FYC vs. IJT

Last updated Jul 14, 2026

FYC (First Trust Small Cap Growth AlphaDEX Fund) and IJT (iShares S&P SmallCap 600 Growth ETF) are both Small Cap Growth Equities funds - FYC tracks the NASDAQ AlphaDEX Small Cap Growth Index while IJT tracks the S&P SmallCap 600 Growth Index. Both are passively managed. Over the past 10 years, FYC returned 14.25%/yr vs 10.95%/yr for IJT. Their correlation of 0.91 suggests significant overlap in exposure. FYC charges 0.71%/yr vs 0.18%/yr for IJT.

Performance

FYC vs. IJT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Small Cap Growth AlphaDEX Fund (FYC) and iShares S&P SmallCap 600 Growth ETF (IJT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FYC achieves a 25.24% return, which is significantly higher than IJT's 22.61% return. Over the past 10 years, FYC has outperformed IJT with an annualized return of 14.25%, while IJT has yielded a comparatively lower 10.95% annualized return.

FYC

• 1D: -1.27%
• 1M: 1.71%
• 6M: 17.96%
• YTD: 25.24%
• 1Y: 51.84%
• 3Y*: 25.44%
• 5Y*: 11.95%
• 10Y*: 14.25%

IJT

• 1D: -1.00%
• 1M: 2.24%
• 6M: 16.81%
• YTD: 22.61%
• 1Y: 28.00%
• 3Y*: 14.93%
• 5Y*: 7.17%
• 10Y*: 10.95%

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

FYC vs. IJT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FYC First Trust Small Cap Growth AlphaDEX Fund	25.24%	24.24%	23.99%	14.52%	-25.86%	21.64%	32.34%	16.79%	-5.54%	22.97%
IJT iShares S&P SmallCap 600 Growth ETF	22.61%	5.26%	9.33%	17.11%	-21.32%	22.37%	19.22%	20.98%	-4.40%	14.47%

Correlation

The correlation between FYC and IJT is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Apr 20, 2011	0.91

The correlation between FYC and IJT has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.

FYC vs. IJT - Sectors Allocation Comparison

Sectors	FYC	IJT
Healthcare	27.4%	14.7%
Industrials	17.4%	18.7%
Technology	17.2%	21.2%
Consumer Cyclical	9.4%	10.7%
Financial Services	9.2%	13.5%
Real Estate	5.5%	6.5%
Communication Services	3.9%	2.9%
Basic Materials	3.5%	3.0%
Consumer Defensive	3.0%	3.3%
Energy	2.1%	3.8%
Utilities	1.4%	1.7%

Return for Risk

FYC vs. IJT — Risk / Return Rank

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

FYC

FYC Risk / Return Rank: 89
FYC Sharpe Ratio Rank: 90
FYC Sortino Ratio Rank: 89
FYC Omega Ratio Rank: 82
FYC Calmar Ratio Rank: 92
FYC Martin Ratio Rank: 92

IJT

IJT Risk / Return Rank: 66
IJT Sharpe Ratio Rank: 59
IJT Sortino Ratio Rank: 64
IJT Omega Ratio Rank: 55
IJT Calmar Ratio Rank: 76
IJT 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.

FYC vs. IJT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Small Cap Growth AlphaDEX Fund (FYC) and iShares S&P SmallCap 600 Growth ETF (IJT). 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.

	FYC	IJT	Difference
Sharpe ratio: Return per unit of total volatility	2.40	1.57	+0.83
Sortino ratio: Return per unit of downside risk	3.24	2.36	+0.88
Omega ratio: Gain probability vs. loss probability	1.38	1.27	+0.11
Calmar ratio: Return relative to maximum drawdown	4.97	3.10	+1.87
Martin ratio: Return relative to average drawdown	17.57	10.77	+6.81

FYC vs. IJT - Sharpe Ratio Comparison

The current FYC Sharpe Ratio is 2.40, which is higher than the IJT Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of FYC and IJT, 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

FYC vs. IJT - Drawdown Comparison

The maximum FYC drawdown since its inception was -47.85%, smaller than the maximum IJT drawdown of -57.61%. Use the drawdown chart below to compare losses from any high point for FYC and IJT.

Drawdown Indicators

	FYC	IJT	Difference
Max Drawdown Largest peak-to-trough decline	-47.85%	-57.61%	+9.76%
Max Drawdown (1Y) Largest decline over 1 year	-10.48%	-9.08%	-1.40%
Max Drawdown (3Y) Largest decline over 3 years	-27.79%	-27.41%	-0.38%
Max Drawdown (5Y) Largest decline over 5 years	-35.37%	-29.24%	-6.13%
Max Drawdown (10Y) Largest decline over 10 years	-47.85%	-42.03%	-5.82%
Current Drawdown Current decline from peak	-5.57%	-3.39%	-2.18%
Average Drawdown Average peak-to-trough decline	-9.60%	-10.27%	+0.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.96%	2.61%	+0.35%

Volatility

FYC vs. IJT - Volatility Comparison

First Trust Small Cap Growth AlphaDEX Fund (FYC) has a higher volatility of 6.60% compared to iShares S&P SmallCap 600 Growth ETF (IJT) at 5.20%. This indicates that FYC's price experiences larger fluctuations and is considered to be riskier than IJT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FYC	IJT	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.60%	5.20%	+1.40%
Volatility (6M) Calculated over the trailing 6-month period	16.04%	13.07%	+2.97%
Volatility (1Y) Calculated over the trailing 1-year period	21.77%	17.93%	+3.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.75%	21.53%	+2.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.60%	22.99%	+1.61%

FYC vs. IJT - Expense Ratio Comparison

FYC has a 0.71% expense ratio, which is higher than IJT's 0.18% expense ratio.

Dividends

FYC vs. IJT - Dividend Comparison

FYC's dividend yield for the trailing twelve months is around 0.17%, less than IJT's 0.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FYC First Trust Small Cap Growth AlphaDEX Fund	0.17%	0.08%	0.72%	0.58%	0.00%	0.63%	0.12%	0.39%	0.09%	0.10%	0.31%	0.21%
IJT iShares S&P SmallCap 600 Growth ETF	0.70%	0.91%	1.06%	1.02%	1.08%	0.63%	0.68%	0.92%	0.92%	0.86%	1.03%	1.14%

Frequently Asked Questions

Can I hold both FYC and IJT in my portfolio?

With a correlation of 0.90, FYC and IJT move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FYC or IJT?

FYC has higher volatility (6.60%) compared to IJT (5.20%). In terms of maximum drawdown, FYC dropped -47.85% vs IJT's -57.61%.

Which ETF is better, FYC or IJT?

On 10-year performance, FYC leads with 14.25% vs 10.95% for IJT. On fees, IJT is cheaper at 0.18% per year. On volatility, IJT has been the lower-risk option at 5.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FYC or IJT?

Over the 10-year period, FYC has performed better with a 14.25% return vs 10.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FYC or IJT?

IJT is cheaper with a 0.18% expense ratio, compared with 0.71% for FYC.

Which ETF pays a higher dividend yield, FYC or IJT?

IJT has the higher dividend yield at 0.70%, compared with 0.17% for FYC.

What is the main difference between FYC and IJT?

FYC tracks NASDAQ AlphaDEX Small Cap Growth Index, while IJT tracks S&P SmallCap 600 Growth Index. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.71% for FYC and 0.18% for IJT.

Which has better risk-adjusted returns?

FYC currently has the higher Sharpe Ratio (2.40 vs 1.57), 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.