FEX vs. PSCX

Last updated Jun 24, 2026

FEX (First Trust Large Cap Core AlphaDEX Fund) and PSCX (Pacer Swan SOS Conservative (December) ETF) are both Large Cap Blend Equities funds. FEX is passively managed, while PSCX is actively managed. Over the past 5 years, FEX returned 11.42%/yr vs 8.22%/yr for PSCX. Their correlation of 0.81 suggests significant overlap in exposure. FEX charges 0.57%/yr vs 0.75%/yr for PSCX.

Performance

FEX vs. PSCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Large Cap Core AlphaDEX Fund (FEX) and Pacer Swan SOS Conservative (December) ETF (PSCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FEX achieves a 16.10% return, which is significantly higher than PSCX's 4.46% return.

FEX

• 1D: -1.34%
• 1M: 3.10%
• YTD: 16.10%
• 6M: 14.91%
• 1Y: 28.96%
• 3Y*: 20.58%
• 5Y*: 11.42%
• 10Y*: 13.56%

PSCX

• 1D: -0.49%
• 1M: -0.08%
• YTD: 4.46%
• 6M: 4.60%
• 1Y: 14.18%
• 3Y*: 12.23%
• 5Y*: 8.22%
• 10Y*: —

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

FEX vs. PSCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FEX First Trust Large Cap Core AlphaDEX Fund	16.10%	15.05%	17.07%	14.31%	-11.86%	26.83%	0.20%
PSCX Pacer Swan SOS Conservative (December) ETF	4.46%	12.08%	13.27%	16.57%	-7.35%	9.03%	0.43%

Correlation

The correlation between FEX and PSCX is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (All Time) Calculated using the full available price history since Dec 23, 2020	0.81

The correlation between FEX and PSCX has been stable across timeframes, ranging from 0.74 to 0.81 - a consistent structural relationship.

FEX vs. PSCX - Sectors Allocation Comparison

Sectors	FEX	PSCX
Technology	22.2%	33.2%
Industrials	18.8%	8.4%
Financial Services	13.6%	12.5%
Healthcare	8.8%	9.6%
Consumer Cyclical	8.3%	10.0%
Utilities	7.0%	2.6%
Energy	5.6%	4.2%
Real Estate	4.5%	2.0%
Consumer Defensive	4.3%	5.4%
Basic Materials	3.5%	1.9%
Communication Services	3.4%	10.3%

Return for Risk

FEX vs. PSCX — Risk / Return Rank

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

FEX

FEX Risk / Return Rank: 78
FEX Sharpe Ratio Rank: 74
FEX Sortino Ratio Rank: 74
FEX Omega Ratio Rank: 70
FEX Calmar Ratio Rank: 87
FEX Martin Ratio Rank: 85

PSCX

PSCX Risk / Return Rank: 84
PSCX Sharpe Ratio Rank: 85
PSCX Sortino Ratio Rank: 89
PSCX Omega Ratio Rank: 88
PSCX Calmar Ratio Rank: 72
PSCX Martin Ratio Rank: 86

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.

FEX vs. PSCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Large Cap Core AlphaDEX Fund (FEX) and Pacer Swan SOS Conservative (December) ETF (PSCX). 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	PSCX	Difference
Sharpe ratio: Return per unit of total volatility	2.21	2.53	-0.32
Sortino ratio: Return per unit of downside risk	3.05	3.75	-0.70
Omega ratio: Gain probability vs. loss probability	1.39	1.51	-0.13
Calmar ratio: Return relative to maximum drawdown	4.67	3.39	+1.28
Martin ratio: Return relative to average drawdown	16.75	17.03	-0.28

FEX vs. PSCX - Sharpe Ratio Comparison

The current FEX Sharpe Ratio is 2.21, which is comparable to the PSCX Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of FEX and PSCX, 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

FEX vs. PSCX - Drawdown Comparison

The maximum FEX drawdown since its inception was -58.81%, which is greater than PSCX's maximum drawdown of -10.20%. Use the drawdown chart below to compare losses from any high point for FEX and PSCX.

Drawdown Indicators

	FEX	PSCX	Difference
Max Drawdown Largest peak-to-trough decline	-58.81%	-10.20%	-48.61%
Max Drawdown (1Y) Largest decline over 1 year	-6.23%	-4.20%	-2.03%
Max Drawdown (3Y) Largest decline over 3 years	-19.58%	-9.61%	-9.97%
Max Drawdown (5Y) Largest decline over 5 years	-21.27%	-10.20%	-11.07%
Max Drawdown (10Y) Largest decline over 10 years	-39.51%	—	—
Current Drawdown Current decline from peak	-1.34%	-0.75%	-0.59%
Average Drawdown Average peak-to-trough decline	-7.87%	-1.85%	-6.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.73%	0.83%	+0.90%

Volatility

FEX vs. PSCX - Volatility Comparison

First Trust Large Cap Core AlphaDEX Fund (FEX) has a higher volatility of 5.09% compared to Pacer Swan SOS Conservative (December) ETF (PSCX) at 1.79%. This indicates that FEX's price experiences larger fluctuations and is considered to be riskier than PSCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEX	PSCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.09%	1.79%	+3.30%
Volatility (6M) Calculated over the trailing 6-month period	9.99%	4.52%	+5.47%
Volatility (1Y) Calculated over the trailing 1-year period	13.19%	5.65%	+7.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.57%	7.11%	+9.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.60%	6.97%	+11.63%

FEX vs. PSCX - Expense Ratio Comparison

FEX has a 0.57% expense ratio, which is lower than PSCX's 0.75% expense ratio.

Dividends

FEX vs. PSCX - Dividend Comparison

FEX's dividend yield for the trailing twelve months is around 0.94%, while PSCX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FEX First Trust Large Cap Core AlphaDEX Fund	0.94%	1.10%	1.18%	1.38%	1.61%	0.80%	1.21%	1.32%	1.34%	1.07%	1.29%	1.33%
PSCX Pacer Swan SOS Conservative (December) ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FEX and PSCX in my portfolio?

FEX and PSCX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FEX or PSCX?

FEX has higher volatility (5.09%) compared to PSCX (1.79%). In terms of maximum drawdown, FEX dropped -58.81% vs PSCX's -10.20%.

Which ETF is better, FEX or PSCX?

On 5-year performance, FEX leads with 11.42% vs 8.22% for PSCX. On fees, FEX is cheaper at 0.57% per year. On volatility, PSCX has been the lower-risk option at 1.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FEX or PSCX?

Over the 5-year period, FEX has performed better with a 11.42% return vs 8.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FEX or PSCX?

FEX is cheaper with a 0.57% expense ratio, compared with 0.75% for PSCX.

Which ETF pays a higher dividend yield, FEX or PSCX?

FEX has the higher dividend yield at 0.94%, compared with 0.00% for PSCX.

What is the main difference between FEX and PSCX?

They also come from different issuers: First Trust and Pacer. Their fees differ too: 0.57% for FEX and 0.75% for PSCX.

Which has better risk-adjusted returns?

PSCX currently has the higher Sharpe Ratio (2.53 vs 2.21), 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.