FEX vs IVV
First Trust Large Cap Core AlphaDEX Fund vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. FEX delivered stronger 1-year returns. IVV offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | FEX | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.57% | 0.03% | |
| AUM | $1.6B | $865.2B | |
| Dividend Yield | 0.96% | 1.09% | |
| Holdings | 377 | 508 | |
| YTD Return | +17.00% | +13.80% | |
| 1Y Return | +26.73% | +23.01% | |
| 3Y Return (annualized) | +19.39% | +21.77% | |
| 5Y Return (annualized) | +11.00% | +13.39% | |
| Volatility (annualized) | 17.1% | 15.1% | |
| Max Drawdown | -59.7% | -56.5% | |
| Fund Family | First Trust Portfolios (US) | iShares by BlackRock (US) | |
| Category | Equity | Equity | |
| Inception | May 8, 2007 | May 15, 2000 |
FEX vs IVV Performance
First Trust Large Cap Core AlphaDEX Fund (FEX) is a ETF from First Trust Portfolios (US) and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year FEX returned +26.73% while IVV returned +23.01%. Year to date, FEX is up 17.00% versus a gain of 13.80% for IVV.
Over three years, FEX compounded at +19.39% per year against +21.77% for IVV; over five years the annualized figures are +11.00% and +13.39% respectively. Across the full 19-year window we track, FEX has the edge at +8.70% annualized vs +7.04%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FEX has been the more volatile fund, with annualized monthly volatility of 17.1% compared with 15.1% for IVV. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -59.7% for FEX and -56.5% for IVV. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.96. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FEX charges 0.57% per year while IVV charges 0.03%. On a $10,000 position that is $57 vs $3 annually, a gap of $54 per year that compounds over a long holding period. On income, FEX currently yields 0.96% against 1.09% for IVV.
Holdings Overlap
FEX and IVV share 308 holdings out of 566 unique holdings combined, representing a 32.9% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, FEX or IVV?
FEX has an expense ratio of 0.57% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $54 per year of difference.
Which performed better, FEX or IVV?
Over the past year FEX returned +26.73% vs +23.01% for IVV, so FEX leads on 1-year performance. Over the longest common window we track (19 years), FEX annualized +8.70% vs +7.04% for IVV. Past performance does not guarantee future results.
Which is riskier, FEX or IVV?
FEX has been the more volatile fund at 17.1% annualized versus 15.1% for IVV. Worst drawdown: FEX -59.7% vs IVV -56.5%.
Should I hold both FEX and IVV?
FEX and IVV have a monthly-return correlation of 0.96, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between FEX and IVV?
FEX and IVV share 308 common holdings with a 32.9% weight overlap. Combined, they hold 566 unique securities.
Which pays a higher dividend, FEX or IVV?
FEX yields 0.96% while IVV yields 1.09%, so IVV currently pays the higher dividend yield.
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