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FNXvsMSSMETF Comparison
First Trust Mid Cap Core AlphaDEX Fund ETF (FNX) and Morgan Stanley Pathway Small-Mid Cap Equity ETF (MSSM) belong to the same industry segment: US Multi-Factor. FNX's top 3 sector exposures are Industrials, Financials and Consumer Discretionary. In contrast, MSSM's top sector exposures are Industrials, Information Technology and Financials. FNX is less expensive with a Total Expense Ratio (TER) of 0.62%, versus 0.9% for MSSM. FNX is up 1.08% year-to-date (YTD) with +$21M in YTD flows. MSSM performs better with 3.72% YTD performance, and -$8M in YTD flows. Run a side-by-side ETF comparison of FNX and MSSM below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
FNX vs MSSM performance and flow charts
Performance
Cumulative Flows
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FNX MSSM | -5.79%-4.72% | -0.94%+0.31% | +1.08%+3.72% | +19.84%+25.25% | +51.83%n/a | +40.43%n/a |
| Flows | FNX MSSM | +$14M- | +$21M+$7M | +$21M-$8M | -$107M+$49M | -$155M- | -$11M- |
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FNX MSSM | +15.52%+16.79% | +21.60%+22.01% | +19.27%n/a | +20.85%n/a |
| Max drawdown | FNX MSSM | -7.62%-5.51% | -15.29%-16.45% | -25.04%n/a | -25.04%n/a |
| Max drawdown duration | FNX MSSM | 30d13d | 46d49d | 289dn/a | 289dn/a |
FNX | MSSM | |
Last sale 3/13/2026 at 1:30 PM | $126.96 | $51.14 |
| Previous close 03/12/2026 | $127.23 | $51.25 |
| Consolidated volume 03/12/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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FNX | MSSM | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
FNX | MSSM | |
|---|---|---|
| Last price | $126.96 | $51.14 |
| 1D performance | -0.21% | -0.21% |
| AuM | $1.20 B | $699.97 M |
| E/R | 0.62% | 0.9% |
FNX | MSSM | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | First Trust | Morgan Stanley |
| Benchmark | NASDAQ AlphaDEX Mid Cap Core Index | - |
| N° of holdings | 419 | 1919 |
| Asset class | Equities | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | May 8, 2007 | December 9, 2024 |
| ESG | No | No |
Countries
Sectors
Diversification
Total weight of top 15 holdings out of 15
Total weight of top 15 holdings out of 15
Top 15 holdings
How have the FNX and MSSM ETFs performed in 2026?
As of March 12, 2026, FNX is up 1.08% year-to-date (YTD), while MSSM has returned 3.72%. That puts MSSM better performer ahead so far this year.
Which ETF is attracting more investor money: FNX or MSSM?
Year-to-date, the FNX ETF saw +$21M in flows, compared to -$8M for MSSM.
Which ETF is more volatile: FNX or MSSM?
Over the past year, FNX had a volatility of 21.6%, while MSSM experienced 22.01%.
Which ETF is bigger: FNX or MSSM?
As of March 12, 2026, FNX holds $1.20 B in assets under management (AUM), while MSSM manages $699.97 M.
What sectors do the FNX and MSSM ETFs invest in?
FNX leans toward sectors like Industrials, Financials and Consumer Discretionary. Meanwhile, MSSM focuses on Industrials, Information Technology and Financials.
What are the top holdings of the FNX ETF and MSSM ETF?
FNX top holdings include BLOOM ENERGY CORP, AST SPACEMOBILE and TTM TECHNOLOGIES. MSSM holds in its top three: US04351P1012, TECHNIPFMC PLC and COMFORT SYSTEMS USA.
Which ETF is more diversified: FNX or MSSM?
FNX holds 448 securities with 6.69% of its assets in the top 15. MSSM has 1968 securities and a top 15 weight of 10.34%.
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