FXZ vs SPY
First Trust Materials AlphaDEX Fund vs State Street SPDR S&P 500 ETF Trust
Which is better, FXZ or SPY?
Mid Cap Value against Large Cap Blend.
SPY has a lower expense ratio. FXZ led over 1Y, SPY over 3Y, 5Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 46.1%.
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 | FXZ | SPY |
|---|---|---|
| Expense Ratio | 0.64% | 0.09%Best |
| AUM | $393M | $804.7B |
| Dividend Yield | 1.27% | 0.98% |
| Holdings | 80 | 505 |
| YTD Return | +29.97%Best | +12.19% |
| 1Y Return | +42.74%Best | +18.53% |
| 3Y Return (annualized) | +12.03% | +20.88%Best |
| 5Y Return (annualized) | +10.24% | +12.69%Best |
| Volatility (annualized) | 24.6% | 15.5%Best |
| Max Drawdown | -66.0% | -56.5%Best |
| $10,000 over 5 years | $16,282 | $18,173Best |
| Top 10 Weight | 46.1% | 38.0%Best |
| Fund Family | First Trust Portfolios (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Mid Cap Value | 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 9, 2026 (19.3 years).
FXZ 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.
FXZ vs SPY Performance
First Trust Materials AlphaDEX Fund (FXZ) 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 FXZ returned +42.74% while SPY returned +18.53%. Year to date, FXZ is up 29.97% versus a gain of 12.19% for SPY.
Over three years, FXZ compounded at +12.03% per year against +20.88% for SPY; over five years the annualized figures are +10.24% and +12.69% respectively. Across the full 19-year window we track, SPY has the edge at +9.21% annualized vs +8.35%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FXZ has been the more volatile fund, with annualized monthly volatility of 24.6% 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 -66.0% for FXZ 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 0.83. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FXZ charges 0.64% per year while SPY charges 0.09%. On a $10,000 position that is $64 vs $9 annually, a gap of $55 per year that compounds over a long holding period. On income, FXZ currently yields 1.27% against 0.98% for SPY.
Holdings Overlap
35.9% of FXZ's money is in holdings SPY also owns. 1.1% of SPY's money is in holdings FXZ also owns.
The two portfolios partly overlap.
13 positions in common, counted across the 39 positions we hold weights for in FXZ and 504 in SPY, against full books of 80 and 505.
What only one of them owns
Our book lists 481 positions for SPY that do not appear in our book for FXZ (98.4% of the fund), and 23 for FXZ that do not appear in SPY (49.9%).
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 FXZ | Weight in SPY | Difference |
|---|---|---|---|
| NEMNewmont Corp. | 5.89% | 0.16% | 5.73% |
| CFCf Industries Holdings Inc. | 5.23% | 0.03% | 5.20% |
| STLDSteel Dynamics Inc | 4.42% | 0.05% | 4.37% |
| NUENucor Corp. | 3.42% | 0.09% | 3.33% |
| MOSMosaic Co. | 3.48% | 0.01% | 3.47% |
| IFFInternational Flavors & Fragrances Inc. | 3.33% | 0.03% | 3.30% |
| AVYAvery Dennison Corp. | 2.46% | 0.02% | 2.44% |
| LINLinde Plc Ordinary Shares | 1.44% | 0.34% | 1.10% |
| APDAir Products & Chemicals In | 1.61% | 0.10% | 1.51% |
| FASTFastenal Co. | 1.57% | 0.09% | 1.48% |
35.9% of FXZ 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, FXZ or SPY?
FXZ has an expense ratio of 0.64% while SPY charges 0.09%. SPY is the cheaper option, by $55 a year on a $10,000 investment.
Which performed better, FXZ or SPY?
Over the past year FXZ returned +42.74% vs +18.53% for SPY, so FXZ leads on 1-year performance. Over the longest common window we track (19 years), FXZ annualized +8.35% vs +9.21% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FXZ or SPY?
FXZ has been the more volatile fund at 24.6% annualized versus 15.5% for SPY. Worst drawdown: FXZ -66.0% vs SPY -56.5%.
Should I hold both FXZ and SPY?
FXZ and SPY 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 FXZ and SPY?
35.9% of FXZ's money is in holdings SPY also owns. 1.1% of SPY's is in holdings FXZ also owns. They hold 13 positions in common, counted across the 39 positions we hold weights for in FXZ and 504 in SPY.
Which pays a higher dividend, FXZ or SPY?
FXZ yields 1.27% while SPY yields 0.98%, so FXZ currently pays the higher dividend yield.
Is SPY better than FXZ?
SPY has a lower expense ratio. FXZ led over 1Y, SPY over 3Y, 5Y and the full window. SPY is less concentrated, with 38.0% of the fund in its ten largest positions against 46.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.