FYT vs. TIBIX

Last updated Jun 13, 2026

FYT (First Trust Small Cap Value AlphaDEX Fund) and TIBIX (Thornburg Investment Income Builder Fund Class I) are both funds - FYT is a Small Cap Value Equities fund tracking the NASDAQ AlphaDEX Small Cap Value Index, while TIBIX is a Diversified Portfolio fund actively managed by Thornburg. FYT is passively managed, while TIBIX is actively managed. Over the past 10 years, FYT returned 10.88%/yr vs 12.91%/yr for TIBIX. A 0.66 correlation means they provide meaningful diversification when combined. FYT charges 0.72%/yr vs 0.93%/yr for TIBIX.

Performance

FYT vs. TIBIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Small Cap Value AlphaDEX Fund (FYT) and Thornburg Investment Income Builder Fund Class I (TIBIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FYT achieves a 21.84% return, which is significantly higher than TIBIX's 17.41% return. Over the past 10 years, FYT has underperformed TIBIX with an annualized return of 10.88%, while TIBIX has yielded a comparatively higher 12.91% annualized return.

FYT

• 1D: 0.76%
• 1M: 7.59%
• YTD: 21.84%
• 6M: 18.40%
• 1Y: 38.57%
• 3Y*: 15.62%
• 5Y*: 6.92%
• 10Y*: 10.88%

TIBIX

• 1D: 1.50%
• 1M: 1.28%
• YTD: 17.41%
• 6M: 20.85%
• 1Y: 37.28%
• 3Y*: 26.39%
• 5Y*: 16.24%
• 10Y*: 12.91%

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

FYT vs. TIBIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FYT First Trust Small Cap Value AlphaDEX Fund	21.84%	4.00%	3.24%	22.90%	-14.05%	29.33%	9.82%	25.80%	-14.73%	7.14%
TIBIX Thornburg Investment Income Builder Fund Class I	17.41%	37.01%	13.48%	18.28%	-7.69%	20.36%	-0.40%	18.01%	-4.31%	15.23%

Correlation

The correlation between FYT and TIBIX is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (10Y) Calculated over the trailing 10-year period	0.67
Correlation (All Time) Calculated using the full available price history since Apr 20, 2011	0.66

The correlation between FYT and TIBIX shifts across timeframes, from 0.47 (1 year) to 0.67 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

FYT vs. TIBIX — Risk / Return Rank

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

FYT

FYT Risk / Return Rank: 77
FYT Sharpe Ratio Rank: 73
FYT Sortino Ratio Rank: 77
FYT Omega Ratio Rank: 69
FYT Calmar Ratio Rank: 89
FYT Martin Ratio Rank: 78

TIBIX

TIBIX Risk / Return Rank: 98
TIBIX Sharpe Ratio Rank: 99
TIBIX Sortino Ratio Rank: 98
TIBIX Omega Ratio Rank: 97
TIBIX Calmar Ratio Rank: 98
TIBIX Martin Ratio Rank: 98

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. TIBIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Small Cap Value AlphaDEX Fund (FYT) and Thornburg Investment Income Builder Fund Class I (TIBIX). 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	TIBIX	Difference
Sharpe ratio: Return per unit of total volatility	2.06	4.34	-2.28
Sortino ratio: Return per unit of downside risk	3.02	6.13	-3.12
Omega ratio: Gain probability vs. loss probability	1.36	1.86	-0.50
Calmar ratio: Return relative to maximum drawdown	4.65	7.10	-2.45
Martin ratio: Return relative to average drawdown	13.26	27.13	-13.87

FYT vs. TIBIX - Sharpe Ratio Comparison

The current FYT Sharpe Ratio is 2.06, which is lower than the TIBIX Sharpe Ratio of 4.34. The chart below compares the historical Sharpe Ratios of FYT and TIBIX, 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. TIBIX - Drawdown Comparison

The maximum FYT drawdown since its inception was -50.48%, roughly equal to the maximum TIBIX drawdown of -48.88%. Use the drawdown chart below to compare losses from any high point for FYT and TIBIX.

Drawdown Indicators

	FYT	TIBIX	Difference
Max Drawdown Largest peak-to-trough decline	-50.48%	-48.88%	-1.60%
Max Drawdown (1Y) Largest decline over 1 year	-8.34%	-5.39%	-2.95%
Max Drawdown (3Y) Largest decline over 3 years	-28.90%	-9.23%	-19.67%
Max Drawdown (5Y) Largest decline over 5 years	-28.90%	-20.79%	-8.11%
Max Drawdown (10Y) Largest decline over 10 years	-50.48%	-34.85%	-15.63%
Current Drawdown Current decline from peak	0.00%	-0.46%	+0.46%
Average Drawdown Average peak-to-trough decline	-8.52%	-5.95%	-2.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.93%	1.41%	+1.52%

Volatility

FYT vs. TIBIX - Volatility Comparison

First Trust Small Cap Value AlphaDEX Fund (FYT) has a higher volatility of 4.36% compared to Thornburg Investment Income Builder Fund Class I (TIBIX) at 3.54%. This indicates that FYT's price experiences larger fluctuations and is considered to be riskier than TIBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FYT	TIBIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.36%	3.54%	+0.82%
Volatility (6M) Calculated over the trailing 6-month period	11.43%	7.38%	+4.05%
Volatility (1Y) Calculated over the trailing 1-year period	18.84%	8.81%	+10.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.57%	11.21%	+11.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.95%	13.51%	+12.44%

FYT vs. TIBIX - Expense Ratio Comparison

FYT has a 0.72% expense ratio, which is lower than TIBIX's 0.93% expense ratio.

Dividends

FYT vs. TIBIX - Dividend Comparison

FYT's dividend yield for the trailing twelve months is around 1.06%, less than TIBIX's 5.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FYT First Trust Small Cap Value AlphaDEX Fund	1.06%	0.94%	2.07%	1.50%	1.36%	1.19%	0.96%	1.44%	1.78%	1.16%	1.16%	0.96%
TIBIX Thornburg Investment Income Builder Fund Class I	5.05%	5.83%	5.67%	4.89%	5.89%	5.33%	4.31%	4.46%	4.77%	4.52%	4.14%	4.66%

Frequently Asked Questions

Can I hold both FYT and TIBIX in my portfolio?

FYT and TIBIX have a correlation of 0.47, 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 TIBIX?

FYT has higher volatility (4.36%) compared to TIBIX (3.54%). In terms of maximum drawdown, FYT dropped -50.48% vs TIBIX's -48.88%.

Which has better risk-adjusted returns?

TIBIX currently has the higher Sharpe Ratio (4.34 vs 2.06), 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.