FXN vs SPY
First Trust Energy AlphaDEX Fund vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. FXN delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | FXN | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.63% | 0.09% | |
| AUM | $372M | $789.1B | |
| Dividend Yield | 1.83% | 1.01% | |
| Holdings | 38 | 505 | |
| YTD Return | +34.98% | +14.47% | |
| 1Y Return | +48.21% | +21.96% | |
| 3Y Return (annualized) | +11.10% | +21.70% | |
| 5Y Return (annualized) | +19.78% | +13.30% | |
| Volatility (annualized) | 34.8% | 15.3% | |
| Max Drawdown | -88.6% | -56.5% | |
| Fund Family | First Trust Portfolios (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | May 8, 2007 | Jan 22, 1993 |
FXN vs SPY Performance
First Trust Energy AlphaDEX Fund (FXN) 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 FXN returned +48.21% while SPY returned +21.96%. Year to date, FXN is up 34.98% versus a gain of 14.47% for SPY.
Over three years, FXN compounded at +11.10% per year against +21.70% for SPY; over five years the annualized figures are +19.78% and +13.30% respectively. Across the full 19-year window we track, SPY has the edge at +8.87% annualized vs +1.33%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FXN has been the more volatile fund, with annualized monthly volatility of 34.8% 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 -88.6% for FXN 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 0.64. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
FXN charges 0.63% per year while SPY charges 0.09%. On a $10,000 position that is $63 vs $9 annually, a gap of $54 per year that compounds over a long holding period. On income, FXN currently yields 1.83% against 1.01% for SPY.
Holdings Overlap
FXN and SPY share 22 holdings out of 520 unique holdings combined, representing a 3.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, FXN or SPY?
FXN has an expense ratio of 0.63% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $54 per year of difference.
Which performed better, FXN or SPY?
Over the past year FXN returned +48.21% vs +21.96% for SPY, so FXN leads on 1-year performance. Over the longest common window we track (19 years), FXN annualized +1.33% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, FXN or SPY?
FXN has been the more volatile fund at 34.8% annualized versus 15.3% for SPY. Worst drawdown: FXN -88.6% vs SPY -56.5%.
Should I hold both FXN and SPY?
FXN and SPY have a monthly-return correlation of 0.64, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FXN and SPY?
FXN and SPY share 22 common holdings with a 3.0% weight overlap. Combined, they hold 520 unique securities.
Which pays a higher dividend, FXN or SPY?
FXN yields 1.83% while SPY yields 1.01%, so FXN currently pays the higher dividend yield.
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