FYC vs. FSMD
Compare and contrast key facts about First Trust Small Cap Growth AlphaDEX Fund (FYC) and Fidelity Small-Mid Multifactor ETF (FSMD).
FYC and FSMD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FYC is a passively managed fund by First Trust that tracks the performance of the NASDAQ AlphaDEX Small Cap Growth Index. It was launched on Apr 19, 2011. FSMD is a passively managed fund by Fidelity that tracks the performance of the Fidelity Small-Mid Multifactor Index. It was launched on Feb 26, 2019. Both FYC and FSMD are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
FYC vs. FSMD - Performance Comparison
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FYC vs. FSMD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FYC First Trust Small Cap Growth AlphaDEX Fund | 0.90% | 24.24% | 23.99% | 14.52% | -25.86% | 21.64% | 32.34% | 0.29% |
FSMD Fidelity Small-Mid Multifactor ETF | 1.72% | 8.70% | 15.18% | 17.37% | -11.15% | 26.40% | 8.94% | 8.81% |
Returns By Period
In the year-to-date period, FYC achieves a 0.90% return, which is significantly lower than FSMD's 1.72% return.
FYC
- 1D
- 4.40%
- 1M
- -3.52%
- YTD
- 0.90%
- 6M
- 6.91%
- 1Y
- 41.08%
- 3Y*
- 19.33%
- 5Y*
- 6.91%
- 10Y*
- 12.69%
FSMD
- 1D
- 3.04%
- 1M
- -4.67%
- YTD
- 1.72%
- 6M
- 2.29%
- 1Y
- 15.81%
- 3Y*
- 13.07%
- 5Y*
- 7.84%
- 10Y*
- —
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FYC vs. FSMD - Expense Ratio Comparison
FYC has a 0.71% expense ratio, which is higher than FSMD's 0.29% expense ratio.
Return for Risk
FYC vs. FSMD — Risk / Return Rank
FYC
FSMD
FYC vs. FSMD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Small Cap Growth AlphaDEX Fund (FYC) and Fidelity Small-Mid Multifactor ETF (FSMD). 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.
| FYC | FSMD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.69 | 0.79 | +0.90 |
Sortino ratioReturn per unit of downside risk | 2.36 | 1.26 | +1.10 |
Omega ratioGain probability vs. loss probability | 1.30 | 1.17 | +0.13 |
Calmar ratioReturn relative to maximum drawdown | 2.97 | 1.33 | +1.63 |
Martin ratioReturn relative to average drawdown | 11.51 | 5.61 | +5.91 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FYC | FSMD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.69 | 0.79 | +0.90 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.29 | 0.43 | -0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.52 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.47 | +0.01 |
Correlation
The correlation between FYC and FSMD is 0.91, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
FYC vs. FSMD - Dividend Comparison
FYC's dividend yield for the trailing twelve months is around 0.08%, less than FSMD's 1.37% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FYC First Trust Small Cap Growth AlphaDEX Fund | 0.08% | 0.08% | 0.72% | 0.58% | 0.00% | 0.63% | 0.12% | 0.39% | 0.09% | 0.10% | 0.31% | 0.21% |
FSMD Fidelity Small-Mid Multifactor ETF | 1.37% | 1.33% | 1.29% | 1.37% | 1.54% | 1.18% | 1.32% | 1.37% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
FYC vs. FSMD - Drawdown Comparison
The maximum FYC drawdown since its inception was -47.85%, which is greater than FSMD's maximum drawdown of -40.67%. Use the drawdown chart below to compare losses from any high point for FYC and FSMD.
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Drawdown Indicators
| FYC | FSMD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.85% | -40.67% | -7.18% |
Max Drawdown (1Y)Largest decline over 1 year | -13.40% | -12.63% | -0.77% |
Max Drawdown (5Y)Largest decline over 5 years | -35.37% | -22.16% | -13.21% |
Max Drawdown (10Y)Largest decline over 10 years | -47.85% | — | — |
Current DrawdownCurrent decline from peak | -6.54% | -5.65% | -0.89% |
Average DrawdownAverage peak-to-trough decline | -9.76% | -6.12% | -3.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.45% | 3.01% | +0.44% |
Volatility
FYC vs. FSMD - Volatility Comparison
First Trust Small Cap Growth AlphaDEX Fund (FYC) has a higher volatility of 8.82% compared to Fidelity Small-Mid Multifactor ETF (FSMD) at 6.73%. This indicates that FYC's price experiences larger fluctuations and is considered to be riskier than FSMD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FYC | FSMD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.82% | 6.73% | +2.09% |
Volatility (6M)Calculated over the trailing 6-month period | 16.37% | 11.32% | +5.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.42% | 20.07% | +4.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.71% | 18.43% | +5.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.51% | 21.54% | +2.97% |