FTC vs. IWY

Last updated Aug 2, 2026

FTC (First Trust Large Cap Growth AlphaDEX Fund) and IWY (iShares Russell Top 200 Growth ETF) are both Large Cap Growth Equities funds - FTC tracks the NASDAQ AlphaDEX Large Cap Growth Index while IWY tracks the Russell Top 200 Growth Index. Both are passively managed. Over the past 10 years, FTC returned 13.72%/yr vs 18.31%/yr for IWY. Their correlation of 0.86 means they have usually moved in the same direction. FTC charges 0.58%/yr vs 0.20%/yr for IWY.

Performance

FTC vs. IWY - Performance Comparison

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

Returns By Period

In the year-to-date period, FTC achieves a 10.20% return, which is significantly higher than IWY's -0.03% return. Over the past 10 years, FTC has underperformed IWY with an annualized return of 13.72%, while IWY has yielded a comparatively higher 18.31% annualized return.

FTC

• 1D: 0.47%
• 1M: -4.20%
• 6M: 8.58%
• YTD: 10.20%
• 1Y: 15.05%
• 3Y*: 19.53%
• 5Y*: 9.81%
• 10Y*: 13.72%
• ALL TIME*: 10.32%

IWY

• 1D: 0.85%
• 1M: -2.47%
• 6M: 1.67%
• YTD: -0.03%
• 1Y: 10.78%
• 3Y*: 19.65%
• 5Y*: 12.72%
• 10Y*: 18.31%
• ALL TIME*: 16.69%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FTC First Trust Large Cap Growth AlphaDEX Fund	$3.59M	$2.82M	$2.77M
IWY iShares Russell Top 200 Growth ETF	$127.32M	$104.93M	$113.90M

FTC vs. IWY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FTC First Trust Large Cap Growth AlphaDEX Fund	10.20%	15.89%	26.60%	20.72%	-23.28%	24.43%	33.35%	28.07%	-6.03%	25.32%
IWY iShares Russell Top 200 Growth ETF	-0.03%	18.19%	34.89%	46.49%	-29.91%	31.05%	39.01%	36.20%	-0.72%	31.69%

Correlation

The correlation between FTC and IWY is 0.75, 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.	0.75
Correlation (3Y) Balances recent behavior with more history.	0.76
Correlation (5Y) Shows whether the relationship held over a longer period.	0.81
Correlation (10Y) Provides a long-term view across more market conditions.	0.83
Correlation (All Time) Calculated using the full available price history since Sep 28, 2009	0.86

The correlation between FTC and IWY shifts across timeframes, from 0.75 (1 year) to 0.86 (all time), reflecting how their relationship changes across market environments.

FTC vs. IWY - Sectors Allocation Comparison

Sectors	FTC	IWY
Technology	37.9%	57.1%
Industrials	27.4%	6.5%
Healthcare	8.8%	5.0%
Consumer Cyclical	8.7%	7.3%
Financial Services	6.0%	5.0%
Basic Materials	2.7%	0.1%
Communication Services	2.1%	16.4%
Real Estate	1.9%	0.2%
Utilities	1.8%	1.0%
Consumer Defensive	1.8%	1.2%
Energy	0.8%	0.0%

Return for Risk

FTC vs. IWY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FTC

FTC Risk / Return Rank: 29
FTC Sharpe Ratio Rank: 26
FTC Sortino Ratio Rank: 26
FTC Omega Ratio Rank: 26
FTC Calmar Ratio Rank: 31
FTC Martin Ratio Rank: 36

IWY

IWY Risk / Return Rank: 21
IWY Sharpe Ratio Rank: 22
IWY Sortino Ratio Rank: 22
IWY Omega Ratio Rank: 21
IWY Calmar Ratio Rank: 20
IWY Martin Ratio Rank: 22

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.

FTC vs. IWY - Risk-Adjusted Trends Comparison

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

	FTC	IWY	Difference
Sharpe ratio: Return per unit of total volatility	0.61	0.48	+0.13
Sortino ratio: Return per unit of downside risk	0.98	0.79	+0.19
Omega ratio: Gain probability vs. loss probability	1.12	1.09	+0.03
Calmar ratio: Return relative to maximum drawdown	1.06	0.52	+0.55
Martin ratio: Return relative to average drawdown	3.64	1.50	+2.14

FTC vs. IWY - Sharpe Ratio Comparison

The current FTC Sharpe Ratio is 0.61, which is comparable to the IWY Sharpe Ratio of 0.48. The chart below compares the historical Sharpe Ratios of FTC and IWY, 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

FTC vs. IWY - Drawdown Comparison

The maximum FTC drawdown since its inception was -54.05%, which is greater than IWY's maximum drawdown of -32.68%. Use the drawdown chart below to compare losses from any high point for FTC and IWY.

Drawdown Indicators

	FTC	IWY	Difference
Max Drawdown Largest peak-to-trough decline	-54.05%	-32.68%	-21.37%
Max Drawdown (1Y) Largest decline over 1 year	-12.37%	-16.63%	+4.26%
Max Drawdown (3Y) Largest decline over 3 years	-21.41%	-23.22%	+1.81%
Max Drawdown (5Y) Largest decline over 5 years	-31.18%	-32.68%	+1.50%
Max Drawdown (10Y) Largest decline over 10 years	-34.66%	-32.68%	-1.98%
Current Drawdown Current decline from peak	-9.28%	-8.44%	-0.84%
Average Drawdown Average peak-to-trough decline	-9.28%	-4.76%	-4.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.61%	5.70%	-2.09%

Volatility

FTC vs. IWY - Volatility Comparison

First Trust Large Cap Growth AlphaDEX Fund (FTC) has a higher volatility of 7.27% compared to iShares Russell Top 200 Growth ETF (IWY) at 6.91%. This indicates that FTC's price experiences larger fluctuations and is considered to be riskier than IWY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTC	IWY	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.27%	6.91%	+0.36%
Volatility (6M) Calculated over the trailing 6-month period	17.88%	14.24%	+3.64%
Volatility (1Y) Calculated over the trailing 1-year period	21.43%	17.75%	+3.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.48%	21.81%	-1.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.75%	21.13%	-0.38%

FTC vs. IWY - Expense Ratio Comparison

FTC has a 0.58% expense ratio, which is higher than IWY's 0.20% expense ratio.

Dividends

FTC vs. IWY - Dividend Comparison

FTC's dividend yield for the trailing twelve months is around 0.15%, less than IWY's 0.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTC First Trust Large Cap Growth AlphaDEX Fund	0.15%	0.20%	0.32%	0.65%	0.90%	0.00%	0.40%	0.64%	0.35%	0.40%	0.86%	0.52%
IWY iShares Russell Top 200 Growth ETF	0.36%	0.36%	0.42%	0.68%	0.88%	0.50%	0.71%	1.06%	1.32%	1.26%	1.51%	1.58%

Frequently Asked Questions

Can I hold both FTC and IWY in my portfolio?

FTC and IWY have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FTC or IWY?

FTC has higher volatility (7.27%) compared to IWY (6.91%). In terms of maximum drawdown, FTC dropped -54.05% vs IWY's -32.68%.

Which ETF is better, FTC or IWY?

On 10-year performance, IWY leads with 18.31% vs 13.72% for FTC. On fees, IWY is cheaper at 0.20% per year. On volatility, IWY has been the lower-risk option at 6.91%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FTC or IWY?

Over the 10-year period, IWY has performed better with a 18.31% return vs 13.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FTC or IWY?

IWY is cheaper with a 0.20% expense ratio, compared with 0.58% for FTC.

Which ETF pays a higher dividend yield, FTC or IWY?

IWY has the higher dividend yield at 0.36%, compared with 0.15% for FTC.

What is the main difference between FTC and IWY?

FTC tracks NASDAQ AlphaDEX Large Cap Growth Index, while IWY tracks Russell Top 200 Growth Index. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.58% for FTC and 0.20% for IWY.

Which has better risk-adjusted returns?

FTC currently has the higher Sharpe Ratio (0.61 vs 0.48), 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.