MSSMvsAFMCETF Comparison
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Morgan Stanley Pathway Small-Mid Cap Equity ETF (MSSM) and First Trust Active Factor Mid Cap ETF (AFMC) belong to the same industry segment: US Multi-Factor. Both ETFs have the same top 3 sector exposures: Industrials, Information Technology and Financials. MSSM is more expensive with a Total Expense Ratio (TER) of 0.9%, versus 0.65% for AFMC. MSSM is up 12.8% year-to-date (YTD) with -$41M in YTD flows. AFMC performs worse with 12.24% YTD performance, and +$40M in YTD flows. Run a side-by-side ETF comparison of MSSM and AFMC below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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MSSM vs AFMC performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 04/24/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | MSSM AFMC | +9.91%+8.14% | +5.26%+6.69% | +12.80%+12.24% | +40.13%+30.93% | n/a+71.53% | n/a+58.67% |
| Flows | MSSM AFMC | -$35M+$4M | -$33M+$33M | -$41M+$40M | -$32M+$71M | -+$122M | -+$124M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MSSM AFMC | +20.29%+17.15% | +17.35%+15.10% | n/a+17.73% | n/a+19.46% |
| Max drawdown | MSSM AFMC | -9.62%-8.15% | -9.62%-8.15% | n/a-21.83% | n/a-25.69% |
| Max drawdown duration | MSSM AFMC | 46d47d | 46d47d | n/a289d | n/a752d |
Trading data
MSSM | AFMC | |
Last sale 4/27/2026 at 7:06 PM | $56.90 | $38.66 |
| Previous close 04/24/2026 | $56.96 | $38.56 |
| Consolidated volume 04/24/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 4/27/2026 at 7:06 PM
Live
Closed
MSSM | AFMC | |
|---|---|---|
| Last price | $56.90 | $38.66 |
| 1D performance | -0.11% | +0.26% |
| AuM | $724.19 M | $150.42 M |
| E/R | 0.9% | 0.65% |
Characteristics
MSSM | AFMC | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | Morgan Stanley | First Trust |
| Benchmark | - | - |
| N° of holdings | 1902 | 262 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | December 9, 2024 | December 3, 2019 |
| ESG | No | No |
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Exposure
Countries
MSSM
USA
79.68%
Other
20.32%
AFMC
USA
92.93%
Other
7.07%
Sectors
MSSM
Industrials
19.29%
Information Techn.
17.22%
Financials
11.21%
Health Care
9.3%
Consumer Discreti.
7.76%
Other
35.23%
AFMC
Industrials
21.47%
Information Techn.
16.45%
Financials
14.01%
Consumer Discreti.
11.91%
Health Care
9.39%
Other
26.77%
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Diversification
MSSM
Total weight of top 15 holdings out of 15
10.47%
AFMC
Total weight of top 15 holdings out of 15
16.96%
Top 15 holdings
Data as of March 31, 2026
MSSM
COMFORT SYSTEMS USA
1.13%
TECHNIPFMC PLC
1.07%
US04351P1012
1.03%
CIENA
0.86%
VIASAT
0.80%
BLOOM ENERGY CORP
0.73%
ORMAT TECHNOLOGIES
0.59%
PLEXUS
0.57%
RESIDEO TECHNOLOGIES
0.56%
REGAL REXNORD CORP
0.55%
FABRINET
0.54%
TEXAS CAPITAL
0.54%
ITT
0.52%
CALIX NETWORKS
0.51%
PRIMORIS SERVICES
0.48%
AFMC
TECHNIPFMC PLC
1.51%
CASEYS GENERAL STORES
1.41%
MUELLER INDUSTRIES
1.29%
BORGWARNER
1.24%
FEDERATED HERMES
1.22%
EXELIXIS
1.13%
RENAISSANCERE
1.10%
ALCOA CORP
1.10%
CURTISS WRIGHT
1.08%
NFG
1.07%
WOODWARD
1.04%
FLEX LTD
1.01%
AFFILIATED MANAGERS GROUP
0.94%
UTD THERAPEUT
0.93%
COMFORT SYSTEMS USA
0.89%
Frequently asked questions about MSSM and AFMC
How have the MSSM and AFMC ETFs performed in 2026?
As of April 24, 2026, MSSM is up 12.8% year-to-date (YTD), while AFMC has returned 12.24%. That puts MSSM better performer ahead so far this year.
Which ETF is attracting more investor money: MSSM or AFMC?
Year-to-date, the MSSM ETF saw -$41M in flows, compared to +$40M for AFMC.
Which ETF is more volatile: MSSM or AFMC?
Over the past year, MSSM had a volatility of 17.35%, while AFMC experienced 15.1%.
Which ETF is bigger: MSSM or AFMC?
As of April 24, 2026, MSSM holds $724.19 M in assets under management (AUM), while AFMC manages $150.42 M.
What sectors do the MSSM and AFMC ETFs invest in?
MSSM leans toward sectors like Industrials, Information Technology and Financials. Meanwhile, AFMC focuses on Industrials, Information Technology and Financials.
What are the top holdings of the MSSM ETF and AFMC ETF?
MSSM top holdings include COMFORT SYSTEMS USA, TECHNIPFMC PLC and US04351P1012. AFMC holds in its top three: TECHNIPFMC PLC, CASEYS GENERAL STORES and MUELLER INDUSTRIES.
Which ETF is more diversified: MSSM or AFMC?
MSSM holds 1949 securities with 10.47% of its assets in the top 15. AFMC has 268 securities and a top 15 weight of 16.96%.
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