FEX vs IVV
First Trust Large Cap Core AlphaDEX Fund vs iShares Core S&P 500 ETF
Which is better, FEX or IVV?
Nearly the same fund. IVV costs less.
IVV has a lower expense ratio. FEX led over 1Y, IVV over 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.96. FEX is less concentrated, with 5.4% of the fund in its ten largest positions against 37.9%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | FEX | IVV |
|---|---|---|
| Expense Ratio | 0.57% | 0.03%Best |
| AUM | $1.6B | $886.7B |
| Dividend Yield | 0.95% | 1.10% |
| Holdings | 752 | 508 |
| YTD Return | +15.60%Best | +13.39% |
| 1Y Return | +21.31%Best | +20.08% |
| 3Y Return (annualized) | +19.33% | +21.29%Best |
| 5Y Return (annualized) | +10.55% | +12.88%Best |
| Volatility (annualized) | 17.1% | 15.6%Best |
| Max Drawdown | -59.7% | -56.5%Best |
| $10,000 over 5 years | $16,512 | $18,327Best |
| Top 10 Weight | 5.4%Best | 37.9% |
| Fund Family | First Trust Portfolios (US) | iShares by BlackRock (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | May 8, 2007 | May 15, 2000 |
Volatility and max drawdown are measured over the window both funds cover: May 10, 2007 to Sep 4, 2026 (19.3 years).
FEX vs IVV growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 19.3 years both funds cover.
FEX vs IVV Performance
First Trust Large Cap Core AlphaDEX Fund (FEX) is an ETF from First Trust Portfolios (US) and iShares Core S&P 500 ETF (IVV) is an ETF from iShares by BlackRock (US). Over the past year FEX returned +21.31% while IVV returned +20.08%. Year to date, FEX is up 15.60% versus a gain of 13.39% for IVV.
Over three years, FEX compounded at +19.33% per year against +21.29% for IVV; over five years the annualized figures are +10.55% and +12.88% respectively. Across the full 19-year window we track, IVV has the edge at +9.31% annualized vs +8.60%.
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 15.6% 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 what each fund did in the worst stretch of the window measured above.
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 0.95% against 1.10% for IVV.
Holdings Overlap
82.3% of FEX's money is in holdings IVV also owns. 71.8% of IVV's money is in holdings FEX also owns.
Most of FEX is already inside IVV. Owning both mostly buys the same companies twice.
307 positions in common, counted across the 369 positions we hold weights for in FEX and 505 in IVV, against full books of 752 and 508.
What only one of them owns
Our book lists 191 positions for IVV that do not appear in our book for FEX (27.7% of the fund), and 55 for FEX that do not appear in IVV (14.8%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in FEX | Weight in IVV | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 0.29% | 7.98% | 7.69% |
| AAPLApple, Inc | 0.19% | 6.86% | 6.67% |
| AMZNAmazon.Com Inc | 0.20% | 4.01% | 3.81% |
| GOOGLAlphabet Inc.Class A | 0.36% | 3.19% | 2.83% |
| AVGOBroadcom Inc | 0.29% | 2.98% | 2.69% |
| BRK.BBerkshire Hathaway Inc Brk/B Us Equity | 0.46% | 1.43% | 0.97% |
| MUMicron Technology, Inc. | 0.34% | 1.51% | 1.17% |
| LLYEli Lilly & Co. | 0.34% | 1.39% | 1.05% |
| JPMJpmorgan Chase | 0.10% | 1.45% | 1.35% |
| AMDAdvanced Micro Devices Inc | 0.36% | 1.18% | 0.82% |
82.3% of FEX is already inside IVV.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
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, by $54 a year on a $10,000 investment.
Which performed better, FEX or IVV?
Over the past year FEX returned +21.31% vs +20.08% for IVV, so FEX leads on 1-year performance. Over the longest common window we track (19 years), FEX annualized +8.60% vs +9.31% for IVV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FEX or IVV?
FEX has been the more volatile fund at 17.1% annualized versus 15.6% 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. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between FEX and IVV?
82.3% of FEX's money is in holdings IVV also owns. 71.8% of IVV's is in holdings FEX also owns. They hold 307 positions in common, counted across the 369 positions we hold weights for in FEX and 505 in IVV.
Which pays a higher dividend, FEX or IVV?
FEX yields 0.95% while IVV yields 1.10%, so IVV currently pays the higher dividend yield.
Is IVV better than FEX?
IVV has a lower expense ratio. FEX led over 1Y, IVV over 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.96. FEX is less concentrated, with 5.4% of the fund in its ten largest positions against 37.9%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.