FKU vs SPY
First Trust United Kingdom AlphaDEX Fund vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. FKU delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | FKU | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.80% | 0.09% | |
| AUM | $38M | $789.1B | |
| Dividend Yield | 2.71% | 1.01% | |
| Holdings | 79 | 505 | |
| YTD Return | +13.63% | +13.68% | |
| 1Y Return | +24.31% | +21.53% | |
| 3Y Return (annualized) | +23.26% | +21.44% | |
| 5Y Return (annualized) | +9.07% | +13.18% | |
| Volatility (annualized) | 19.7% | 15.3% | |
| Max Drawdown | -58.7% | -56.5% | |
| Fund Family | First Trust Portfolios (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Feb 14, 2012 | Jan 22, 1993 |
FKU vs SPY Performance
First Trust United Kingdom AlphaDEX Fund (FKU) is a ETF from First Trust Portfolios (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year FKU returned +24.31% while SPY returned +21.53%. Year to date, FKU is up 13.63% versus a gain of 13.68% for SPY.
Over three years, FKU compounded at +23.26% per year against +21.44% for SPY; over five years the annualized figures are +9.07% and +13.18% respectively. Across the full 15-year window we track, SPY has the edge at +8.85% annualized vs +5.89%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FKU has been the more volatile fund, with annualized monthly volatility of 19.7% compared with 15.3% for SPY. 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 -58.7% for FKU and -56.5% for SPY. 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 0.77. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FKU charges 0.80% per year while SPY charges 0.09%. On a $10,000 position that is $80 vs $9 annually, a gap of $71 per year that compounds over a long holding period. On income, FKU currently yields 2.71% against 1.01% for SPY.
Holdings Overlap
FKU and SPY share 0 holdings out of 579 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, FKU or SPY?
FKU has an expense ratio of 0.80% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $71 per year of difference.
Which performed better, FKU or SPY?
Over the past year FKU returned +24.31% vs +21.53% for SPY, so FKU leads on 1-year performance. Over the longest common window we track (15 years), FKU annualized +5.89% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, FKU or SPY?
FKU has been the more volatile fund at 19.7% annualized versus 15.3% for SPY. Worst drawdown: FKU -58.7% vs SPY -56.5%.
Should I hold both FKU and SPY?
FKU and SPY have a monthly-return correlation of 0.77, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FKU and SPY?
FKU and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 579 unique securities.
Which pays a higher dividend, FKU or SPY?
FKU yields 2.71% while SPY yields 1.01%, so FKU currently pays the higher dividend yield.
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