FEX vs VOO
First Trust Large Cap Core AlphaDEX Fund vs Vanguard S&P 500 ETF
Which is better, FEX or VOO?
Nearly the same fund. VOO costs less.
VOO has a lower expense ratio. FEX led over 1Y, VOO over 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.95. FEX is less concentrated, with 5.4% of the fund in its ten largest positions against 36.4%.
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 | VOO |
|---|---|---|
| Expense Ratio | 0.57% | 0.03%Best |
| AUM | $1.6B | $997.4B |
| Dividend Yield | 0.95% | 1.08% |
| Holdings | 752 | 509 |
| YTD Return | +15.60%Best | +13.37% |
| 1Y Return | +21.31%Best | +20.08% |
| 3Y Return (annualized) | +19.33% | +21.29%Best |
| 5Y Return (annualized) | +10.55% | +12.89%Best |
| Volatility (annualized) | 15.4% | 14.1%Best |
| Max Drawdown | -39.5% | -34.3%Best |
| $10,000 over 5 years | $16,512 | $18,335Best |
| Top 10 Weight | 5.4%Best | 36.4% |
| Fund Family | First Trust Portfolios (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | May 8, 2007 | Sep 7, 2010 |
Volatility and max drawdown are measured over the window both funds cover: Sep 9, 2010 to Sep 4, 2026 (16 years).
FEX vs VOO 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 16 years both funds cover.
FEX vs VOO Performance
First Trust Large Cap Core AlphaDEX Fund (FEX) is an ETF from First Trust Portfolios (US) and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year FEX returned +21.31% while VOO returned +20.08%. Year to date, FEX is up 15.60% versus a gain of 13.37% for VOO.
Over three years, FEX compounded at +19.33% per year against +21.29% for VOO; over five years the annualized figures are +10.55% and +12.89% respectively. Across the full 16-year window we track, VOO has the edge at +13.48% annualized vs +12.03%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FEX has been the more volatile fund, with annualized monthly volatility of 15.4% compared with 14.1% for VOO. 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 -39.5% for FEX and -34.3% for VOO. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.95. 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 VOO 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 1.08% for VOO.
Holdings Overlap
81.8% of FEX's money is in holdings VOO also owns. 72.5% of VOO's money is in holdings FEX also owns.
Most of FEX is already inside VOO. Owning both mostly buys the same companies twice.
305 positions in common, counted across the 369 positions we hold weights for in FEX and 505 in VOO, against full books of 752 and 509.
What only one of them owns
Our book lists 192 positions for VOO that do not appear in our book for FEX (27.0% of the fund), and 56 for FEX that do not appear in VOO (14.6%).
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 VOO | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 0.29% | 7.51% | 7.22% |
| AAPLApple, Inc | 0.19% | 6.59% | 6.40% |
| AMZNAmazon.Com Inc | 0.20% | 3.62% | 3.42% |
| GOOGLAlphabet Inc.Class A | 0.36% | 3.25% | 2.89% |
| AVGOBroadcom Inc | 0.29% | 2.77% | 2.48% |
| MUMicron Technology, Inc. | 0.34% | 2.02% | 1.68% |
| BRK.BBerkshire Hathaway Inc Brk/B Us Equity | 0.46% | 1.42% | 0.96% |
| AMDAdvanced Micro Devices Inc | 0.36% | 1.47% | 1.11% |
| LLYEli Lilly & Co. | 0.34% | 1.47% | 1.13% |
| JPMJpmorgan Chase | 0.10% | 1.26% | 1.16% |
81.8% of FEX is already inside VOO.
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 VOO?
FEX has an expense ratio of 0.57% while VOO charges 0.03%. VOO is the cheaper option, by $54 a year on a $10,000 investment.
Which performed better, FEX or VOO?
Over the past year FEX returned +21.31% vs +20.08% for VOO, so FEX leads on 1-year performance. Over the longest common window we track (16 years), FEX annualized +12.03% vs +13.48% for VOO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FEX or VOO?
FEX has been the more volatile fund at 15.4% annualized versus 14.1% for VOO. Worst drawdown: FEX -39.5% vs VOO -34.3%.
Should I hold both FEX and VOO?
FEX and VOO have a monthly-return correlation of 0.95, 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 VOO?
81.8% of FEX's money is in holdings VOO also owns. 72.5% of VOO's is in holdings FEX also owns. They hold 305 positions in common, counted across the 369 positions we hold weights for in FEX and 505 in VOO.
Which pays a higher dividend, FEX or VOO?
FEX yields 0.95% while VOO yields 1.08%, so VOO currently pays the higher dividend yield.
Is VOO better than FEX?
VOO has a lower expense ratio. FEX led over 1Y, VOO over 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.95. FEX is less concentrated, with 5.4% of the fund in its ten largest positions against 36.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.