VB vs. FYX

Last updated Jun 3, 2026

VB (Vanguard Small-Cap ETF) and FYX (First Trust Small Cap Core AlphaDEX Fund) are both Small Cap Blend Equities funds - VB tracks the CRSP US Small Cap Index while FYX tracks the Nasdaq AlphaDEX Small Cap Core Index. Both are passively managed. Over the past 10 years, VB returned 11.38%/yr vs 12.42%/yr for FYX. Their correlation of 0.92 suggests significant overlap in exposure. VB charges 0.05%/yr vs 0.63%/yr for FYX.

Performance

VB vs. FYX - Performance Comparison

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

Returns By Period

In the year-to-date period, VB achieves a 14.91% return, which is significantly lower than FYX's 19.73% return. Over the past 10 years, VB has underperformed FYX with an annualized return of 11.38%, while FYX has yielded a comparatively higher 12.42% annualized return.

VB

• 1D: 0.75%
• 1M: 3.68%
• YTD: 14.91%
• 6M: 16.03%
• 1Y: 31.39%
• 3Y*: 17.31%
• 5Y*: 7.35%
• 10Y*: 11.38%

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%

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

VB vs. FYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VB Vanguard Small-Cap ETF	14.91%	8.87%	14.17%	18.22%	-17.51%	17.57%	19.19%	27.34%	-9.34%	16.26%
FYX First Trust Small Cap Core AlphaDEX Fund	19.73%	12.68%	12.22%	18.30%	-18.41%	27.43%	19.48%	21.32%	-10.64%	14.34%

Correlation

The correlation between VB and FYX is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since May 11, 2007	0.92

The correlation between VB and FYX has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

VB vs. FYX - Sectors Allocation Comparison

Sectors	VB	FYX
Industrials	20.8%	15.9%
Technology	17.2%	10.9%
Financial Services	12.6%	17.5%
Consumer Cyclical	11.3%	11.7%
Healthcare	11.1%	14.3%
Real Estate	7.6%	8.4%
Basic Materials	4.8%	4.5%
Energy	4.7%	6.4%
Consumer Defensive	3.4%	5.7%
Utilities	3.3%	1.6%
Communication Services	3.1%	3.1%

Return for Risk

VB vs. FYX — Risk / Return Rank

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

VB

VB Risk / Return Rank: 61
VB Sharpe Ratio Rank: 56
VB Sortino Ratio Rank: 57
VB Omega Ratio Rank: 54
VB Calmar Ratio Rank: 69
VB Martin Ratio Rank: 68

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

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.

VB vs. FYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Small-Cap ETF (VB) and First Trust Small Cap Core AlphaDEX Fund (FYX). 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.

	VB	FYX	Difference
Sharpe ratio Return per unit of total volatility	1.94	2.64	-0.71
Sortino ratio Return per unit of downside risk	2.75	3.73	-0.97
Omega ratio Gain probability vs. loss probability	1.34	1.44	-0.10
Calmar ratio Return relative to maximum drawdown	3.48	6.28	-2.81
Martin ratio Return relative to average drawdown	12.82	20.31	-7.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VB vs. FYX - Sharpe Ratio Comparison

The current VB Sharpe Ratio is 1.94, which is comparable to the FYX Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of VB and FYX, 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

	VB	FYX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.94	2.64	-0.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	0.39	-0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	0.51	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.36	+0.08

Drawdowns

VB vs. FYX - Drawdown Comparison

The maximum VB drawdown since its inception was -59.56%, roughly equal to the maximum FYX drawdown of -61.80%. Use the drawdown chart below to compare losses from any high point for VB and FYX.

Drawdown Indicators

	VB	FYX	Difference
Max Drawdown Largest peak-to-trough decline	-59.56%	-61.80%	+2.24%
Max Drawdown (1Y) Largest decline over 1 year	-8.98%	-7.56%	-1.42%
Max Drawdown (3Y) Largest decline over 3 years	-25.36%	-27.91%	+2.55%
Max Drawdown (5Y) Largest decline over 5 years	-28.15%	-27.91%	-0.24%
Max Drawdown (10Y) Largest decline over 10 years	-42.05%	-48.82%	+6.77%
Current Drawdown Current decline from peak	0.00%	-0.15%	+0.15%
Average Drawdown Average peak-to-trough decline	-8.44%	-10.89%	+2.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.43%	2.34%	+0.09%

Volatility

VB vs. FYX - Volatility Comparison

Vanguard Small-Cap ETF (VB) and First Trust Small Cap Core AlphaDEX Fund (FYX) have volatilities of 4.40% and 4.60%, 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

	VB	FYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.40%	4.60%	-0.20%
Volatility (6M) Calculated over the trailing 6-month period	11.73%	11.96%	-0.23%
Volatility (1Y) Calculated over the trailing 1-year period	16.27%	18.22%	-1.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.75%	21.95%	-1.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.43%	24.21%	-2.78%

VB vs. FYX - Expense Ratio Comparison

VB has a 0.05% expense ratio, which is lower than FYX's 0.63% expense ratio.

Dividends

VB vs. FYX - Dividend Comparison

VB's dividend yield for the trailing twelve months is around 1.19%, more than FYX's 0.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VB Vanguard Small-Cap ETF	1.19%	1.33%	1.30%	1.55%	1.59%	1.24%	1.14%	1.39%	1.67%	1.35%	1.50%	1.48%

Frequently Asked Questions

Can I hold both VB and FYX in my portfolio?

With a correlation of 0.94, VB and FYX 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.

Which is riskier, VB or FYX?

FYX has higher volatility (4.60%) compared to VB (4.40%). In terms of maximum drawdown, VB dropped -59.56% vs FYX's -61.80%.

Which ETF is better, VB or FYX?

On 10-year performance, FYX leads with 12.42% vs 11.38% for VB. On fees, VB is cheaper at 0.05% per year. On volatility, VB has been the lower-risk option at 4.40%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VB or FYX?

Over the 10-year period, FYX has performed better with a 12.42% return vs 11.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VB or FYX?

VB is cheaper with a 0.05% expense ratio, compared with 0.63% for FYX.

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

VB has the higher dividend yield at 1.19%, compared with 0.68% for FYX.

What is the main difference between VB and FYX?

VB tracks CRSP US Small Cap Index, while FYX tracks Nasdaq AlphaDEX Small Cap Core Index. They also come from different issuers: Vanguard and First Trust. Their fees differ too: 0.05% for VB and 0.63% for FYX.

Which has better risk-adjusted returns?

FYX currently has the higher Sharpe Ratio (2.64 vs 1.94), 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.