FYC vs. XSMO

Last updated Jun 4, 2026

FYC (First Trust Small Cap Growth AlphaDEX Fund) and XSMO (Invesco S&P SmallCap Momentum ETF) are both exchange-traded funds - FYC is a Small Cap Growth Equities fund tracking the NASDAQ AlphaDEX Small Cap Growth Index, while XSMO is a Momentum fund tracking the S&P SmallCap 600 Momentum Index. Both are passively managed. Over the past 10 years, FYC returned 14.30%/yr vs 14.62%/yr for XSMO. Their correlation of 0.86 suggests significant overlap in exposure. FYC charges 0.71%/yr vs 0.36%/yr for XSMO.

Performance

FYC vs. XSMO - Performance Comparison

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

Returns By Period

In the year-to-date period, FYC achieves a 20.01% return, which is significantly lower than XSMO's 21.96% return. Both investments have delivered pretty close results over the past 10 years, with FYC having a 14.30% annualized return and XSMO not far ahead at 14.62%.

FYC

• 1D: -0.91%
• 1M: 3.23%
• YTD: 20.01%
• 6M: 20.96%
• 1Y: 53.40%
• 3Y*: 26.12%
• 5Y*: 10.47%
• 10Y*: 14.30%

XSMO

• 1D: -0.56%
• 1M: 1.29%
• YTD: 21.96%
• 6M: 20.33%
• 1Y: 32.93%
• 3Y*: 24.51%
• 5Y*: 11.21%
• 10Y*: 14.62%

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

FYC vs. XSMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FYC First Trust Small Cap Growth AlphaDEX Fund	20.01%	24.24%	23.99%	14.52%	-25.86%	21.64%	32.34%	16.79%	-5.54%	22.97%
XSMO Invesco S&P SmallCap Momentum ETF	21.96%	9.80%	17.45%	21.55%	-15.44%	19.24%	21.96%	28.65%	-3.44%	23.95%

Correlation

The correlation between FYC and XSMO is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Apr 21, 2011	0.86

The correlation between FYC and XSMO has been stable across timeframes, ranging from 0.86 to 0.91 - a consistent structural relationship.

FYC vs. XSMO - Sectors Allocation Comparison

Sectors	FYC	XSMO
Healthcare	27.9%	13.9%
Technology	13.7%	20.9%
Industrials	13.4%	19.5%
Financial Services	10.3%	12.3%
Consumer Cyclical	9.9%	9.0%
Real Estate	8.4%	5.0%
Consumer Defensive	3.8%	2.4%
Basic Materials	3.4%	5.8%
Communication Services	3.4%	4.1%
Energy	3.4%	3.1%
Utilities	1.5%	4.0%

Return for Risk

FYC vs. XSMO — Risk / Return Rank

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

FYC

FYC Risk / Return Rank: 79
FYC Sharpe Ratio Rank: 78
FYC Sortino Ratio Rank: 76
FYC Omega Ratio Rank: 68
FYC Calmar Ratio Rank: 88
FYC Martin Ratio Rank: 87

XSMO

XSMO Risk / Return Rank: 58
XSMO Sharpe Ratio Rank: 50
XSMO Sortino Ratio Rank: 52
XSMO Omega Ratio Rank: 47
XSMO Calmar Ratio Rank: 73
XSMO Martin Ratio Rank: 68

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. XSMO - Risk-Adjusted Trends Comparison

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

	FYC	XSMO	Difference
Sharpe ratio: Return per unit of total volatility	2.55	1.77	+0.79
Sortino ratio: Return per unit of downside risk	3.45	2.56	+0.89
Omega ratio: Gain probability vs. loss probability	1.41	1.30	+0.11
Calmar ratio: Return relative to maximum drawdown	5.12	3.72	+1.40
Martin ratio: Return relative to average drawdown	18.64	12.71	+5.93
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FYC vs. XSMO - Sharpe Ratio Comparison

The current FYC Sharpe Ratio is 2.55, which is higher than the XSMO Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of FYC and XSMO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FYC	XSMO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.55	1.77	+0.79
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	0.50	-0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	0.61	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.39	+0.15

Drawdowns

FYC vs. XSMO - Drawdown Comparison

The maximum FYC drawdown since its inception was -47.85%, smaller than the maximum XSMO drawdown of -58.06%. Use the drawdown chart below to compare losses from any high point for FYC and XSMO.

Drawdown Indicators

	FYC	XSMO	Difference
Max Drawdown Largest peak-to-trough decline	-47.85%	-58.06%	+10.21%
Max Drawdown (1Y) Largest decline over 1 year	-10.48%	-8.89%	-1.59%
Max Drawdown (3Y) Largest decline over 3 years	-27.79%	-24.76%	-3.03%
Max Drawdown (5Y) Largest decline over 5 years	-35.37%	-29.62%	-5.75%
Max Drawdown (10Y) Largest decline over 10 years	-47.85%	-39.39%	-8.46%
Current Drawdown Current decline from peak	-1.83%	-1.72%	-0.11%
Average Drawdown Average peak-to-trough decline	-9.66%	-11.13%	+1.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.87%	2.60%	+0.27%

Volatility

FYC vs. XSMO - Volatility Comparison

The current volatility for First Trust Small Cap Growth AlphaDEX Fund (FYC) is 5.53%, while Invesco S&P SmallCap Momentum ETF (XSMO) has a volatility of 6.34%. This indicates that FYC experiences smaller price fluctuations and is considered to be less risky than XSMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FYC	XSMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.53%	6.34%	-0.81%
Volatility (6M) Calculated over the trailing 6-month period	14.99%	14.11%	+0.88%
Volatility (1Y) Calculated over the trailing 1-year period	21.03%	18.73%	+2.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.62%	22.67%	+0.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.57%	24.12%	+0.45%

FYC vs. XSMO - Expense Ratio Comparison

FYC has a 0.71% expense ratio, which is higher than XSMO's 0.36% expense ratio.

Dividends

FYC vs. XSMO - Dividend Comparison

FYC's dividend yield for the trailing twelve months is around 0.07%, less than XSMO's 0.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FYC First Trust Small Cap Growth AlphaDEX Fund	0.07%	0.08%	0.72%	0.58%	0.00%	0.63%	0.12%	0.39%	0.09%	0.10%	0.31%	0.21%
XSMO Invesco S&P SmallCap Momentum ETF	0.53%	0.75%	0.63%	0.96%	1.19%	0.30%	0.82%	0.69%	0.66%	0.27%	0.30%	0.35%

Frequently Asked Questions

Can I hold both FYC and XSMO in my portfolio?

FYC and XSMO have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FYC or XSMO?

XSMO has higher volatility (6.34%) compared to FYC (5.53%). In terms of maximum drawdown, FYC dropped -47.85% vs XSMO's -58.06%.

Which ETF is better, FYC or XSMO?

On 10-year performance, XSMO leads with 14.62% vs 14.30% for FYC. On fees, XSMO is cheaper at 0.36% per year. On volatility, FYC has been the lower-risk option at 5.53%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FYC or XSMO?

Over the 10-year period, XSMO has performed better with a 14.62% return vs 14.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FYC or XSMO?

XSMO is cheaper with a 0.36% expense ratio, compared with 0.71% for FYC.

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

XSMO has the higher dividend yield at 0.53%, compared with 0.07% for FYC.

What is the main difference between FYC and XSMO?

FYC is categorized as Small Cap Growth Equities, while XSMO is Momentum. FYC tracks NASDAQ AlphaDEX Small Cap Growth Index, while XSMO tracks S&P SmallCap 600 Momentum Index. They also come from different issuers: First Trust and Invesco. Their fees differ too: 0.71% for FYC and 0.36% for XSMO.

Which has better risk-adjusted returns?

FYC currently has the higher Sharpe Ratio (2.55 vs 1.77), 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.