FDTS vs. VSS

Last updated Apr 1, 2026

Compare and contrast key facts about First Trust Developed Markets ex-US Small Cap AlphaDEX Fund (FDTS) and Vanguard FTSE All-World ex-US Small-Cap ETF (VSS).

FDTS and VSS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FDTS is a passively managed fund by First Trust that tracks the performance of the NASDAQ AlphaDEX DM Ex-US Small Cap Index. It was launched on Feb 15, 2012. VSS is a passively managed fund by Vanguard that tracks the performance of the FTSE Global Small Cap ex US Index. It was launched on Apr 2, 2009. Both FDTS and VSS are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

FDTS vs. VSS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Developed Markets ex-US Small Cap AlphaDEX Fund (FDTS) and Vanguard FTSE All-World ex-US Small-Cap ETF (VSS). The values are adjusted to include any dividend payments, if applicable.

FDTS vs. VSS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund	11.04%	51.17%	2.44%	10.96%	-15.34%	11.79%	12.90%	18.71%	-23.71%	36.01%
VSS Vanguard FTSE All-World ex-US Small-Cap ETF	1.72%	29.61%	2.94%	15.52%	-21.48%	13.05%	11.81%	21.36%	-18.48%	30.61%

Returns By Period

In the year-to-date period, FDTS achieves a 11.04% return, which is significantly higher than VSS's 1.72% return. Over the past 10 years, FDTS has outperformed VSS with an annualized return of 10.43%, while VSS has yielded a comparatively lower 7.63% annualized return.

FDTS

• 1D: 3.04%
• 1M: -9.63%
• YTD: 11.04%
• 6M: 16.94%
• 1Y: 59.05%
• 3Y*: 21.33%
• 5Y*: 10.78%
• 10Y*: 10.43%

VSS

• 1D: 3.06%
• 1M: -8.91%
• YTD: 1.72%
• 6M: 4.71%
• 1Y: 30.55%
• 3Y*: 13.84%
• 5Y*: 5.38%
• 10Y*: 7.63%

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

FDTS vs. VSS - Expense Ratio Comparison

FDTS has a 0.80% expense ratio, which is higher than VSS's 0.07% expense ratio.

FDTS

First Trust Developed Markets ex-US Small Cap AlphaDEX Fund

VSS

Vanguard FTSE All-World ex-US Small-Cap ETF

Return for Risk

FDTS vs. VSS — Risk / Return Rank

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

FDTS

FDTS Risk / Return Rank: 97
FDTS Sharpe Ratio Rank: 98
FDTS Sortino Ratio Rank: 98
FDTS Omega Ratio Rank: 97
FDTS Calmar Ratio Rank: 97
FDTS Martin Ratio Rank: 97

VSS

VSS Risk / Return Rank: 89
VSS Sharpe Ratio Rank: 90
VSS Sortino Ratio Rank: 90
VSS Omega Ratio Rank: 91
VSS Calmar Ratio Rank: 87
VSS Martin Ratio Rank: 88

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.

FDTS vs. VSS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Developed Markets ex-US Small Cap AlphaDEX Fund (FDTS) and Vanguard FTSE All-World ex-US Small-Cap ETF (VSS). 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.

	FDTS	VSS	Difference
Sharpe ratio Return per unit of total volatility	3.16	1.88	+1.28
Sortino ratio Return per unit of downside risk	3.90	2.50	+1.40
Omega ratio Gain probability vs. loss probability	1.60	1.38	+0.22
Calmar ratio Return relative to maximum drawdown	4.68	2.54	+2.14
Martin ratio Return relative to average drawdown	18.83	10.09	+8.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FDTS vs. VSS - Sharpe Ratio Comparison

The current FDTS Sharpe Ratio is 3.16, which is higher than the VSS Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of FDTS and VSS, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FDTS	VSS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.16	1.88	+1.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	0.33	+0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.42	0.45	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.52	-0.16

Correlation

The correlation between FDTS and VSS is 0.57, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

FDTS vs. VSS - Dividend Comparison

FDTS's dividend yield for the trailing twelve months is around 2.71%, less than VSS's 3.33% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund	2.71%	2.94%	3.94%	2.90%	3.71%	3.01%	2.02%	2.30%	1.96%	2.08%	1.78%	1.73%
VSS Vanguard FTSE All-World ex-US Small-Cap ETF	3.33%	3.39%	3.44%	3.14%	2.30%	2.74%	1.90%	3.25%	2.80%	2.83%	2.93%	2.66%

Drawdowns

FDTS vs. VSS - Drawdown Comparison

The maximum FDTS drawdown since its inception was -51.26%, which is greater than VSS's maximum drawdown of -43.51%. Use the drawdown chart below to compare losses from any high point for FDTS and VSS.

Drawdown Indicators

	FDTS	VSS	Difference
Max Drawdown Largest peak-to-trough decline	-51.26%	-43.51%	-7.75%
Max Drawdown (1Y) Largest decline over 1 year	-12.61%	-11.62%	-0.99%
Max Drawdown (5Y) Largest decline over 5 years	-33.11%	-33.93%	+0.82%
Max Drawdown (10Y) Largest decline over 10 years	-51.26%	-43.51%	-7.75%
Current Drawdown Current decline from peak	-9.95%	-8.91%	-1.04%
Average Drawdown Average peak-to-trough decline	-10.74%	-9.72%	-1.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.13%	2.93%	+0.20%

Volatility

FDTS vs. VSS - Volatility Comparison

First Trust Developed Markets ex-US Small Cap AlphaDEX Fund (FDTS) and Vanguard FTSE All-World ex-US Small-Cap ETF (VSS) have volatilities of 7.97% and 7.61%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDTS	VSS	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.97%	7.61%	+0.36%
Volatility (6M) Calculated over the trailing 6-month period	12.60%	11.00%	+1.60%
Volatility (1Y) Calculated over the trailing 1-year period	18.77%	16.37%	+2.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.14%	16.26%	+12.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.75%	17.17%	+7.58%