AFGR vs MMLG
First Trust Active Factor Large Cap Growth ETF vs First Trust Multi-Manager Large Growth ETF
Which is better, AFGR or MMLG?
Nearly the same fund. AFGR costs less.
AFGR has a lower expense ratio. MMLG led over 1Y and the full window. The two have moved almost in lockstep, correlation 1.00.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | AFGR | MMLG |
|---|---|---|
| Expense Ratio | 0.65%Best | 0.85% |
| AUM | $93M | $95M |
| Dividend Yield | 0.01% | 0.00% |
| Holdings | 91 | 75 |
| Volatility (annualized) | 21.3%Tie | 21.3%Tie |
| Max Drawdown | -46.0%Tie | -46.0%Tie |
| $10,000 over 5.9 years | $18,757 | $18,797Best |
| Fund Family | First Trust Portfolios (US) | First Trust Portfolios (US) |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Growth |
| Inception | Jul 20, 2020 | Jul 20, 2020 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized), Top 10 Weight.
The two price series end 132 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. AFGR has data through Oct 14, 2026 and MMLG through Jun 4, 2026.
Volatility and max drawdown, and the $10,000 over 5.9 years row, are measured over the window both funds cover: Jul 22, 2020 to Jun 4, 2026 (5.9 years).
Risk: Volatility and Drawdowns
AFGR and MMLG have been equally volatile, both at 21.3% annualized.
The deepest peak-to-trough decline in our data was -46.0% for AFGR and -46.0% for MMLG. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 1.00. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
AFGR charges 0.65% per year while MMLG charges 0.85%. On a $10,000 position that is $65 vs $85 annually, a gap of $20 per year that compounds over a long holding period. On income, AFGR currently yields 0.01% against 0.00% for MMLG.
Holdings Overlap
At least 70.0% of AFGR's money is in holdings MMLG also owns.
Stated as a floor: for MMLG, our book for it covers 94.9% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
The two portfolios partly overlap.
The two holdings books were reported 161 days apart, AFGR as of Oct 8, 2026 and MMLG as of Apr 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
43 positions in common, counted across the 90 positions we hold weights for in AFGR and 76 in MMLG, against full books of 91 and 75.
Top Shared Holdings
| Stock | Weight in AFGR | Weight in MMLG | Difference |
|---|---|---|---|
| NVDANvidia Corp | 10.92% | 12.60% | 1.68% |
| GOOGLAlphabet Inc | 10.83% | 6.30% | 4.53% |
| AMZNAmazon.Com Inc | 3.94% | 5.49% | 1.55% |
| MSFTMicrosoft Corp | 4.43% | 4.69% | 0.26% |
| AAPLApple, Inc | 4.39% | 4.14% | 0.25% |
| AVGOBroadcom Inc | 3.08% | 4.62% | 1.54% |
| METAMeta Platforms Inc | 2.98% | 4.20% | 1.22% |
| VVisa Inc Class A | 2.03% | 1.72% | 0.31% |
| SPOTSpotify Technology S.A. Ordinary Shares | 1.59% | 1.99% | 0.40% |
| AMDAdvanced Micro Devices Inc | 2.27% | 0.91% | 1.36% |
70.0% of AFGR is already inside MMLG.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
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Frequently Asked Questions
Which is cheaper, AFGR or MMLG?
AFGR has an expense ratio of 0.65% while MMLG charges 0.85%. AFGR is the cheaper option, by $20 a year on a $10,000 investment.
Which is riskier, AFGR or MMLG?
AFGR and MMLG have been equally volatile, both at 21.3% annualized. Worst drawdown: AFGR -46.0% vs MMLG -46.0%.
Should I hold both AFGR and MMLG?
AFGR and MMLG have a monthly-return correlation of 1.00, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between AFGR and MMLG?
At least 70.0% of AFGR's money is in holdings MMLG also owns. Our book for MMLG is partial, so the real figure is this or higher. They hold 43 positions in common, counted across the 90 positions we hold weights for in AFGR and 76 in MMLG.
Which pays a higher dividend, AFGR or MMLG?
AFGR yields 0.01% while MMLG yields 0.00%, so AFGR currently pays the higher dividend yield.
Is MMLG better than AFGR?
AFGR has a lower expense ratio. MMLG led over 1Y and the full window. The two have moved almost in lockstep, correlation 1.00. Which one suits a particular account depends on what it is for. This is information, not a recommendation.