FNK vs IVV
First Trust Mid Cap Value AlphaDEX Fund vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | FNK | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.74% | 0.03% | |
| AUM | $233M | $907.0B | |
| Dividend Yield | 1.43% | 1.10% | |
| Holdings | 226 | 508 | |
| YTD Return | +15.49% | +12.28% | |
| 1Y Return | +20.92% | +20.94% | |
| 3Y Return (annualized) | +13.59% | +21.81% | |
| 5Y Return (annualized) | +9.32% | +13.05% | |
| Volatility (annualized) | 20.4% | 15.1% | |
| Max Drawdown | -52.1% | -56.5% | |
| Fund Family | First Trust Portfolios (US) | iShares by BlackRock (US) | |
| Category | Equity | Equity | |
| Inception | Apr 19, 2011 | May 15, 2000 |
FNK vs IVV Performance
First Trust Mid Cap Value AlphaDEX Fund (FNK) 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 FNK returned +20.92% while IVV returned +20.94%. Year to date, FNK is up 15.49% versus a gain of 12.28% for IVV.
Over three years, FNK compounded at +13.59% per year against +21.81% for IVV; over five years the annualized figures are +9.32% and +13.05% respectively. Across the full 15-year window we track, FNK has the edge at +8.44% annualized vs +6.98%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FNK has been the more volatile fund, with annualized monthly volatility of 20.4% 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 -52.1% for FNK 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 0.83. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FNK charges 0.74% per year while IVV charges 0.03%. On a $10,000 position that is $74 vs $3 annually, a gap of $71 per year that compounds over a long holding period. On income, FNK currently yields 1.43% against 1.10% for IVV.
Holdings Overlap
FNK and IVV share 28 holdings out of 702 unique holdings combined, representing a 0.5% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, FNK or IVV?
FNK has an expense ratio of 0.74% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $71 per year of difference.
Which performed better, FNK or IVV?
Over the past year FNK returned +20.92% vs +20.94% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (15 years), FNK annualized +8.44% vs +6.98% for IVV. Past performance does not guarantee future results.
Which is riskier, FNK or IVV?
FNK has been the more volatile fund at 20.4% annualized versus 15.1% for IVV. Worst drawdown: FNK -52.1% vs IVV -56.5%.
Should I hold both FNK and IVV?
FNK and IVV have a monthly-return correlation of 0.83, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FNK and IVV?
FNK and IVV share 28 common holdings with a 0.5% weight overlap. Combined, they hold 702 unique securities.
Which pays a higher dividend, FNK or IVV?
FNK yields 1.43% while IVV yields 1.10%, so FNK currently pays the higher dividend yield.
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