MMSC vs. GRID

Last updated Jun 25, 2026

MMSC (First Trust Multi-Manager Small Cap Opportunities ETF) and GRID (First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund) are both exchange-traded funds - MMSC is a Small Cap Growth Equities fund actively managed by First Trust, while GRID is a Alternative Energy Equities fund tracking the Nasdaq Clean Edge Smart Grid Infrastructure Index. MMSC is actively managed, while GRID is passively managed. Over the past 3 years, MMSC returned 22.46%/yr vs 24.08%/yr for GRID. Their correlation of 0.83 suggests significant overlap in exposure. MMSC charges 0.95%/yr vs 0.70%/yr for GRID.

Performance

MMSC vs. GRID - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Multi-Manager Small Cap Opportunities ETF (MMSC) and First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MMSC achieves a 18.98% return, which is significantly lower than GRID's 23.03% return.

MMSC

• 1D: 0.02%
• 1M: 2.64%
• YTD: 18.98%
• 6M: 15.48%
• 1Y: 40.59%
• 3Y*: 22.46%
• 5Y*: —
• 10Y*: —

GRID

• 1D: -0.30%
• 1M: -2.26%
• YTD: 23.03%
• 6M: 21.65%
• 1Y: 39.31%
• 3Y*: 24.08%
• 5Y*: 16.47%
• 10Y*: 19.91%

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

MMSC vs. GRID - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
MMSC First Trust Multi-Manager Small Cap Opportunities ETF	18.98%	15.45%	22.19%	18.76%	-30.98%	1.25%
GRID First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund	23.03%	29.65%	15.18%	21.57%	-13.89%	7.93%

Correlation

The correlation between MMSC and GRID is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (All Time) Calculated using the full available price history since Oct 14, 2021	0.83

The correlation between MMSC and GRID has been stable across timeframes, ranging from 0.79 to 0.83 - a consistent structural relationship.

MMSC vs. GRID - Sectors Allocation Comparison

Sectors	MMSC	GRID
Industrials	27.2%	24.2%
Technology	26.5%	12.5%
Healthcare	21.3%	-
Financial Services	7.7%	-
Energy	6.3%	1.6%
Consumer Cyclical	5.8%	2.3%
Basic Materials	2.4%	0.0%
Consumer Defensive	1.5%	-
Communication Services	0.7%	-
Utilities	0.6%	3.9%
Real Estate	0.2%	-

Return for Risk

MMSC vs. GRID — Risk / Return Rank

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

MMSC

MMSC Risk / Return Rank: 60
MMSC Sharpe Ratio Rank: 59
MMSC Sortino Ratio Rank: 56
MMSC Omega Ratio Rank: 53
MMSC Calmar Ratio Rank: 66
MMSC Martin Ratio Rank: 68

GRID

GRID Risk / Return Rank: 65
GRID Sharpe Ratio Rank: 63
GRID Sortino Ratio Rank: 58
GRID Omega Ratio Rank: 60
GRID Calmar Ratio Rank: 73
GRID Martin Ratio Rank: 72

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.

MMSC vs. GRID - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Multi-Manager Small Cap Opportunities ETF (MMSC) and First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID). 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.

	MMSC	GRID	Difference
Sharpe ratio: Return per unit of total volatility	1.74	1.87	-0.13
Sortino ratio: Return per unit of downside risk	2.35	2.47	-0.13
Omega ratio: Gain probability vs. loss probability	1.29	1.33	-0.04
Calmar ratio: Return relative to maximum drawdown	2.89	3.37	-0.48
Martin ratio: Return relative to average drawdown	10.88	11.90	-1.02

MMSC vs. GRID - Sharpe Ratio Comparison

The current MMSC Sharpe Ratio is 1.74, which is comparable to the GRID Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of MMSC and GRID, 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

MMSC vs. GRID - Drawdown Comparison

The maximum MMSC drawdown since its inception was -40.82%, roughly equal to the maximum GRID drawdown of -40.56%. Use the drawdown chart below to compare losses from any high point for MMSC and GRID.

Drawdown Indicators

	MMSC	GRID	Difference
Max Drawdown Largest peak-to-trough decline	-40.82%	-40.56%	-0.26%
Max Drawdown (1Y) Largest decline over 1 year	-14.10%	-11.73%	-2.37%
Max Drawdown (3Y) Largest decline over 3 years	-29.76%	-20.77%	-8.99%
Max Drawdown (5Y) Largest decline over 5 years	—	-29.64%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-40.56%	—
Current Drawdown Current decline from peak	-2.00%	-5.83%	+3.83%
Average Drawdown Average peak-to-trough decline	-18.57%	-8.42%	-10.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.74%	3.31%	+0.43%

Volatility

MMSC vs. GRID - Volatility Comparison

The current volatility for First Trust Multi-Manager Small Cap Opportunities ETF (MMSC) is 8.62%, while First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID) has a volatility of 10.09%. This indicates that MMSC experiences smaller price fluctuations and is considered to be less risky than GRID based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MMSC	GRID	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.62%	10.09%	-1.47%
Volatility (6M) Calculated over the trailing 6-month period	18.20%	18.22%	-0.02%
Volatility (1Y) Calculated over the trailing 1-year period	23.52%	21.25%	+2.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.58%	21.36%	+3.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.58%	22.79%	+1.79%

MMSC vs. GRID - Expense Ratio Comparison

MMSC has a 0.95% expense ratio, which is higher than GRID's 0.70% expense ratio.

Dividends

MMSC vs. GRID - Dividend Comparison

MMSC has not paid dividends to shareholders, while GRID's dividend yield for the trailing twelve months is around 0.80%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GRID First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund	0.80%	1.01%	1.06%	1.23%	1.26%	0.63%	0.68%	1.26%	1.28%	1.07%	1.07%	1.23%
MMSC First Trust Multi-Manager Small Cap Opportunities ETF	0.00%	0.00%	0.41%	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 MMSC and GRID in my portfolio?

MMSC and GRID have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MMSC or GRID?

GRID has higher volatility (10.09%) compared to MMSC (8.62%). In terms of maximum drawdown, MMSC dropped -40.82% vs GRID's -40.56%.

Which ETF is better, MMSC or GRID?

On 3-year performance, GRID leads with 24.08% vs 22.46% for MMSC. On fees, GRID is cheaper at 0.70% per year. On volatility, MMSC has been the lower-risk option at 8.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MMSC or GRID?

Over the 3-year period, GRID has performed better with a 24.08% return vs 22.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MMSC or GRID?

GRID is cheaper with a 0.70% expense ratio, compared with 0.95% for MMSC.

Which ETF pays a higher dividend yield, MMSC or GRID?

GRID has the higher dividend yield at 0.80%, compared with 0.00% for MMSC.

What is the main difference between MMSC and GRID?

MMSC is categorized as Small Cap Growth Equities, while GRID is Alternative Energy Equities. Their fees differ too: 0.95% for MMSC and 0.70% for GRID.

Which has better risk-adjusted returns?

GRID currently has the higher Sharpe Ratio (1.87 vs 1.74), 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.