1.35%
• 1M: 4.31%
• YTD: 15.81%
• 6M: 17.37%
• 1Y: 28.02%
• 3Y*: 16.68%
• 5Y*: 10.46%
• 10Y*: 13.23%

MAFIX

• 1D: -0.64%
• 1M: -2.21%
• YTD: 9.55%
• 6M: 11.22%
• 1Y: 29.28%
• 3Y*: 8.51%
• 5Y*: 8.18%
• 10Y*: —

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

FV vs. MAFIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FV First Trust Dorsey Wright Focus 5 ETF	15.81%	7.23%	14.73%	11.34%	-3.93%	21.63%	28.36%	25.73%	-7.17%
MAFIX Abbey Capital Multi Asset Fund Class I	9.55%	8.41%	8.99%	5.02%	4.08%	14.79%	24.89%	21.63%	-1.46%

Correlation

The correlation between FV and MAFIX is 0.65, 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	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (All Time) Calculated using the full available price history since Dec 6, 2018	0.64

The correlation between FV and MAFIX has been stable across timeframes, ranging from 0.63 to 0.65 - a consistent structural relationship.

Return for Risk

FV vs. MAFIX — Risk / Return Rank

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

FV

FV Risk / Return Rank: 50
FV Sharpe Ratio Rank: 55
FV Sortino Ratio Rank: 51
FV Omega Ratio Rank: 52
FV Calmar Ratio Rank: 44
FV Martin Ratio Rank: 49

MAFIX

MAFIX Risk / Return Rank: 75
MAFIX Sharpe Ratio Rank: 76
MAFIX Sortino Ratio Rank: 68
MAFIX Omega Ratio Rank: 65
MAFIX Calmar Ratio Rank: 88
MAFIX Martin Ratio Rank: 80

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.

FV vs. MAFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Dorsey Wright Focus 5 ETF (FV) and Abbey Capital Multi Asset Fund Class I (MAFIX). 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.

	FV	MAFIX	Difference
Sharpe ratio: Return per unit of total volatility	1.76	2.29	-0.53
Sortino ratio: Return per unit of downside risk	2.38	3.07	-0.69
Omega ratio: Gain probability vs. loss probability	1.31	1.40	-0.09
Calmar ratio: Return relative to maximum drawdown	2.09	4.00	-1.91
Martin ratio: Return relative to average drawdown	7.80	13.61	-5.81

FV vs. MAFIX - Sharpe Ratio Comparison

The current FV Sharpe Ratio is 1.76, which is comparable to the MAFIX Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of FV and MAFIX, 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

FV vs. MAFIX - Drawdown Comparison

The maximum FV drawdown since its inception was -34.04%, which is greater than MAFIX's maximum drawdown of -19.21%. Use the drawdown chart below to compare losses from any high point for FV and MAFIX.

Drawdown Indicators

	FV	MAFIX	Difference
Max Drawdown Largest peak-to-trough decline	-34.04%	-19.21%	-14.83%
Max Drawdown (1Y) Largest decline over 1 year	-13.45%	-7.26%	-6.19%
Max Drawdown (3Y) Largest decline over 3 years	-23.08%	-19.21%	-3.87%
Max Drawdown (5Y) Largest decline over 5 years	-23.08%	-19.21%	-3.87%
Max Drawdown (10Y) Largest decline over 10 years	-34.04%	—	—
Current Drawdown Current decline from peak	-2.04%	-3.50%	+1.46%
Average Drawdown Average peak-to-trough decline	-5.81%	-3.41%	-2.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.60%	2.13%	+1.47%

Volatility

FV vs. MAFIX - Volatility Comparison

First Trust Dorsey Wright Focus 5 ETF (FV) has a higher volatility of 6.26% compared to Abbey Capital Multi Asset Fund Class I (MAFIX) at 3.66%. This indicates that FV's price experiences larger fluctuations and is considered to be riskier than MAFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FV	MAFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.26%	3.66%	+2.60%
Volatility (6M) Calculated over the trailing 6-month period	13.51%	9.32%	+4.19%
Volatility (1Y) Calculated over the trailing 1-year period	15.99%	12.73%	+3.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.88%	12.35%	+8.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.48%	12.86%	+8.62%

FV vs. MAFIX - Expense Ratio Comparison

FV has a 0.87% expense ratio, which is lower than MAFIX's 1.79% expense ratio.

Dividends

FV vs. MAFIX - Dividend Comparison

FV's dividend yield for the trailing twelve months is around 0.53%, less than MAFIX's 10.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FV First Trust Dorsey Wright Focus 5 ETF	0.53%	0.63%	0.14%	0.47%	1.38%	0.11%	0.06%	0.56%	0.19%	0.67%	0.95%	0.14%
MAFIX Abbey Capital Multi Asset Fund Class I	10.75%	11.78%	4.57%	3.80%	4.12%	10.65%	10.29%	12.30%	9.36%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FV and MAFIX in my portfolio?

FV and MAFIX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FV or MAFIX?

FV has higher volatility (6.26%) compared to MAFIX (3.66%). In terms of maximum drawdown, FV dropped -34.04% vs MAFIX's -19.21%.

Which has better risk-adjusted returns?

MAFIX currently has the higher Sharpe Ratio (2.29 vs 1.76), 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.