Data as of Oct 28, 2026.
FNX vs FYX: Differences, Returns & Fees
Over the year to Oct 28, 2026, FNX returned +12.4% to FYX's +26.2%; 0% of their weight is in the same names.
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Net assets on Oct 27, 2026: $1.4bn for First Trust Mid Cap Core AlphaDEX Fund and $1.4bn for First Trust Small Cap Core AlphaDEX Fund.
Pair scorecard
FYX costs 0.04 points a year less; their one-year returns differ by 13.8 points.
| Measure | FNX | FYX |
|---|---|---|
| Return | ||
| Total return, 1 year | +12.4% | +26.2% |
| Drawdown | ||
| Below its high | 4.9%, high on Aug 14, 2026 | 5.0%, high on Aug 4, 2026 |
| Benchmark | ||
| What it tracks | Nasdaq AlphaDEX Mid Cap Core Index | Nasdaq AlphaDEX Small Cap Core Index |
| Cost and size | ||
| Expense ratio | 0.62% | 0.58% |
| Net assets, as of Oct 27, 2026 | $1.4bn | $1.4bn |
| Holdings | ||
| Holdings in common | 0% | |
| Top ten holdings, share of the fund | 4.4% | 3.9% |
Holdings in common uses holdings dated Oct 27, 2026. Method
Risk and return
May 18, 2007 to Oct 23, 2026 · 1,014 weekly returns · each against IWVFNX returned slightly more: +455.7% to +445.9%. FNX swung slightly less: 22.8% to 24.6%. FNX fell slightly less at its worst: −57.0% to −60.9%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | FNX | FYX | IWV | Edge | How it is measured |
|---|---|---|---|---|---|
| Return | |||||
| Total return | +455.7% | +445.9% | +573.1% | FNX (slight) | Price change plus distributions, reinvested. |
| Annualized | +9.2% | +9.1% | +10.3% | Tie | Total return as a yearly rate. |
| Price return | +360.2% | +363.4% | +388.5% | Tie | Price change alone, distributions left out. |
| Risk | |||||
| Volatility | 22.8% | 24.6% | 18.3% | FNX (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 16.2% | 17.0% | 13.0% | FNX (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −57.0% | −60.9% | −55.0% | FNX (slight) | Deepest fall from a high to the low after it. |
| Upside capture | 115.8% | 122.6% | 100.0% | FYX (slight) | Share of its benchmark's rise caught in the weeks it rose. |
| Downside capture | 107.9% | 110.3% | 100.0% | FNX (slight) | Share of its benchmark's fall taken in the weeks it fell. Lower is better. |
| Beta | 1.15 | 1.19 | 1.00 | FNX lower | How far it moves for each 1% its benchmark moves. |
| R squared | 0.85 | 0.78 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | |||||
| Sharpe | 0.43 | 0.41 | 0.54 | FNX (slight) | Return above Treasury bills per unit of volatility. |
| Sortino | 0.61 | 0.60 | 0.77 | Tie | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.086 | 0.086 | 0.099 | Tie | Return above Treasury bills per unit of beta. |
| Calmar | 0.16 | 0.15 | 0.19 | FNX (slight) | Annualized return divided by the max drawdown. |
| Against the benchmark | |||||
| Benchmark | IWV | IWV | IWV | The ETF each fund is measured against. | |
| Alpha | −1.5% a year | −1.6% a year | 0.0% | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −0.77 | −0.62 | Not an edge | How sure the alpha is. Below 2, it could be chance. | |
| Alpha range | −5.4% to +2.4% | −6.7% to +3.5% | Both include zero | The 95% range for the yearly alpha. | |
| Information ratio | −0.01 | 0.02 | FYX | Return against its benchmark per unit of tracking error. | |
| Tracking error | 9.1% | 12.0% | 0.0% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 1,014 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, FNX and FYX hold 0% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
0% in common
Only in one fund ↓
Side by side
FNX and FYX on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
FNX and FYX are built for the same job. How do they differ in cost, holdings and results?
- What each follows. FNX follows Nasdaq AlphaDEX Mid Cap Core Index and FYX follows Nasdaq AlphaDEX Small Cap Core Index.
- Holdings in common. 0% of the weight is in the same securities (holdings dated Oct 27, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 FNX returned +12.4% and FYX +26.2% with distributions reinvested, a gap of 13.8 points.
Data as of Oct 28, 2026.
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Over the year to Oct 28, 2026 it returned +12.4% with distributions reinvested, against +13.3% for its benchmark, the Russell 3000 Index.
FNX tracks an index. The prospectus expense ratio is 0.62% a year. By its holdings published by its issuer for Oct 27, 2026, 8% of the fund by weight is stocks the S&P 500 also holds, across 451 positions, with the top ten at 4.4%. It sat 4.9% below its high of Aug 14, 2026 on Oct 28, 2026.
Over the year to Oct 28, 2026 it returned +26.2% with distributions reinvested, against +13.3% for its benchmark, the Russell 3000 Index.
FYX tracks an index. The prospectus expense ratio is 0.58% a year. By its holdings published by its issuer for Oct 27, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 525 positions, with the top ten at 3.9%. It sat 5.0% below its high of Aug 4, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, FNX or FYX?
- In the year to Oct 28, 2026, with distributions reinvested, FNX returned +12.4% and FYX +26.2%.
- Which is cheaper, FNX or FYX?
- FYX is cheaper, by 0.04 percentage points a year. That is about $4 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, FNX against FYX, data as of Oct 28, 2026. https://etfiq.com/compare/any/fnx-vs-fyx
ETFIQ. (Oct 28, 2026). FNX against FYX. Retrieved from https://etfiq.com/compare/any/fnx-vs-fyx
[FNX against FYX (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/fnx-vs-fyx)
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