BROUGHT TO YOU BY:

ETF Portfolio Builder

New

ETF Portfolio Builder

New

FABvsPAPIETF Comparison

ETF 1

FAB

First Trust Multi Cap Value AlphaDEX Fund ETF

This fund is part of

US Multi-Factor

+0%

Full FAB fund page

VS

ETF 2

PAPI

Parametric Equity Premium Income ETF

This fund is part of

Options Strategies

-0.04%

Full PAPI fund page

First Trust Multi Cap Value AlphaDEX Fund ETF (FAB) belongs to the US Multi-Factor segment. Parametric Equity Premium Income ETF (PAPI) is part of the Options Strategies segment. FAB's top 3 sector exposures are Financials, Energy and Consumer Discretionary. In contrast, PAPI's top sector exposures are Energy, Information Technology and Consumer Discretionary. FAB is more expensive with a Total Expense Ratio (TER) of 0.66%, versus 0.29% for PAPI. FAB is up 10.81% year-to-date (YTD) with +$4M in YTD flows. PAPI performs worse with 5.1% YTD performance, and +$86M in YTD flows. Run a side-by-side ETF comparison of FAB and PAPI below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.

Find out how industry players manage ETF portfolios. Discover our library of Model portfolios

FAB vs PAPI performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Daily, global ETF data for advanced analysis or integration into apps (API), from our partner Trackinsight.

Data Services

Historic performance and flows

Data as of 04/24/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	FAB PAPI	+4.77%-1.75%	+5.61%+0.02%	+10.81%+5.10%	+32.45%+13.05%	+50.40%n/a	+50.58%n/a
Flows	FAB PAPI	-$493K+$34M	+$4M+$77M	+$4M+$86M	-$4M+$172M	-$126M-	-$15M-

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	FAB PAPI	+12.31%+10.17%	+14.72%+10.37%	+17.37%n/a	+19.09%n/a
Max drawdown	FAB PAPI	-6.70%-5.39%	-6.70%-5.39%	-22.74%n/a	-22.74%n/a
Max drawdown duration	FAB PAPI	53d53d	53d53d	366dn/a	366dn/a

Trading data

Create an account to view trading data

Join for free

	FAB	PAPI
Last sale 4/28/2026 at 3:21 PM	$98.86	$26.67
Previous close 04/27/2026	$98.63	$26.64
Consolidated volume 04/27/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of March 31, 2026

1-year trailing difference

Create an account to view replication metrics

Join for free

PAPI

is actively managed and doesn’t replicate an index

Create an account to view replication quality

Join for free

	FAB	PAPI
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 4/28/2026 at 3:21 PM

Live

Closed

	FAB	PAPI
Last price	$98.86	$26.67
1D performance	+0.23%	+0.11%
AuM	$137.72 M	$362.95 M
E/R	0.66%	0.29%

Characteristics

	FAB	PAPI
Management strategy	Passive	Active
Provider	First Trust	Morgan Stanley
Benchmark	NASDAQ AlphaDEX Multi Cap Value Index	-
N° of holdings	636	183
Asset class	Equities	-
Trailing 12m distribution yield	Join	Join
Inception date	May 8, 2007	October 19, 2023
ESG	No	No

More FAB data on Trackinsight

More PAPI data on Trackinsight

Exposure

Countries

FAB

USA

93.6%

Other

6.4%

PAPI

USA

88.73%

Other

11.27%

Sectors

FAB

Financials

18.83%

Energy

15.48%

Consumer Discreti.

10.76%

Utilities

10.19%

Industrials

9.77%

Other

34.97%

PAPI

Energy

11.8%

Information Techn.

11.24%

Consumer Discreti.

10.11%

Utilities

9.9%

Materials

9.88%

Industrials

9.4%

Other

37.67%

Diversification

FAB

Total weight of top 15 holdings out of 15

8.45%

PAPI

Total weight of top 15 holdings out of 15

10.87%

Top 15 holdings

Data as of March 31, 2026

FAB

CF INDUSTRIES HOLDINGS

0.70%

OCCIDENTAL U

0.64%

DOW INC

0.59%

CONOCOPHILLIPS

0.58%

EOG RESOURCES

0.57%

EXXON

0.57%

DEVON ENERGY

0.56%

CHEVRON TEXACO

0.55%

COTERRA ENERGY

0.55%

SCHLUMBERGER

0.55%

DIAMONDBACK ENERGY

0.54%

VERIZON COMMUNICATIONS

0.52%

TARGET

0.52%

EDISON INTERNATIONAL

0.52%

PFIZER

0.49%

PAPI

PATTERSON UTI

0.84%

US71424F1057

0.82%

CORNING

0.76%

VALERO ENERGY

0.75%

LYONDELLBASELL INDUSTRIES

0.74%

GB00BMXNWH07

0.73%

PHILLIPS 66

0.73%

MAGNOLIA OIL AND GAS CORP

0.72%

CHORD ENERGY CORPORATION

0.70%

EXXON

0.69%

DOW INC

0.69%

CHEVRON TEXACO

0.69%

INTERNATIONAL SEAWAYS

0.68%

ROYALTY PHARMA

0.67%

COTERRA ENERGY

0.67%

Frequently asked questions about FAB and PAPI

How have the FAB and PAPI ETFs performed in 2026?

As of April 24, 2026, FAB is up 10.81% year-to-date (YTD), while PAPI has returned 5.1%. That puts FAB better performer ahead so far this year.

Which ETF is attracting more investor money: FAB or PAPI?

Year-to-date, the FAB ETF saw +$4M in flows, compared to +$86M for PAPI.

Which ETF is more volatile: FAB or PAPI?

Over the past year, FAB had a volatility of 14.72%, while PAPI experienced 10.37%.

Which ETF is bigger: FAB or PAPI?

As of April 24, 2026, FAB holds $137.72 M in assets under management (AUM), while PAPI manages $362.95 M.

What sectors do the FAB and PAPI ETFs invest in?

FAB leans toward sectors like Financials, Energy and Consumer Discretionary. Meanwhile, PAPI focuses on Energy, Information Technology and Consumer Discretionary.

FABvsPAPIETF Comparison

First Trust Multi Cap Value AlphaDEX Fund ETF

Parametric Equity Premium Income ETF

FAB vs PAPI performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Countries

Sectors

Diversification

Top 15 holdings

How have the FAB and PAPI ETFs performed in 2026?

As of April 24, 2026, FAB is up 10.81% year-to-date (YTD), while PAPI has returned 5.1%. That puts FAB better performer ahead so far this year.

Which ETF is attracting more investor money: FAB or PAPI?

Year-to-date, the FAB ETF saw +$4M in flows, compared to +$86M for PAPI.

Which ETF is more volatile: FAB or PAPI?

Over the past year, FAB had a volatility of 14.72%, while PAPI experienced 10.37%.

Which ETF is bigger: FAB or PAPI?

As of April 24, 2026, FAB holds $137.72 M in assets under management (AUM), while PAPI manages $362.95 M.

What sectors do the FAB and PAPI ETFs invest in?

FAB leans toward sectors like Financials, Energy and Consumer Discretionary. Meanwhile, PAPI focuses on Energy, Information Technology and Consumer Discretionary.

What are the top holdings of the FAB ETF and PAPI ETF?

FAB top holdings include CF INDUSTRIES HOLDINGS, OCCIDENTAL U and DOW INC. PAPI holds in its top three: PATTERSON UTI, US71424F1057 and CORNING.

Which ETF is more diversified: FAB or PAPI?

FAB holds 668 securities with 8.45% of its assets in the top 15. PAPI has 188 securities and a top 15 weight of 10.87%.

Have you tried our ETF Compare tool?