First Trust Total Risk Alpha

AIRR Etf  USD 82.64  0.58  0.71%   
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First Trust RBA has current Total Risk Alpha of 0.0708. The total risk alpha measures the performance of an asset by comparing its returns with those of a selected benchmark portfolio.

Total Risk Alpha

 = 

RFR + (ER[b] - ER[a])

x

STD[a] / STD[b]

 = 
0.0708
ER[a] = Expected return on investing in First Trust
ER[b] = Expected return on market index or selected benchmark
STD[a] =   Standard Deviation of returns on First Trust
STD[b] = Standard Deviation of selected market or benchmark
RFR = Risk Free Rate of return. Typically T-Bill Rate

First Trust Total Risk Alpha Peers Comparison

First Total Risk Alpha Relative To Other Indicators

First Trust RBA is second largest ETF in total risk alpha as compared to similar ETFs. It is currently under evaluation in maximum drawdown as compared to similar ETFs reporting about  135.11  of Maximum Drawdown per Total Risk Alpha. The ratio of Maximum Drawdown to Total Risk Alpha for First Trust RBA is roughly  135.11 
The benchmark portfolio represents the market risk matched to the total risk of the stock ETF or fund.
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