FYX vs. AFSC

Last updated Jun 3, 2026

FYX (First Trust Small Cap Core AlphaDEX Fund) and AFSC (abrdn Focused U.S. Small Cap Active ETF) are both Small Cap Blend Equities funds. FYX is passively managed, while AFSC is actively managed. Over the past year, FYX returned 47.95% vs 28.96% for AFSC. Their correlation of 0.89 suggests significant overlap in exposure. FYX charges 0.63%/yr vs 0.65%/yr for AFSC.

Performance

FYX vs. AFSC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Small Cap Core AlphaDEX Fund (FYX) and abrdn Focused U.S. Small Cap Active ETF (AFSC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FYX achieves a 19.73% return, which is significantly higher than AFSC's 17.39% return.

FYX

• 1D: 0.65%
• 1M: 1.45%
• YTD: 19.73%
• 6M: 21.82%
• 1Y: 47.95%
• 3Y*: 20.55%
• 5Y*: 8.58%
• 10Y*: 12.42%

AFSC

• 1D: 0.86%
• 1M: 1.65%
• YTD: 17.39%
• 6M: 15.69%
• 1Y: 28.96%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FYX vs. AFSC - Yearly Performance Comparison

	2026 (YTD)	2025
FYX First Trust Small Cap Core AlphaDEX Fund	19.73%	11.86%
AFSC abrdn Focused U.S. Small Cap Active ETF	17.39%	2.67%

Correlation

The correlation between FYX and AFSC is 0.89, 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	0.89
Correlation (All Time) Calculated using the full available price history since Feb 19, 2025	0.89

The correlation between FYX and AFSC has been stable across timeframes, ranging from 0.89 to 0.89 - a consistent structural relationship.

Return for Risk

FYX vs. AFSC — Risk / Return Rank

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

FYX

FYX Risk / Return Rank: 83
FYX Sharpe Ratio Rank: 80
FYX Sortino Ratio Rank: 82
FYX Omega Ratio Rank: 73
FYX Calmar Ratio Rank: 92
FYX Martin Ratio Rank: 89

AFSC

AFSC Risk / Return Rank: 48
AFSC Sharpe Ratio Rank: 44
AFSC Sortino Ratio Rank: 44
AFSC Omega Ratio Rank: 40
AFSC Calmar Ratio Rank: 55
AFSC Martin Ratio Rank: 58

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.

FYX vs. AFSC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Small Cap Core AlphaDEX Fund (FYX) and abrdn Focused U.S. Small Cap Active ETF (AFSC). 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.

	FYX	AFSC	Difference
Sharpe ratio Return per unit of total volatility	2.64	1.57	+1.08
Sortino ratio Return per unit of downside risk	3.73	2.24	+1.49
Omega ratio Gain probability vs. loss probability	1.44	1.26	+0.18
Calmar ratio Return relative to maximum drawdown	6.28	2.76	+3.52
Martin ratio Return relative to average drawdown	20.31	10.46	+9.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FYX vs. AFSC - Sharpe Ratio Comparison

The current FYX Sharpe Ratio is 2.64, which is higher than the AFSC Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of FYX and AFSC, 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

	FYX	AFSC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.64	1.57	+1.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.70	-0.33

Drawdowns

FYX vs. AFSC - Drawdown Comparison

The maximum FYX drawdown since its inception was -61.80%, which is greater than AFSC's maximum drawdown of -21.68%. Use the drawdown chart below to compare losses from any high point for FYX and AFSC.

Drawdown Indicators

	FYX	AFSC	Difference
Max Drawdown Largest peak-to-trough decline	-61.80%	-21.68%	-40.12%
Max Drawdown (1Y) Largest decline over 1 year	-7.56%	-10.29%	+2.73%
Max Drawdown (3Y) Largest decline over 3 years	-27.91%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-27.91%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-48.82%	—	—
Current Drawdown Current decline from peak	-0.15%	-1.10%	+0.95%
Average Drawdown Average peak-to-trough decline	-10.89%	-4.16%	-6.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.34%	2.72%	-0.38%

Volatility

FYX vs. AFSC - Volatility Comparison

The current volatility for First Trust Small Cap Core AlphaDEX Fund (FYX) is 4.60%, while abrdn Focused U.S. Small Cap Active ETF (AFSC) has a volatility of 5.55%. This indicates that FYX experiences smaller price fluctuations and is considered to be less risky than AFSC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FYX	AFSC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.60%	5.55%	-0.95%
Volatility (6M) Calculated over the trailing 6-month period	11.96%	13.99%	-2.03%
Volatility (1Y) Calculated over the trailing 1-year period	18.22%	18.58%	-0.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.95%	22.60%	-0.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.21%	22.60%	+1.61%

FYX vs. AFSC - Expense Ratio Comparison

FYX has a 0.63% expense ratio, which is lower than AFSC's 0.65% expense ratio.

Dividends

FYX vs. AFSC - Dividend Comparison

FYX's dividend yield for the trailing twelve months is around 0.68%, more than AFSC's 0.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AFSC abrdn Focused U.S. Small Cap Active ETF	0.07%	0.08%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FYX First Trust Small Cap Core AlphaDEX Fund	0.68%	0.64%	1.62%	1.22%	0.95%	0.99%	0.65%	1.12%	1.08%	0.60%	0.94%	0.88%

Frequently Asked Questions

Can I hold both FYX and AFSC in my portfolio?

FYX and AFSC have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FYX or AFSC?

AFSC has higher volatility (5.55%) compared to FYX (4.60%). In terms of maximum drawdown, FYX dropped -61.80% vs AFSC's -21.68%.

Which ETF is better, FYX or AFSC?

On 1-year performance, FYX leads with 47.95% vs 28.96% for AFSC. On fees, FYX is cheaper at 0.63% per year. On volatility, FYX has been the lower-risk option at 4.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FYX or AFSC?

Over the 1-year period, FYX has performed better with a 47.95% return vs 28.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FYX or AFSC?

FYX is cheaper with a 0.63% expense ratio, compared with 0.65% for AFSC.

Which ETF pays a higher dividend yield, FYX or AFSC?

FYX has the higher dividend yield at 0.68%, compared with 0.07% for AFSC.

What is the main difference between FYX and AFSC?

They also come from different issuers: First Trust and Aberdeen. Their fees differ too: 0.63% for FYX and 0.65% for AFSC.

Which has better risk-adjusted returns?

FYX currently has the higher Sharpe Ratio (2.64 vs 1.57), 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.