NUMG vs. FAD

Last updated Jun 4, 2026

NUMG (Nuveen ESG Mid-Cap Growth ETF) and FAD (First Trust Multi Cap Growth AlphaDEX Fund) are both Mid Cap Growth Equities funds - NUMG tracks the MSCI TIAA ESG USA Mid Cap Growth while FAD tracks the NASDAQ AlphaDEX Multi Cap Growth Index. Both are passively managed. Over the past 5 years, NUMG returned 0.99%/yr vs 11.25%/yr for FAD. Their correlation of 0.87 suggests significant overlap in exposure. NUMG charges 0.30%/yr vs 0.63%/yr for FAD.

Performance

NUMG vs. FAD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen ESG Mid-Cap Growth ETF (NUMG) and First Trust Multi Cap Growth AlphaDEX Fund (FAD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NUMG achieves a -0.40% return, which is significantly lower than FAD's 17.25% return.

NUMG

• 1D: -1.63%
• 1M: 5.76%
• YTD: -0.40%
• 6M: 0.31%
• 1Y: -0.49%
• 3Y*: 8.47%
• 5Y*: 0.99%
• 10Y*: —

FAD

• 1D: -0.15%
• 1M: 6.70%
• YTD: 17.25%
• 6M: 17.16%
• 1Y: 34.52%
• 3Y*: 24.16%
• 5Y*: 11.25%
• 10Y*: 14.53%

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

NUMG vs. FAD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NUMG Nuveen ESG Mid-Cap Growth ETF	-0.40%	0.78%	11.99%	20.47%	-28.31%	12.27%	45.73%	34.87%	-5.79%	19.00%
FAD First Trust Multi Cap Growth AlphaDEX Fund	17.25%	17.23%	23.85%	19.07%	-24.06%	21.17%	34.92%	26.66%	-6.45%	25.75%

Correlation

The correlation between NUMG and FAD is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since Dec 15, 2016	0.87

The correlation between NUMG and FAD shifts across timeframes, from 0.78 (1 year) to 0.90 (5 years), reflecting how their relationship changes across market environments.

NUMG vs. FAD - Sectors Allocation Comparison

Sectors	NUMG	FAD
Technology	28.7%	24.1%
Industrials	26.5%	26.1%
Healthcare	13.9%	15.4%
Consumer Cyclical	11.8%	10.8%
Financial Services	6.5%	8.0%
Communication Services	5.2%	3.1%
Real Estate	3.7%	4.1%
Basic Materials	2.3%	3.0%
Utilities	1.4%	1.6%
Consumer Defensive	-	2.4%
Energy	-	1.6%

Return for Risk

NUMG vs. FAD — Risk / Return Rank

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

NUMG

NUMG Risk / Return Rank: 8
NUMG Sharpe Ratio Rank: 8
NUMG Sortino Ratio Rank: 8
NUMG Omega Ratio Rank: 8
NUMG Calmar Ratio Rank: 9
NUMG Martin Ratio Rank: 8

FAD

FAD Risk / Return Rank: 59
FAD Sharpe Ratio Rank: 55
FAD Sortino Ratio Rank: 53
FAD Omega Ratio Rank: 51
FAD Calmar Ratio Rank: 66
FAD Martin Ratio Rank: 68

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.

NUMG vs. FAD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen ESG Mid-Cap Growth ETF (NUMG) and First Trust Multi Cap Growth AlphaDEX Fund (FAD). 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.

	NUMG	FAD	Difference
Sharpe ratio: Return per unit of total volatility	-0.03	1.88	-1.90
Sortino ratio: Return per unit of downside risk	0.09	2.59	-2.51
Omega ratio: Gain probability vs. loss probability	1.01	1.32	-0.31
Calmar ratio: Return relative to maximum drawdown	-0.03	3.25	-3.28
Martin ratio: Return relative to average drawdown	-0.06	12.54	-12.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NUMG vs. FAD - Sharpe Ratio Comparison

The current NUMG Sharpe Ratio is -0.03, which is lower than the FAD Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of NUMG and FAD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	NUMG	FAD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.03	1.88	-1.90
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.04	0.55	-0.51
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.69	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.50	-0.06

Drawdowns

NUMG vs. FAD - Drawdown Comparison

The maximum NUMG drawdown since its inception was -38.85%, smaller than the maximum FAD drawdown of -54.33%. Use the drawdown chart below to compare losses from any high point for NUMG and FAD.

Drawdown Indicators

	NUMG	FAD	Difference
Max Drawdown Largest peak-to-trough decline	-38.85%	-54.33%	+15.48%
Max Drawdown (1Y) Largest decline over 1 year	-19.71%	-10.66%	-9.05%
Max Drawdown (3Y) Largest decline over 3 years	-26.58%	-23.55%	-3.03%
Max Drawdown (5Y) Largest decline over 5 years	-38.85%	-31.99%	-6.86%
Max Drawdown (10Y) Largest decline over 10 years	—	-37.25%	—
Current Drawdown Current decline from peak	-9.34%	-0.15%	-9.19%
Average Drawdown Average peak-to-trough decline	-11.37%	-9.64%	-1.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.59%	2.76%	+4.83%

Volatility

NUMG vs. FAD - Volatility Comparison

The current volatility for Nuveen ESG Mid-Cap Growth ETF (NUMG) is 4.75%, while First Trust Multi Cap Growth AlphaDEX Fund (FAD) has a volatility of 6.01%. This indicates that NUMG experiences smaller price fluctuations and is considered to be less risky than FAD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NUMG	FAD	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.75%	6.01%	-1.26%
Volatility (6M) Calculated over the trailing 6-month period	14.59%	14.14%	+0.45%
Volatility (1Y) Calculated over the trailing 1-year period	18.18%	18.50%	-0.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.86%	20.53%	+2.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.87%	21.18%	+0.69%

NUMG vs. FAD - Expense Ratio Comparison

NUMG has a 0.30% expense ratio, which is lower than FAD's 0.63% expense ratio.

Dividends

NUMG vs. FAD - Dividend Comparison

NUMG's dividend yield for the trailing twelve months is around 0.01%, less than FAD's 0.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAD First Trust Multi Cap Growth AlphaDEX Fund	0.09%	0.09%	0.59%	0.51%	0.60%	0.09%	0.32%	0.48%	0.20%	0.22%	0.64%	0.41%
NUMG Nuveen ESG Mid-Cap Growth ETF	0.01%	0.01%	0.06%	0.18%	0.18%	12.76%	3.82%	0.27%	5.14%	0.56%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NUMG and FAD in my portfolio?

NUMG and FAD have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NUMG or FAD?

FAD has higher volatility (6.01%) compared to NUMG (4.75%). In terms of maximum drawdown, NUMG dropped -38.85% vs FAD's -54.33%.

Which ETF is better, NUMG or FAD?

On 5-year performance, FAD leads with 11.25% vs 0.99% for NUMG. On fees, NUMG is cheaper at 0.30% per year. On volatility, NUMG has been the lower-risk option at 4.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NUMG or FAD?

Over the 5-year period, FAD has performed better with a 11.25% return vs 0.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NUMG or FAD?

NUMG is cheaper with a 0.30% expense ratio, compared with 0.63% for FAD.

Which ETF pays a higher dividend yield, NUMG or FAD?

FAD has the higher dividend yield at 0.09%, compared with 0.01% for NUMG.

What is the main difference between NUMG and FAD?

NUMG tracks MSCI TIAA ESG USA Mid Cap Growth, while FAD tracks NASDAQ AlphaDEX Multi Cap Growth Index. They also come from different issuers: Nuveen and First Trust. Their fees differ too: 0.30% for NUMG and 0.63% for FAD.

Which has better risk-adjusted returns?

FAD currently has the higher Sharpe Ratio (1.88 vs -0.03), 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.