FEX vs. AFOS
FEX (First Trust Large Cap Core AlphaDEX Fund) and AFOS (ARS Focused Opportunities Strategy ETF) are both Large Cap Blend Equities funds. Over the past year, FEX returned 30.73% vs 83.17% for AFOS. A 0.75 correlation means they provide meaningful diversification when combined. FEX charges 0.57%/yr vs 0.45%/yr for AFOS.
Performance
FEX vs. AFOS - Performance Comparison
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Returns By Period
In the year-to-date period, FEX achieves a 17.97% return, which is significantly lower than AFOS's 33.60% return.
FEX
- 1D
- 1.29%
- 1M
- 3.61%
- YTD
- 17.97%
- 6M
- 16.33%
- 1Y
- 30.73%
- 3Y*
- 20.99%
- 5Y*
- 11.65%
- 10Y*
- 14.01%
AFOS
- 1D
- 2.47%
- 1M
- 3.16%
- YTD
- 33.60%
- 6M
- 31.56%
- 1Y
- 83.17%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FEX vs. AFOS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
FEX First Trust Large Cap Core AlphaDEX Fund | 17.97% | 10.82% |
AFOS ARS Focused Opportunities Strategy ETF | 33.60% | 37.10% |
Correlation
The correlation between FEX and AFOS is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025 | 0.75 |
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Return for Risk
FEX vs. AFOS — Risk / Return Rank
FEX
AFOS
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FEX vs. AFOS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Large Cap Core AlphaDEX Fund (FEX) and ARS Focused Opportunities Strategy ETF (AFOS). 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.
| FEX | AFOS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.41 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 4.95 | — | — |
| Martin ratioReturn relative to average drawdown | 17.77 | — | — |
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Drawdowns
FEX vs. AFOS - Drawdown Comparison
The maximum FEX drawdown since its inception was -58.81%, which is greater than AFOS's maximum drawdown of -11.52%. Use the drawdown chart below to compare losses from any high point for FEX and AFOS.
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Drawdown Indicators
| FEX | AFOS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.81% | -11.52% | -47.29% |
Max Drawdown (1Y)Largest decline over 1 year | -6.23% | -11.52% | +5.29% |
Max Drawdown (3Y)Largest decline over 3 years | -19.58% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -21.27% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -39.51% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -2.33% | +2.33% |
Average DrawdownAverage peak-to-trough decline | -7.86% | -1.43% | -6.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.73% | — | — |
Volatility
FEX vs. AFOS - Volatility Comparison
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Volatility by Period
| FEX | AFOS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.07% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 10.00% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 13.20% | 21.58% | -8.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.57% | 21.58% | -5.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.59% | 21.58% | -2.99% |
FEX vs. AFOS - Expense Ratio Comparison
FEX has a 0.57% expense ratio, which is higher than AFOS's 0.45% expense ratio.
Dividends
FEX vs. AFOS - Dividend Comparison
FEX's dividend yield for the trailing twelve months is around 1.12%, more than AFOS's 0.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AFOS ARS Focused Opportunities Strategy ETF | 0.22% | 0.30% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FEX First Trust Large Cap Core AlphaDEX Fund | 1.12% | 1.10% | 1.18% | 1.38% | 1.61% | 0.80% | 1.21% | 1.32% | 1.34% | 1.07% | 1.29% | 1.33% |
Frequently Asked Questions
FEX and AFOS have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On 1-year performance, AFOS leads with 83.17% vs 30.73% for FEX. On fees, AFOS is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, AFOS has performed better with a 83.17% return vs 30.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
AFOS is cheaper with a 0.45% expense ratio, compared with 0.57% for FEX.
FEX has the higher dividend yield at 1.12%, compared with 0.22% for AFOS.
They also come from different issuers: First Trust and ARS Investment Partners. Their fees differ too: 0.57% for FEX and 0.45% for AFOS.
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