FYT vs. SMCF

Last updated Jun 4, 2026

FYT (First Trust Small Cap Value AlphaDEX Fund) and SMCF (Themes US Small Cap Cash Flow Champions ETF) are both Small Cap Value Equities funds - FYT tracks the NASDAQ AlphaDEX Small Cap Value Index while SMCF tracks the Solactive US Small Cap Cash Flow Champions Index - Benchmark TR Gross. Both are passively managed. Over the past year, FYT returned 34.20% vs 32.87% for SMCF. Their correlation of 0.86 suggests significant overlap in exposure. FYT charges 0.72%/yr vs 0.29%/yr for SMCF.

Performance

FYT vs. SMCF - Performance Comparison

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

Returns By Period

In the year-to-date period, FYT achieves a 15.42% return, which is significantly higher than SMCF's 13.75% return.

FYT

• 1D: -1.70%
• 1M: -1.10%
• YTD: 15.42%
• 6M: 14.14%
• 1Y: 34.20%
• 3Y*: 15.03%
• 5Y*: 5.74%
• 10Y*: 9.99%

SMCF

• 1D: -1.14%
• 1M: -1.09%
• YTD: 13.75%
• 6M: 13.63%
• 1Y: 32.87%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FYT vs. SMCF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FYT First Trust Small Cap Value AlphaDEX Fund	15.42%	4.00%	3.24%	3.76%
SMCF Themes US Small Cap Cash Flow Champions ETF	13.75%	9.56%	16.30%	4.47%

Correlation

The correlation between FYT and SMCF is 0.86, 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	0.86
Correlation (All Time) Calculated using the full available price history since Dec 14, 2023	0.86

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

FYT vs. SMCF - Sectors Allocation Comparison

Sectors	FYT	SMCF
Financial Services	25.5%	50.0%
Consumer Cyclical	13.3%	2.6%
Industrials	12.9%	9.8%
Real Estate	9.1%	0.5%
Technology	8.4%	11.0%
Consumer Defensive	7.2%	1.4%
Energy	7.2%	18.2%
Healthcare	6.1%	4.4%
Basic Materials	4.6%	0.6%
Communication Services	2.7%	1.5%
Utilities	2.7%	-

Return for Risk

FYT vs. SMCF — Risk / Return Rank

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

FYT

FYT Risk / Return Rank: 61
FYT Sharpe Ratio Rank: 53
FYT Sortino Ratio Rank: 58
FYT Omega Ratio Rank: 52
FYT Calmar Ratio Rank: 80
FYT Martin Ratio Rank: 64

SMCF

SMCF Risk / Return Rank: 67
SMCF Sharpe Ratio Rank: 61
SMCF Sortino Ratio Rank: 63
SMCF Omega Ratio Rank: 59
SMCF Calmar Ratio Rank: 85
SMCF 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.

FYT vs. SMCF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Small Cap Value AlphaDEX Fund (FYT) and Themes US Small Cap Cash Flow Champions ETF (SMCF). 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.

	FYT	SMCF	Difference
Sharpe ratio: Return per unit of total volatility	1.83	2.05	-0.23
Sortino ratio: Return per unit of downside risk	2.73	2.95	-0.22
Omega ratio: Gain probability vs. loss probability	1.32	1.36	-0.04
Calmar ratio: Return relative to maximum drawdown	4.12	4.63	-0.51
Martin ratio: Return relative to average drawdown	11.64	12.46	-0.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FYT vs. SMCF - Sharpe Ratio Comparison

The current FYT Sharpe Ratio is 1.83, which is comparable to the SMCF Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of FYT and SMCF, 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

	FYT	SMCF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.83	2.05	-0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.26	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.39	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.91	-0.52

Drawdowns

FYT vs. SMCF - Drawdown Comparison

The maximum FYT drawdown since its inception was -50.48%, which is greater than SMCF's maximum drawdown of -28.48%. Use the drawdown chart below to compare losses from any high point for FYT and SMCF.

Drawdown Indicators

	FYT	SMCF	Difference
Max Drawdown Largest peak-to-trough decline	-50.48%	-28.48%	-22.00%
Max Drawdown (1Y) Largest decline over 1 year	-8.34%	-7.13%	-1.21%
Max Drawdown (3Y) Largest decline over 3 years	-28.90%	—	—
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	-2.65%	-2.44%	-0.21%
Average Drawdown Average peak-to-trough decline	-8.54%	-5.29%	-3.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.95%	2.65%	+0.30%

Volatility

FYT vs. SMCF - Volatility Comparison

First Trust Small Cap Value AlphaDEX Fund (FYT) has a higher volatility of 4.66% compared to Themes US Small Cap Cash Flow Champions ETF (SMCF) at 3.55%. This indicates that FYT's price experiences larger fluctuations and is considered to be riskier than SMCF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FYT	SMCF	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.66%	3.55%	+1.11%
Volatility (6M) Calculated over the trailing 6-month period	11.62%	10.00%	+1.62%
Volatility (1Y) Calculated over the trailing 1-year period	18.90%	16.18%	+2.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.56%	20.31%	+2.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.96%	20.31%	+5.65%

FYT vs. SMCF - Expense Ratio Comparison

FYT has a 0.72% expense ratio, which is higher than SMCF's 0.29% expense ratio.

Dividends

FYT vs. SMCF - Dividend Comparison

FYT's dividend yield for the trailing twelve months is around 1.12%, less than SMCF's 3.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FYT First Trust Small Cap Value AlphaDEX Fund	1.12%	0.94%	2.07%	1.50%	1.36%	1.19%	0.96%	1.44%	1.78%	1.16%	1.16%	0.96%
SMCF Themes US Small Cap Cash Flow Champions ETF	3.44%	3.91%	0.61%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FYT and SMCF in my portfolio?

FYT and SMCF have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FYT or SMCF?

FYT has higher volatility (4.66%) compared to SMCF (3.55%). In terms of maximum drawdown, FYT dropped -50.48% vs SMCF's -28.48%.

Which ETF is better, FYT or SMCF?

On 1-year performance, FYT leads with 34.20% vs 32.87% for SMCF. On fees, SMCF is cheaper at 0.29% per year. On volatility, SMCF has been the lower-risk option at 3.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FYT or SMCF?

Over the 1-year period, FYT has performed better with a 34.20% return vs 32.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FYT or SMCF?

SMCF is cheaper with a 0.29% expense ratio, compared with 0.72% for FYT.

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

SMCF has the higher dividend yield at 3.44%, compared with 1.12% for FYT.

What is the main difference between FYT and SMCF?

FYT tracks NASDAQ AlphaDEX Small Cap Value Index, while SMCF tracks Solactive US Small Cap Cash Flow Champions Index - Benchmark TR Gross. They also come from different issuers: First Trust and Themes. Their fees differ too: 0.72% for FYT and 0.29% for SMCF.

Which has better risk-adjusted returns?

SMCF currently has the higher Sharpe Ratio (2.05 vs 1.83), 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.