MSEX vs. FIW
MSEX (Middlesex Water Company) is a stock, while FIW (First Trust Water ETF) is Water Equities fund tracking the ISE Clean Edge Water Index. Over the past 10 years, MSEX returned 5.43%/yr vs 12.38%/yr for FIW. Their 0.51 correlation means they have sometimes moved together and sometimes differently.
Performance
MSEX vs. FIW - Performance Comparison
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Returns By Period
In the year-to-date period, MSEX achieves a 15.19% return, which is significantly higher than FIW's 0.42% return. Over the past 10 years, MSEX has underperformed FIW with an annualized return of 5.43%, while FIW has yielded a comparatively higher 12.38% annualized return.
MSEX
- 1D
- 2.67%
- 1M
- -0.43%
- 6M
- 10.88%
- YTD
- 15.19%
- 1Y
- 12.34%
- 3Y*
- -8.48%
- 5Y*
- -9.05%
- 10Y*
- 5.43%
- ALL TIME*
- 10.57%
FIW
- 1D
- 0.20%
- 1M
- -0.27%
- 6M
- -3.23%
- YTD
- 0.42%
- 1Y
- 1.34%
- 3Y*
- 6.99%
- 5Y*
- 5.15%
- 10Y*
- 12.38%
- ALL TIME*
- 9.98%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $5.33M | $5.43M | $6.04M | |
| $6.97M | $11.03M | $8.63M |
MSEX vs. FIW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MSEX Middlesex Water Company | 15.19% | -1.65% | -18.00% | -15.19% | -33.75% | 68.50% | 15.78% | 21.12% | 36.54% | -4.92% |
FIW First Trust Water ETF | 0.42% | 7.20% | 8.38% | 20.35% | -15.70% | 32.00% | 21.15% | 37.37% | -9.23% | 24.69% |
Correlation
The correlation between MSEX and FIW is 0.30, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.30 |
Correlation (3Y) Balances recent behavior with more history. | 0.40 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.46 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.49 |
Correlation (All Time) Calculated using the full available price history since May 11, 2007 | 0.51 |
Over the past year, the correlation between MSEX and FIW has dropped to 0.30 - well below their long-term average of 0.51, suggesting their price drivers have been diverging.
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Return for Risk
MSEX vs. FIW — Risk / Return Rank
MSEX
FIW
MSEX vs. FIW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Middlesex Water Company (MSEX) and First Trust Water ETF (FIW). 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.
| MSEX | FIW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.41 | ||
| Sortino ratioReturn per unit of downside risk | +0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.02 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 0.67 | 0.06 | +0.61 |
| Martin ratioReturn relative to average drawdown | 1.16 | 0.15 | +1.02 |
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Drawdowns
MSEX vs. FIW - Drawdown Comparison
The maximum MSEX drawdown since its inception was -60.51%, which is greater than FIW's maximum drawdown of -52.75%. Use the drawdown chart below to compare losses from any high point for MSEX and FIW.
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Drawdown Indicators
| MSEX | FIW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.51% | -52.75% | -7.76% |
Max Drawdown (1Y)Largest decline over 1 year | -21.04% | -13.81% | -7.23% |
Max Drawdown (3Y)Largest decline over 3 years | -43.09% | -18.32% | -24.77% |
Max Drawdown (5Y)Largest decline over 5 years | -60.51% | -28.53% | -31.98% |
Max Drawdown (10Y)Largest decline over 10 years | -60.51% | -36.60% | -23.91% |
Current DrawdownCurrent decline from peak | -47.81% | -5.82% | -41.99% |
Average DrawdownAverage peak-to-trough decline | -13.01% | -8.29% | -4.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 12.11% | 6.05% | +6.06% |
Volatility
MSEX vs. FIW - Volatility Comparison
Middlesex Water Company (MSEX) has a higher volatility of 7.79% compared to First Trust Water ETF (FIW) at 5.47%. This indicates that MSEX's price experiences larger fluctuations and is considered to be riskier than FIW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSEX | FIW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.79% | 5.47% | +2.32% |
Volatility (6M)Calculated over the trailing 6-month period | 18.68% | 12.58% | +6.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 30.22% | 16.53% | +13.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 30.45% | 18.49% | +11.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.33% | 19.92% | +12.41% |
Dividends
MSEX vs. FIW - Dividend Comparison
MSEX's dividend yield for the trailing twelve months is around 2.48%, more than FIW's 0.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIW First Trust Water ETF | 0.72% | 0.69% | 0.69% | 0.68% | 0.67% | 0.37% | 0.56% | 0.55% | 0.73% | 1.13% | 0.51% | 0.76% |
MSEX Middlesex Water Company | 2.48% | 2.74% | 2.50% | 1.92% | 1.50% | 1.16% | 1.44% | 1.54% | 1.71% | 2.15% | 1.88% | 2.92% |
Frequently Asked Questions
MSEX and FIW have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSEX has higher volatility (7.79%) compared to FIW (5.47%). In terms of maximum drawdown, MSEX dropped -60.51% vs FIW's -52.75%.
MSEX currently has the higher Sharpe Ratio (0.47 vs 0.05), 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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