FYT vs. DSMC

Last updated Jun 24, 2026

FYT (First Trust Small Cap Value AlphaDEX Fund) and DSMC (Distillate Small/Mid Cash Flow ETF) are both Small Cap Value Equities funds. FYT is passively managed, while DSMC is actively managed. Over the past 3 years, FYT returned 17.05%/yr vs 12.32%/yr for DSMC. Their correlation of 0.92 suggests significant overlap in exposure. FYT charges 0.72%/yr vs 0.55%/yr for DSMC.

Performance

FYT vs. DSMC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Small Cap Value AlphaDEX Fund (FYT) and Distillate Small/Mid Cash Flow ETF (DSMC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FYT achieves a 20.07% return, which is significantly higher than DSMC's 11.65% return.

FYT

• 1D: 0.84%
• 1M: 3.60%
• YTD: 20.07%
• 6M: 18.81%
• 1Y: 38.55%
• 3Y*: 17.05%
• 5Y*: 7.15%
• 10Y*: 10.80%

DSMC

• 1D: 0.60%
• 1M: 0.03%
• YTD: 11.65%
• 6M: 10.44%
• 1Y: 24.54%
• 3Y*: 12.32%
• 5Y*: —
• 10Y*: —

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

FYT vs. DSMC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FYT First Trust Small Cap Value AlphaDEX Fund	20.07%	4.00%	3.24%	22.90%	5.05%
DSMC Distillate Small/Mid Cash Flow ETF	11.65%	2.73%	2.81%	29.50%	8.50%

Correlation

The correlation between FYT and DSMC 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	0.91
Correlation (All Time) Calculated using the full available price history since Oct 6, 2022	0.92

The correlation between FYT and DSMC has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.

FYT vs. DSMC - Sectors Allocation Comparison

Sectors	FYT	DSMC
Financial Services	25.5%	3.0%
Consumer Cyclical	13.3%	18.7%
Industrials	12.9%	16.6%
Real Estate	9.1%	0.4%
Technology	8.4%	18.0%
Consumer Defensive	7.2%	9.0%
Energy	7.2%	14.4%
Healthcare	6.1%	11.0%
Basic Materials	4.6%	3.4%
Communication Services	2.7%	5.8%
Utilities	2.7%	-

Return for Risk

FYT vs. DSMC — Risk / Return Rank

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

FYT

FYT Risk / Return Rank: 74
FYT Sharpe Ratio Rank: 70
FYT Sortino Ratio Rank: 74
FYT Omega Ratio Rank: 65
FYT Calmar Ratio Rank: 87
FYT Martin Ratio Rank: 75

DSMC

DSMC Risk / Return Rank: 47
DSMC Sharpe Ratio Rank: 44
DSMC Sortino Ratio Rank: 48
DSMC Omega Ratio Rank: 41
DSMC Calmar Ratio Rank: 52
DSMC Martin Ratio Rank: 49

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.

FYT vs. DSMC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Small Cap Value AlphaDEX Fund (FYT) and Distillate Small/Mid Cash Flow ETF (DSMC). 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.

	FYT	DSMC	Difference
Sharpe ratio: Return per unit of total volatility	2.06	1.43	+0.63
Sortino ratio: Return per unit of downside risk	3.04	2.19	+0.85
Omega ratio: Gain probability vs. loss probability	1.36	1.25	+0.11
Calmar ratio: Return relative to maximum drawdown	4.65	2.39	+2.26
Martin ratio: Return relative to average drawdown	13.20	7.88	+5.32

FYT vs. DSMC - Sharpe Ratio Comparison

The current FYT Sharpe Ratio is 2.06, which is higher than the DSMC Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of FYT and DSMC, 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

FYT vs. DSMC - Drawdown Comparison

The maximum FYT drawdown since its inception was -50.48%, which is greater than DSMC's maximum drawdown of -28.62%. Use the drawdown chart below to compare losses from any high point for FYT and DSMC.

Drawdown Indicators

	FYT	DSMC	Difference
Max Drawdown Largest peak-to-trough decline	-50.48%	-28.62%	-21.86%
Max Drawdown (1Y) Largest decline over 1 year	-8.34%	-10.33%	+1.99%
Max Drawdown (3Y) Largest decline over 3 years	-28.90%	-28.62%	-0.28%
Max Drawdown (5Y) Largest decline over 5 years	-28.90%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-50.48%	—	—
Current Drawdown Current decline from peak	-1.45%	-3.13%	+1.68%
Average Drawdown Average peak-to-trough decline	-8.51%	-5.94%	-2.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.93%	3.12%	-0.19%

Volatility

FYT vs. DSMC - Volatility Comparison

First Trust Small Cap Value AlphaDEX Fund (FYT) and Distillate Small/Mid Cash Flow ETF (DSMC) have volatilities of 4.31% and 4.34%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FYT	DSMC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.31%	4.34%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	11.63%	10.50%	+1.13%
Volatility (1Y) Calculated over the trailing 1-year period	18.77%	17.21%	+1.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.53%	20.30%	+2.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.94%	20.30%	+5.64%

FYT vs. DSMC - Expense Ratio Comparison

FYT has a 0.72% expense ratio, which is higher than DSMC's 0.55% expense ratio.

Dividends

FYT vs. DSMC - Dividend Comparison

FYT's dividend yield for the trailing twelve months is around 1.08%, less than DSMC's 1.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DSMC Distillate Small/Mid Cash Flow ETF	1.14%	1.18%	1.31%	1.02%	0.27%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FYT First Trust Small Cap Value AlphaDEX Fund	1.08%	0.94%	2.07%	1.50%	1.36%	1.19%	0.96%	1.44%	1.78%	1.16%	1.16%	0.96%

Frequently Asked Questions

Can I hold both FYT and DSMC in my portfolio?

With a correlation of 0.90, FYT and DSMC 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, FYT or DSMC?

DSMC has higher volatility (4.34%) compared to FYT (4.31%). In terms of maximum drawdown, FYT dropped -50.48% vs DSMC's -28.62%.

Which ETF is better, FYT or DSMC?

On 3-year performance, FYT leads with 17.05% vs 12.32% for DSMC. On fees, DSMC is cheaper at 0.55% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FYT or DSMC?

Over the 3-year period, FYT has performed better with a 17.05% return vs 12.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FYT or DSMC?

DSMC is cheaper with a 0.55% expense ratio, compared with 0.72% for FYT.

Which ETF pays a higher dividend yield, FYT or DSMC?

DSMC has the higher dividend yield at 1.14%, compared with 1.08% for FYT.

What is the main difference between FYT and DSMC?

They also come from different issuers: First Trust and Distillate. Their fees differ too: 0.72% for FYT and 0.55% for DSMC.

Which has better risk-adjusted returns?

FYT currently has the higher Sharpe Ratio (2.06 vs 1.43), 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.