FXG vs. SPY

Last updated Jun 23, 2026

FXG (First Trust Consumer Staples AlphaDEX Fund) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - FXG is a Consumer Staples Equities fund tracking the StrataQuant Consumer Staples Index, while SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, FXG returned 4.46%/yr vs 15.70%/yr for SPY. A 0.61 correlation means they provide meaningful diversification when combined. FXG charges 0.63%/yr vs 0.09%/yr for SPY.

Performance

FXG vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Consumer Staples AlphaDEX Fund (FXG) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FXG achieves a 0.81% return, which is significantly lower than SPY's 9.74% return. Over the past 10 years, FXG has underperformed SPY with an annualized return of 4.46%, while SPY has yielded a comparatively higher 15.70% annualized return.

FXG

• 1D: -0.92%
• 1M: -0.82%
• YTD: 0.81%
• 6M: -0.08%
• 1Y: -2.14%
• 3Y*: 1.52%
• 5Y*: 3.18%
• 10Y*: 4.46%

SPY

• 1D: -0.31%
• 1M: 0.09%
• YTD: 9.74%
• 6M: 9.27%
• 1Y: 26.65%
• 3Y*: 21.27%
• 5Y*: 13.51%
• 10Y*: 15.70%

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

FXG vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FXG First Trust Consumer Staples AlphaDEX Fund	0.81%	-2.66%	3.21%	1.97%	3.28%	21.73%	4.85%	20.65%	-11.49%	7.87%
SPY State Street SPDR S&P 500 ETF	9.74%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	21.71%

Correlation

The correlation between FXG and SPY is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.09
Correlation (3Y) Calculated over the trailing 3-year period	0.28
Correlation (5Y) Calculated over the trailing 5-year period	0.43
Correlation (10Y) Calculated over the trailing 10-year period	0.52
Correlation (All Time) Calculated using the full available price history since May 10, 2007	0.61

Over the past year, the correlation between FXG and SPY has dropped to 0.09 - well below their long-term average of 0.61, suggesting their price drivers have been diverging.

FXG vs. SPY - Sectors Allocation Comparison

Sectors	FXG	SPY
Consumer Defensive	79.6%	4.5%
Healthcare	8.3%	8.3%
Consumer Cyclical	8.2%	9.9%
Industrials	4.0%	7.8%
Basic Materials	2.0%	1.7%
Communication Services	-	10.6%
Energy	-	3.1%
Financial Services	-	11.1%
Real Estate	-	1.8%
Technology	-	39.0%
Utilities	-	2.1%

Return for Risk

FXG vs. SPY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FXG

FXG Risk / Return Rank: 7
FXG Sharpe Ratio Rank: 7
FXG Sortino Ratio Rank: 7
FXG Omega Ratio Rank: 7
FXG Calmar Ratio Rank: 7
FXG Martin Ratio Rank: 7

SPY

SPY Risk / Return Rank: 68
SPY Sharpe Ratio Rank: 69
SPY Sortino Ratio Rank: 66
SPY Omega Ratio Rank: 68
SPY Calmar Ratio Rank: 63
SPY Martin Ratio Rank: 74

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.

FXG vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Consumer Staples AlphaDEX Fund (FXG) and State Street SPDR S&P 500 ETF (SPY). 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.

	FXG	SPY	Difference
Sharpe ratio: Return per unit of total volatility	-0.16	2.16	-2.32
Sortino ratio: Return per unit of downside risk	-0.14	2.91	-3.05
Omega ratio: Gain probability vs. loss probability	0.98	1.39	-0.41
Calmar ratio: Return relative to maximum drawdown	-0.17	3.01	-3.18
Martin ratio: Return relative to average drawdown	-0.37	13.54	-13.90

FXG vs. SPY - Sharpe Ratio Comparison

The current FXG Sharpe Ratio is -0.16, which is lower than the SPY Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of FXG and SPY, 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

FXG vs. SPY - Drawdown Comparison

The maximum FXG drawdown since its inception was -38.69%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for FXG and SPY.

Drawdown Indicators

	FXG	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-38.69%	-55.19%	+16.50%
Max Drawdown (1Y) Largest decline over 1 year	-12.75%	-8.88%	-3.87%
Max Drawdown (3Y) Largest decline over 3 years	-12.75%	-18.76%	+6.01%
Max Drawdown (5Y) Largest decline over 5 years	-15.70%	-24.50%	+8.80%
Max Drawdown (10Y) Largest decline over 10 years	-27.54%	-33.72%	+6.18%
Current Drawdown Current decline from peak	-11.83%	-1.75%	-10.08%
Average Drawdown Average peak-to-trough decline	-6.03%	-9.04%	+3.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.83%	1.97%	+3.86%

Volatility

FXG vs. SPY - Volatility Comparison

First Trust Consumer Staples AlphaDEX Fund (FXG) has a higher volatility of 4.92% compared to State Street SPDR S&P 500 ETF (SPY) at 4.64%. This indicates that FXG's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FXG	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.92%	4.64%	+0.28%
Volatility (6M) Calculated over the trailing 6-month period	9.84%	9.75%	+0.09%
Volatility (1Y) Calculated over the trailing 1-year period	13.26%	12.43%	+0.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.56%	17.14%	-3.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.97%	17.99%	-3.02%

FXG vs. SPY - Expense Ratio Comparison

FXG has a 0.63% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

FXG vs. SPY - Dividend Comparison

FXG's dividend yield for the trailing twelve months is around 2.87%, more than SPY's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXG First Trust Consumer Staples AlphaDEX Fund	2.87%	2.83%	1.70%	1.41%	1.83%	1.38%	1.41%	1.63%	2.31%	1.34%	1.72%	1.67%
SPY State Street SPDR S&P 500 ETF	1.01%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Frequently Asked Questions

Can I hold both FXG and SPY in my portfolio?

FXG and SPY have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FXG or SPY?

FXG has higher volatility (4.92%) compared to SPY (4.64%). In terms of maximum drawdown, FXG dropped -38.69% vs SPY's -55.19%.

Which ETF is better, FXG or SPY?

On 10-year performance, SPY leads with 15.70% vs 4.46% for FXG. On fees, SPY is cheaper at 0.09% per year. On volatility, SPY has been the lower-risk option at 4.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FXG or SPY?

Over the 10-year period, SPY has performed better with a 15.70% return vs 4.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FXG or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 0.63% for FXG.

Which ETF pays a higher dividend yield, FXG or SPY?

FXG has the higher dividend yield at 2.87%, compared with 1.01% for SPY.

What is the main difference between FXG and SPY?

FXG is categorized as Consumer Staples Equities, while SPY is S&P 500. FXG tracks StrataQuant Consumer Staples Index, while SPY tracks S&P 500 Index. They also come from different issuers: First Trust and State Street. Their fees differ too: 0.63% for FXG and 0.09% for SPY.

Which has better risk-adjusted returns?

SPY currently has the higher Sharpe Ratio (2.16 vs -0.16), 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.