FXH vs SPY
First Trust Health Care AlphaDEX Fund vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. FXH delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | FXH | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.61% | 0.09% | |
| AUM | $1.1B | $821.1B | |
| Dividend Yield | 0.81% | 1.01% | |
| Holdings | 74 | 505 | |
| YTD Return | +17.13% | +12.22% | |
| 1Y Return | +26.05% | +20.83% | |
| 3Y Return (annualized) | +9.88% | +21.70% | |
| 5Y Return (annualized) | +2.08% | +12.98% | |
| Volatility (annualized) | 16.3% | 15.3% | |
| Max Drawdown | -43.7% | -56.5% | |
| Fund Family | First Trust Portfolios (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | May 8, 2007 | Jan 22, 1993 |
FXH vs SPY Performance
First Trust Health Care AlphaDEX Fund (FXH) 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 FXH returned +26.05% while SPY returned +20.83%. Year to date, FXH is up 17.13% versus a gain of 12.22% for SPY.
Over three years, FXH compounded at +9.88% per year against +21.70% for SPY; over five years the annualized figures are +2.08% and +12.98% respectively. Across the full 19-year window we track, FXH has the edge at +10.48% annualized vs +8.79%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FXH has been the more volatile fund, with annualized monthly volatility of 16.3% 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 -43.7% for FXH 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
FXH charges 0.61% per year while SPY charges 0.09%. On a $10,000 position that is $61 vs $9 annually, a gap of $52 per year that compounds over a long holding period. On income, FXH currently yields 0.81% against 1.01% for SPY.
Holdings Overlap
FXH and SPY share 43 holdings out of 534 unique holdings combined, representing a 6.4% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, FXH or SPY?
FXH has an expense ratio of 0.61% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $52 per year of difference.
Which performed better, FXH or SPY?
Over the past year FXH returned +26.05% vs +20.83% for SPY, so FXH leads on 1-year performance. Over the longest common window we track (19 years), FXH annualized +10.48% vs +8.79% for SPY. Past performance does not guarantee future results.
Which is riskier, FXH or SPY?
FXH has been the more volatile fund at 16.3% annualized versus 15.3% for SPY. Worst drawdown: FXH -43.7% vs SPY -56.5%.
Should I hold both FXH and SPY?
FXH 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 FXH and SPY?
FXH and SPY share 43 common holdings with a 6.4% weight overlap. Combined, they hold 534 unique securities.
Which pays a higher dividend, FXH or SPY?
FXH yields 0.81% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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