FYX vs. SPSM
Compare and contrast key facts about First Trust Small Cap Core AlphaDEX Fund (FYX) and SPDR Portfolio S&P 600 Small Cap ETF (SPSM).
FYX and SPSM are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FYX is a passively managed fund by First Trust that tracks the performance of the Nasdaq AlphaDEX Small Cap Core Index. It was launched on May 8, 2007. SPSM is a passively managed fund by State Street that tracks the performance of the S&P SmallCap 600 Index. It was launched on Jul 8, 2013. Both FYX and SPSM are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FYX or SPSM.
Key characteristics
| FYX | SPSM | |
|---|---|---|
| YTD Return | 2.92% | 2.66% |
| 1Y Return | 25.85% | 22.67% |
| 3Y Return (Ann) | 1.41% | 1.41% |
| 5Y Return (Ann) | 10.38% | 9.16% |
| 10Y Return (Ann) | 8.49% | 8.86% |
| Sharpe Ratio | 1.24 | 1.09 |
| Daily Std Dev | 19.67% | 19.27% |
| Max Drawdown | -61.80% | -42.89% |
| Current Drawdown | -4.03% | -4.22% |
Correlation
The correlation between FYX and SPSM is 0.95, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
FYX vs. SPSM - Performance Comparison
In the year-to-date period, FYX achieves a 2.92% return, which is significantly higher than SPSM's 2.66% return. Both investments have delivered pretty close results over the past 10 years, with FYX having a 8.49% annualized return and SPSM not far ahead at 8.86%. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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FYX vs. SPSM - Expense Ratio Comparison
FYX has a 0.63% expense ratio, which is higher than SPSM's 0.05% expense ratio.
Risk-Adjusted Performance
FYX vs. SPSM - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Small Cap Core AlphaDEX Fund (FYX) and SPDR Portfolio S&P 600 Small Cap ETF (SPSM). 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.
Dividends
FYX vs. SPSM - Dividend Comparison
FYX's dividend yield for the trailing twelve months is around 1.09%, less than SPSM's 1.60% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FYX First Trust Small Cap Core AlphaDEX Fund | 1.09% | 1.22% | 0.95% | 0.99% | 0.65% | 1.12% | 1.08% | 0.60% | 0.94% | 0.88% | 0.58% | 0.35% |
SPSM SPDR Portfolio S&P 600 Small Cap ETF | 1.60% | 1.61% | 1.38% | 1.40% | 1.17% | 1.58% | 1.82% | 1.51% | 1.49% | 2.37% | 1.70% | 0.68% |
Drawdowns
FYX vs. SPSM - Drawdown Comparison
The maximum FYX drawdown since its inception was -61.80%, which is greater than SPSM's maximum drawdown of -42.89%. Use the drawdown chart below to compare losses from any high point for FYX and SPSM. For additional features, visit the drawdowns tool.
Volatility
FYX vs. SPSM - Volatility Comparison
First Trust Small Cap Core AlphaDEX Fund (FYX) and SPDR Portfolio S&P 600 Small Cap ETF (SPSM) have volatilities of 4.11% and 3.97%, 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.