FNX vs. VO
Compare and contrast key facts about First Trust Mid Cap Core AlphaDEX Fund (FNX) and Vanguard Mid-Cap ETF (VO).
FNX and VO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FNX is a passively managed fund by First Trust that tracks the performance of the NASDAQ AlphaDEX Mid Cap Core Index. It was launched on May 8, 2007. VO is a passively managed fund by Vanguard that tracks the performance of the CRSP US Mid Cap Index. It was launched on Jan 26, 2004. Both FNX and VO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
FNX vs. VO - Performance Comparison
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FNX vs. VO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FNX First Trust Mid Cap Core AlphaDEX Fund | 2.05% | 9.87% | 12.21% | 20.39% | -13.57% | 25.05% | 16.04% | 26.97% | -11.23% | 17.66% |
VO Vanguard Mid-Cap ETF | -0.68% | 11.62% | 15.31% | 16.03% | -18.73% | 24.70% | 18.10% | 30.98% | -9.24% | 19.28% |
Returns By Period
In the year-to-date period, FNX achieves a 2.05% return, which is significantly higher than VO's -0.68% return. Both investments have delivered pretty close results over the past 10 years, with FNX having a 11.15% annualized return and VO not far behind at 10.67%.
FNX
- 1D
- 2.75%
- 1M
- -5.37%
- YTD
- 2.05%
- 6M
- 2.82%
- 1Y
- 18.78%
- 3Y*
- 13.81%
- 5Y*
- 7.40%
- 10Y*
- 11.15%
VO
- 1D
- 2.22%
- 1M
- -5.86%
- YTD
- -0.68%
- 6M
- -1.48%
- 1Y
- 12.73%
- 3Y*
- 12.61%
- 5Y*
- 6.66%
- 10Y*
- 10.67%
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FNX vs. VO - Expense Ratio Comparison
FNX has a 0.60% expense ratio, which is higher than VO's 0.04% expense ratio.
Return for Risk
FNX vs. VO — Risk / Return Rank
FNX
VO
FNX vs. VO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Mid Cap Core AlphaDEX Fund (FNX) and Vanguard Mid-Cap ETF (VO). 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.
| FNX | VO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.89 | 0.73 | +0.16 |
Sortino ratioReturn per unit of downside risk | 1.36 | 1.12 | +0.24 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.16 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | 1.34 | 1.05 | +0.29 |
Martin ratioReturn relative to average drawdown | 5.45 | 4.84 | +0.60 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FNX | VO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.89 | 0.73 | +0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.36 | 0.38 | -0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.51 | 0.57 | -0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.40 | 0.48 | -0.08 |
Correlation
The correlation between FNX and VO is 0.91, 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.
Dividends
FNX vs. VO - Dividend Comparison
FNX's dividend yield for the trailing twelve months is around 0.91%, less than VO's 1.51% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FNX First Trust Mid Cap Core AlphaDEX Fund | 0.91% | 0.88% | 1.26% | 1.11% | 1.19% | 0.94% | 1.04% | 1.21% | 1.01% | 0.90% | 1.07% | 1.07% |
VO Vanguard Mid-Cap ETF | 1.51% | 1.52% | 1.49% | 1.52% | 1.60% | 1.12% | 1.45% | 1.48% | 1.82% | 1.35% | 1.45% | 1.47% |
Drawdowns
FNX vs. VO - Drawdown Comparison
The maximum FNX drawdown since its inception was -57.11%, roughly equal to the maximum VO drawdown of -58.87%. Use the drawdown chart below to compare losses from any high point for FNX and VO.
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Drawdown Indicators
| FNX | VO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.11% | -58.87% | +1.76% |
Max Drawdown (1Y)Largest decline over 1 year | -14.59% | -12.74% | -1.85% |
Max Drawdown (5Y)Largest decline over 5 years | -24.97% | -27.57% | +2.60% |
Max Drawdown (10Y)Largest decline over 10 years | -43.95% | -39.37% | -4.58% |
Current DrawdownCurrent decline from peak | -6.67% | -6.12% | -0.55% |
Average DrawdownAverage peak-to-trough decline | -8.47% | -7.91% | -0.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.60% | 2.76% | +0.84% |
Volatility
FNX vs. VO - Volatility Comparison
First Trust Mid Cap Core AlphaDEX Fund (FNX) has a higher volatility of 6.19% compared to Vanguard Mid-Cap ETF (VO) at 4.89%. This indicates that FNX's price experiences larger fluctuations and is considered to be riskier than VO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FNX | VO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.19% | 4.89% | +1.30% |
Volatility (6M)Calculated over the trailing 6-month period | 12.22% | 9.72% | +2.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.23% | 17.57% | +3.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.52% | 17.62% | +2.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.94% | 18.94% | +3.00% |