FSZ vs SPY
First Trust Switzerland AlphaDEX Fund vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | FSZ | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.80% | 0.09% | |
| AUM | $37M | $821.1B | |
| Dividend Yield | 2.01% | 1.01% | |
| Holdings | 42 | 505 | |
| YTD Return | +3.46% | +12.93% | |
| 1Y Return | +6.81% | +20.62% | |
| 3Y Return (annualized) | +12.85% | +22.00% | |
| 5Y Return (annualized) | +5.65% | +13.33% | |
| Volatility (annualized) | 15.3% | 15.3% | |
| Max Drawdown | -35.4% | -56.5% | |
| Fund Family | First Trust Portfolios (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Feb 14, 2012 | Jan 22, 1993 |
FSZ vs SPY Performance
First Trust Switzerland AlphaDEX Fund (FSZ) 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 FSZ returned +6.81% while SPY returned +20.62%. Year to date, FSZ is up 3.46% versus a gain of 12.93% for SPY.
Over three years, FSZ compounded at +12.85% per year against +22.00% for SPY; over five years the annualized figures are +5.65% and +13.33% respectively. Across the full 15-year window we track, SPY has the edge at +8.82% annualized vs +8.04%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FSZ has been the more volatile fund, with annualized monthly volatility of 15.3% 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 -35.4% for FSZ 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
FSZ 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, FSZ currently yields 2.01% against 1.01% for SPY.
Holdings Overlap
FSZ and SPY share 0 holdings out of 544 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, FSZ or SPY?
FSZ 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, FSZ or SPY?
Over the past year FSZ returned +6.81% vs +20.62% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (15 years), FSZ annualized +8.04% vs +8.82% for SPY. Past performance does not guarantee future results.
Which is riskier, FSZ or SPY?
FSZ has been the more volatile fund at 15.3% annualized versus 15.3% for SPY. Worst drawdown: FSZ -35.4% vs SPY -56.5%.
Should I hold both FSZ and SPY?
FSZ 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 FSZ and SPY?
FSZ and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 544 unique securities.
Which pays a higher dividend, FSZ or SPY?
FSZ yields 2.01% while SPY yields 1.01%, so FSZ currently pays the higher dividend yield.
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