FNK vs IVV
First Trust Mid Cap Value AlphaDEX Fund vs iShares Core S&P 500 ETF
Which is better, FNK or IVV?
Mid Cap Value against Large Cap Blend.
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. FNK is less concentrated, with 9.3% 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 | FNK | IVV |
|---|---|---|
| Expense Ratio | 0.74% | 0.03%Best |
| AUM | $231M | $876.4B |
| Dividend Yield | 1.41% | 1.06% |
| Holdings | 452 | 508 |
| YTD Return | +13.32%Best | +11.57% |
| 1Y Return | +15.27% | +17.57%Best |
| 3Y Return (annualized) | +13.33% | +20.71%Best |
| 5Y Return (annualized) | +9.07% | +12.80%Best |
| Volatility (annualized) | 20.4% | 14.3%Best |
| Max Drawdown | -52.1% | -33.9%Best |
| $10,000 over 5 years | $15,436 | $18,262Best |
| Top 10 Weight | 9.3%Best | 37.9% |
| Fund Family | First Trust Portfolios (US) | iShares by BlackRock (US) |
| Category | Equity | Equity |
| Style | Mid Cap Value | Large Cap Blend |
| Inception | Apr 19, 2011 | May 15, 2000 |
Volatility and max drawdown are measured over the window both funds cover: Apr 20, 2011 to Sep 10, 2026 (15.4 years).
FNK 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 15.4 years both funds cover.
FNK vs IVV Performance
First Trust Mid Cap Value AlphaDEX Fund (FNK) 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 FNK returned +15.27% while IVV returned +17.57%. Year to date, FNK is up 13.32% versus a gain of 11.57% for IVV.
Over three years, FNK compounded at +13.33% per year against +20.71% for IVV; over five years the annualized figures are +9.07% and +12.80% respectively. Across the full 15-year window we track, IVV has the edge at +12.53% annualized vs +8.28%.
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 14.3% 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 -33.9% 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 0.83. 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 1.41% against 1.06% for IVV.
Holdings Overlap
10.9% of FNK's money is in holdings IVV also owns. 0.5% of IVV's money is in holdings FNK also owns.
FNK and IVV share little of their money.
28 positions in common, counted across the 225 positions we hold weights for in FNK and 505 in IVV, against full books of 452 and 508.
What only one of them owns
Our book lists 467 positions for IVV that do not appear in our book for FNK (98.8% of the fund), and 191 for FNK that do not appear in IVV (84.9%).
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 FNK | Weight in IVV | Difference |
|---|---|---|---|
| APAApa Corp | 0.93% | 0.02% | 0.91% |
| CFCf Industries Holdings Inc. | 0.84% | 0.03% | 0.81% |
| UHSUniversal Health Services Inc. | 0.80% | 0.01% | 0.79% |
| EGEverest Group, Ltd. | 0.73% | 0.02% | 0.71% |
| SOLVSolventum Corp | 0.66% | 0.02% | 0.64% |
| ITGartner Inc. | 0.64% | 0.02% | 0.62% |
| MOSMosaic Co. | 0.64% | 0.01% | 0.63% |
| FDSFactset Research Systems Inc. | 0.57% | 0.02% | 0.55% |
| HSTHost Hotels & Resorts Inc | 0.52% | 0.02% | 0.50% |
| VTRSViatris Inc. | 0.44% | 0.03% | 0.41% |
You are not choosing between two funds in isolation.
Whichever of FNK and IVV you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
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, by $71 a year on a $10,000 investment.
Which performed better, FNK or IVV?
Over the past year FNK returned +15.27% vs +17.57% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (15 years), FNK annualized +8.28% vs +12.53% for IVV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FNK or IVV?
FNK has been the more volatile fund at 20.4% annualized versus 14.3% for IVV. Worst drawdown: FNK -52.1% vs IVV -33.9%.
Should I hold both FNK and IVV?
FNK and IVV have a monthly-return correlation of 0.83, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between FNK and IVV?
10.9% of FNK's money is in holdings IVV also owns. 0.5% of IVV's is in holdings FNK also owns. They hold 28 positions in common, counted across the 225 positions we hold weights for in FNK and 505 in IVV.
Which pays a higher dividend, FNK or IVV?
FNK yields 1.41% while IVV yields 1.06%, so FNK currently pays the higher dividend yield.
Is IVV better than FNK?
IVV has a lower expense ratio. IVV led over 1Y, 3Y, 5Y and the full window. FNK is less concentrated, with 9.3% 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.