FVC vs. AIRR
FVC (First Trust Dorsey Wright Dynamic Focus 5 ETF) and AIRR (First Trust RBA American Industrial Renaissance ETF) are both exchange-traded funds - FVC is a Hedge Fund fund tracking the Dorsey Wright Dynamic Focus Five Index, while AIRR is a Building & Construction fund tracking the Richard Bernstein Advisors American Industrial Renaissance Index. Both are passively managed. Over the past 10 years, FVC returned 8.56%/yr vs 22.14%/yr for AIRR. A 0.68 correlation means they provide meaningful diversification when combined. FVC charges 0.71%/yr vs 0.69%/yr for AIRR.
Performance
FVC vs. AIRR - Performance Comparison
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Returns By Period
In the year-to-date period, FVC achieves a 14.86% return, which is significantly lower than AIRR's 32.79% return. Over the past 10 years, FVC has underperformed AIRR with an annualized return of 8.56%, while AIRR has yielded a comparatively higher 22.14% annualized return.
FVC
- 1D
- -0.05%
- 1M
- 1.47%
- YTD
- 14.86%
- 6M
- 13.30%
- 1Y
- 20.47%
- 3Y*
- 9.81%
- 5Y*
- 4.32%
- 10Y*
- 8.56%
AIRR
- 1D
- 0.74%
- 1M
- 4.33%
- YTD
- 32.79%
- 6M
- 28.48%
- 1Y
- 62.89%
- 3Y*
- 37.01%
- 5Y*
- 26.09%
- 10Y*
- 22.14%
FVC vs. AIRR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FVC First Trust Dorsey Wright Dynamic Focus 5 ETF | 14.86% | 2.12% | 12.43% | -4.59% | -6.03% | 21.92% | 12.71% | 19.28% | -8.60% | 19.74% |
AIRR First Trust RBA American Industrial Renaissance ETF | 32.79% | 27.92% | 33.45% | 31.43% | -2.08% | 33.01% | 17.17% | 33.97% | -20.57% | 16.28% |
Correlation
The correlation between FVC and AIRR is 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.70 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since Mar 18, 2016 | 0.68 |
The correlation between FVC and AIRR has been stable across timeframes, ranging from 0.68 to 0.72 - a consistent structural relationship.
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Return for Risk
FVC vs. AIRR — Risk / Return Rank
FVC
AIRR
FVC vs. AIRR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Dorsey Wright Dynamic Focus 5 ETF (FVC) and First Trust RBA American Industrial Renaissance ETF (AIRR). 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.
| FVC | AIRR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.97 | ||
| Sortino ratioReturn per unit of downside risk | -1.12 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.38 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.54 | 4.83 | -3.29 |
| Martin ratioReturn relative to average drawdown | 6.00 | 17.62 | -11.62 |
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Drawdowns
FVC vs. AIRR - Drawdown Comparison
The maximum FVC drawdown since its inception was -30.96%, smaller than the maximum AIRR drawdown of -42.37%. Use the drawdown chart below to compare losses from any high point for FVC and AIRR.
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Drawdown Indicators
| FVC | AIRR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.96% | -42.37% | +11.41% |
Max Drawdown (1Y)Largest decline over 1 year | -13.32% | -13.09% | -0.23% |
Max Drawdown (3Y)Largest decline over 3 years | -14.75% | -27.95% | +13.20% |
Max Drawdown (5Y)Largest decline over 5 years | -22.62% | -27.95% | +5.33% |
Max Drawdown (10Y)Largest decline over 10 years | -30.96% | -42.37% | +11.41% |
Current DrawdownCurrent decline from peak | -2.17% | -2.08% | -0.09% |
Average DrawdownAverage peak-to-trough decline | -7.03% | -7.46% | +0.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.42% | 3.58% | -0.16% |
Volatility
FVC vs. AIRR - Volatility Comparison
The current volatility for First Trust Dorsey Wright Dynamic Focus 5 ETF (FVC) is 6.76%, while First Trust RBA American Industrial Renaissance ETF (AIRR) has a volatility of 8.81%. This indicates that FVC experiences smaller price fluctuations and is considered to be less risky than AIRR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FVC | AIRR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.76% | 8.81% | -2.05% |
Volatility (6M)Calculated over the trailing 6-month period | 13.66% | 20.61% | -6.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.35% | 26.36% | -12.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.49% | 25.43% | -8.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.68% | 26.33% | -8.65% |
FVC vs. AIRR - Expense Ratio Comparison
FVC has a 0.71% expense ratio, which is higher than AIRR's 0.69% expense ratio.
Dividends
FVC vs. AIRR - Dividend Comparison
FVC's dividend yield for the trailing twelve months is around 1.96%, more than AIRR's 0.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AIRR First Trust RBA American Industrial Renaissance ETF | 0.13% | 0.19% | 0.18% | 0.23% | 0.12% | 0.05% | 0.10% | 0.20% | 0.43% | 0.30% | 0.08% | 0.47% |
FVC First Trust Dorsey Wright Dynamic Focus 5 ETF | 1.96% | 2.57% | 0.78% | 1.89% | 1.50% | 0.09% | 0.21% | 1.07% | 0.24% | 0.63% | 0.67% | 0.00% |
Frequently Asked Questions
FVC and AIRR have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AIRR has higher volatility (8.81%) compared to FVC (6.76%). In terms of maximum drawdown, FVC dropped -30.96% vs AIRR's -42.37%.
On 10-year performance, AIRR leads with 22.14% vs 8.56% for FVC. On fees, AIRR is cheaper at 0.69% per year. On volatility, FVC has been the lower-risk option at 6.76%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, AIRR has performed better with a 22.14% return vs 8.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AIRR is cheaper with a 0.69% expense ratio, compared with 0.71% for FVC.
FVC has the higher dividend yield at 1.96%, compared with 0.13% for AIRR.
FVC is categorized as Hedge Fund, while AIRR is Building & Construction. FVC tracks Dorsey Wright Dynamic Focus Five Index, while AIRR tracks Richard Bernstein Advisors American Industrial Renaissance Index. Their fees differ too: 0.71% for FVC and 0.69% for AIRR.
AIRR currently has the higher Sharpe Ratio (2.40 vs 1.43), 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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