FXD vs SPY
First Trust Consumer Discretionary AlphaDEX Fund vs State Street SPDR S&P 500 ETF Trust
Which is better, FXD or SPY?
Mid Cap Blend against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. FXD is less concentrated, with 16.1% of the fund in its ten largest positions against 38.0%.
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 | FXD | SPY |
|---|---|---|
| Expense Ratio | 0.60% | 0.09%Best |
| AUM | $267M | $814.4B |
| Dividend Yield | 0.60% | 1.01% |
| Holdings | 226 | 505 |
| YTD Return | -2.58% | +12.71%Best |
| 1Y Return | -4.05% | +19.36%Best |
| 3Y Return (annualized) | +8.86% | +21.09%Best |
| 5Y Return (annualized) | +2.90% | +12.69%Best |
| Volatility (annualized) | 22.3% | 15.5%Best |
| Max Drawdown | -65.7% | -56.5%Best |
| $10,000 over 5 years | $11,537 | $18,173Best |
| Top 10 Weight | 16.1%Best | 38.0% |
| Fund Family | First Trust Portfolios (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Mid Cap Blend | Large Cap Blend |
| Inception | May 8, 2007 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: May 10, 2007 to Sep 8, 2026 (19.3 years).
FXD vs SPY 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 19.3 years both funds cover.
FXD vs SPY Performance
First Trust Consumer Discretionary AlphaDEX Fund (FXD) is an ETF from First Trust Portfolios (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year FXD returned -4.05% while SPY returned +19.36%. Year to date, FXD is down 2.58% versus a gain of 12.71% for SPY.
Over three years, FXD compounded at +8.86% per year against +21.09% for SPY; over five years the annualized figures are +2.90% and +12.69% respectively. Across the full 19-year window we track, SPY has the edge at +9.23% annualized vs +6.69%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FXD has been the more volatile fund, with annualized monthly volatility of 22.3% compared with 15.5% 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 -65.7% for FXD and -56.5% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.88. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FXD charges 0.60% per year while SPY charges 0.09%. On a $10,000 position that is $60 vs $9 annually, a gap of $51 per year that compounds over a long holding period. On income, FXD currently yields 0.60% against 1.01% for SPY.
Holdings Overlap
40.3% of FXD's money is in holdings SPY also owns. 8.7% of SPY's money is in holdings FXD also owns.
The two portfolios partly overlap.
49 positions in common, counted across the 112 positions we hold weights for in FXD and 503 in SPY, against full books of 226 and 505.
What only one of them owns
Our book lists 445 positions for SPY that do not appear in our book for FXD (90.8% of the fund), and 60 for FXD that do not appear in SPY (58.4%).
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 FXD | Weight in SPY | Difference |
|---|---|---|---|
| AMZNAmazon.Com Inc | 0.67% | 4.08% | 3.41% |
| FOXAFox Corporation | 1.64% | 0.01% | 1.63% |
| LULU:CALululemon Athlca | 1.58% | 0.02% | 1.56% |
| DALDelta Air Lines Inc. | 1.45% | 0.09% | 1.36% |
| UALUnited Airlines Holdings, Inc. | 1.43% | 0.06% | 1.37% |
| DISWalt Disney Co/Thecommon Stock | 1.23% | 0.26% | 0.97% |
| GMGeneral Motors Co | 1.35% | 0.12% | 1.23% |
| PHMPultegroup Inc. | 1.42% | 0.04% | 1.38% |
| LUVSouthwest Airlines Co. | 1.39% | 0.04% | 1.35% |
| CCLCarnival Corporation Common Stock | 1.21% | 0.06% | 1.15% |
40.3% of FXD is already inside SPY.
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, FXD or SPY?
FXD has an expense ratio of 0.60% while SPY charges 0.09%. SPY is the cheaper option, by $51 a year on a $10,000 investment.
Which performed better, FXD or SPY?
Over the past year FXD returned -4.05% vs +19.36% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (19 years), FXD annualized +6.69% vs +9.23% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FXD or SPY?
FXD has been the more volatile fund at 22.3% annualized versus 15.5% for SPY. Worst drawdown: FXD -65.7% vs SPY -56.5%.
Should I hold both FXD and SPY?
FXD and SPY have a monthly-return correlation of 0.88, 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 FXD and SPY?
40.3% of FXD's money is in holdings SPY also owns. 8.7% of SPY's is in holdings FXD also owns. They hold 49 positions in common, counted across the 112 positions we hold weights for in FXD and 503 in SPY.
Which pays a higher dividend, FXD or SPY?
FXD yields 0.60% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
Is SPY better than FXD?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. FXD is less concentrated, with 16.1% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.