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FEX vs RWK: how they differ

FEX and RWK hold 5% of their weight in the same names, and FEX returned +17.6% over the year. First Trust Large Cap Core AlphaDEX Fund and Invesco S&P MidCap 400 Revenue ETF.

RWK costs 0.18 points a year less; their one-year returns differ by 1.7 points; FEX is 1.2 times larger.

FEXRWK
Expense ratio0.57%0.39%
Net assets$1.6bn$1.3bn
Total return, 1 year+17.6%+15.9%
Holdings in common5%
Nasdaq-100, total return, 1 year+23.6%
Top ten holdings, share of the fund5.0%20.9%
Below its high4.1%, high on Aug 14, 20266.7%, high on Aug 14, 2026

Holdings in common uses holdings dated Oct 8, 2026 and Oct 9, 2026.

+17.6%
FEX total return, 1 year
+15.9%
RWK total return, 1 year
0.57%
FEX expense ratio
0.39%
RWK expense ratio

What they hold in common

By the books each fund has filed, FEX and RWK hold 5% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated Oct 8, 2026 and Oct 9, 2026.

half

5% in common

Positions both hold, largest shared weight first
Holding FEX RWK
HF Sinclair Corp. 0.49% 1.43%
Ovintiv Inc. 0.48% 0.39%
Tenet Healthcare Corporation 0.36% 0.86%
Jones Lang LaSalle Incorporated 0.34% 0.98%
SharkNinja Inc. 0.44% 0.31%
Reliance Inc. 0.27% 0.65%
Annaly Capital Management, Inc. 0.42% 0.27%
Toast, Inc. (Class A) 0.28% 0.26%
Permian Resources Corp. 0.47% 0.23%
Performance Food Group Company 0.18% 2.75%
TD SYNNEX Corporation 0.18% 2.96%
ATI Inc. 0.26% 0.18%
Only in FEX
PTC Inc. 0.60%
Everpure, Inc. (Class A) 0.51%
Hewlett Packard Enterprise Company 0.50%
NetApp, Inc. 0.49%
Constellation Brands, Inc. (Class A) 0.47%
Dell Technologies Inc. (Class C) 0.47%
EQT Corporation 0.47%
Fortinet, Inc. 0.47%
Only in RWK
Albertsons Cos Inc 3.54%
American Airlines Group Inc 2.36%
Molina Healthcare Inc 1.84%
PBF Energy Inc 1.64%
Arrow Electronics Inc 1.55%
Avnet Inc 1.23%
Lithia Motors Inc 1.22%
Penske Automotive Group Inc 1.18%

Check overlap with more funds →

On the same fields

FEX
First Trust Large Cap Core AlphaDEX Fund
RWK
Invesco S&P MidCap 400 Revenue ETF
Where it sits Stock ETF Stock ETF
Issuer First Trust Invesco
What it is Tracks an index Tracks an index
Total return, 1 year +17.6% +15.9%
S&P 500 over the same days +17.3% +17.3%
Gap to the S&P 500 +0.4 pts −1.3 pts
Expense ratio 0.57% 0.39%
Already in the S&P 500 85.6% 2.4%
Holdings 375 400
Net assets $1.6bn $1.3bn

FEX and RWK on the fields both publish, as of Oct 9, 2026. Source: ETFIQ.

FEX in plain words

FEX tracks an index. Over the year to Oct 9, 2026 it returned +17.6% with distributions reinvested, against +17.3% for the S&P 500 and +23.6% for the Nasdaq-100. The prospectus expense ratio is 0.57% a year. By its holdings published by its issuer for Oct 9, 2026, 86% of the fund by weight is stocks the S&P 500 also holds, across 375 positions, with the top ten at 5.0%. It sat 4.1% below its high of Aug 14, 2026 on Oct 9, 2026.

RWK in plain words

RWK tracks an index. Over the year to Oct 9, 2026 it returned +15.9% with distributions reinvested, against +17.3% for the S&P 500 and +23.6% for the Nasdaq-100. The prospectus expense ratio is 0.39% a year. By its holdings published by its issuer for Oct 8, 2026, 2% of the fund by weight is stocks the S&P 500 also holds, across 400 positions, with the top ten at 20.9%. It sat 6.7% below its high of Aug 14, 2026 on Oct 9, 2026.

Questions people ask

Which returned more over the last year, FEX or RWK?
In the year to Oct 9, 2026, with distributions reinvested, FEX returned +17.6% and RWK +15.9%.
Which is cheaper, FEX or RWK?
RWK is cheaper, by 0.18 percentage points a year. On $10,000 held for a year that difference is about $18. Fees come from each fund's prospectus.
How much do FEX and RWK overlap with the S&P 500?
By their latest filed holdings, 86% of FEX and 2% of RWK by weight is stocks the S&P 500 already holds.
Other comparisons
FEX vs SDYFEX vs VOEFEX vs FTAFEX vs RSPARWK vs SMIGRWK vs SDOGILCV vs RWKFTA vs RWK
FEX on its own →RWK on its own →Hold both: look the portfolio through →Rankings →Standards and sources →
Where these figures came from
FEX filings on SEC EDGAR ↗FEX prospectus with the expense ratio (SEC) ↗First Trust page for FEX ↗RWK filings on SEC EDGAR ↗RWK prospectus with the expense ratio (SEC) ↗Invesco page for RWK ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.

How this is computed

Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed.

Cite this page

ETFIQ, FEX against RWK, data as of Oct 9, 2026. https://etfiq.com/compare/any/fex-vs-rwk

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.