FNY vs SCHM: Grades, Fees and Holdings Compared

First Trust Mid Cap Growth AlphaDEX Fund

FNYDNasdaq

Schwab U.S. Mid-Cap ETF

SCHMANYSE Arca

Overlap

24.8%by weight

Expense ratio

SCHM −0.70pt a year

FNY0.73%SCHM0.03%

Avg volume · 30D

SCHM 86.0×the volume

FNY20.7KSCHM1.78M

10Y return · a year

FNY +1.9pt

FNY+13.1%SCHM+11.2%

FNY vs SCHM Performance

Oct 29, 2021 – Oct 30, 2026

+30.2%FNY+39.8%SCHM

Expense ratio: FNY 0.73%; SCHM 0.03%, better
Fund size: FNY $549M; SCHM $14.8B
1Y total return: FNY +5.3%; SCHM +19.7%, better
Yield (12M): FNY 0.00%; SCHM 1.27%, better
Holdings: FNY 227; SCHM 502
Avg volume (30D): FNY 20.7K sh; SCHM 1.78M sh, better
NAV per share: FNY $98.11; SCHM $34.93
52W range

ETF.net Grade

Pillar letters and Scores for FNY, SCHM, with each pillar’s weight
Pillar	FNY	SCHM
Cost30% weight	F10	A86Higher
Mission25% weight	A79	A100Higher
Risk15% weight	F13	D36Higher
Tradability15% weight	C51	A82Higher
Holdings10% weight	C50	A87Higher
Durability5% weight	B55	A73Higher

Rank among US Mid-Cap funds

How we build Categories ›

Same Category. FNY and SCHM are both graded against the same 13 US Mid-Cap funds, so their Grades compare head to head.

US Mid-Cap⁠

Category · 13 funds

See all 13 ›

SCHM ranks 2nd and FNY 12th of 13 funds in the US Mid-Cap Category.

Rank 1AIMCBiShares Morningstar Mid-Cap ETFScore 82
Rank 2ASCHMSchwab U.S. Mid-Cap ETFScore 80
Rank 3AVOVanguard Morningstar Mid-Cap ETFScore 79
Rank 11CCZAInvesco Zacks Mid-Cap ETFScore 44
Rank 12DFNYFirst Trust Mid Cap Growth AlphaDEX FundScore 39
Rank 13FSMCPSMART Mid Cap ETFScore 14

Our read on each fund

ETF.net Research

FNYDFirst Trust Mid Cap Growth AlphaDEX Fund

SCHMASchwab U.S. Mid-Cap ETF

In short

FNY Most mid-cap funds just own the market. FNY runs Nasdaq's AlphaDEX screen instead: rank mid-cap growth names, cut the weakest, weight by score rather than size. A quant stock-picker in index clothing.

SCHM The forgotten middle of the US market, for three basis points. SCHM has tracked the Dow Jones U.S. Mid-Cap Total Stock Market Index since 2011, holding roughly 500 companies at a fee nobody in the category undercuts.

Stated mandate

FNY The Fund seeks to track, before fees and expenses, the price and yield performance of the Nasdaq AlphaDEX Mid Cap Growth Index. It uses an indexing approach, normally investing at least 90% of net assets in securities comprising that index.

SCHM The fund seeks to track, before fees and expenses, the total return of the Dow Jones U.S. Mid-Cap Total Stock Market Index.

Why people hold it

FNY AlphaDEX scores mid-cap names on growth and value measures, drops the low scorers, then weights survivors by rank, not market cap. Deliberately different from a cap-weighted index.ftportfolios.com
Spreads the bet across roughly 200-plus mid-cap stocks, with at least 90% of net assets in index constituents.
Trading since 2011, so this screen has a long public record across several market cycles.

SCHM 0.03% a year, 30 cents per $100. That ties VO for the lowest fee in the mid-cap group and runs well below the category's typical charge.schwabassetmanagement.com
Pure index plumbing: no stock picking, no tilts. The fund has tracked its benchmark closely, which is the whole job description here.
Roughly 500 mid-sized US companies, so no single name carries the fund. Broad enough to be a one-ticket middle slice.
A multi-billion-dollar fund trading since 2011 and among the stronger builds in its peer group, with active daily volume and tight handling.

Worth knowing

FNY At 0.73% a year the fee sits well above the mid-cap peer median near 0.15%; cap-weighted rivals VO and SCHM charge 0.03%. The screen has that hurdle to clear.
Thinly traded next to the mid-cap giants, so bid-ask spreads and order slippage matter more here.
Rank weighting tilts toward smaller, higher-momentum names, so results can diverge widely from a standard mid-cap index, in either direction.ftportfolios.com

SCHM Mid-caps swing harder than blue chips. This is full, undampened exposure to that middle tier, with nothing built in to soften rough stretches.
Every provider draws the mid-cap line differently. The Dow Jones index here won't hold the same names as a Russell or Morningstar mid-cap fund, so overlap with what you own varies.
Distributions land quarterly, and they're a byproduct of the index, not the point. This is a growth-of-capital vehicle, not an income one.

Full FNY profile⁠

Full SCHM profile⁠

FNY vs SCHM Holdings

How FNY and SCHM differ

Overlap by weight

24.8%

Shared holdings make up 57.4% of FNY and 26.3% of SCHM.

Level by level

Holdings137 in both24.8%
Sector11 Sectors83.5%
Asset classEquity100%
Countryby domicile99.6%

Sector

Sector weights in FNY and SCHM, widest gap first
Sector	More in FNYMore in SCHM	FNY	SCHM
Health Care	FNY +9.7 points	22.6%	12.9%
Financials	SCHM +4.3 points	9.1%	13.4%
Technology	FNY +3.7 points	21.3%	17.6%
Materials	SCHM +3.0 points	1.3%	4.3%
Utilities	SCHM +2.7 points	0.3%	3.0%
Energy	SCHM +2.6 points	1.3%	3.9%
Consumer Discretionary	FNY +2.1 points	12.9%	10.8%
Real Estate	SCHM +2.0 points	6.1%	8.1%
Consumer Staples	SCHM +1.5 points	2.7%	4.2%
Industrials	FNY +1.1 points	19.9%	18.8%
Communication	SCHM +0.5 points	2.5%	3.0%

Country, concentration and asset class

Country by domicile

Country weights in FNY and SCHM, widest gap first
Country	More in FNYMore in SCHM	FNY	SCHM
United States	SCHM +0.1 points	99.5%	99.6%
Switzerland	FNY +0.4 points	0.5%	0.1%
Sweden	SCHM +0.2 points	0.0%	0.2%
India	SCHM +0.1 points	0.0%	0.1%

Concentration

Weight in the 10 largest Holdings

FNY8.9%
SCHM4.9%

Securities held

FNY226
SCHM502

Asset class

FNY: Equity
SCHM: Equity

Holdings

Only in FNY89
In both137
Only in SCHM365

Only in FNY

89 securities, 42.5% of FNY by weight

Hinge Health, Inc. (Class A)0.87%
Concentra Group Holdings Parent, Inc.0.87%
PACS Group, Inc.0.86%
GitLab Inc. (Class A)0.85%
Haemonetics Corporation0.84%
Remitly Global, Inc.0.84%
Caris Life Sciences, Inc.0.83%
LifeStance Health Group, Inc.0.83%
TG Therapeutics, Inc.0.82%
Victoria's Secret & Co.0.81%
RingCentral, Inc. (Class A)0.81%
Dropbox, Inc. (Class A)0.80%
The Cheesecake Factory Incorporated0.80%
Amneal Pharmaceuticals, Inc.0.79%
Box, Inc. (Class A)0.77%
Ligand Pharmaceuticals Inc. (Class B)0.77%
Matson, Inc.0.76%
Victory Capital Holdings, Inc. (Class A)0.74%
Zeta Global Holdings Corp. (Class A)0.73%
Virtu Financial, Inc. (Class A)0.72%
Frontdoor, Inc.0.71%
Oceaneering International, Inc.0.70%
The Chefs' Warehouse, Inc.0.69%
Xometry, Inc. (Class A)0.68%
Eastern Bankshares, Inc.0.64%
Travere Therapeutics, Inc.0.64%
RadNet, Inc.0.63%
Enova International, Inc.0.62%
Materion Corporation0.61%
Plexus Corp.0.59%
CSW Industrials, Inc.0.59%
Amylyx Pharmaceuticals, Inc.0.59%
Twist Bioscience Corporation0.59%
PriceSmart, Inc.0.58%
Moog Inc.0.55%
CG Oncology, Inc.0.54%
Sensient Technologies Corporation0.54%
Laureate Education, Inc. (Class A)0.52%
ACI Worldwide, Inc.0.51%
Griffon Corporation0.48%
Sphere Entertainment Co.0.48%
Tidewater Inc.0.48%
Garrett Motion Inc.0.48%
GATX Corporation0.48%
AppFolio, Inc. (Class A)0.47%
PJT Partners Inc. (Class A)0.47%
10X Genomics, Inc. (Class A)0.46%
Varonis Systems, Inc.0.46%
Americold Realty Trust Inc.0.46%
Relay Therapeutics, Inc.0.45%

Only in SCHM

365 securities, 73.7% of SCHM by weight

Okta Class A0.74%
United Therapeutics0.51%
Guardant Health0.50%
Entegris Inc0.49%
Packaging Corp of America0.46%
Reliance0.45%
Us Foods Holding0.45%
Omnicom Group Inc0.45%
Viatris0.45%
Tenet Healthcare Corp0.44%
Nisource0.43%
Xpo0.43%
Permian Resources Class A0.43%
Ptc0.43%
Cdw0.42%
Roku Class A0.42%
F50.42%
Skyworks Solutions0.41%
Td Synnex0.41%
Ftai Aviation0.41%
Royal Gold0.41%
Incyte Corp0.40%
Ovintiv0.40%
Evergy0.40%
Texas Pacific Land0.39%
Nutanix Class A0.39%
Woodward0.38%
Snap On Inc0.37%
Revvity0.37%
Loews0.37%
Alliant Energy Corp0.37%
East West Bancorp0.37%
Itt Inc0.37%
Apa0.36%
Jacobs Solutions Inc0.36%
Cf Industries Holdings Inc0.36%
Wesco International0.36%
Idex0.36%
Host Hotels & Resorts Reit0.36%
Macom Technology Solutions0.35%
Nordson0.35%
Api Group0.35%
Hf Sinclair0.35%
Reinsurance Group of America0.35%
Ball Corp0.35%
Hasbro0.34%
Kimco Realty Reit Corp0.33%
Rb Global0.33%
Jones Lang Lasalle0.33%
Circle Internet Group Inc Class A0.33%

Weight gaps

The 100 widest of 137 Holdings in both funds.

Holding weights in FNY and SCHM, widest gap first
Holding	More in FNYMore in SCHM	FNY	SCHM
Glaukos CorporationGKOS	FNY +0.79 points	1.08%	0.29%
Qualys, Inc.QLYS	FNY +0.73 points	0.89%	0.16%
Chime Financial, Inc. (Class A)CHYM	FNY +0.65 points	0.78%	0.13%
Brinker International, Inc.EAT	FNY +0.63 points	0.82%	0.19%
Morningstar, Inc.MORN	FNY +0.62 points	0.71%	0.09%
SentinelOne, Inc. (Class A)S	FNY +0.61 points	0.79%	0.17%
Maplebear Inc. (Instacart)CART	FNY +0.60 points	0.78%	0.18%
Coca-Cola Consolidated, Inc.COKE	FNY +0.59 points	0.83%	0.24%
ImmunityBio, Inc.IBRX	FNY +0.58 points	0.65%	0.07%
Etsy, Inc.ETSY	FNY +0.58 points	0.74%	0.16%
Halozyme Therapeutics, Inc.HALO	FNY +0.58 points	0.88%	0.30%
Protagonist Therapeutics, Inc.PTGX	FNY +0.57 points	0.76%	0.19%
Oscar Health, Inc. (Class A)OSCR	FNY +0.57 points	0.73%	0.16%
Exelixis, Inc.EXEL	FNY +0.55 points	0.88%	0.33%
Charles River Laboratories International, Inc.CRL	FNY +0.55 points	0.91%	0.36%
Five Below, Inc.FIVE	FNY +0.55 points	0.82%	0.27%
UiPath, Inc. (Class A)PATH	FNY +0.52 points	0.64%	0.12%
Bruker CorporationBRKR	FNY +0.52 points	0.66%	0.14%
Commvault Systems, Inc.CVLT	FNY +0.52 points	0.66%	0.14%
DaVita Inc.DVA	FNY +0.51 points	0.64%	0.13%
Life Time Group Holdings, Inc.LTH	FNY +0.50 points	0.67%	0.17%
BrightSpring Health Services, Inc.BTSG	FNY +0.49 points	0.70%	0.21%
Kymera Therapeutics, Inc.KYMR	FNY +0.49 points	0.67%	0.18%
FirstCash Holdings, Inc.FCFS	FNY +0.49 points	0.64%	0.15%
Tempus AI, Inc. (Class A)TEM	FNY +0.48 points	0.66%	0.18%
Ryman Hospitality Properties, Inc.RHP	FNY +0.47 points	0.66%	0.19%
Ryan Specialty Holdings, Inc. (Class A)RYAN	FNY +0.44 points	0.53%	0.09%
ViaSat, Inc.VSAT	FNY +0.43 points	0.65%	0.22%
Ralliant CorporationRAL	FNY +0.42 points	0.58%	0.16%
Match Group Inc.MTCH	FNY +0.41 points	0.61%	0.20%
DocuSign, Inc.DOCU	FNY +0.42 points	0.73%	0.31%
Wayfair Inc. (Class A)W	FNY +0.39 points	0.67%	0.28%
Dynatrace, Inc.DT	FNY +0.38 points	0.74%	0.36%
Sanmina CorporationSANM	FNY +0.38 points	0.57%	0.19%
Allison Transmission Holdings, Inc.ALSN	FNY +0.39 points	0.57%	0.18%
SEI Investments CompanySEIC	FNY +0.38 points	0.60%	0.22%
Rubrik, Inc. (Class A)RBRK	FNY +0.38 points	0.81%	0.43%
Primo Brands Corporation (Class A)PRMB	FNY +0.36 points	0.46%	0.10%
Amkor Technology, Inc.AMKR	FNY +0.35 points	0.45%	0.10%
Littelfuse, Inc.LFUS	FNY +0.34 points	0.55%	0.21%
TPG Inc. (Class A)TPG	FNY +0.33 points	0.47%	0.14%
Sotera Health CompanySHC	FNY +0.33 points	0.44%	0.11%
Credit Acceptance CorporationCACC	FNY +0.33 points	0.39%	0.06%
MSA Safety IncorporatedMSA	FNY +0.32 points	0.45%	0.13%
Compass, Inc. (Class A)COMP	FNY +0.31 points	0.45%	0.14%
Repligen CorporationRGEN	FNY +0.31 points	0.55%	0.24%
Applied Industrial Technologies, Inc.AIT	FNY +0.31 points	0.53%	0.22%
IES Holdings, Inc.IESC	FNY +0.30 points	0.38%	0.08%
Hims & Hers Health, Inc.HIMS	FNY +0.28 points	0.41%	0.13%
Globus Medical, Inc. (Class A)GMED	FNY +0.28 points	0.47%	0.19%
Hecla Mining CompanyHL	FNY +0.27 points	0.47%	0.20%
Flowserve CorporationFLS	FNY +0.27 points	0.48%	0.21%
Manhattan Associates, Inc.MANH	FNY +0.28 points	0.56%	0.28%
Pinterest, Inc. (Class A)PINS	FNY +0.28 points	0.46%	0.18%
Krystal Biotech, Inc.KRYS	FNY +0.28 points	0.45%	0.17%
Clean Harbors, Inc.CLH	FNY +0.27 points	0.58%	0.31%
Element Solutions IncESI	FNY +0.26 points	0.42%	0.16%
Corcept Therapeutics Inc.CORT	FNY +0.25 points	0.42%	0.17%
American Airlines Group Inc.AAL	FNY +0.25 points	0.42%	0.17%
StoneX Group Inc.SNEX	FNY +0.24 points	0.36%	0.12%
Watts Water Technologies, Inc.WTS	FNY +0.25 points	0.44%	0.19%
Valmont Industries, Inc.VMI	FNY +0.24 points	0.41%	0.17%
Crane CompanyCR	FNY +0.22 points	0.43%	0.21%
Axsome Therapeutics, Inc.AXSM	FNY +0.22 points	0.35%	0.13%
TTM Technologies, Inc.TTMI	FNY +0.21 points	0.40%	0.19%
AGNC Investment Corp.AGNC	FNY +0.22 points	0.43%	0.21%
Madrigal Pharmaceuticals, Inc.MDGL	FNY +0.21 points	0.38%	0.17%
Procore Technologies, Inc.PCOR	FNY +0.20 points	0.35%	0.15%
FormFactor, Inc.FORM	FNY +0.20 points	0.35%	0.15%
Vicor CorporationVICR	FNY +0.20 points	0.30%	0.10%
Ralph Lauren CorporationRL	FNY +0.18 points	0.49%	0.31%
Figma, Inc. (Class A)FIG	FNY +0.19 points	0.31%	0.12%
Alkermes PlcALKS	FNY +0.18 points	0.33%	0.15%
RBC Bearings IncorporatedRBC	SCHM +0.18 points	0.14%	0.32%
Kinsale Capital Group, Inc.KNSL	FNY +0.18 points	0.34%	0.16%
Samsara Inc. (Class A)IOT	FNY +0.18 points	0.49%	0.31%
HealthEquity, Inc.HQY	FNY +0.17 points	0.34%	0.17%
Armstrong World Industries, Inc.AWI	FNY +0.17 points	0.31%	0.14%
Federal Signal CorporationFSS	FNY +0.16 points	0.30%	0.14%
Semtech CorporationSMTC	FNY +0.15 points	0.42%	0.27%
Neurocrine Biosciences, Inc.NBIX	FNY +0.16 points	0.46%	0.30%
Terreno Realty CorporationTRNO	FNY +0.16 points	0.30%	0.14%
Hexcel CorporationHXL	FNY +0.16 points	0.28%	0.12%
Lincoln Electric Holdings, Inc.LECO	FNY +0.16 points	0.47%	0.31%
Zurn Elkay Water Solutions Corp.ZWS	FNY +0.16 points	0.29%	0.13%
Viavi Solutions Inc.VIAV	FNY +0.15 points	0.32%	0.17%
Talen Energy CorporationTLN	SCHM +0.15 points	0.16%	0.31%
Bitmine Immersion Technologies, Inc.BMNR	SCHM +0.15 points	0.11%	0.26%
Somnigroup International IncSGI	SCHM +0.15 points	0.15%	0.30%
CareTrust REIT, Inc.CTRE	FNY +0.13 points	0.30%	0.17%
Aurora Innovation, Inc.AUR	FNY +0.10 points	0.23%	0.13%
Evercore Inc.EVR	FNY +0.11 points	0.34%	0.23%
Tyler Technologies, Inc.TYL	SCHM +0.11 points	0.18%	0.29%
Loar Holdings Inc.LOAR	FNY +0.10 points	0.15%	0.05%
DigitalOcean Holdings, Inc.DOCN	FNY +0.10 points	0.30%	0.20%
Generac Holdings Inc.GNRC	SCHM +0.10 points	0.14%	0.24%
Arrowhead Pharmaceuticals, Inc.ARWR	FNY +0.10 points	0.27%	0.17%
QXO, Inc.QXO	SCHM +0.10 points	0.14%	0.24%
ServiceTitan, Inc. (Class A)TTAN	FNY +0.09 points	0.19%	0.10%
Tradeweb Markets Inc. (Class A)TW	SCHM +0.09 points	0.18%	0.27%

All 226 FNY holdings⁠All 503 SCHM holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

FNY vs SCHM Cost

Overpaying FNY vs SCHM

$13,495

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

FNY 0.73%
$14,133
SCHM 0.03%
$638

Amount$10,000

Years30 years

Cost over time

FNY 0.73%
SCHM 0.03%
Overpaying

Year by year

Year	FNY	SCHM	Overpaying
10	$1,302	$55	$1,247
20	$4,952	$216	$4,736
30	$14,133	$638	$13,495

Expense ratio

0.73%FNY
0.03%SCHM, cheaper

SCHM0.03%FNY0.73%

0.03%0.79%

Middle half of US Mid-Cap funds
Median 0.15%

SCHM cheapest of 13 funds

FNY 12th cheapest of 13 funds

FNY vs SCHM Dividends

Last 12 months to Oct 30, 2026

Yield (12M): FNY 0.00%; SCHM 1.27%, better
Payout (12M): FNY None; SCHM $0.44
Last payment: FNY No data; SCHM $0.13
Ex-dividend: FNY No data; SCHM Sep 23, 2026
Paid on: FNY No data; SCHM Sep 28, 2026
Frequency: FNY No data; SCHM Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

FNY17 paymentsAll FNY payments⁠

SCHMQuarterly · 40 paymentsAll SCHM payments⁠

FNY vs SCHM Risk

Fall from peak · 5 years

FNY
SCHM

Risk facts

VolatilityStd dev, 3 years: FNY 18.8%SCHM 15.8%, better
Return per unit of riskSharpe ratio, 3 years: FNY 0.86SCHM 0.93, better
Worst fallMax drawdown, 5 years: FNY −33.9%SCHM −26.5%, better
Market sensitivityBeta, 5 years: FNY 1.20SCHM 1.06; Market = 1

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