AFSM vs NSCS
First Trust Active Factor Small Cap ETF vs Nuveen Small Cap Select ETF
Which is better, AFSM or NSCS?
Nearly the same fund. AFSM costs less.
AFSM has a lower expense ratio. AFSM led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.97.
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 | AFSM | NSCS |
|---|---|---|
| Expense Ratio | 0.75%Best | 0.86% |
| AUM | $130M | $7M |
| Dividend Yield | 0.52% | 0.31% |
| Holdings | 657 | 82 |
| Volatility (annualized) | 21.0% | 20.8%Best |
| Max Drawdown | -28.3%Best | -30.6% |
| $10,000 over 3.9 years | $11,688Best | $10,688 |
| Fund Family | First Trust Portfolios (US) | Nuveen |
| Category | Equity | Equity |
| Style | Small Cap Blend | Small Cap Blend |
| Inception | Dec 4, 2019 | Aug 4, 2021 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized), Top 10 Weight.
The two price series end 478 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. AFSM has data through Oct 14, 2026 and NSCS through Jun 23, 2025.
Volatility and max drawdown, and the $10,000 over 3.9 years row, are measured over the window both funds cover: Aug 5, 2021 to Jun 23, 2025 (3.9 years).
Risk: Volatility and Drawdowns
AFSM has been the more volatile fund, with annualized monthly volatility of 21.0% compared with 20.8% for NSCS. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -28.3% for AFSM and -30.6% for NSCS. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.97. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
AFSM charges 0.75% per year while NSCS charges 0.86%. On a $10,000 position that is $75 vs $86 annually, a gap of $11 per year that compounds over a long holding period. On income, AFSM currently yields 0.52% against 0.31% for NSCS.
You are not choosing between two funds in isolation.
Whichever of AFSM and NSCS you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, AFSM or NSCS?
AFSM has an expense ratio of 0.75% while NSCS charges 0.86%. AFSM is the cheaper option, by $11 a year on a $10,000 investment.
Which is riskier, AFSM or NSCS?
AFSM has been the more volatile fund at 21.0% annualized versus 20.8% for NSCS. Worst drawdown: AFSM -28.3% vs NSCS -30.6%.
Should I hold both AFSM and NSCS?
AFSM and NSCS have a monthly-return correlation of 0.97, 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.
Which pays a higher dividend, AFSM or NSCS?
AFSM yields 0.52% while NSCS yields 0.31%, so AFSM currently pays the higher dividend yield.
Is NSCS better than AFSM?
AFSM has a lower expense ratio. AFSM led over 1Y and the full window. The two have moved almost in lockstep, correlation 0.97. Which one suits a particular account depends on what it is for. This is information, not a recommendation.