Data as of Oct 28, 2026.
FNX vs VIOO: Differences, Returns & Fees
Over the year to Oct 28, 2026, FNX returned +12.4% to VIOO's +17.5%; 24% of their weight is in the same names.
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Net assets: $1.4bn on Oct 27, 2026 for First Trust Mid Cap Core AlphaDEX Fund, and $4.0bn on Sep 30, 2026 for Vanguard S&P Small-Cap 600 ETF.
Pair scorecard
VIOO costs 0.55 points a year less; their one-year returns differ by 5.1 points.
| Measure | FNX | VIOO |
|---|---|---|
| Return | ||
| Total return, 1 year | +12.4% | +17.5% |
| Drawdown | ||
| Below its high | 4.9%, high on Aug 14, 2026 | 6.8%, high on Aug 14, 2026 |
| Benchmark | ||
| What it tracks | Nasdaq AlphaDEX Mid Cap Core Index | S&P SmallCap 600 Index |
| Cost and size | ||
| Expense ratio | 0.62% | 0.07% |
| Net assets, FNX as of Oct 27, 2026 and VIOO as of Sep 30, 2026 | $1.4bn | $4.0bn |
| Holdings | ||
| Holdings in common | 24% | |
| Top ten holdings, share of the fund | 4.4% | 5.3% |
Holdings in common uses holdings dated Sep 30, 2026 and Oct 27, 2026. Method
Risk and return
Sep 17, 2010 to Oct 23, 2026 · 840 weekly returnsEach against its own benchmark: FNX against IWV, May 18, 2007 to Oct 23, 2026; VIOO against IJR, Sep 17, 2010 to Oct 23, 2026.
VIOO returned slightly more: +508.7% to +490.6%. FNX and VIOO swung about the same: 20.3% and 20.7%. FNX fell slightly less at its worst: −41.9% to −43.5%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | FNX | VIOO | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +490.6% | +508.7% | VIOO (slight) | Price change plus distributions, reinvested. |
| Annualized | +11.6% | +11.8% | Tie | Total return as a yearly rate. |
| Price return | +400.3% | +401.2% | Tie | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 20.3% | 20.7% | Tie | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 14.0% | 14.1% | Tie | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −41.9% | −43.5% | FNX (slight) | Deepest fall from a high to the low after it. |
| Upside capture | 115.8% | 99.0% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 107.9% | 99.6% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 1.15 | 0.99 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 0.85 | 0.99 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.56 | 0.57 | Tie | Return above Treasury bills per unit of volatility. |
| Sortino | 0.82 | 0.84 | VIOO (slight) | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.086 | 0.119 | Return above Treasury bills per unit of beta. | |
| Calmar | 0.28 | 0.27 | Tie | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | IWV | IJR | The ETF each fund is measured against. | |
| Alpha | −1.5% a year | +0.1% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −0.77 | 0.24 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −5.4% to +2.4% | −0.7% to +0.9% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | −0.01 | 0.00 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 9.1% | 1.7% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 840 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, FNX and VIOO hold 24% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026 and Oct 27, 2026.
half
24% in common
Only in one fund ↓
Side by side
FNX and VIOO on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
FNX and VIOO 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 VIOO follows S&P SmallCap 600 Index.
- Holdings in common. 24% of the weight is in the same securities (holdings dated Oct 27, 2026 and Sep 30, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 FNX returned +12.4% and VIOO +17.5% with distributions reinvested, a gap of 5.1 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.
VIOO
VIOO tracks an index. Over the year to Oct 28, 2026 it returned +17.5% with distributions reinvested, against +17.5% for its benchmark, the S&P SmallCap 600 Index. The prospectus expense ratio is 0.07% a year. By its holdings published by its issuer as of Sep 30, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 607 positions, with the top ten at 5.3%. It sat 6.8% below its high of Aug 14, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, FNX or VIOO?
- In the year to Oct 28, 2026, with distributions reinvested, FNX returned +12.4% and VIOO +17.5%.
- Which is cheaper, FNX or VIOO?
- VIOO is cheaper, by 0.55 percentage points a year. That is about $55 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 VIOO, data as of Oct 28, 2026. https://etfiq.com/compare/any/fnx-vs-vioo
ETFIQ. (Oct 28, 2026). FNX against VIOO. Retrieved from https://etfiq.com/compare/any/fnx-vs-vioo
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