FYT vs SPY
First Trust Small Cap Value AlphaDEX Fund vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. FYT delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | FYT | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.70% | 0.09% | |
| AUM | $202M | $821.1B | |
| Dividend Yield | 1.43% | 1.01% | |
| Holdings | 263 | 505 | |
| YTD Return | +28.23% | +13.17% | |
| 1Y Return | +35.62% | +21.53% | |
| 3Y Return (annualized) | +16.37% | +22.06% | |
| 5Y Return (annualized) | +9.74% | +13.35% | |
| Volatility (annualized) | 22.4% | 15.3% | |
| Max Drawdown | -51.7% | -56.5% | |
| Fund Family | First Trust Portfolios (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Apr 19, 2011 | Jan 22, 1993 |
FYT vs SPY Performance
First Trust Small Cap Value AlphaDEX Fund (FYT) 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 FYT returned +35.62% while SPY returned +21.53%. Year to date, FYT is up 28.23% versus a gain of 13.17% for SPY.
Over three years, FYT compounded at +16.37% per year against +22.06% for SPY; over five years the annualized figures are +9.74% and +13.35% respectively. Across the full 15-year window we track, FYT has the edge at +9.27% annualized vs +8.82%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FYT has been the more volatile fund, with annualized monthly volatility of 22.4% 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 -51.7% for FYT 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 0.79. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FYT charges 0.70% per year while SPY charges 0.09%. On a $10,000 position that is $70 vs $9 annually, a gap of $61 per year that compounds over a long holding period. On income, FYT currently yields 1.43% against 1.01% for SPY.
Holdings Overlap
FYT and SPY share 0 holdings out of 764 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, FYT or SPY?
FYT has an expense ratio of 0.70% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $61 per year of difference.
Which performed better, FYT or SPY?
Over the past year FYT returned +35.62% vs +21.53% for SPY, so FYT leads on 1-year performance. Over the longest common window we track (15 years), FYT annualized +9.27% vs +8.82% for SPY. Past performance does not guarantee future results.
Which is riskier, FYT or SPY?
FYT has been the more volatile fund at 22.4% annualized versus 15.3% for SPY. Worst drawdown: FYT -51.7% vs SPY -56.5%.
Should I hold both FYT and SPY?
FYT and SPY have a monthly-return correlation of 0.79, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FYT and SPY?
FYT and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 764 unique securities.
Which pays a higher dividend, FYT or SPY?
FYT yields 1.43% while SPY yields 1.01%, so FYT currently pays the higher dividend yield.
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