FXO vs VFH: Grades, Fees and Holdings Compared

First Trust Financials AlphaDEX Fund

FXOBNYSE Arca

Vanguard Financials ETF

VFHBNYSE Arca

Overlap

25.6%by weight

Expense ratio

VFH −0.51pt a year

FXO0.60%VFH0.09%

Avg volume · 30D

VFH 10.1×the volume

FXO58.7KVFH592K

10Y return · a year

FXO +0.3pt

FXO+12.9%VFH+12.6%

FXO vs VFH Performance

Nov 9, 2021 – Nov 9, 2026

+55.1%FXO+55.7%VFH

Expense ratio: FXO 0.60%; VFH 0.09%, better
Fund size: FXO $1.07B; VFH $12.7B
1Y total return: FXO +16.0%, better; VFH +11.4%
Yield (12M): FXO 2.13%, better; VFH 1.67%
Holdings: FXO 106; VFH 432
Avg volume (30D): FXO 58.7K sh; VFH 592K sh, better
NAV per share: FXO $64.72; VFH $138.57
52W range

ETF.net Grade

Pillar letters and Scores for FXO, VFH, with each pillar’s weight
Pillar	FXO	VFH
Cost30% weight	F15	A88Higher
Mission25% weight	A99	Not scored
Risk15% weight	B63Higher	C53
Tradability15% weight	C53	B55Higher
Holdings10% weight	A85Higher	C54
Durability5% weight	C49	A80Higher

Rank among Financials (Broad) funds

How we build Categories ›

Same Category. FXO and VFH are both graded against the same 18 Financials (Broad) funds, so their Grades compare head to head.

Financials (Broad)⁠

Category · 18 funds

See all 18 ›

VFH ranks 4th and FXO 10th of 18 funds in the Financials (Broad) Category.

Rank 1AXLFState Street Financial Select Sector SPDR ETFScore 82
Rank 2AFNCLFidelity MSCI Financials Index ETFScore 73
Rank 2AKIEState Street SPDR S&P Insurance ETFScore 73
Rank 4BVFHVanguard Financials ETFScore 69
Rank 5BIYFiShares U.S. Financials ETFScore 66
Rank 9BIAKiShares U.S. Insurance ETFScore 58
Rank 10BFXOFirst Trust Financials AlphaDEX FundScore 57
Rank 11CRSPFInvesco S&P 500 Equal Weight Financials ETFScore 54

Our read on each fund

ETF.net Research

FXOBFirst Trust Financials AlphaDEX Fund

VFHBVanguard Financials ETF

In short

FXO No data

VFH Financials without the size filter. VFH holds roughly 400 US financial stocks, from the megabanks down to small regional lenders and insurers, for 0.09% a year.

Stated mandate

FXO No data

VFH VFH seeks to track the MSCI US Investable Market Index (IMI)/Financials 25/50, providing passively managed, multicapitalization exposure to U.S. financial-sector equities.

Why people hold it

FXO No data

VFH Owns the whole sector, not just the giants: roughly 400 US financial names through MSCI's US IMI Financials 25/50 index, megabanks through small regional lenders and insurers.vanguard.com
Costs 0.09% a year, a fraction of what the typical broad financials fund charges.vanguard.com
Running since 2004, now a multi-billion-dollar fund that trades actively, and it has stayed close to its index. One of the strongest implementations in the financials group.
Pays out quarterly, passively managed, no manager stock-picking inside the sector.

Worth knowing

FXO No data

VFH One sector, one storyline: banks, insurers and brokers tend to move together with interest rates and the credit cycle.
The multicap reach cuts both ways. Small regional banks and niche insurers ride along with the megacaps, and they can swing harder.
Cost isn't the edge here: XLF and FNCL sit at essentially the same fee. Breadth of coverage is the real differentiator.

Full FXO profile⁠

Full VFH profile⁠

FXO vs VFH Holdings

How FXO and VFH differ

Overlap by weight

25.6%

Shared holdings make up 95.6% of FXO and 45.7% of VFH.

Level by level

Holdings99 in both25.6%
Sector7 Sectors96.0%
Countryby domicile98.8%
Asset classStocks100%

Sector

Sector weights in FXO and VFH, widest gap first
Sector	Gap	FXO	VFH
Financials	VFH +3.6 points	93.5%	97.1%
Real Estate	FXO +3.4 points	4.0%	0.6%
Technology	FXO +0.7 points	2.5%	1.9%
Industrials	VFH +0.3 points	0.0%	0.3%
Health Care	VFH +0.1 points	0.0%	0.1%
Consumer Discretionary	Same weight	0.0%	0.0%
Communication	Same weight	0.0%	0.0%

Country, concentration and asset class

Country by domicile

Country weights in FXO and VFH, widest gap first
Country	Gap	FXO	VFH
United States	VFH +1.2 points	98.8%	100.0%
Switzerland	FXO +1.0 points	1.0%	0.0%
Brazil	FXO +0.2 points	0.2%	0.0%

Concentration

Weight in the 10 largest Holdings

FXO17.8%
VFH48.3%

Securities held

FXO105
VFH430

Asset class

FXO: Stocks
VFH: Stocks

Holdings

Only in FXO6
In both99
Only in VFH331

Only in FXO

6 securities, 4.2% of FXO by weight

Central Bancompany, Inc.1.44%
CNA Financial Corporation1.26%
Broadridge Financial Solutions, Inc.0.70%
Freedom Holding Corp.0.63%
XP Inc. (Class A)0.21%
Uwm Holdings Corp-Rt W/I<0.01%

Only in VFH

331 securities, 53.8% of VFH by weight

JPMorgan Chase & Co10.42%
Visa Inc7.07%
Mastercard Inc5.30%
Goldman Sachs Group Inc/The2.94%
Morgan Stanley2.63%
American Express Co1.91%
Blackrock Inc1.85%
Capital One Financial Corp1.34%
CME Group Inc1.12%
Intercontinental Exchange Inc1.02%
Blackstone Inc0.99%
Marsh & McLennan Cos Inc0.97%
Moody's Corp0.80%
Arthur J Gallagher & Co0.69%
KKR & Co Inc0.68%
MetLife Inc0.61%
Apollo Global Management Inc0.57%
Fifth Third Bancorp0.54%
Nasdaq Inc0.49%
Coinbase Global Inc0.47%
MSCI Inc0.45%
Block Inc0.45%
PayPal Holdings Inc0.33%
Principal Financial Group Inc0.29%
Corpay Inc0.29%
Fiserv Inc0.29%
Synchrony Financial0.28%
SoFi Technologies Inc0.24%
Affirm Holdings Inc0.23%
Global Payments Inc0.23%
Fidelity National Information Services Inc0.20%
TRS:PAYPAL HOLDINGS INC USD 2027-Aug-310.19%
Toast Inc0.17%
Equitable Holdings Inc0.17%
TRS:GOLDMAN SACHS GROUP INC USD 2027-Aug-310.16%
SLBBH11420.14%
Invesco Ltd0.13%
Rocket Cos Inc0.12%
Carlyle Group Inc/The0.12%
Jack Henry & Associates Inc0.12%
UMB Financial Corp0.11%
Cullen/Frost Bankers Inc0.11%
Voya Financial Inc0.10%
FirstCash Holdings Inc0.10%
Old National Bancorp/IN0.10%
Jackson Financial Inc0.10%
Oscar Health Inc0.09%
StoneX Group Inc0.08%
United Bankshares Inc/WV0.08%
TPG Inc0.07%

Weight gaps

All 99 Holdings in both funds, largest gap first.

Holding weights in FXO and VFH, widest gap first
Holding	Gap	FXO	VFH
Berkshire Hathaway Inc. (Class B)BRK.B	VFH +6.53 points	1.79%	8.32%
Bank of America CorporationBAC	VFH +3.65 points	0.54%	4.19%
Wells Fargo & CompanyWFC	VFH +2.25 points	0.62%	2.87%
Chime Financial, Inc. (Class A)CHYM	FXO +1.80 points	1.84%	0.04%
Citigroup Inc.C	VFH +1.78 points	0.82%	2.60%
White Mountains Insurance Group Ltd.WTM	FXO +1.69 points	1.75%	0.06%
Axis Capital Holdings LimitedAXS	FXO +1.68 points	1.76%	0.08%
MGIC Investment CorporationMTG	FXO +1.67 points	1.73%	0.06%
Bank OZKOZK	FXO +1.66 points	1.72%	0.06%
Assured Guaranty Ltd.AGO	FXO +1.67 points	1.70%	0.03%
First American Financial CorporationFAF	FXO +1.66 points	1.73%	0.07%
The Charles Schwab CorporationSCHW	VFH +1.63 points	0.28%	1.91%
Everest Group, Ltd.EG	FXO +1.59 points	1.76%	0.17%
Old Republic International CorporationORI	FXO +1.56 points	1.66%	0.10%
RenaissanceRe Holdings Ltd.RNR	FXO +1.55 points	1.71%	0.16%
Cincinnati Financial CorporationCINF	FXO +1.53 points	1.82%	0.29%
Markel Group IncMKL	FXO +1.52 points	1.77%	0.25%
Arch Capital Group Ltd.ACGL	FXO +1.45 points	1.82%	0.37%
AGNC Investment Corp.AGNC	FXO +1.39 points	1.51%	0.12%
Annaly Capital Management, Inc.NLY	FXO +1.39 points	1.55%	0.16%
T. Rowe Price Group, Inc.TROW	FXO +1.37 points	1.63%	0.26%
The Hartford Insurance Group, Inc.HIG	FXO +1.31 points	1.71%	0.40%
The Hanover Insurance Group, Inc.THG	FXO +1.26 points	1.35%	0.09%
Columbia Banking System, Inc.COLB	FXO +1.17 points	1.27%	0.10%
American International Group, Inc.AIG	FXO +1.16 points	1.63%	0.47%
F.N.B. CorporationFNB	FXO +1.16 points	1.23%	0.07%
Jefferies Financial Group Inc.JEF	FXO +1.15 points	1.23%	0.08%
SouthState Bank CorporationSSB	FXO +1.13 points	1.25%	0.12%
OneMain Holdings, Inc.OMF	FXO +1.12 points	1.20%	0.08%
The Allstate CorporationALL	FXO +1.12 points	1.80%	0.68%
Zions Bancorporation, National AssociationZION	FXO +1.12 points	1.23%	0.11%
Lincoln National CorporationLNC	FXO +1.11 points	1.19%	0.08%
Western Alliance BancorporationWAL	FXO +1.10 points	1.19%	0.09%
Ally Financial Inc.ALLY	FXO +1.08 points	1.20%	0.12%
Affiliated Managers Group, Inc.AMG	FXO +1.07 points	1.18%	0.11%
S&P Global Inc.SPGI	VFH +1.07 points	0.35%	1.42%
RLI Corp.RLI	FXO +1.04 points	1.10%	0.06%
Loews CorporationL	FXO +1.04 points	1.25%	0.21%
Kinsale Capital Group, Inc.KNSL	FXO +0.98 points	1.06%	0.08%
FactSet Research Systems Inc.FDS	FXO +0.97 points	1.08%	0.11%
Fidelity National Financial, Inc.FNF	FXO +0.90 points	1.01%	0.11%
BOK Financial CorporationBOKF	FXO +0.88 points	0.91%	0.03%
Prosperity Bancshares, Inc.PB	FXO +0.88 points	0.97%	0.09%
Hamilton Lane Incorporated (Class A)HLNE	FXO +0.88 points	0.92%	0.04%
Evercore Inc.EVR	FXO +0.87 points	0.98%	0.11%
First Hawaiian, Inc.FHB	FXO +0.86 points	0.90%	0.04%
LPL Financial Holdings Inc.LPLA	FXO +0.86 points	1.15%	0.29%
Rithm Capital Corp.RITM	FXO +0.86 points	0.92%	0.06%
SLM CorporationSLM	FXO +0.84 points	0.89%	0.05%
M&T Bank CorporationMTB	FXO +0.82 points	1.19%	0.37%
First Citizens BancShares, Inc. (Class A)FCNCA	FXO +0.80 points	0.98%	0.18%
SEI Investments CompanySEIC	FXO +0.79 points	0.91%	0.12%
Pinnacle Financial Partners, Inc.PNFP	FXO +0.79 points	0.96%	0.17%
First Horizon CorporationFHN	FXO +0.76 points	0.89%	0.13%
Morningstar, Inc.MORN	FXO +0.72 points	0.76%	0.04%
Ryan Specialty Holdings, Inc. (Class A)RYAN	FXO +0.72 points	0.77%	0.05%
Globe Life Inc.GL	FXO +0.69 points	0.84%	0.15%
Regions Financial CorporationRF	FXO +0.67 points	0.94%	0.27%
Interactive Brokers Group, Inc. (Class A)IBKR	FXO +0.63 points	1.06%	0.43%
Truist Financial CorporationTFC	FXO +0.60 points	1.27%	0.67%
Robinhood Markets, Inc. (Class A)HOOD	VFH +0.57 points	0.43%	1.00%
Credit Acceptance CorporationCACC	FXO +0.56 points	0.59%	0.03%
The Bank of New York Mellon CorporationBNY	VFH +0.55 points	0.61%	1.16%
Northern Trust CorporationNTRS	FXO +0.56 points	0.91%	0.35%
Assurant, Inc.AIZ	FXO +0.54 points	0.69%	0.15%
Primerica, Inc.PRI	FXO +0.53 points	0.63%	0.10%
Virtu Financial, Inc. (Class A)VIRT	FXO +0.53 points	0.58%	0.05%
Wintrust Financial CorporationWTFC	FXO +0.52 points	0.63%	0.11%
Corebridge Financial, Inc.CRBG	FXO +0.51 points	0.61%	0.10%
Stifel Financial Corp.SF	FXO +0.48 points	0.60%	0.12%
Popular, Inc.BPOP	FXO +0.48 points	0.60%	0.12%
U.S. BancorpUSB	VFH +0.46 points	0.61%	1.07%
The PNC Financial Services Group, Inc.PNC	VFH +0.45 points	0.60%	1.05%
Reinsurance Group of America, IncorporatedRGA	FXO +0.44 points	0.63%	0.19%
The Travelers Companies, Inc.TRV	FXO +0.44 points	1.32%	0.88%
KeyCorpKEY	FXO +0.40 points	0.62%	0.22%
Ameriprise Financial, Inc.AMP	FXO +0.39 points	0.91%	0.52%
Aflac IncorporatedAFL	FXO +0.38 points	0.99%	0.61%
Chubb LimitedCB	VFH +0.35 points	1.00%	1.35%
Aon Plc (Class A)AON	VFH +0.31 points	0.36%	0.67%
State Street CorporationSTT	VFH +0.29 points	0.28%	0.57%
Lazard, Inc. (Class A)LAZ	FXO +0.27 points	0.31%	0.04%
Houlihan Lokey, Inc.HLI	FXO +0.26 points	0.34%	0.08%
Tradeweb Markets Inc. (Class A)TW	FXO +0.24 points	0.38%	0.14%
American Financial Group, Inc.AFG	FXO +0.23 points	0.34%	0.11%
Commerce Bancshares, Inc.CBSH	FXO +0.21 points	0.30%	0.09%
Franklin Templeton, Inc.BEN	FXO +0.20 points	0.31%	0.11%
W.R. Berkley CorporationWRB	FXO +0.16 points	0.33%	0.17%
Prudential Financial, Inc.PRU	FXO +0.15 points	0.62%	0.47%
Brown & Brown, Inc.BRO	FXO +0.14 points	0.35%	0.21%
The Progressive CorporationPGR	VFH +0.13 points	1.31%	1.44%
Unum GroupUNM	FXO +0.11 points	0.26%	0.15%
East West Bancorp, Inc.EWBC	FXO +0.11 points	0.31%	0.20%
Huntington Bancshares IncorporatedHBAN	VFH +0.07 points	0.30%	0.37%
Ares Management Corporation (Class A)ARES	FXO +0.05 points	0.34%	0.29%
Cboe Global Markets, Inc.CBOE	FXO +0.04 points	0.38%	0.34%
Citizens Financial Group, Inc.CFG	VFH +0.03 points	0.29%	0.32%
Willis Towers Watson PlcWTW	FXO +0.02 points	0.34%	0.32%
Raymond James Financial, Inc.RJF	Same weight	0.31%	0.31%

All 105 FXO holdings⁠All 423 VFH holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

FXO vs VFH Cost

Overpaying FXO vs VFH

$9,919

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

FXO 0.60%
$11,817
VFH 0.09%
$1,898

Amount$10,000

Years30 years

Cost over time

FXO 0.60%
VFH 0.09%
Overpaying

Year by year

Year	FXO	VFH	Overpaying
10	$1,076	$165	$911
20	$4,116	$646	$3,470
30	$11,817	$1,898	$9,919

Expense ratio

0.60%FXO
0.09%VFH, cheaper

VFH0.09%FXO0.60%

0.08%5.39%

Middle half of Financials (Broad) funds
Median 0.37%

VFH 3rd cheapest of 18 funds

FXO 15th cheapest of 18 funds

FXO vs VFH Dividends

Last 12 months to Nov 9, 2026

Yield (12M): FXO 2.13%, better; VFH 1.67%
Payout (12M): FXO $1.40; VFH $2.35
Last payment: FXO $0.33; VFH $0.45
Ex-dividend: FXO Sep 24, 2026; VFH Sep 23, 2026
Paid on: FXO Sep 30, 2026; VFH Sep 25, 2026
Frequency: FXO Quarterly; VFH Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

FXOQuarterly · 39 paymentsAll FXO payments⁠

VFHQuarterly · 39 paymentsAll VFH payments⁠

FXO vs VFH Risk

Fall from peak · 5 years

Risk facts

VolatilityStd dev, 3 years: FXO 17.3%VFH 15.9%, better
Return per unit of riskSharpe ratio, 3 years: FXO 1.07VFH 1.11, better
Worst fallMax drawdown, 5 years: FXO −28.8%VFH −25.7%, better
Market sensitivityBeta, 5 years: FXO 0.95VFH 0.88; Market = 1

FXO and VFH in the news

All news⁠

Deep Dive
Bank earnings week will miss most of what a financials fund owns
Oct 12, 2026FXOVFH

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FXO vs VFH

In short

Stated mandate

Why people hold it

Worth knowing

How FXO and VFH differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FXO

Only in VFH

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Bank earnings week will miss most of what a financials fund owns

How FXO and VFH differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in FXO

Only in VFH

Weight gaps