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ISVL vs. FNK
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ISVL vs. FNK

Last updated Aug 4, 2026
Documentation

ISVL (iShares International Developed Small Cap Value Factor ETF) and FNK (First Trust Mid Cap Value AlphaDEX Fund) are both Small Cap Value Equities funds - ISVL tracks the FTSE Developed ex US ex Korea Small Cap Focused Value Index (USD) (Net) while FNK tracks the NASDAQ AlphaDEX Mid Cap Value Index. Both are passively managed. Over the past 5 years, ISVL returned 11.13%/yr vs 9.09%/yr for FNK. Their 0.69 correlation means they have sometimes moved together and sometimes differently. ISVL charges 0.31%/yr vs 0.70%/yr for FNK.

Performance

ISVL vs. FNK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares International Developed Small Cap Value Factor ETF (ISVL) and First Trust Mid Cap Value AlphaDEX Fund (FNK). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ISVL achieves a 12.80% return, which is significantly lower than FNK's 14.72% return.

ISVL

1D
0.84%
1M
3.33%
6M
5.61%
YTD
12.80%
1Y
29.32%
3Y*
22.06%
5Y*
11.13%
10Y*
—
ALL TIME*
12.19%

FNK

1D
-0.21%
1M
2.77%
6M
9.21%
YTD
14.72%
1Y
24.65%
3Y*
10.96%
5Y*
9.09%
10Y*
10.03%
ALL TIME*
9.34%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

FNK

First Trust Mid Cap Value AlphaDEX Fund
$141.83K$192.54K$284.84K

ISVL

iShares International Developed Small Cap Value Factor ETF
$805.32K$840.91K$966.72K

ISVL vs. FNK - Yearly Performance Comparison

2026 (YTD)20252024202320222021
ISVL
iShares International Developed Small Cap Value Factor ETF		12.80%42.84%4.58%17.56%-13.69%8.32%
FNK
First Trust Mid Cap Value AlphaDEX Fund		14.72%5.65%6.65%21.03%-7.24%15.04%

Correlation

The correlation between ISVL and FNK is 0.49, which is low. Their historical price movements had little consistent relationship.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.49

Correlation (3Y)
Balances recent behavior with more history.

0.60

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.69

Correlation (All Time)
Calculated using the full available price history since Mar 25, 2021

0.69

Over the past year, the correlation between ISVL and FNK has dropped to 0.49 - well below their long-term average of 0.69, suggesting their price drivers have been diverging.

ISVL vs. FNK - Sectors Allocation Comparison

Sectors
ISVL
FNK

Industrials

23.7%
10.2%

Financial Services

21.7%
26.5%

Real Estate

10.8%
7.1%

Consumer Cyclical

10.7%
16.8%

Basic Materials

9.0%
6.2%

Energy

6.1%
8.8%

Consumer Defensive

5.4%
5.3%

Technology

4.7%
7.1%

Healthcare

3.7%
4.4%

Communication Services

2.8%
1.3%

Utilities

1.3%
4.9%

Industrials

ISVL
23.7%
FNK
10.2%

Financial Services

ISVL
21.7%
FNK
26.5%

Real Estate

ISVL
10.8%
FNK
7.1%

Consumer Cyclical

ISVL
10.7%
FNK
16.8%

Basic Materials

ISVL
9.0%
FNK
6.2%

Energy

ISVL
6.1%
FNK
8.8%

Consumer Defensive

ISVL
5.4%
FNK
5.3%

Technology

ISVL
4.7%
FNK
7.1%

Healthcare

ISVL
3.7%
FNK
4.4%

Communication Services

ISVL
2.8%
FNK
1.3%

Utilities

ISVL
1.3%
FNK
4.9%

Compare stocks, funds, or ETFs

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

iShares International Developed Small Cap Value Factor ETF

First Trust Mid Cap Value AlphaDEX Fund

Often compared with ISVL:
ISVL vs. AVDVISVL vs. ISCFISVL vs. DLSISVL vs. VSSISVL vs. HSCZISVL vs. TISVXISVL vs. DDLS
Often compared with FNK:
FNK vs. MDYVFNK vs. FNCMXFNK vs. GETGXFNK vs. FLQMFNK vs. VOEFNK vs. DISVXFNK vs. DISV

Return for Risk

ISVL vs. FNK — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
ISVL
ISVL Risk / Return Rank: 7777
Overall Rank
ISVL Sharpe Ratio Rank: 8282
Sharpe Ratio Rank
ISVL Sortino Ratio Rank: 8383
Sortino Ratio Rank
ISVL Omega Ratio Rank: 8181
Omega Ratio Rank
ISVL Calmar Ratio Rank: 6565
Calmar Ratio Rank
ISVL Martin Ratio Rank: 7272
Martin Ratio Rank
FNK
FNK Risk / Return Rank: 6868
Overall Rank
FNK Sharpe Ratio Rank: 6868
Sharpe Ratio Rank
FNK Sortino Ratio Rank: 7474
Sortino Ratio Rank
FNK Omega Ratio Rank: 6565
Omega Ratio Rank
FNK Calmar Ratio Rank: 7171
Calmar Ratio Rank
FNK Martin Ratio Rank: 6262
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ISVL vs. FNK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares International Developed Small Cap Value Factor ETF (ISVL) and First Trust Mid Cap Value AlphaDEX Fund (FNK). 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.

ISVLFNKDifference
Sharpe ratioReturn per unit of total volatility
1.97
1.55

+0.41

Sortino ratioReturn per unit of downside risk
2.79
2.40

+0.39

Omega ratioGain probability vs. loss probability

1.35

1.28

+0.07

Calmar ratioReturn relative to maximum drawdown

2.36

2.50

-0.14

Martin ratioReturn relative to average drawdown

9.17

7.45

+1.72

ISVL vs. FNK - Sharpe Ratio Comparison

The current ISVL Sharpe Ratio is 1.97, which is comparable to the FNK Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of ISVL and FNK, 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

ISVL vs. FNK - Drawdown Comparison

The maximum ISVL drawdown since its inception was -30.48%, smaller than the maximum FNK drawdown of -50.70%. Use the drawdown chart below to compare losses from any high point for ISVL and FNK.

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Drawdown Indicators

ISVLFNKDifference

Max Drawdown

Largest peak-to-trough decline

-30.48%

-50.70%

+20.22%

Max Drawdown (1Y)

Largest decline over 1 year

-12.48%

-9.13%

-3.35%

Max Drawdown (3Y)

Largest decline over 3 years

-12.50%

-25.16%

+12.66%

Max Drawdown (5Y)

Largest decline over 5 years

-30.48%

-25.16%

-5.32%

Max Drawdown (10Y)

Largest decline over 10 years

—

-50.70%

—

Current Drawdown

Current decline from peak

0.00%

-1.34%

+1.34%

Average Drawdown

Average peak-to-trough decline

-6.49%

-6.78%

+0.29%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.20%

3.06%

+0.14%

Volatility

ISVL vs. FNK - Volatility Comparison

iShares International Developed Small Cap Value Factor ETF (ISVL) has a higher volatility of 4.46% compared to First Trust Mid Cap Value AlphaDEX Fund (FNK) at 3.86%. This indicates that ISVL's price experiences larger fluctuations and is considered to be riskier than FNK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ISVLFNKDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.46%

3.86%

+0.60%

Volatility (6M)

Calculated over the trailing 6-month period

12.80%

9.46%

+3.34%

Volatility (1Y)

Calculated over the trailing 1-year period

15.01%

14.75%

+0.26%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.92%

20.89%

-3.97%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.72%

23.75%

-7.03%

ISVL vs. FNK - Expense Ratio Comparison

ISVL has a 0.31% expense ratio, which is lower than FNK's 0.70% expense ratio.

Dividends

ISVL vs. FNK - Dividend Comparison

ISVL's dividend yield for the trailing twelve months is around 3.06%, more than FNK's 1.43% yield.

PositionTTM20252024202320222021202020192018201720162015
FNK
First Trust Mid Cap Value AlphaDEX Fund		1.43%1.53%1.63%1.76%1.66%1.27%1.61%1.82%1.76%1.40%1.38%1.45%
ISVL
iShares International Developed Small Cap Value Factor ETF		3.06%2.69%3.92%3.82%3.37%2.82%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

ISVL and FNK have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

ISVL has higher volatility (4.46%) compared to FNK (3.86%). In terms of maximum drawdown, ISVL dropped -30.48% vs FNK's -50.70%.

On 5-year performance, ISVL leads with 11.13% vs 9.09% for FNK. On fees, ISVL is cheaper at 0.31% per year. On volatility, FNK has been the lower-risk option at 3.86%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, ISVL has performed better with a 11.13% return vs 9.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

ISVL is cheaper with a 0.31% expense ratio, compared with 0.70% for FNK.

ISVL has the higher dividend yield at 3.06%, compared with 1.43% for FNK.

ISVL tracks FTSE Developed ex US ex Korea Small Cap Focused Value Index (USD) (Net), while FNK tracks NASDAQ AlphaDEX Mid Cap Value Index. They also come from different issuers: iShares and First Trust. Their fees differ too: 0.31% for ISVL and 0.70% for FNK.

ISVL currently has the higher Sharpe Ratio (1.97 vs 1.55), 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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