FAD
First Trust Multi Cap Growth AlphaDEX Fund
SMB
UMD
Adj. R2
0.935
Rel. Sharpe
1.014
Mkt beta
1.06
AUM
US$421M
MER
0.63%
Valuation
446
ETF comparison
Verified factor-similar pair
FAD vs FNY
These two ETFs meet the same FF6 US comparison criteria: US-listed equity ETFs, the same USD model basis, at least one material non-market factor, and 100% overlap in statistically significant material factor exposure.
SMB
UMD
Similarity score
91
Near substitute
The score combines exposure-level distance, factor-vector shape, market-beta closeness, and a small backtested relative-Sharpe term.
Quick Read
- FAD has the higher backtested relative Sharpe (1.014 vs 0.943).
- FAD has the lower published fee (0.63% vs 0.73%).
- FNY is cheaper on dividend valuation (128 vs 446, where 100 is each fund's historical median).
- FAD has the stronger regression fit (adjusted R-squared 0.935 vs 0.921).
These are screening signals, not a complete review of portfolio construction, turnover, taxes, or trading quality.
FNY
First Trust Mid Cap Growth AlphaDEX Fund
SMB
UMD
Adj. R2
0.921
Rel. Sharpe
0.943
Mkt beta
1.07
AUM
US$486M
MER
0.73%
Valuation
128
Factor Exposure Match
Blue bars compare raw factor beta magnitude. Green bars compare absolute t-stat strength. Dim bars indicate the t-stat is below 1.96.
SMB
diff -0.11
HML
diff -0.05
RMW
diff -0.00
CMA
diff -0.00
UMD
diff -0.06
Why This Pair Matches
Exposure level
89
Exposure shape
100
Mkt beta diff
0.01
Rel. Sharpe diff
0.071
This comparison focuses on measured factor exposure. It does not compare holdings methodology, turnover, tax handling, or issuer process. Backtested relative Sharpe is a secondary signal rather than a stand-alone forecast. See methodology.
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