EPSV vs. FNK

Last updated Jun 4, 2026

EPSV (Harbor SMID Cap Value ETF) and FNK (First Trust Mid Cap Value AlphaDEX Fund) are both Small Cap Value Equities funds. EPSV is actively managed, while FNK is passively managed. Over the past year, EPSV returned 46.19% vs 19.55% for FNK. Their correlation of 0.87 suggests significant overlap in exposure. EPSV charges 0.88%/yr vs 0.70%/yr for FNK.

Performance

EPSV vs. FNK - Performance Comparison

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

Returns By Period

In the year-to-date period, EPSV achieves a 26.42% return, which is significantly higher than FNK's 7.22% return.

EPSV

• 1D: -0.04%
• 1M: 7.26%
• YTD: 26.42%
• 6M: 26.98%
• 1Y: 46.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FNK

• 1D: -0.38%
• 1M: 0.68%
• YTD: 7.22%
• 6M: 7.56%
• 1Y: 19.55%
• 3Y*: 13.11%
• 5Y*: 6.97%
• 10Y*: 9.29%

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

EPSV vs. FNK - Yearly Performance Comparison

	2026 (YTD)	2025
EPSV Harbor SMID Cap Value ETF	26.42%	20.91%
FNK First Trust Mid Cap Value AlphaDEX Fund	7.22%	15.93%

Correlation

The correlation between EPSV and FNK is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (All Time) Calculated using the full available price history since May 5, 2025	0.87

The correlation between EPSV and FNK has been stable across timeframes, ranging from 0.85 to 0.87 - a consistent structural relationship.

EPSV vs. FNK - Sectors Allocation Comparison

Sectors	EPSV	FNK
Industrials	24.9%	12.8%
Technology	22.7%	7.1%
Financial Services	19.1%	25.2%
Real Estate	7.5%	7.5%
Energy	6.1%	8.4%
Consumer Cyclical	5.8%	19.0%
Consumer Defensive	5.0%	3.5%
Basic Materials	4.3%	4.0%
Utilities	3.7%	4.4%
Healthcare	0.9%	5.3%
Communication Services	-	1.3%

Return for Risk

EPSV vs. FNK — Risk / Return Rank

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

EPSV

EPSV Risk / Return Rank: 83
EPSV Sharpe Ratio Rank: 81
EPSV Sortino Ratio Rank: 83
EPSV Omega Ratio Rank: 77
EPSV Calmar Ratio Rank: 88
EPSV Martin Ratio Rank: 86

FNK

FNK Risk / Return Rank: 38
FNK Sharpe Ratio Rank: 35
FNK Sortino Ratio Rank: 39
FNK Omega Ratio Rank: 35
FNK Calmar Ratio Rank: 43
FNK Martin Ratio Rank: 39

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.

EPSV vs. FNK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Harbor SMID Cap Value ETF (EPSV) and First Trust Mid Cap Value AlphaDEX Fund (FNK). 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.

	EPSV	FNK	Difference
Sharpe ratio: Return per unit of total volatility	2.62	1.29	+1.34
Sortino ratio: Return per unit of downside risk	3.68	2.02	+1.67
Omega ratio: Gain probability vs. loss probability	1.46	1.23	+0.22
Calmar ratio: Return relative to maximum drawdown	5.19	2.15	+3.04
Martin ratio: Return relative to average drawdown	18.03	6.23	+11.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EPSV vs. FNK - Sharpe Ratio Comparison

The current EPSV Sharpe Ratio is 2.62, which is higher than the FNK Sharpe Ratio of 1.29. The chart below compares the historical Sharpe Ratios of EPSV and FNK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EPSV	FNK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.62	1.29	+1.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.33	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.39	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.66	0.40	+2.26

Drawdowns

EPSV vs. FNK - Drawdown Comparison

The maximum EPSV drawdown since its inception was -8.93%, smaller than the maximum FNK drawdown of -50.70%. Use the drawdown chart below to compare losses from any high point for EPSV and FNK.

Drawdown Indicators

	EPSV	FNK	Difference
Max Drawdown Largest peak-to-trough decline	-8.93%	-50.70%	+41.77%
Max Drawdown (1Y) Largest decline over 1 year	-8.93%	-9.13%	+0.20%
Max Drawdown (3Y) Largest decline over 3 years	—	-25.16%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.16%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-50.70%	—
Current Drawdown Current decline from peak	-0.04%	-2.16%	+2.12%
Average Drawdown Average peak-to-trough decline	-1.67%	-6.84%	+5.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.57%	3.15%	-0.58%

Volatility

EPSV vs. FNK - Volatility Comparison

Harbor SMID Cap Value ETF (EPSV) has a higher volatility of 6.05% compared to First Trust Mid Cap Value AlphaDEX Fund (FNK) at 3.53%. This indicates that EPSV's price experiences larger fluctuations and is considered to be riskier than FNK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EPSV	FNK	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.05%	3.53%	+2.52%
Volatility (6M) Calculated over the trailing 6-month period	12.80%	9.69%	+3.11%
Volatility (1Y) Calculated over the trailing 1-year period	17.75%	15.36%	+2.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.14%	21.04%	-2.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.14%	23.86%	-5.72%

EPSV vs. FNK - Expense Ratio Comparison

EPSV has a 0.88% expense ratio, which is higher than FNK's 0.70% expense ratio.

Dividends

EPSV vs. FNK - Dividend Comparison

EPSV's dividend yield for the trailing twelve months is around 2.28%, more than FNK's 1.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EPSV Harbor SMID Cap Value ETF	2.28%	2.88%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FNK First Trust Mid Cap Value AlphaDEX Fund	1.56%	1.53%	1.63%	1.76%	1.66%	1.27%	1.61%	1.82%	1.76%	1.40%	1.38%	1.45%

Frequently Asked Questions

Can I hold both EPSV and FNK in my portfolio?

EPSV and FNK have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EPSV or FNK?

EPSV has higher volatility (6.05%) compared to FNK (3.53%). In terms of maximum drawdown, EPSV dropped -8.93% vs FNK's -50.70%.

Which ETF is better, EPSV or FNK?

On 1-year performance, EPSV leads with 46.19% vs 19.55% for FNK. On fees, FNK is cheaper at 0.70% per year. On volatility, FNK has been the lower-risk option at 3.53%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EPSV or FNK?

Over the 1-year period, EPSV has performed better with a 46.19% return vs 19.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EPSV or FNK?

FNK is cheaper with a 0.70% expense ratio, compared with 0.88% for EPSV.

Which ETF pays a higher dividend yield, EPSV or FNK?

EPSV has the higher dividend yield at 2.28%, compared with 1.56% for FNK.

What is the main difference between EPSV and FNK?

They also come from different issuers: Harbor and First Trust. Their fees differ too: 0.88% for EPSV and 0.70% for FNK.

Which has better risk-adjusted returns?

EPSV currently has the higher Sharpe Ratio (2.62 vs 1.29), 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.