FYT vs. VOO

Last updated Jun 13, 2026

FYT (First Trust Small Cap Value AlphaDEX Fund) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - FYT is a Small Cap Value Equities fund tracking the NASDAQ AlphaDEX Small Cap Value Index, while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, FYT returned 10.88%/yr vs 15.50%/yr for VOO. A 0.70 correlation means they provide meaningful diversification when combined. FYT charges 0.72%/yr vs 0.03%/yr for VOO.

Performance

FYT vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Small Cap Value AlphaDEX Fund (FYT) and Vanguard S&P 500 ETF (VOO). 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 VOO's 9.08% return. Over the past 10 years, FYT has underperformed VOO with an annualized return of 10.88%, while VOO has yielded a comparatively higher 15.50% 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%

VOO

• 1D: 0.55%
• 1M: -0.07%
• YTD: 9.08%
• 6M: 9.44%
• 1Y: 24.36%
• 3Y*: 20.95%
• 5Y*: 13.43%
• 10Y*: 15.50%

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

FYT vs. VOO - 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%
VOO Vanguard S&P 500 ETF	9.08%	17.82%	24.98%	26.32%	-18.17%	28.79%	18.32%	31.37%	-4.50%	21.77%

Correlation

The correlation between FYT and VOO is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (10Y) Calculated over the trailing 10-year period	0.69
Correlation (All Time) Calculated using the full available price history since Apr 20, 2011	0.70

The correlation between FYT and VOO shifts across timeframes, from 0.58 (1 year) to 0.71 (5 years), reflecting how their relationship changes across market environments.

FYT vs. VOO - Sectors Allocation Comparison

Sectors	FYT	VOO
Financial Services	25.5%	11.6%
Consumer Cyclical	13.3%	10.2%
Industrials	12.9%	8.3%
Real Estate	9.1%	1.9%
Technology	8.4%	35.7%
Consumer Defensive	7.2%	4.9%
Energy	7.2%	3.5%
Healthcare	6.1%	8.5%
Basic Materials	4.6%	1.8%
Communication Services	2.7%	11.3%
Utilities	2.7%	2.4%

Return for Risk

FYT vs. VOO — 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

VOO

VOO Risk / Return Rank: 70
VOO Sharpe Ratio Rank: 71
VOO Sortino Ratio Rank: 69
VOO Omega Ratio Rank: 71
VOO Calmar Ratio Rank: 63
VOO Martin Ratio Rank: 76

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. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Small Cap Value AlphaDEX Fund (FYT) and Vanguard S&P 500 ETF (VOO). 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	VOO	Difference
Sharpe ratio: Return per unit of total volatility	2.06	1.99	+0.06
Sortino ratio: Return per unit of downside risk	3.02	2.70	+0.32
Omega ratio: Gain probability vs. loss probability	1.36	1.36	0.00
Calmar ratio: Return relative to maximum drawdown	4.65	2.75	+1.90
Martin ratio: Return relative to average drawdown	13.26	12.42	+0.84

FYT vs. VOO - Sharpe Ratio Comparison

The current FYT Sharpe Ratio is 2.06, which is comparable to the VOO Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of FYT and VOO, 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. VOO - Drawdown Comparison

The maximum FYT drawdown since its inception was -50.48%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for FYT and VOO.

Drawdown Indicators

	FYT	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-50.48%	-33.99%	-16.49%
Max Drawdown (1Y) Largest decline over 1 year	-8.34%	-8.90%	+0.56%
Max Drawdown (3Y) Largest decline over 3 years	-28.90%	-18.69%	-10.21%
Max Drawdown (5Y) Largest decline over 5 years	-28.90%	-24.52%	-4.38%
Max Drawdown (10Y) Largest decline over 10 years	-50.48%	-33.99%	-16.49%
Current Drawdown Current decline from peak	0.00%	-2.34%	+2.34%
Average Drawdown Average peak-to-trough decline	-8.52%	-3.68%	-4.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.93%	1.97%	+0.96%

Volatility

FYT vs. VOO - Volatility Comparison

First Trust Small Cap Value AlphaDEX Fund (FYT) and Vanguard S&P 500 ETF (VOO) have volatilities of 4.36% 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	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.36%	4.34%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	11.43%	9.58%	+1.85%
Volatility (1Y) Calculated over the trailing 1-year period	18.84%	12.27%	+6.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.57%	16.88%	+5.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.95%	18.03%	+7.92%

FYT vs. VOO - Expense Ratio Comparison

FYT has a 0.72% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

FYT vs. VOO - Dividend Comparison

FYT's dividend yield for the trailing twelve months is around 1.06%, which matches VOO's 1.05% 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%
VOO Vanguard S&P 500 ETF	1.05%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both FYT and VOO in my portfolio?

FYT and VOO have a correlation of 0.58, 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 VOO?

FYT has higher volatility (4.36%) compared to VOO (4.34%). In terms of maximum drawdown, FYT dropped -50.48% vs VOO's -33.99%.

Which ETF is better, FYT or VOO?

On 10-year performance, VOO leads with 15.50% vs 10.88% for FYT. On fees, VOO is cheaper at 0.03% 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 VOO?

Over the 10-year period, VOO has performed better with a 15.50% return vs 10.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FYT or VOO?

VOO is cheaper with a 0.03% expense ratio, compared with 0.72% for FYT.

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

FYT and VOO have nearly identical dividend yields, around 1.06%.

What is the main difference between FYT and VOO?

FYT is categorized as Small Cap Value Equities, while VOO is S&P 500. FYT tracks NASDAQ AlphaDEX Small Cap Value Index, while VOO tracks S&P 500 Index. They also come from different issuers: First Trust and Vanguard. Their fees differ too: 0.72% for FYT and 0.03% for VOO.

Which has better risk-adjusted returns?

FYT currently has the higher Sharpe Ratio (2.06 vs 1.99), 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.