VSS vs. FDTS

Last updated Apr 1, 2026

Compare and contrast key facts about Vanguard FTSE All-World ex-US Small-Cap ETF (VSS) and First Trust Developed Markets ex-US Small Cap AlphaDEX Fund (FDTS).

VSS and FDTS are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VSS is a passively managed fund by Vanguard that tracks the performance of the FTSE Global Small Cap ex US Index. It was launched on Apr 2, 2009. FDTS is a passively managed fund by First Trust that tracks the performance of the NASDAQ AlphaDEX DM Ex-US Small Cap Index. It was launched on Feb 15, 2012. Both VSS and FDTS are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

VSS vs. FDTS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard FTSE All-World ex-US Small-Cap ETF (VSS) and First Trust Developed Markets ex-US Small Cap AlphaDEX Fund (FDTS). The values are adjusted to include any dividend payments, if applicable.

VSS vs. FDTS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VSS Vanguard FTSE All-World ex-US Small-Cap ETF	1.72%	29.61%	2.94%	15.52%	-21.48%	13.05%	11.81%	21.36%	-18.48%	30.61%
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund	11.04%	51.17%	2.44%	10.96%	-15.34%	11.79%	12.90%	18.71%	-23.71%	36.01%

Returns By Period

In the year-to-date period, VSS achieves a 1.72% return, which is significantly lower than FDTS's 11.04% return. Over the past 10 years, VSS has underperformed FDTS with an annualized return of 7.63%, while FDTS has yielded a comparatively higher 10.43% annualized return.

VSS

• 1D: 3.06%
• 1M: -8.91%
• YTD: 1.72%
• 6M: 4.71%
• 1Y: 30.55%
• 3Y*: 13.84%
• 5Y*: 5.38%
• 10Y*: 7.63%

FDTS

• 1D: 3.04%
• 1M: -9.63%
• YTD: 11.04%
• 6M: 16.94%
• 1Y: 59.05%
• 3Y*: 21.33%
• 5Y*: 10.78%
• 10Y*: 10.43%

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

VSS vs. FDTS - Expense Ratio Comparison

VSS has a 0.07% expense ratio, which is lower than FDTS's 0.80% expense ratio.

FDTS

First Trust Developed Markets ex-US Small Cap AlphaDEX Fund

VSS

Vanguard FTSE All-World ex-US Small-Cap ETF

Return for Risk

VSS vs. FDTS — Risk / Return Rank

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

VSS

VSS Risk / Return Rank: 89
VSS Sharpe Ratio Rank: 90
VSS Sortino Ratio Rank: 90
VSS Omega Ratio Rank: 91
VSS Calmar Ratio Rank: 87
VSS Martin Ratio Rank: 88

FDTS

FDTS Risk / Return Rank: 97
FDTS Sharpe Ratio Rank: 98
FDTS Sortino Ratio Rank: 98
FDTS Omega Ratio Rank: 97
FDTS Calmar Ratio Rank: 97
FDTS Martin Ratio Rank: 97

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.

VSS vs. FDTS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE All-World ex-US Small-Cap ETF (VSS) and First Trust Developed Markets ex-US Small Cap AlphaDEX Fund (FDTS). 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.

	VSS	FDTS	Difference
Sharpe ratio Return per unit of total volatility	1.88	3.16	-1.28
Sortino ratio Return per unit of downside risk	2.50	3.90	-1.40
Omega ratio Gain probability vs. loss probability	1.38	1.60	-0.22
Calmar ratio Return relative to maximum drawdown	2.54	4.68	-2.14
Martin ratio Return relative to average drawdown	10.09	18.83	-8.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VSS vs. FDTS - Sharpe Ratio Comparison

The current VSS Sharpe Ratio is 1.88, which is lower than the FDTS Sharpe Ratio of 3.16. The chart below compares the historical Sharpe Ratios of VSS and FDTS, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VSS	FDTS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.88	3.16	-1.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	0.37	-0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	0.42	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.36	+0.16

Correlation

The correlation between VSS and FDTS is 0.57, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

VSS vs. FDTS - Dividend Comparison

VSS's dividend yield for the trailing twelve months is around 3.33%, more than FDTS's 2.71% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VSS Vanguard FTSE All-World ex-US Small-Cap ETF	3.33%	3.39%	3.44%	3.14%	2.30%	2.74%	1.90%	3.25%	2.80%	2.83%	2.93%	2.66%
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund	2.71%	2.94%	3.94%	2.90%	3.71%	3.01%	2.02%	2.30%	1.96%	2.08%	1.78%	1.73%

Drawdowns

VSS vs. FDTS - Drawdown Comparison

The maximum VSS drawdown since its inception was -43.51%, smaller than the maximum FDTS drawdown of -51.26%. Use the drawdown chart below to compare losses from any high point for VSS and FDTS.

Drawdown Indicators

	VSS	FDTS	Difference
Max Drawdown Largest peak-to-trough decline	-43.51%	-51.26%	+7.75%
Max Drawdown (1Y) Largest decline over 1 year	-11.62%	-12.61%	+0.99%
Max Drawdown (5Y) Largest decline over 5 years	-33.93%	-33.11%	-0.82%
Max Drawdown (10Y) Largest decline over 10 years	-43.51%	-51.26%	+7.75%
Current Drawdown Current decline from peak	-8.91%	-9.95%	+1.04%
Average Drawdown Average peak-to-trough decline	-9.72%	-10.74%	+1.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.93%	3.13%	-0.20%

Volatility

VSS vs. FDTS - Volatility Comparison

Vanguard FTSE All-World ex-US Small-Cap ETF (VSS) and First Trust Developed Markets ex-US Small Cap AlphaDEX Fund (FDTS) have volatilities of 7.61% and 7.97%, 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.

Volatility by Period

	VSS	FDTS	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.61%	7.97%	-0.36%
Volatility (6M) Calculated over the trailing 6-month period	11.00%	12.60%	-1.60%
Volatility (1Y) Calculated over the trailing 1-year period	16.37%	18.77%	-2.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.26%	29.14%	-12.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.17%	24.75%	-7.58%