FEX vs. SELV

Last updated Jul 15, 2026

FEX (First Trust Large Cap Core AlphaDEX Fund) and SELV (SEI Enhanced Low Volatility US Large Cap ETF) are both Large Cap Blend Equities funds. FEX is passively managed, while SELV is actively managed. Over the past 3 years, FEX returned 18.38%/yr vs 10.83%/yr for SELV. A 0.73 correlation means they provide meaningful diversification when combined. FEX charges 0.57%/yr vs 0.15%/yr for SELV.

Performance

FEX vs. SELV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Large Cap Core AlphaDEX Fund (FEX) and SEI Enhanced Low Volatility US Large Cap ETF (SELV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FEX achieves a 15.66% return, which is significantly higher than SELV's 2.97% return.

FEX

• 1D: 0.14%
• 1M: -0.32%
• 6M: 11.83%
• YTD: 15.66%
• 1Y: 23.92%
• 3Y*: 18.38%
• 5Y*: 11.32%
• 10Y*: 12.82%

SELV

• 1D: -1.61%
• 1M: 0.21%
• 6M: 2.08%
• YTD: 2.97%
• 1Y: 8.49%
• 3Y*: 10.83%
• 5Y*: —
• 10Y*: —

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

FEX vs. SELV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FEX First Trust Large Cap Core AlphaDEX Fund	15.66%	15.05%	17.07%	14.31%	-2.80%
SELV SEI Enhanced Low Volatility US Large Cap ETF	2.97%	12.86%	14.71%	6.58%	-0.61%

Correlation

The correlation between FEX and SELV is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (All Time) Calculated using the full available price history since May 18, 2022	0.73

Over the past year, the correlation between FEX and SELV has dropped to 0.32 - well below their long-term average of 0.73, suggesting their price drivers have been diverging.

FEX vs. SELV - Sectors Allocation Comparison

Sectors	FEX	SELV
Technology	22.2%	21.4%
Industrials	18.8%	7.5%
Financial Services	13.6%	4.8%
Healthcare	8.8%	17.0%
Consumer Cyclical	8.3%	4.9%
Utilities	7.0%	7.6%
Energy	5.6%	4.3%
Real Estate	4.5%	0.1%
Consumer Defensive	4.3%	12.3%
Basic Materials	3.5%	2.8%
Communication Services	3.4%	15.8%

Return for Risk

FEX vs. SELV — Risk / Return Rank

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

FEX

FEX Risk / Return Rank: 75
FEX Sharpe Ratio Rank: 70
FEX Sortino Ratio Rank: 70
FEX Omega Ratio Rank: 65
FEX Calmar Ratio Rank: 86
FEX Martin Ratio Rank: 85

SELV

SELV Risk / Return Rank: 31
SELV Sharpe Ratio Rank: 30
SELV Sortino Ratio Rank: 29
SELV Omega Ratio Rank: 27
SELV Calmar Ratio Rank: 35
SELV Martin Ratio Rank: 32

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. SELV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Large Cap Core AlphaDEX Fund (FEX) and SEI Enhanced Low Volatility US Large Cap ETF (SELV). 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	SELV	Difference
Sharpe ratio: Return per unit of total volatility	1.80	0.91	+0.89
Sortino ratio: Return per unit of downside risk	2.54	1.34	+1.19
Omega ratio: Gain probability vs. loss probability	1.31	1.16	+0.15
Calmar ratio: Return relative to maximum drawdown	3.86	1.44	+2.42
Martin ratio: Return relative to average drawdown	13.49	3.84	+9.65

FEX vs. SELV - Sharpe Ratio Comparison

The current FEX Sharpe Ratio is 1.80, which is higher than the SELV Sharpe Ratio of 0.91. The chart below compares the historical Sharpe Ratios of FEX and SELV, 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. SELV - Drawdown Comparison

The maximum FEX drawdown since its inception was -58.81%, which is greater than SELV's maximum drawdown of -13.73%. Use the drawdown chart below to compare losses from any high point for FEX and SELV.

Drawdown Indicators

	FEX	SELV	Difference
Max Drawdown Largest peak-to-trough decline	-58.81%	-13.73%	-45.08%
Max Drawdown (1Y) Largest decline over 1 year	-6.23%	-5.92%	-0.31%
Max Drawdown (3Y) Largest decline over 3 years	-19.58%	-8.94%	-10.64%
Max Drawdown (5Y) Largest decline over 5 years	-21.27%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-39.51%	—	—
Current Drawdown Current decline from peak	-2.34%	-1.95%	-0.39%
Average Drawdown Average peak-to-trough decline	-7.85%	-2.37%	-5.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.78%	2.22%	-0.44%

Volatility

FEX vs. SELV - Volatility Comparison

The current volatility for First Trust Large Cap Core AlphaDEX Fund (FEX) is 3.92%, while SEI Enhanced Low Volatility US Large Cap ETF (SELV) has a volatility of 4.22%. This indicates that FEX experiences smaller price fluctuations and is considered to be less risky than SELV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEX	SELV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.92%	4.22%	-0.30%
Volatility (6M) Calculated over the trailing 6-month period	10.06%	7.43%	+2.63%
Volatility (1Y) Calculated over the trailing 1-year period	13.34%	9.39%	+3.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.58%	11.92%	+4.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.56%	11.92%	+6.64%

FEX vs. SELV - Expense Ratio Comparison

FEX has a 0.57% expense ratio, which is higher than SELV's 0.15% expense ratio.

Dividends

FEX vs. SELV - Dividend Comparison

FEX's dividend yield for the trailing twelve months is around 0.95%, less than SELV's 1.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FEX First Trust Large Cap Core AlphaDEX Fund	0.95%	1.10%	1.18%	1.38%	1.61%	0.80%	1.21%	1.32%	1.34%	1.07%	1.29%	1.33%
SELV SEI Enhanced Low Volatility US Large Cap ETF	1.74%	1.74%	1.77%	2.06%	1.26%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FEX and SELV in my portfolio?

FEX and SELV have a correlation of 0.32, 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 SELV?

SELV has higher volatility (4.22%) compared to FEX (3.92%). In terms of maximum drawdown, FEX dropped -58.81% vs SELV's -13.73%.

Which ETF is better, FEX or SELV?

On 3-year performance, FEX leads with 18.38% vs 10.83% for SELV. On fees, SELV is cheaper at 0.15% per year. On volatility, FEX has been the lower-risk option at 3.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FEX or SELV?

Over the 3-year period, FEX has performed better with a 18.38% return vs 10.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FEX or SELV?

SELV is cheaper with a 0.15% expense ratio, compared with 0.57% for FEX.

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

SELV has the higher dividend yield at 1.74%, compared with 0.95% for FEX.

What is the main difference between FEX and SELV?

They also come from different issuers: First Trust and SEI. Their fees differ too: 0.57% for FEX and 0.15% for SELV.

Which has better risk-adjusted returns?

FEX currently has the higher Sharpe Ratio (1.80 vs 0.91), 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.