Home 
Today's Top Picks 
Top Performers 
Watchlist 
My Robo Portfolios 
ETF Zone 
How It Works 
News - Chart
- Upturn Summary
- Fund Details
Upturn AI Summary
First Trust Active Factor Small Cap ETF(AFSM)
Advisory History & Simulated Performance *
*as per simulation (see disclosures)- ALL
- 1Y
- 1M
- 1W
- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- PASS (Skip)
Stock price based on last close Advisory Performance History (Simulated)
Upturn Advisory & Investor View for AFSM
10/02/2026: AFSM (3-star) is a REGULAR-BUY. BUY for 120 days. Simulated Profits (13.25%). Updated daily EoD!
AFSM provides active, factor-based exposure to US small-cap equities, aiming to outperform passive benchmarks by selecting stocks based on value and quality metrics. While it offers a more nuanced approach than market-cap-weighted indices, it carries higher management fees and greater volatility inherent to small-cap stocks. It serves as an excellent satellite holding for growth-oriented portfolios but requires a long-term perspective due to the cyclical nature of small-cap performance. Investors should monitor market interest rate trends and sector-specific earnings growth, as these are primary catalysts for small-cap stocks. It is most suitable for investors comfortable with equity volatility who believe in the potential of active factor selection.
How to Read the Upturn Advisory
The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.
ETF holdings, costs, diversification, valuation, risks, and market conditions provide supporting context about the fund.
Investor Fit
| Investor style | Fit | Why |
|---|---|---|
| Growth investor | Mixed fit | While it captures small-cap growth, the active factor tilt may emphasize value or quality over pure growth momentum. |
| Momentum investor | Strong fit while signal remains positive | The active strategy may incorporate momentum factors, making it a viable tool when market breadth supports small-cap outperformance. |
| Value investor | Strong fit | The fund's factor-based selection often emphasizes undervalued companies, aligning well with value-oriented objectives. |
| Dividend/Income investor | Weak fit | Small-cap stocks generally prioritize reinvestment over dividend payments, making this a poor fit for income-focused investors. |
| Low-risk investor | Weak fit | Small-cap equities are inherently volatile and generally unsuitable for investors prioritizing capital preservation. |
Investor Profile
Ideal Investor Profile
The ideal investor is one seeking active small-cap exposure with a tolerance for higher volatility and the patience to allow factor-based strategies to play out over a full market cycle.
Suitability
This fund is best suited for long-term investors looking to complement a core large-cap portfolio with a dedicated, actively managed small-cap allocation.
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Volatility | High | Small-cap stocks are subject to significant price fluctuations compared to the broader market. |
| Market risk | High | The fund is directly exposed to systemic risks affecting the broader equity market. |
| Concentration | Medium | While diversified, sector or factor tilts may result in concentrated exposure to specific economic drivers. |
| Tracking/expense | Medium | The higher expense ratio requires the manager to generate sufficient alpha to outperform cheaper passive alternatives. |
| Liquidity | Medium | Small-cap stocks may experience lower trading volumes, potentially impacting execution costs. |
| Business/sector quality | Medium / high | Small-cap companies often have less financial cushion than large-cap firms during economic downturns. |
Risk Analysis
Volatility
AFSM maintains higher volatility than broad market indices due to the inherent nature of its small-cap constituents.
Market Risk
The fund is subject to significant market beta; downturns in US economic health typically correlate with negative performance.
What the ETF Owns
| Exposure Type | Exposure | Weight (%) | Retail Investor Read |
|---|---|---|---|
| Market capitalization | US Small-Cap Equities | 98.5 | This provides broad exposure to smaller, potentially higher-growth US companies that may offer different risk-return profiles than large-cap stocks. |
| Cash/collateral | Cash and Cash Equivalents | 1.5 | This ensures sufficient liquidity for daily trade settlements and management operations. |
Price Behavior
Strong Uptrend
The stock has maintained a strong upward price trend across the last three quarters.
Very Smooth
The stock has followed a highly orderly price path with minimal short-term disruption.
Analysis of Past Performance
Type ETF | Historic Profit 13.26% | Avg. Invested days 61 | Today’s Advisory WEAK BUY |
Upturn Advisory Rating  | Upturn Advisory Performance  3.0 | ETF Returns Performance  3.0 |
| Profits based on simulation | Last Close 10/02/2026 |
ETF Fundamentals 
Source: EOD Historical Data • Updated Oct 2, 2026
Fund Basics
| Metric | Value |
|---|---|
| Fund Size (AUM) | $128.58M |
| Issuer | First Trust |
| Expense Ratio | 0.75% |
| Distribution Yield | 0.5% |
| Inception | Dec 3, 2019 |
Performance
| Period | Total Return |
|---|---|
| YTD | +20.89% |
| 1 Year | +21.86% |
| 3 Year | +18.89% |
| 5 Year | +9.46% |
| 10 Year | +0.00% |
Risk Metrics
| Metric | Value |
|---|---|
| 1Y Volatility | 17.13% |
| 3Y Volatility | 18.24% |
| 3Y Sharpe Ratio | 0.77 |
Ratings
| Metric | Value |
|---|---|
| Morningstar Rating | ★★★★★ |
Market Cap Distribution
| Cap Size | Weight |
|---|---|
| Micro Cap | 63.30% |
| Small Cap | 30.99% |
| Mid Cap | 5.58% |
Top Sectors
| Sector | Weight |
|---|---|
| Technology | 19.86% |
| Healthcare | 19.23% |
| Financial Services | 16.80% |
| Industrials | 12.26% |
Asset Allocation
Portfolio Characteristics
| Metric | Value |
|---|---|
| Portfolio P/E | 11.52x |
| Portfolio P/B | 1.76x |
| Portfolio P/S | 1.07x |
| Holdings Turnover | 59.0% |
Top Holdings
| Holding | Weight |
|---|---|
| Par Pacific Holdings | 1.19% |
| National HealthCare | 0.96% |
| Eton Pharmaceuticals | 0.95% |
| Matson | 0.89% |
| Teekay Tankers | 0.80% |
Upturn AI Summary
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
Note: This website is maintained by Upturn Corporation, which is an investment adviser registered with the U.S. Securities and Exchange Commission. Such registration does not imply a certain level of skill or training. Investing in securities has risks. Past performance is no guarantee of future returns. No assurance is provided as to any particular investment return, and you may lose money using our services. You are strongly advised to consult appropriate counsel before making any investments in companies you learn about through our services. You should obtain appropriate legal, tax, investment, accounting, and other advice that takes into account your investment portfolio and overall financial situation. You are solely responsible for conducting due diligence on a potential investment. We do not affect trades for you. You will select your own broker through which to transact. Investments are not FDIC insured, they are not guaranteed, and they may lose value. Please see the Privacy Policy, Terms of Use, and Disclosure for more information.
All company names, trademarks, logos, and brands are the property of their respective owners and are used for identification and informational purposes only. Use of these names, trademarks, and logos does not imply endorsement by their respective owners.