PTMC vs. FNX

Last updated Jun 6, 2026

PTMC (Pacer Trendpilot US Mid Cap ETF) and FNX (First Trust Mid Cap Core AlphaDEX Fund) are both Mid Cap Blend Equities funds - PTMC tracks the Pacer Trendpilot US Mid Cap Index while FNX tracks the NASDAQ AlphaDEX Mid Cap Core Index. Both are passively managed. Over the past 10 years, PTMC returned 5.91%/yr vs 11.64%/yr for FNX. A 0.77 correlation means they provide meaningful diversification when combined. Both charge a 0.60% expense ratio.

Performance

PTMC vs. FNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer Trendpilot US Mid Cap ETF (PTMC) and First Trust Mid Cap Core AlphaDEX Fund (FNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PTMC achieves a 12.33% return, which is significantly higher than FNX's 10.60% return. Over the past 10 years, PTMC has underperformed FNX with an annualized return of 5.91%, while FNX has yielded a comparatively higher 11.64% annualized return.

PTMC

• 1D: -1.91%
• 1M: -0.87%
• YTD: 12.33%
• 6M: 11.93%
• 1Y: 17.22%
• 3Y*: 9.60%
• 5Y*: 3.47%
• 10Y*: 5.91%

FNX

• 1D: -1.79%
• 1M: -1.19%
• YTD: 10.60%
• 6M: 9.96%
• 1Y: 25.79%
• 3Y*: 15.99%
• 5Y*: 8.08%
• 10Y*: 11.64%

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

PTMC vs. FNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PTMC Pacer Trendpilot US Mid Cap ETF	12.33%	-1.55%	13.22%	7.29%	-13.99%	12.42%	6.58%	1.04%	0.02%	17.79%
FNX First Trust Mid Cap Core AlphaDEX Fund	10.60%	9.87%	12.21%	20.39%	-13.57%	25.05%	16.04%	26.97%	-11.23%	17.66%

Correlation

The correlation between PTMC and FNX is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.77

The correlation between PTMC and FNX shifts across timeframes, from 0.76 (5 years) to 0.93 (1 year), reflecting how their relationship changes across market environments.

PTMC vs. FNX - Sectors Allocation Comparison

Sectors	PTMC	FNX
Industrials	23.6%	19.3%
Technology	16.4%	9.5%
Financial Services	15.1%	18.6%
Consumer Cyclical	10.8%	14.4%
Healthcare	8.8%	10.4%
Real Estate	7.0%	8.6%
Basic Materials	4.9%	3.1%
Consumer Defensive	4.8%	4.0%
Energy	4.2%	6.2%
Utilities	3.0%	2.7%
Communication Services	1.4%	2.2%

Return for Risk

PTMC vs. FNX — Risk / Return Rank

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

PTMC

PTMC Risk / Return Rank: 38
PTMC Sharpe Ratio Rank: 33
PTMC Sortino Ratio Rank: 35
PTMC Omega Ratio Rank: 34
PTMC Calmar Ratio Rank: 42
PTMC Martin Ratio Rank: 46

FNX

FNX Risk / Return Rank: 53
FNX Sharpe Ratio Rank: 49
FNX Sortino Ratio Rank: 51
FNX Omega Ratio Rank: 46
FNX Calmar Ratio Rank: 59
FNX Martin Ratio Rank: 58

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.

PTMC vs. FNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer Trendpilot US Mid Cap ETF (PTMC) and First Trust Mid Cap Core AlphaDEX Fund (FNX). 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.

	PTMC	FNX	Difference
Sharpe ratio: Return per unit of total volatility	1.13	1.60	-0.47
Sortino ratio: Return per unit of downside risk	1.72	2.35	-0.63
Omega ratio: Gain probability vs. loss probability	1.21	1.28	-0.07
Calmar ratio: Return relative to maximum drawdown	1.94	2.80	-0.86
Martin ratio: Return relative to average drawdown	7.12	9.65	-2.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PTMC vs. FNX - Sharpe Ratio Comparison

The current PTMC Sharpe Ratio is 1.13, which is comparable to the FNX Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of PTMC and FNX, 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

	PTMC	FNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.13	1.60	-0.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.26	0.40	-0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	0.53	-0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.41	+0.08

Drawdowns

PTMC vs. FNX - Drawdown Comparison

The maximum PTMC drawdown since its inception was -20.53%, smaller than the maximum FNX drawdown of -57.11%. Use the drawdown chart below to compare losses from any high point for PTMC and FNX.

Drawdown Indicators

	PTMC	FNX	Difference
Max Drawdown Largest peak-to-trough decline	-20.53%	-57.11%	+36.58%
Max Drawdown (1Y) Largest decline over 1 year	-8.89%	-9.24%	+0.35%
Max Drawdown (3Y) Largest decline over 3 years	-15.31%	-24.97%	+9.66%
Max Drawdown (5Y) Largest decline over 5 years	-16.93%	-24.97%	+8.04%
Max Drawdown (10Y) Largest decline over 10 years	-20.53%	-43.95%	+23.42%
Current Drawdown Current decline from peak	-1.91%	-1.84%	-0.07%
Average Drawdown Average peak-to-trough decline	-6.47%	-8.40%	+1.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.42%	2.68%	-0.26%

Volatility

PTMC vs. FNX - Volatility Comparison

The current volatility for Pacer Trendpilot US Mid Cap ETF (PTMC) is 4.36%, while First Trust Mid Cap Core AlphaDEX Fund (FNX) has a volatility of 4.61%. This indicates that PTMC experiences smaller price fluctuations and is considered to be less risky than FNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PTMC	FNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.36%	4.61%	-0.25%
Volatility (6M) Calculated over the trailing 6-month period	11.59%	11.55%	+0.04%
Volatility (1Y) Calculated over the trailing 1-year period	15.30%	16.19%	-0.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.17%	20.50%	-7.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.99%	21.97%	-8.98%

PTMC vs. FNX - Expense Ratio Comparison

Both PTMC and FNX have an expense ratio of 0.60%.

Dividends

PTMC vs. FNX - Dividend Comparison

PTMC's dividend yield for the trailing twelve months is around 1.64%, more than FNX's 0.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNX First Trust Mid Cap Core AlphaDEX Fund	0.84%	0.88%	1.26%	1.11%	1.19%	0.94%	1.04%	1.21%	1.01%	0.90%	1.07%	1.07%
PTMC Pacer Trendpilot US Mid Cap ETF	1.64%	1.84%	0.87%	1.92%	0.82%	0.12%	0.53%	1.40%	0.89%	0.67%	0.66%	0.00%

Frequently Asked Questions

Can I hold both PTMC and FNX in my portfolio?

With a correlation of 0.93, PTMC and FNX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, PTMC or FNX?

FNX has higher volatility (4.61%) compared to PTMC (4.36%). In terms of maximum drawdown, PTMC dropped -20.53% vs FNX's -57.11%.

Which ETF is better, PTMC or FNX?

On 10-year performance, FNX leads with 11.64% vs 5.91% for PTMC. Both ETFs have the same 0.60% expense ratio. On volatility, PTMC has been the lower-risk option at 4.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PTMC or FNX?

Over the 10-year period, FNX has performed better with a 11.64% return vs 5.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PTMC or FNX?

PTMC and FNX have the same expense ratio: 0.60% per year.

Which ETF pays a higher dividend yield, PTMC or FNX?

PTMC has the higher dividend yield at 1.64%, compared with 0.84% for FNX.

What is the main difference between PTMC and FNX?

PTMC tracks Pacer Trendpilot US Mid Cap Index, while FNX tracks NASDAQ AlphaDEX Mid Cap Core Index. They also come from different issuers: Pacer and First Trust.

Which has better risk-adjusted returns?

FNX currently has the higher Sharpe Ratio (1.60 vs 1.13), 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.