FCFY vs. VOO

Last updated Aug 2, 2026

FCFY (First Trust S&P 500 Diversified Free Cash Flow ETF) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - FCFY is a Large Cap Value Equities fund tracking the S&P 500 Sector-Neutral FCF Index - Benchmark TR Gross, while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past year, FCFY returned 16.48% vs 21.58% for VOO. Their 0.69 correlation means they have sometimes moved together and sometimes differently. FCFY charges 0.60%/yr vs 0.03%/yr for VOO.

Performance

FCFY vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust S&P 500 Diversified Free Cash Flow ETF (FCFY) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCFY achieves a 4.23% return, which is significantly lower than VOO's 10.16% return.

FCFY

• 1D: -0.40%
• 1M: 3.79%
• 6M: 6.14%
• YTD: 4.23%
• 1Y: 16.48%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.92%

VOO

• 1D: 0.71%
• 1M: 0.26%
• 6M: 8.58%
• YTD: 10.16%
• 1Y: 21.58%
• 3Y*: 19.42%
• 5Y*: 12.83%
• 10Y*: 15.14%
• ALL TIME*: 14.78%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FCFY First Trust S&P 500 Diversified Free Cash Flow ETF	$12.76K	$10.28K	$5.35K
VOO Vanguard S&P 500 ETF	$3.82B	$3.78B	$5.44B

FCFY vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FCFY First Trust S&P 500 Diversified Free Cash Flow ETF	4.23%	16.76%	11.28%	11.06%
VOO Vanguard S&P 500 ETF	10.16%	17.82%	24.98%	8.19%

Correlation

The correlation between FCFY and VOO is 0.53, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.53
Correlation (All Time) Calculated using the full available price history since Aug 24, 2023	0.69

The correlation between FCFY and VOO shifts across timeframes, from 0.53 (1 year) to 0.69 (all time), reflecting how their relationship changes across market environments.

FCFY vs. VOO - Sectors Allocation Comparison

Sectors	FCFY	VOO
Technology	35.8%	38.6%
Financial Services	12.2%	11.4%
Healthcare	11.4%	8.9%
Consumer Cyclical	10.7%	9.5%
Communication Services	9.1%	9.9%
Industrials	6.5%	8.5%
Consumer Defensive	4.7%	4.5%
Energy	3.6%	3.0%
Utilities	2.3%	2.2%
Real Estate	2.2%	1.8%
Basic Materials	1.6%	1.7%

Return for Risk

FCFY vs. VOO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FCFY

FCFY Risk / Return Rank: 35
FCFY Sharpe Ratio Rank: 36
FCFY Sortino Ratio Rank: 37
FCFY Omega Ratio Rank: 35
FCFY Calmar Ratio Rank: 36
FCFY Martin Ratio Rank: 33

VOO

VOO Risk / Return Rank: 68
VOO Sharpe Ratio Rank: 68
VOO Sortino Ratio Rank: 65
VOO Omega Ratio Rank: 66
VOO Calmar Ratio Rank: 64
VOO Martin Ratio Rank: 76

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FCFY vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust S&P 500 Diversified Free Cash Flow ETF (FCFY) and Vanguard S&P 500 ETF (VOO). 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.

	FCFY	VOO	Difference
Sharpe ratio: Return per unit of total volatility	0.90	1.53	-0.64
Sortino ratio: Return per unit of downside risk	1.38	2.13	-0.75
Omega ratio: Gain probability vs. loss probability	1.17	1.28	-0.11
Calmar ratio: Return relative to maximum drawdown	1.24	2.21	-0.97
Martin ratio: Return relative to average drawdown	3.10	9.44	-6.34

FCFY vs. VOO - Sharpe Ratio Comparison

The current FCFY Sharpe Ratio is 0.90, which is lower than the VOO Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of FCFY and VOO, 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

FCFY vs. VOO - Drawdown Comparison

The maximum FCFY drawdown since its inception was -21.36%, smaller than the maximum VOO drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for FCFY and VOO.

Drawdown Indicators

	FCFY	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-21.36%	-33.99%	+12.63%
Max Drawdown (1Y) Largest decline over 1 year	-11.94%	-8.90%	-3.04%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.69%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.52%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.99%	—
Current Drawdown Current decline from peak	-2.28%	-1.38%	-0.90%
Average Drawdown Average peak-to-trough decline	-3.54%	-3.67%	+0.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.77%	2.08%	+2.69%

Volatility

FCFY vs. VOO - Volatility Comparison

First Trust S&P 500 Diversified Free Cash Flow ETF (FCFY) has a higher volatility of 5.47% compared to Vanguard S&P 500 ETF (VOO) at 3.54%. This indicates that FCFY's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCFY	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.47%	3.54%	+1.93%
Volatility (6M) Calculated over the trailing 6-month period	12.07%	10.10%	+1.97%
Volatility (1Y) Calculated over the trailing 1-year period	16.60%	12.82%	+3.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.52%	16.93%	+0.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.52%	18.01%	-0.49%

FCFY vs. VOO - Expense Ratio Comparison

FCFY has a 0.60% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

FCFY vs. VOO - Dividend Comparison

FCFY's dividend yield for the trailing twelve months is around 1.41%, more than VOO's 1.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCFY First Trust S&P 500 Diversified Free Cash Flow ETF	1.41%	1.48%	1.76%	0.73%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VOO Vanguard S&P 500 ETF	1.07%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both FCFY and VOO in my portfolio?

FCFY and VOO have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FCFY or VOO?

FCFY has higher volatility (5.47%) compared to VOO (3.54%). In terms of maximum drawdown, FCFY dropped -21.36% vs VOO's -33.99%.

Which ETF is better, FCFY or VOO?

On 1-year performance, VOO leads with 21.58% vs 16.48% for FCFY. On fees, VOO is cheaper at 0.03% per year. On volatility, VOO has been the lower-risk option at 3.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FCFY or VOO?

Over the 1-year period, VOO has performed better with a 21.58% return vs 16.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FCFY or VOO?

VOO is cheaper with a 0.03% expense ratio, compared with 0.60% for FCFY.

Which ETF pays a higher dividend yield, FCFY or VOO?

FCFY has the higher dividend yield at 1.41%, compared with 1.07% for VOO.

What is the main difference between FCFY and VOO?

FCFY is categorized as Large Cap Value Equities, while VOO is S&P 500. FCFY tracks S&P 500 Sector-Neutral FCF Index - Benchmark TR Gross, while VOO tracks S&P 500 Index. They also come from different issuers: First Trust and Vanguard. Their fees differ too: 0.60% for FCFY and 0.03% for VOO.

Which has better risk-adjusted returns?

VOO currently has the higher Sharpe Ratio (1.53 vs 0.90), 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.