MDEV vs. FAAR
MDEV (First Trust Indxx Medical Devices ETF) and FAAR (First Trust Alternative Absolute Return Strategy ETF) are both exchange-traded funds - MDEV is a Health & Biotech Equities fund tracking the Indxx Global Medical Equipment Index, while FAAR is a Commodities fund actively managed by First Trust. MDEV is passively managed, while FAAR is actively managed. Over the past 5 years, MDEV returned -6.04%/yr vs 7.72%/yr for FAAR. At a correlation of -0.03, they often move in opposite directions. MDEV charges 0.70%/yr vs 0.95%/yr for FAAR.
Performance
MDEV vs. FAAR - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MDEV achieves a -11.56% return, which is significantly lower than FAAR's 19.14% return.
MDEV
- 1D
- 0.35%
- 1M
- -1.40%
- YTD
- -11.56%
- 6M
- -12.11%
- 1Y
- -7.87%
- 3Y*
- -3.34%
- 5Y*
- -6.04%
- 10Y*
- —
FAAR
- 1D
- -0.91%
- 1M
- -5.21%
- YTD
- 19.14%
- 6M
- 18.06%
- 1Y
- 28.33%
- 3Y*
- 10.57%
- 5Y*
- 7.72%
- 10Y*
- 4.69%
MDEV vs. FAAR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
MDEV First Trust Indxx Medical Devices ETF | -11.56% | 2.00% | 1.79% | 7.55% | -28.59% | 3.83% |
FAAR First Trust Alternative Absolute Return Strategy ETF | 19.14% | 8.07% | 5.97% | -5.63% | 10.15% | 2.66% |
Correlation
The correlation between MDEV and FAAR is -0.13, 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 (1Y) Calculated over the trailing 1-year period | -0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since Jun 23, 2021 | -0.03 |
The correlation between MDEV and FAAR shifts across timeframes, from -0.13 (1 year) to -0.03 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
MDEV vs. FAAR — Risk / Return Rank
MDEV
FAAR
MDEV vs. FAAR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Indxx Medical Devices ETF (MDEV) and First Trust Alternative Absolute Return Strategy ETF (FAAR). 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.
| MDEV | FAAR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.64 | ||
| Sortino ratioReturn per unit of downside risk | -3.69 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.37 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | -0.44 | 4.52 | -4.96 |
| Martin ratioReturn relative to average drawdown | -1.00 | 15.18 | -16.18 |
Loading charts...
Drawdowns
MDEV vs. FAAR - Drawdown Comparison
The maximum MDEV drawdown since its inception was -42.34%, which is greater than FAAR's maximum drawdown of -18.03%. Use the drawdown chart below to compare losses from any high point for MDEV and FAAR.
Loading charts...
Drawdown Indicators
| MDEV | FAAR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.34% | -18.03% | -24.31% |
Max Drawdown (1Y)Largest decline over 1 year | -18.13% | -6.29% | -11.84% |
Max Drawdown (3Y)Largest decline over 3 years | -22.50% | -11.54% | -10.96% |
Max Drawdown (5Y)Largest decline over 5 years | -42.34% | -18.03% | -24.31% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.03% | — |
Current DrawdownCurrent decline from peak | -33.81% | -6.29% | -27.52% |
Average DrawdownAverage peak-to-trough decline | -25.71% | -7.82% | -17.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.87% | 1.87% | +6.00% |
Volatility
MDEV vs. FAAR - Volatility Comparison
First Trust Indxx Medical Devices ETF (MDEV) has a higher volatility of 4.27% compared to First Trust Alternative Absolute Return Strategy ETF (FAAR) at 2.55%. This indicates that MDEV's price experiences larger fluctuations and is considered to be riskier than FAAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| MDEV | FAAR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.27% | 2.55% | +1.72% |
Volatility (6M)Calculated over the trailing 6-month period | 11.81% | 9.68% | +2.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.17% | 13.38% | +2.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.96% | 12.96% | +6.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.95% | 11.54% | +7.41% |
MDEV vs. FAAR - Expense Ratio Comparison
MDEV has a 0.70% expense ratio, which is lower than FAAR's 0.95% expense ratio.
Dividends
MDEV vs. FAAR - Dividend Comparison
MDEV has not paid dividends to shareholders, while FAAR's dividend yield for the trailing twelve months is around 9.66%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FAAR First Trust Alternative Absolute Return Strategy ETF | 9.66% | 11.63% | 3.45% | 3.20% | 5.82% | 6.49% | 3.05% | 1.02% | 0.58% | 2.83% |
MDEV First Trust Indxx Medical Devices ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MDEV and FAAR have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MDEV has higher volatility (4.27%) compared to FAAR (2.55%). In terms of maximum drawdown, MDEV dropped -42.34% vs FAAR's -18.03%.
On 5-year performance, FAAR leads with 7.72% vs -6.04% for MDEV. On fees, MDEV is cheaper at 0.70% per year. On volatility, FAAR has been the lower-risk option at 2.55%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FAAR has performed better with a 7.72% return vs -6.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MDEV is cheaper with a 0.70% expense ratio, compared with 0.95% for FAAR.
FAAR has the higher dividend yield at 9.66%, compared with 0.00% for MDEV.
MDEV is categorized as Health & Biotech Equities, while FAAR is Commodities. Their fees differ too: 0.70% for MDEV and 0.95% for FAAR.
FAAR currently has the higher Sharpe Ratio (2.15 vs -0.49), 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.
Find the right allocation for MDEV and FAAR
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer