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FTA vs. IWX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FTA vs. IWX

Last updated Aug 2, 2026
Documentation

FTA (First Trust Large Cap Value AlphaDEX Fund) and IWX (iShares Russell Top 200 Value ETF) are both Large Cap Value Equities funds - FTA tracks the NASDAQ AlphaDEX Large Cap Value Index while IWX tracks the Russell Top 200 Value Index. Both are passively managed. Over the past 10 years, FTA returned 11.60%/yr vs 12.13%/yr for IWX. Their correlation of 0.89 means they have usually moved in the same direction. FTA charges 0.60%/yr vs 0.20%/yr for IWX.

Performance

FTA vs. IWX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Large Cap Value AlphaDEX Fund (FTA) and iShares Russell Top 200 Value ETF (IWX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FTA achieves a 18.18% return, which is significantly lower than IWX's 20.90% return. Both investments have delivered pretty close results over the past 10 years, with FTA having a 11.60% annualized return and IWX not far ahead at 12.13%.

FTA

1D
-0.29%
1M
2.70%
6M
12.86%
YTD
18.18%
1Y
31.73%
3Y*
15.29%
5Y*
11.21%
10Y*
11.60%
ALL TIME*
8.58%

IWX

1D
0.74%
1M
2.59%
6M
15.57%
YTD
20.90%
1Y
34.92%
3Y*
18.98%
5Y*
12.65%
10Y*
12.13%
ALL TIME*
11.70%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

FTA

First Trust Large Cap Value AlphaDEX Fund
$3.06M$3.30M$2.95M

IWX

iShares Russell Top 200 Value ETF
$55.11M$49.72M$33.93M

FTA vs. IWX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FTA
First Trust Large Cap Value AlphaDEX Fund		18.18%14.94%10.13%10.08%-3.73%29.32%-0.38%24.73%-13.63%18.47%
IWX
iShares Russell Top 200 Value ETF		20.90%18.23%14.89%10.45%-5.33%23.33%1.46%25.82%-6.53%14.05%

Correlation

The correlation between FTA and IWX is 0.70, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.70

Correlation (3Y)
Balances recent behavior with more history.

0.85

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.90

Correlation (10Y)
Provides a long-term view across more market conditions.

0.90

Correlation (All Time)
Calculated using the full available price history since Sep 28, 2009

0.89

The correlation between FTA and IWX shifts across timeframes, from 0.70 (1 year) to 0.90 (5 years), reflecting how their relationship changes across market environments.

FTA vs. IWX - Sectors Allocation Comparison

Sectors
FTA
IWX

Financial Services

23.2%
20.0%

Utilities

11.1%
2.6%

Healthcare

10.2%
13.6%

Consumer Cyclical

9.3%
11.6%

Energy

9.2%
5.1%

Industrials

8.8%
8.3%

Technology

7.3%
22.6%

Real Estate

6.6%
1.8%

Consumer Defensive

6.5%
8.2%

Communication Services

4.6%
3.5%

Basic Materials

3.2%
2.8%

Financial Services

FTA
23.2%
IWX
20.0%

Utilities

FTA
11.1%
IWX
2.6%

Healthcare

FTA
10.2%
IWX
13.6%

Consumer Cyclical

FTA
9.3%
IWX
11.6%

Energy

FTA
9.2%
IWX
5.1%

Industrials

FTA
8.8%
IWX
8.3%

Technology

FTA
7.3%
IWX
22.6%

Real Estate

FTA
6.6%
IWX
1.8%

Consumer Defensive

FTA
6.5%
IWX
8.2%

Communication Services

FTA
4.6%
IWX
3.5%

Basic Materials

FTA
3.2%
IWX
2.8%

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 Large Cap Value AlphaDEX Fund

iShares Russell Top 200 Value ETF

Often compared with FTA:
FTA vs. COTZXFTA vs. GPAIXFTA vs. SPYFTA vs. VTVFTA vs. FNCMXFTA vs. MOATFTA vs. ^GSPC
Often compared with IWX:
IWX vs. IWNIWX vs. IWYIWX vs. IWCIWX vs. IWFIWX vs. XLPIWX vs. QQQIWX vs. SPYV

Return for Risk

FTA vs. IWX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
FTA
FTA Risk / Return Rank: 9494
Overall Rank
FTA Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
FTA Sortino Ratio Rank: 9595
Sortino Ratio Rank
FTA Omega Ratio Rank: 9292
Omega Ratio Rank
FTA Calmar Ratio Rank: 9696
Calmar Ratio Rank
FTA Martin Ratio Rank: 9595
Martin Ratio Rank
IWX
IWX Risk / Return Rank: 9595
Overall Rank
IWX Sharpe Ratio Rank: 9696
Sharpe Ratio Rank
IWX Sortino Ratio Rank: 9696
Sortino Ratio Rank
IWX Omega Ratio Rank: 9595
Omega Ratio Rank
IWX Calmar Ratio Rank: 9595
Calmar Ratio Rank
IWX Martin Ratio Rank: 9696
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FTA vs. IWX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Large Cap Value AlphaDEX Fund (FTA) and iShares Russell Top 200 Value ETF (IWX). 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.

FTAIWXDifference
Sharpe ratioReturn per unit of total volatility
2.63
3.10

-0.46

Sortino ratioReturn per unit of downside risk
3.90
4.28

-0.38

Omega ratioGain probability vs. loss probability

1.46

1.55

-0.10

Calmar ratioReturn relative to maximum drawdown

5.93

5.05

+0.88

Martin ratioReturn relative to average drawdown

20.26

22.22

-1.95

FTA vs. IWX - Sharpe Ratio Comparison

The current FTA Sharpe Ratio is 2.63, which is comparable to the IWX Sharpe Ratio of 3.10. The chart below compares the historical Sharpe Ratios of FTA and IWX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

FTA vs. IWX - Drawdown Comparison

The maximum FTA drawdown since its inception was -62.45%, which is greater than IWX's maximum drawdown of -35.76%. Use the drawdown chart below to compare losses from any high point for FTA and IWX.

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Drawdown Indicators

FTAIWXDifference

Max Drawdown

Largest peak-to-trough decline

-62.45%

-35.76%

-26.69%

Max Drawdown (1Y)

Largest decline over 1 year

-5.13%

-6.59%

+1.46%

Max Drawdown (3Y)

Largest decline over 3 years

-18.73%

-13.37%

-5.36%

Max Drawdown (5Y)

Largest decline over 5 years

-19.80%

-18.13%

-1.67%

Max Drawdown (10Y)

Largest decline over 10 years

-44.97%

-35.76%

-9.21%

Current Drawdown

Current decline from peak

-1.56%

0.00%

-1.56%

Average Drawdown

Average peak-to-trough decline

-8.97%

-3.79%

-5.18%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.50%

1.50%

0.00%

Volatility

FTA vs. IWX - Volatility Comparison

First Trust Large Cap Value AlphaDEX Fund (FTA) has a higher volatility of 3.93% compared to iShares Russell Top 200 Value ETF (IWX) at 3.10%. This indicates that FTA's price experiences larger fluctuations and is considered to be riskier than IWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FTAIWXDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.93%

3.10%

+0.83%

Volatility (6M)

Calculated over the trailing 6-month period

8.04%

8.46%

-0.42%

Volatility (1Y)

Calculated over the trailing 1-year period

11.61%

10.81%

+0.80%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.23%

13.89%

+2.34%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.85%

16.48%

+3.37%

FTA vs. IWX - Expense Ratio Comparison

FTA has a 0.60% expense ratio, which is higher than IWX's 0.20% expense ratio.

Dividends

FTA vs. IWX - Dividend Comparison

FTA's dividend yield for the trailing twelve months is around 1.61%, more than IWX's 1.39% yield.

PositionTTM20252024202320222021202020192018201720162015
FTA
First Trust Large Cap Value AlphaDEX Fund		1.61%1.89%2.02%2.10%2.15%1.54%2.03%1.88%2.28%1.53%1.56%2.05%
IWX
iShares Russell Top 200 Value ETF		1.39%1.59%1.97%2.13%2.07%1.79%2.12%2.60%2.66%2.12%2.22%2.77%

Frequently Asked Questions

FTA and IWX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FTA has higher volatility (3.93%) compared to IWX (3.10%). In terms of maximum drawdown, FTA dropped -62.45% vs IWX's -35.76%.

On 10-year performance, IWX leads with 12.13% vs 11.60% for FTA. On fees, IWX is cheaper at 0.20% per year. On volatility, IWX has been the lower-risk option at 3.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IWX has performed better with a 12.13% return vs 11.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IWX is cheaper with a 0.20% expense ratio, compared with 0.60% for FTA.

FTA has the higher dividend yield at 1.61%, compared with 1.39% for IWX.

FTA tracks NASDAQ AlphaDEX Large Cap Value Index, while IWX tracks Russell Top 200 Value Index. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.60% for FTA and 0.20% for IWX.

IWX currently has the higher Sharpe Ratio (3.10 vs 2.63), 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.

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