TUSA vs. CTEF

Last updated Jun 23, 2026

TUSA (First Trust Total US Market AlphaDEX ETF) and CTEF (Castellan Targeted Equity ETF) are both Mid Cap Blend Equities funds. TUSA is passively managed, while CTEF is actively managed. Over the past year, TUSA returned 18.57% vs 87.37% for CTEF. At a 0.32 correlation, their price movements are largely independent. TUSA charges 0.70%/yr vs 0.45%/yr for CTEF.

Performance

TUSA vs. CTEF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Total US Market AlphaDEX ETF (TUSA) and Castellan Targeted Equity ETF (CTEF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TUSA achieves a 6.18% return, which is significantly lower than CTEF's 40.36% return.

TUSA

• 1D: 0.40%
• 1M: -1.13%
• YTD: 6.18%
• 6M: 4.93%
• 1Y: 18.57%
• 3Y*: 15.76%
• 5Y*: 6.66%
• 10Y*: 10.96%

CTEF

• 1D: 0.97%
• 1M: 16.38%
• YTD: 40.36%
• 6M: 37.32%
• 1Y: 87.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TUSA vs. CTEF - Yearly Performance Comparison

	2026 (YTD)	2025
TUSA First Trust Total US Market AlphaDEX ETF	6.18%	11.76%
CTEF Castellan Targeted Equity ETF	40.36%	33.10%

Correlation

The correlation between TUSA and CTEF is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (All Time) Calculated using the full available price history since Jun 18, 2025	0.32

Return for Risk

TUSA vs. CTEF — Risk / Return Rank

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

TUSA

TUSA Risk / Return Rank: 46
TUSA Sharpe Ratio Rank: 42
TUSA Sortino Ratio Rank: 44
TUSA Omega Ratio Rank: 40
TUSA Calmar Ratio Rank: 59
TUSA Martin Ratio Rank: 45

CTEF

CTEF Risk / Return Rank: 94
CTEF Sharpe Ratio Rank: 96
CTEF Sortino Ratio Rank: 95
CTEF Omega Ratio Rank: 93
CTEF Calmar Ratio Rank: 92
CTEF Martin Ratio Rank: 95

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.

TUSA vs. CTEF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Total US Market AlphaDEX ETF (TUSA) and Castellan Targeted Equity ETF (CTEF). 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.

	TUSA	CTEF	Difference
Sharpe ratio: Return per unit of total volatility	1.43	3.91	-2.47
Sortino ratio: Return per unit of downside risk	2.16	4.80	-2.65
Omega ratio: Gain probability vs. loss probability	1.25	1.62	-0.36
Calmar ratio: Return relative to maximum drawdown	2.84	5.86	-3.02
Martin ratio: Return relative to average drawdown	7.28	27.12	-19.85

TUSA vs. CTEF - Sharpe Ratio Comparison

The current TUSA Sharpe Ratio is 1.43, which is lower than the CTEF Sharpe Ratio of 3.91. The chart below compares the historical Sharpe Ratios of TUSA and CTEF, 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

TUSA vs. CTEF - Drawdown Comparison

The maximum TUSA drawdown since its inception was -56.53%, which is greater than CTEF's maximum drawdown of -15.00%. Use the drawdown chart below to compare losses from any high point for TUSA and CTEF.

Drawdown Indicators

	TUSA	CTEF	Difference
Max Drawdown Largest peak-to-trough decline	-56.53%	-15.00%	-41.53%
Max Drawdown (1Y) Largest decline over 1 year	-6.57%	-15.00%	+8.43%
Max Drawdown (3Y) Largest decline over 3 years	-18.04%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-23.35%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-42.47%	—	—
Current Drawdown Current decline from peak	-4.79%	0.00%	-4.79%
Average Drawdown Average peak-to-trough decline	-9.85%	-1.75%	-8.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.56%	3.23%	-0.67%

Volatility

TUSA vs. CTEF - Volatility Comparison

The current volatility for First Trust Total US Market AlphaDEX ETF (TUSA) is 3.03%, while Castellan Targeted Equity ETF (CTEF) has a volatility of 8.56%. This indicates that TUSA experiences smaller price fluctuations and is considered to be less risky than CTEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TUSA	CTEF	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.03%	8.56%	-5.53%
Volatility (6M) Calculated over the trailing 6-month period	8.66%	18.88%	-10.22%
Volatility (1Y) Calculated over the trailing 1-year period	13.03%	22.52%	-9.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.63%	22.44%	-4.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.15%	22.44%	-2.29%

TUSA vs. CTEF - Expense Ratio Comparison

TUSA has a 0.70% expense ratio, which is higher than CTEF's 0.45% expense ratio.

Dividends

TUSA vs. CTEF - Dividend Comparison

TUSA's dividend yield for the trailing twelve months is around 1.66%, more than CTEF's 0.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CTEF Castellan Targeted Equity ETF	0.05%	0.08%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
TUSA First Trust Total US Market AlphaDEX ETF	1.66%	1.59%	2.05%	2.15%	2.31%	0.72%	0.99%	1.13%	1.14%	0.79%	1.24%	0.95%

Frequently Asked Questions

Can I hold both TUSA and CTEF in my portfolio?

TUSA and CTEF have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TUSA or CTEF?

CTEF has higher volatility (8.56%) compared to TUSA (3.03%). In terms of maximum drawdown, TUSA dropped -56.53% vs CTEF's -15.00%.

Which ETF is better, TUSA or CTEF?

On 1-year performance, CTEF leads with 87.37% vs 18.57% for TUSA. On fees, CTEF is cheaper at 0.45% per year. On volatility, TUSA has been the lower-risk option at 3.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TUSA or CTEF?

Over the 1-year period, CTEF has performed better with a 87.37% return vs 18.57%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TUSA or CTEF?

CTEF is cheaper with a 0.45% expense ratio, compared with 0.70% for TUSA.

Which ETF pays a higher dividend yield, TUSA or CTEF?

TUSA has the higher dividend yield at 1.66%, compared with 0.05% for CTEF.

What is the main difference between TUSA and CTEF?

They also come from different issuers: First Trust and Castellan. Their fees differ too: 0.70% for TUSA and 0.45% for CTEF.

Which has better risk-adjusted returns?

CTEF currently has the higher Sharpe Ratio (3.91 vs 1.43), 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.