PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
FNK vs. VTWV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FNK vs. VTWV

Last updated Jul 14, 2026
Documentation

FNK (First Trust Mid Cap Value AlphaDEX Fund) and VTWV (Vanguard Russell 2000 Value ETF) are both Small Cap Value Equities funds - FNK tracks the NASDAQ AlphaDEX Mid Cap Value Index while VTWV tracks the Russell 2000 Value Index. Both are passively managed. Over the past 10 years, FNK returned 9.55%/yr vs 10.27%/yr for VTWV. Their correlation of 0.87 suggests significant overlap in exposure. FNK charges 0.70%/yr vs 0.06%/yr for VTWV.

Performance

FNK vs. VTWV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Mid Cap Value AlphaDEX Fund (FNK) and Vanguard Russell 2000 Value ETF (VTWV). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, FNK achieves a 11.60% return, which is significantly lower than VTWV's 22.09% return. Over the past 10 years, FNK has underperformed VTWV with an annualized return of 9.55%, while VTWV has yielded a comparatively higher 10.27% annualized return.

FNK

1D
0.74%
1M
0.65%
6M
6.93%
YTD
11.60%
1Y
16.28%
3Y*
11.51%
5Y*
8.79%
10Y*
9.55%

VTWV

1D
-0.18%
1M
1.10%
6M
15.53%
YTD
22.09%
1Y
35.81%
3Y*
17.47%
5Y*
9.01%
10Y*
10.27%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FNK vs. VTWV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FNK
First Trust Mid Cap Value AlphaDEX Fund		11.60%5.65%6.65%21.03%-7.24%33.60%1.23%20.56%-14.72%11.81%
VTWV
Vanguard Russell 2000 Value ETF		22.09%12.72%7.83%14.67%-14.46%27.90%4.88%22.44%-13.34%8.06%

Correlation

The correlation between FNK and VTWV is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.85

Correlation (3Y)
Calculated over the trailing 3-year period

0.92

Correlation (5Y)
Calculated over the trailing 5-year period

0.93

Correlation (10Y)
Calculated over the trailing 10-year period

0.92

Correlation (All Time)
Calculated using the full available price history since Apr 20, 2011

0.87

The correlation between FNK and VTWV has been stable across timeframes, ranging from 0.85 to 0.93 - a consistent structural relationship.

FNK vs. VTWV - Sectors Allocation Comparison

Sectors
FNK
VTWV

Financial Services

25.8%
24.0%

Consumer Cyclical

20.3%
8.9%

Industrials

10.7%
12.2%

Energy

9.3%
7.8%

Real Estate

9.0%
10.2%

Technology

7.7%
11.6%

Utilities

4.3%
5.0%

Healthcare

3.9%
10.1%

Basic Materials

3.8%
5.4%

Consumer Defensive

3.7%
2.1%

Communication Services

1.4%
2.7%

Financial Services

FNK
25.8%
VTWV
24.0%

Consumer Cyclical

FNK
20.3%
VTWV
8.9%

Industrials

FNK
10.7%
VTWV
12.2%

Energy

FNK
9.3%
VTWV
7.8%

Real Estate

FNK
9.0%
VTWV
10.2%

Technology

FNK
7.7%
VTWV
11.6%

Utilities

FNK
4.3%
VTWV
5.0%

Healthcare

FNK
3.9%
VTWV
10.1%

Basic Materials

FNK
3.8%
VTWV
5.4%

Consumer Defensive

FNK
3.7%
VTWV
2.1%

Communication Services

FNK
1.4%
VTWV
2.7%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

First Trust Mid Cap Value AlphaDEX Fund

Vanguard Russell 2000 Value ETF

Often compared with FNK:
FNK vs. MDYVFNK vs. FNCMXFNK vs. GETGXFNK vs. FLQMFNK vs. VOEFNK vs. DISVXFNK vs. DISV
Often compared with VTWV:
VTWV vs. VTWOVTWV vs. VBRVTWV vs. VTWGVTWV vs. VIOVVTWV vs. VONGVTWV vs. VTCVTWV vs. VB

Return for Risk

FNK vs. VTWV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FNK
FNK Risk / Return Rank: 4040
Overall Rank
FNK Sharpe Ratio Rank: 3838
Sharpe Ratio Rank
FNK Sortino Ratio Rank: 4141
Sortino Ratio Rank
FNK Omega Ratio Rank: 3737
Omega Ratio Rank
FNK Calmar Ratio Rank: 4444
Calmar Ratio Rank
FNK Martin Ratio Rank: 4141
Martin Ratio Rank
VTWV
VTWV Risk / Return Rank: 8282
Overall Rank
VTWV Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
VTWV Sortino Ratio Rank: 8181
Sortino Ratio Rank
VTWV Omega Ratio Rank: 7474
Omega Ratio Rank
VTWV Calmar Ratio Rank: 8989
Calmar Ratio Rank
VTWV Martin Ratio Rank: 8787
Martin Ratio Rank
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.

FNK vs. VTWV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Mid Cap Value AlphaDEX Fund (FNK) and Vanguard Russell 2000 Value ETF (VTWV). 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.

FNKVTWVDifference
Sharpe ratioReturn per unit of total volatility
1.10
2.00

-0.90

Sortino ratioReturn per unit of downside risk
1.72
2.86

-1.14

Omega ratioGain probability vs. loss probability

1.20

1.34

-0.15

Calmar ratioReturn relative to maximum drawdown

1.79

4.16

-2.37

Martin ratioReturn relative to average drawdown

5.19

14.29

-9.10

FNK vs. VTWV - Sharpe Ratio Comparison

The current FNK Sharpe Ratio is 1.10, which is lower than the VTWV Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of FNK and VTWV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

FNK vs. VTWV - Drawdown Comparison

The maximum FNK drawdown since its inception was -50.70%, which is greater than VTWV's maximum drawdown of -45.73%. Use the drawdown chart below to compare losses from any high point for FNK and VTWV.

Loading charts...

Drawdown Indicators

FNKVTWVDifference

Max Drawdown

Largest peak-to-trough decline

-50.70%

-45.73%

-4.97%

Max Drawdown (1Y)

Largest decline over 1 year

-9.13%

-8.64%

-0.49%

Max Drawdown (3Y)

Largest decline over 3 years

-25.16%

-26.72%

+1.56%

Max Drawdown (5Y)

Largest decline over 5 years

-25.16%

-26.72%

+1.56%

Max Drawdown (10Y)

Largest decline over 10 years

-50.70%

-45.73%

-4.97%

Current Drawdown

Current decline from peak

-0.19%

-0.96%

+0.77%

Average Drawdown

Average peak-to-trough decline

-6.80%

-7.77%

+0.97%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.15%

2.51%

+0.64%

Volatility

FNK vs. VTWV - Volatility Comparison

The current volatility for First Trust Mid Cap Value AlphaDEX Fund (FNK) is 3.62%, while Vanguard Russell 2000 Value ETF (VTWV) has a volatility of 3.91%. This indicates that FNK experiences smaller price fluctuations and is considered to be less risky than VTWV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

FNKVTWVDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.62%

3.91%

-0.29%

Volatility (6M)

Calculated over the trailing 6-month period

9.47%

12.45%

-2.98%

Volatility (1Y)

Calculated over the trailing 1-year period

14.96%

18.05%

-3.09%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.93%

21.63%

-0.70%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.75%

23.48%

+0.27%

FNK vs. VTWV - Expense Ratio Comparison

FNK has a 0.70% expense ratio, which is higher than VTWV's 0.06% expense ratio.

Dividends

FNK vs. VTWV - Dividend Comparison

FNK's dividend yield for the trailing twelve months is around 1.47%, less than VTWV's 1.62% yield.

PositionTTM20252024202320222021202020192018201720162015
FNK
First Trust Mid Cap Value AlphaDEX Fund		1.47%1.53%1.63%1.76%1.66%1.27%1.61%1.82%1.76%1.40%1.38%1.45%
VTWV
Vanguard Russell 2000 Value ETF		1.62%1.79%1.78%2.02%2.07%1.60%1.49%1.82%2.04%1.63%1.57%2.03%

Frequently Asked Questions

FNK and VTWV have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VTWV has higher volatility (3.91%) compared to FNK (3.62%). In terms of maximum drawdown, FNK dropped -50.70% vs VTWV's -45.73%.

On 10-year performance, VTWV leads with 10.27% vs 9.55% for FNK. On fees, VTWV is cheaper at 0.06% per year. On volatility, FNK has been the lower-risk option at 3.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, VTWV has performed better with a 10.27% return vs 9.55%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VTWV is cheaper with a 0.06% expense ratio, compared with 0.70% for FNK.

VTWV has the higher dividend yield at 1.62%, compared with 1.47% for FNK.

FNK tracks NASDAQ AlphaDEX Mid Cap Value Index, while VTWV tracks Russell 2000 Value Index. They also come from different issuers: First Trust and Vanguard. Their fees differ too: 0.70% for FNK and 0.06% for VTWV.

VTWV currently has the higher Sharpe Ratio (2.00 vs 1.09), 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.

Portfolio Optimizer

Find the right allocation for FNK and VTWV

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer