EBIT vs. FYT

Last updated Jun 25, 2026

EBIT (Harbor AlphaEdge Small Cap Earners ETF) and FYT (First Trust Small Cap Value AlphaDEX Fund) are both Small Cap Value Equities funds - EBIT tracks the Harbor AlphaEdge Small Cap Earners Index while FYT tracks the NASDAQ AlphaDEX Small Cap Value Index. Both are passively managed. Over the past year, EBIT returned 28.99% vs 39.35% for FYT. With a 0.97 correlation, they move nearly in lockstep. EBIT charges 0.29%/yr vs 0.72%/yr for FYT.

Performance

EBIT vs. FYT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Harbor AlphaEdge Small Cap Earners ETF (EBIT) and First Trust Small Cap Value AlphaDEX Fund (FYT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EBIT achieves a 17.82% return, which is significantly lower than FYT's 21.99% return.

EBIT

• 1D: 1.00%
• 1M: 5.60%
• YTD: 17.82%
• 6M: 16.00%
• 1Y: 28.99%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FYT

• 1D: 1.59%
• 1M: 5.25%
• YTD: 21.99%
• 6M: 20.26%
• 1Y: 39.35%
• 3Y*: 17.67%
• 5Y*: 7.44%
• 10Y*: 10.97%

*Multi-year figures are annualized to reflect compound growth (CAGR)

EBIT vs. FYT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EBIT Harbor AlphaEdge Small Cap Earners ETF	17.82%	6.85%	9.01%
FYT First Trust Small Cap Value AlphaDEX Fund	21.99%	4.00%	10.02%

Correlation

The correlation between EBIT and FYT is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jul 10, 2024	0.97

The correlation between EBIT and FYT has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

EBIT vs. FYT - Sectors Allocation Comparison

Sectors	EBIT	FYT
Financial Services	25.8%	25.5%
Consumer Cyclical	14.4%	13.3%
Industrials	14.2%	12.9%
Energy	11.9%	7.2%
Real Estate	7.7%	9.1%
Technology	7.7%	8.4%
Basic Materials	4.4%	4.6%
Healthcare	4.4%	6.1%
Communication Services	3.6%	2.7%
Consumer Defensive	3.1%	7.2%
Utilities	2.9%	2.7%

Return for Risk

EBIT vs. FYT — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EBIT

EBIT Risk / Return Rank: 63
EBIT Sharpe Ratio Rank: 58
EBIT Sortino Ratio Rank: 63
EBIT Omega Ratio Rank: 55
EBIT Calmar Ratio Rank: 78
EBIT Martin Ratio Rank: 64

FYT

FYT Risk / Return Rank: 79
FYT Sharpe Ratio Rank: 75
FYT Sortino Ratio Rank: 79
FYT Omega Ratio Rank: 71
FYT Calmar Ratio Rank: 89
FYT Martin Ratio Rank: 79

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EBIT vs. FYT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor AlphaEdge Small Cap Earners ETF (EBIT) and First Trust Small Cap Value AlphaDEX Fund (FYT). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	EBIT	FYT	Difference
Sharpe ratio: Return per unit of total volatility	1.69	2.10	-0.41
Sortino ratio: Return per unit of downside risk	2.54	3.09	-0.56
Omega ratio: Gain probability vs. loss probability	1.30	1.37	-0.07
Calmar ratio: Return relative to maximum drawdown	3.49	4.74	-1.25
Martin ratio: Return relative to average drawdown	10.02	13.48	-3.47

EBIT vs. FYT - Sharpe Ratio Comparison

The current EBIT Sharpe Ratio is 1.69, which is comparable to the FYT Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of EBIT and FYT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EBIT vs. FYT - Drawdown Comparison

The maximum EBIT drawdown since its inception was -26.64%, smaller than the maximum FYT drawdown of -50.48%. Use the drawdown chart below to compare losses from any high point for EBIT and FYT.

Drawdown Indicators

	EBIT	FYT	Difference
Max Drawdown Largest peak-to-trough decline	-26.64%	-50.48%	+23.84%
Max Drawdown (1Y) Largest decline over 1 year	-8.34%	-8.34%	0.00%
Max Drawdown (3Y) Largest decline over 3 years	—	-28.90%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-28.90%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-50.48%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-6.37%	-8.51%	+2.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.90%	2.93%	-0.03%

Volatility

EBIT vs. FYT - Volatility Comparison

The current volatility for Harbor AlphaEdge Small Cap Earners ETF (EBIT) is 4.19%, while First Trust Small Cap Value AlphaDEX Fund (FYT) has a volatility of 4.51%. This indicates that EBIT experiences smaller price fluctuations and is considered to be less risky than FYT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EBIT	FYT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.19%	4.51%	-0.32%
Volatility (6M) Calculated over the trailing 6-month period	10.84%	11.69%	-0.85%
Volatility (1Y) Calculated over the trailing 1-year period	17.21%	18.81%	-1.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.09%	22.53%	-1.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.09%	25.94%	-4.85%

EBIT vs. FYT - Expense Ratio Comparison

EBIT has a 0.29% expense ratio, which is lower than FYT's 0.72% expense ratio.

Dividends

EBIT vs. FYT - Dividend Comparison

EBIT's dividend yield for the trailing twelve months is around 1.69%, more than FYT's 1.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EBIT Harbor AlphaEdge Small Cap Earners ETF	1.69%	2.00%	2.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FYT First Trust Small Cap Value AlphaDEX Fund	1.06%	0.94%	2.07%	1.50%	1.36%	1.19%	0.96%	1.44%	1.78%	1.16%	1.16%	0.96%

Frequently Asked Questions

Can I hold both EBIT and FYT in my portfolio?

With a correlation of 0.96, EBIT and FYT move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, EBIT or FYT?

FYT has higher volatility (4.51%) compared to EBIT (4.19%). In terms of maximum drawdown, EBIT dropped -26.64% vs FYT's -50.48%.

Which ETF is better, EBIT or FYT?

On 1-year performance, FYT leads with 39.35% vs 28.99% for EBIT. On fees, EBIT is cheaper at 0.29% per year. On volatility, EBIT has been the lower-risk option at 4.19%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EBIT or FYT?

Over the 1-year period, FYT has performed better with a 39.35% return vs 28.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EBIT or FYT?

EBIT is cheaper with a 0.29% expense ratio, compared with 0.72% for FYT.

Which ETF pays a higher dividend yield, EBIT or FYT?

EBIT has the higher dividend yield at 1.69%, compared with 1.06% for FYT.

What is the main difference between EBIT and FYT?

EBIT tracks Harbor AlphaEdge Small Cap Earners Index, while FYT tracks NASDAQ AlphaDEX Small Cap Value Index. They also come from different issuers: Harbor and First Trust. Their fees differ too: 0.29% for EBIT and 0.72% for FYT.

Which has better risk-adjusted returns?

FYT currently has the higher Sharpe Ratio (2.10 vs 1.69), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.