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FYX vs. IJR
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FYX vs. IJR

Last updated Jun 24, 2026

FYX (First Trust Small Cap Core AlphaDEX Fund) and IJR (iShares Core S&P Small-Cap ETF) are both Small Cap Blend Equities funds - FYX tracks the Nasdaq AlphaDEX Small Cap Core Index while IJR tracks the S&P SmallCap 600 Index. Both are passively managed. Over the past 10 years, FYX returned 13.06%/yr vs 11.30%/yr for IJR. Their correlation of 0.94 suggests significant overlap in exposure. FYX charges 0.63%/yr vs 0.06%/yr for IJR.

Performance

FYX vs. IJR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Small Cap Core AlphaDEX Fund (FYX) and iShares Core S&P Small-Cap ETF (IJR). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FYX achieves a 22.94% return, which is significantly higher than IJR's 19.34% return. Over the past 10 years, FYX has outperformed IJR with an annualized return of 13.06%, while IJR has yielded a comparatively lower 11.30% annualized return.

FYX

1D
-0.01%
1M
4.51%
YTD
22.94%
6M
20.86%
1Y
47.16%
3Y*
22.06%
5Y*
9.19%
10Y*
13.06%

IJR

1D
-0.34%
1M
4.22%
YTD
19.34%
6M
16.86%
1Y
34.47%
3Y*
16.15%
5Y*
6.29%
10Y*
11.30%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FYX vs. IJR - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FYX
First Trust Small Cap Core AlphaDEX Fund		22.94%12.68%12.22%18.30%-18.41%27.43%19.48%21.32%-10.64%14.34%
IJR
iShares Core S&P Small-Cap ETF		19.34%5.89%8.63%16.06%-16.20%26.58%11.28%22.82%-8.51%13.15%

Correlation

The correlation between FYX and IJR is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.97

Correlation (3Y)
Calculated over the trailing 3-year period

0.98

Correlation (5Y)
Calculated over the trailing 5-year period

0.98

Correlation (10Y)
Calculated over the trailing 10-year period

0.98

Correlation (All Time)
Calculated using the full available price history since May 10, 2007

0.94

The correlation between FYX and IJR has been stable across timeframes, ranging from 0.94 to 0.98 - a consistent structural relationship.

FYX vs. IJR - Sectors Allocation Comparison

Sectors
FYX
IJR

Financial Services

17.3%
16.0%

Industrials

16.6%
16.0%

Healthcare

14.0%
11.0%

Technology

11.7%
15.9%

Consumer Cyclical

11.7%
12.5%

Real Estate

8.6%
7.5%

Energy

5.7%
6.8%

Consumer Defensive

5.3%
3.2%

Basic Materials

4.5%
4.7%

Communication Services

3.1%
3.2%

Utilities

1.6%
1.9%

Financial Services

FYX
17.3%
IJR
16.0%

Industrials

FYX
16.6%
IJR
16.0%

Healthcare

FYX
14.0%
IJR
11.0%

Technology

FYX
11.7%
IJR
15.9%

Consumer Cyclical

FYX
11.7%
IJR
12.5%

Real Estate

FYX
8.6%
IJR
7.5%

Energy

FYX
5.7%
IJR
6.8%

Consumer Defensive

FYX
5.3%
IJR
3.2%

Basic Materials

FYX
4.5%
IJR
4.7%

Communication Services

FYX
3.1%
IJR
3.2%

Utilities

FYX
1.6%
IJR
1.9%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

First Trust Small Cap Core AlphaDEX Fund

iShares Core S&P Small-Cap ETF

Often compared with FYX:
FYX vs. FYCFYX vs. SPMOFYX vs. SPSMFYX vs. IWYFYX vs. FNCMXFYX vs. VTWOFYX vs. OMFS
Often compared with IJR:
IJR vs. IWMIJR vs. VBIJR vs. AVUVIJR vs. IJHIJR vs. IJSIJR vs. SCHAIJR vs. VBR

Return for Risk

FYX vs. IJR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FYX
FYX Risk / Return Rank: 8787
Overall Rank
FYX Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
FYX Sortino Ratio Rank: 8787
Sortino Ratio Rank
FYX Omega Ratio Rank: 7878
Omega Ratio Rank
FYX Calmar Ratio Rank: 9393
Calmar Ratio Rank
FYX Martin Ratio Rank: 9191
Martin Ratio Rank
IJR
IJR Risk / Return Rank: 6767
Overall Rank
IJR Sharpe Ratio Rank: 6161
Sharpe Ratio Rank
IJR Sortino Ratio Rank: 6363
Sortino Ratio Rank
IJR Omega Ratio Rank: 5656
Omega Ratio Rank
IJR Calmar Ratio Rank: 7979
Calmar Ratio Rank
IJR Martin Ratio Rank: 7474
Martin Ratio Rank
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. IJR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Small Cap Core AlphaDEX Fund (FYX) and iShares Core S&P Small-Cap ETF (IJR). 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.

FYXIJRDifference
Sharpe ratioReturn per unit of total volatility
2.58
1.96

+0.62

Sortino ratioReturn per unit of downside risk
3.66
2.84

+0.82

Omega ratioGain probability vs. loss probability

1.43

1.34

+0.09

Calmar ratioReturn relative to maximum drawdown

6.27

3.99

+2.28

Martin ratioReturn relative to average drawdown

20.40

13.39

+7.01

FYX vs. IJR - Sharpe Ratio Comparison

The current FYX Sharpe Ratio is 2.58, which is higher than the IJR Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of FYX and IJR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

FYX vs. IJR - Drawdown Comparison

The maximum FYX drawdown since its inception was -61.80%, which is greater than IJR's maximum drawdown of -58.15%. Use the drawdown chart below to compare losses from any high point for FYX and IJR.

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Drawdown Indicators

FYXIJRDifference

Max Drawdown

Largest peak-to-trough decline

-61.80%

-58.15%

-3.65%

Max Drawdown (1Y)

Largest decline over 1 year

-7.56%

-8.68%

+1.12%

Max Drawdown (3Y)

Largest decline over 3 years

-27.91%

-28.02%

+0.11%

Max Drawdown (5Y)

Largest decline over 5 years

-27.91%

-28.02%

+0.11%

Max Drawdown (10Y)

Largest decline over 10 years

-48.82%

-44.36%

-4.46%

Current Drawdown

Current decline from peak

-0.12%

-0.43%

+0.31%

Average Drawdown

Average peak-to-trough decline

-10.86%

-9.26%

-1.60%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.32%

2.58%

-0.26%

Volatility

FYX vs. IJR - Volatility Comparison

First Trust Small Cap Core AlphaDEX Fund (FYX) and iShares Core S&P Small-Cap ETF (IJR) have volatilities of 4.89% and 4.96%, 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.

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Volatility by Period

FYXIJRDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.89%

4.96%

-0.07%

Volatility (6M)

Calculated over the trailing 6-month period

12.29%

12.06%

+0.23%

Volatility (1Y)

Calculated over the trailing 1-year period

18.42%

17.73%

+0.69%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

21.96%

21.40%

+0.56%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

24.20%

22.90%

+1.30%

FYX vs. IJR - Expense Ratio Comparison

FYX has a 0.63% expense ratio, which is higher than IJR's 0.06% expense ratio.

Dividends

FYX vs. IJR - Dividend Comparison

FYX's dividend yield for the trailing twelve months is around 0.67%, less than IJR's 1.15% yield.

PositionTTM20252024202320222021202020192018201720162015
FYX
First Trust Small Cap Core AlphaDEX Fund		0.67%0.64%1.62%1.22%0.95%0.99%0.65%1.12%1.08%0.60%0.94%0.88%
IJR
iShares Core S&P Small-Cap ETF		1.15%1.44%2.05%1.31%1.41%1.53%1.11%1.44%1.58%1.20%1.22%1.48%

Frequently Asked Questions

With a correlation of 0.97, FYX and IJR 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.

IJR has higher volatility (4.96%) compared to FYX (4.89%). In terms of maximum drawdown, FYX dropped -61.80% vs IJR's -58.15%.

On 10-year performance, FYX leads with 13.06% vs 11.30% for IJR. On fees, IJR is cheaper at 0.06% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, FYX has performed better with a 13.06% return vs 11.30%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IJR is cheaper with a 0.06% expense ratio, compared with 0.63% for FYX.

IJR has the higher dividend yield at 1.15%, compared with 0.67% for FYX.

FYX tracks Nasdaq AlphaDEX Small Cap Core Index, while IJR tracks S&P SmallCap 600 Index. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.63% for FYX and 0.06% for IJR.

FYX currently has the higher Sharpe Ratio (2.58 vs 1.96), 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.

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