EMTY vs. FYT
EMTY (ProShares Decline of the Retail Store ETF) and FYT (First Trust Small Cap Value AlphaDEX Fund) are both exchange-traded funds - EMTY is a Inverse Equities fund tracking the Solactive-ProShares Bricks and Mortar Retail Store Index (-100%), while FYT is a Small Cap Value Equities fund tracking the NASDAQ AlphaDEX Small Cap Value Index. Both are passively managed. Over the past 5 years, EMTY returned -3.47%/yr vs 9.25%/yr for FYT. Their -0.77 correlation means they have often moved in opposite directions in the past. EMTY charges 0.66%/yr vs 0.72%/yr for FYT.
Performance
EMTY vs. FYT - Performance Comparison
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Returns By Period
In the year-to-date period, EMTY achieves a -4.88% return, which is significantly lower than FYT's 29.62% return.
EMTY
- 1D
- 0.18%
- 1M
- -5.42%
- 6M
- 4.00%
- YTD
- -4.88%
- 1Y
- -1.14%
- 3Y*
- -4.45%
- 5Y*
- -3.47%
- 10Y*
- —
- ALL TIME*
- -11.61%
FYT
- 1D
- -1.00%
- 1M
- 4.07%
- 6M
- 16.32%
- YTD
- 29.62%
- 1Y
- 42.59%
- 3Y*
- 14.78%
- 5Y*
- 9.25%
- 10Y*
- 10.75%
- ALL TIME*
- 10.10%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $42.12K | $40.50K | $50.28K | |
| $1.60M | $941.08K | $848.47K |
EMTY vs. FYT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EMTY ProShares Decline of the Retail Store ETF | -4.88% | -1.76% | -4.13% | 0.27% | 4.32% | -37.39% | -31.92% | -8.65% | 11.16% | -15.97% |
FYT First Trust Small Cap Value AlphaDEX Fund | 29.62% | 4.00% | 3.24% | 22.90% | -14.05% | 29.33% | 9.82% | 25.80% | -14.73% | 7.18% |
Correlation
The correlation between EMTY and FYT is -0.71, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.71 |
Correlation (3Y) Balances recent behavior with more history. | -0.73 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.77 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2017 | -0.77 |
The correlation between EMTY and FYT has been stable across timeframes, ranging from -0.77 to -0.71 - a consistent structural relationship.
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Return for Risk
EMTY vs. FYT — Risk / Return Rank
EMTY
FYT
EMTY vs. FYT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Decline of the Retail Store ETF (EMTY) 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.
| EMTY | FYT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.47 | ||
| Sortino ratioReturn per unit of downside risk | -3.49 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.42 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | -0.08 | 5.13 | -5.22 |
| Martin ratioReturn relative to average drawdown | -0.18 | 15.48 | -15.67 |
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Drawdowns
EMTY vs. FYT - Drawdown Comparison
The maximum EMTY drawdown since its inception was -77.62%, which is greater than FYT's maximum drawdown of -50.48%. Use the drawdown chart below to compare losses from any high point for EMTY and FYT.
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Drawdown Indicators
| EMTY | FYT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.62% | -50.48% | -27.14% |
Max Drawdown (1Y)Largest decline over 1 year | -13.91% | -8.34% | -5.57% |
Max Drawdown (3Y)Largest decline over 3 years | -30.83% | -28.90% | -1.93% |
Max Drawdown (5Y)Largest decline over 5 years | -30.83% | -28.90% | -1.93% |
Max Drawdown (10Y)Largest decline over 10 years | — | -50.48% | — |
Current DrawdownCurrent decline from peak | -76.26% | -1.00% | -75.26% |
Average DrawdownAverage peak-to-trough decline | -54.68% | -8.45% | -46.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.37% | 2.76% | +3.61% |
Volatility
EMTY vs. FYT - Volatility Comparison
ProShares Decline of the Retail Store ETF (EMTY) has a higher volatility of 6.47% compared to First Trust Small Cap Value AlphaDEX Fund (FYT) at 4.61%. This indicates that EMTY's price experiences larger fluctuations and is considered to be riskier than FYT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMTY | FYT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.47% | 4.61% | +1.86% |
Volatility (6M)Calculated over the trailing 6-month period | 13.86% | 11.29% | +2.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.44% | 17.77% | +0.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.45% | 22.40% | +0.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.59% | 25.89% | -0.30% |
EMTY vs. FYT - Expense Ratio Comparison
EMTY has a 0.66% expense ratio, which is lower than FYT's 0.72% expense ratio.
Dividends
EMTY vs. FYT - Dividend Comparison
EMTY's dividend yield for the trailing twelve months is around 3.42%, more than FYT's 1.41% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMTY ProShares Decline of the Retail Store ETF | 3.42% | 3.83% | 6.00% | 4.41% | 0.65% | 0.00% | 0.07% | 0.82% | 0.62% | 0.03% | 0.00% | 0.00% |
FYT First Trust Small Cap Value AlphaDEX Fund | 1.41% | 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
EMTY and FYT have a correlation of -0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMTY has higher volatility (6.47%) compared to FYT (4.61%). In terms of maximum drawdown, EMTY dropped -77.62% vs FYT's -50.48%.
On 5-year performance, FYT leads with 9.25% vs -3.47% for EMTY. On fees, EMTY is cheaper at 0.66% per year. On volatility, FYT has been the lower-risk option at 4.61%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FYT has performed better with a 9.25% return vs -3.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EMTY is cheaper with a 0.66% expense ratio, compared with 0.72% for FYT.
EMTY has the higher dividend yield at 3.42%, compared with 1.41% for FYT.
EMTY is categorized as Inverse Equities, while FYT is Small Cap Value Equities. EMTY tracks Solactive-ProShares Bricks and Mortar Retail Store Index (-100%), while FYT tracks NASDAQ AlphaDEX Small Cap Value Index. They also come from different issuers: ProShares and First Trust. Their fees differ too: 0.66% for EMTY and 0.72% for FYT.
FYT currently has the higher Sharpe Ratio (2.41 vs -0.06), 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.
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