FNK vs. VOE
Compare and contrast key facts about First Trust Mid Cap Value AlphaDEX Fund (FNK) and Vanguard Mid-Cap Value ETF (VOE).
FNK and VOE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FNK is a passively managed fund by First Trust that tracks the performance of the NASDAQ AlphaDEX Mid Cap Value Index. It was launched on Apr 19, 2011. VOE is a passively managed fund by Vanguard that tracks the performance of the CRSP US Mid Cap Value Index. It was launched on Aug 17, 2006. Both FNK and VOE are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FNK or VOE.
Key characteristics
| FNK | VOE | |
|---|---|---|
| YTD Return | 1.50% | 3.99% |
| 1Y Return | 22.81% | 14.90% |
| 3Y Return (Ann) | 6.35% | 4.54% |
| 5Y Return (Ann) | 9.48% | 8.59% |
| 10Y Return (Ann) | 7.27% | 8.54% |
| Sharpe Ratio | 1.29 | 1.30 |
| Daily Std Dev | 19.52% | 12.95% |
| Max Drawdown | -50.70% | -61.55% |
| Current Drawdown | -4.61% | -3.74% |
Correlation
The correlation between FNK and VOE is 0.88, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
FNK vs. VOE - Performance Comparison
In the year-to-date period, FNK achieves a 1.50% return, which is significantly lower than VOE's 3.99% return. Over the past 10 years, FNK has underperformed VOE with an annualized return of 7.27%, while VOE has yielded a comparatively higher 8.54% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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FNK vs. VOE - Expense Ratio Comparison
FNK has a 0.70% expense ratio, which is higher than VOE's 0.07% expense ratio.
Risk-Adjusted Performance
FNK vs. VOE - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Mid Cap Value AlphaDEX Fund (FNK) and Vanguard Mid-Cap Value ETF (VOE). 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.
Dividends
FNK vs. VOE - Dividend Comparison
FNK's dividend yield for the trailing twelve months is around 1.66%, less than VOE's 2.22% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FNK First Trust Mid Cap Value AlphaDEX Fund | 1.66% | 1.76% | 1.66% | 1.27% | 1.61% | 1.82% | 1.76% | 1.40% | 1.38% | 1.45% | 1.08% | 0.77% |
VOE Vanguard Mid-Cap Value ETF | 2.22% | 2.27% | 2.27% | 1.78% | 2.36% | 2.05% | 2.75% | 1.86% | 1.92% | 2.05% | 1.67% | 1.53% |
Drawdowns
FNK vs. VOE - Drawdown Comparison
The maximum FNK drawdown since its inception was -50.70%, smaller than the maximum VOE drawdown of -61.55%. Use the drawdown chart below to compare losses from any high point for FNK and VOE. For additional features, visit the drawdowns tool.
Volatility
FNK vs. VOE - Volatility Comparison
First Trust Mid Cap Value AlphaDEX Fund (FNK) has a higher volatility of 4.40% compared to Vanguard Mid-Cap Value ETF (VOE) at 3.19%. This indicates that FNK's price experiences larger fluctuations and is considered to be riskier than VOE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.