FYT vs IWD: Grades, Fees and Holdings Compared

First Trust Small Cap Value AlphaDEX Fund

FYTCNasdaq

iShares Russell 1000 Value ETF

IWDANYSE Arca

Overlap

0.2%by weight

Expense ratio

IWD −0.52pt a year

FYT0.70%IWD0.18%

Avg volume · 30D

IWD 120.2×the volume

FYT16.7KIWD2.01M

10Y return · a year

IWD +1.2pt

FYT+10.7%IWD+11.9%

FYT vs IWD Performance

Oct 29, 2021 – Oct 30, 2026

+47.0%FYT+72.9%IWD

Expense ratio: FYT 0.70%; IWD 0.18%, better
Fund size: FYT $178M; IWD $83.2B
1Y total return: FYT +31.3%, better; IWD +28.4%
Yield (12M): FYT 1.84%, better; IWD 1.37%
Holdings: FYT 263; IWD 874
Avg volume (30D): FYT 16.7K sh; IWD 2.01M sh, better
NAV per share: FYT $70.00; IWD $258.68
52W range

ETF.net Grade

Pillar letters and Scores for FYT, IWD, with each pillar’s weight
Pillar	FYT	IWD
Cost30% weight	F5	B59Higher
Mission25% weight	A82	A100Higher
Risk15% weight	D26	A79Higher
Tradability15% weight	C50	A96Higher
Holdings10% weight	A76Higher	C42
Durability5% weight	C52	A82Higher

Rank among US Value Index funds

How we build Categories ›

Same Category. FYT and IWD are both graded against the same 40 US Value Index funds, so their Grades compare head to head.

US Value Index⁠

Category · 40 funds

See all 40 ›

IWD ranks 4th and FYT 34th of 40 funds in the US Value Index Category.

Rank 1ASCHVSchwab U.S. Large-Cap Value ETFScore 84
Rank 2AVTVVanguard Morningstar Value ETFScore 83
Rank 3AIUSViShares Core S&P U.S. Value ETFScore 81
Rank 4AIWDiShares Russell 1000 Value ETFScore 77
Rank 4AVOEVanguard Morningstar Mid-Cap Value ETFScore 77
Rank 32CNIXTResearch Affiliates Deletions ETFScore 45
Rank 34CFYTFirst Trust Small Cap Value AlphaDEX FundScore 43
Rank 34CRZVInvesco S&P SmallCap 600 Pure Value ETFScore 43

Our read on each fund

ETF.net Research

FYTCFirst Trust Small Cap Value AlphaDEX Fund

IWDAiShares Russell 1000 Value ETF

In short

FYT Most value funds just buy the market, cap-weighted. FYT ranks small caps on growth and value factors, hands the top scorers the most weight, and reshuffles quarterly. A quant stock picker in index clothing.

IWD The original Russell 1000 Value tracker, live since 2000 and still one of the most traded ways to own the value half of US large caps. Roughly 900 stocks, followed closely, at a price that reflects the plumbing.

Stated mandate

FYT The Fund seeks to track, before fees and expenses, the price and yield of the Nasdaq AlphaDEX Small Cap Value Index. It normally invests at least 90% of net assets in index securities and uses an indexing approach to replicate the index’s performance.

IWD The fund seeks to track an index of U.S. large- and mid-cap stocks that may be undervalued relative to comparable companies.

Why people hold it

FYT The AlphaDEX rulebook scores small caps on growth and value factors, keeps the top names, then sorts them into tiers so higher-scoring groups carry more weight. Equal weight inside each tier.nasdaqomx.com
Quarterly reconstitution recycles the roster four times a year, so the portfolio keeps re-ranking instead of drifting into whatever worked years ago.nasdaqomx.com nasdaqomx.com 2
Roughly 300 names, with weight set by score tier rather than piled into the largest companies. No single holding runs the show.nasdaqomx.com
Trading since 2011, and built to replicate rather than outguess: at least 90% of net assets sit in index securities, and it has stayed close to that index.

IWD Follows the Russell 1000 Value Index closely, one of the tightest index-following records among US value funds.
About 900 large- and mid-cap names, so no single stock or sector drives the result.
Trading since 2000 and actively traded, it is among the easier value ETFs to move in and out of, in size.

Worth knowing

FYT 0.70% a year against a roughly 0.20% median for US value ETFs, and giants like VTV and IUSV sit near a nickel. That gap is the price of the screen.
Thinly traded on a modest asset base, so spreads can run wider than the household-name funds in this category. Limit orders matter more here.
Small caps plus a factor screen swing harder than the large-cap value indexes that anchor this group, and can spend long stretches looking nothing like plain vanilla value.

IWD At 0.18% a year, it costs more than several broad value rivals (VTV 0.03%, SCHV 0.04%, IUSV 0.04%). The extra buys the Russell index and the trading depth.
Holding roughly 900 names out of a 1,000-stock parent index, the value tilt is wide and mild, not a concentrated deep-value bet.ishares.com
Distributions land quarterly, and the amount rides on what the underlying companies pay.

Full FYT profile⁠

Full IWD profile⁠

FYT vs IWD Holdings

How FYT and IWD differ

Overlap by weight

0.2%

Shared holdings make up 11.4% of FYT and 0.2% of IWD.

Level by level

Holdings29 in both0.2%
Sector11 Sectors77.0%
Countryby domicile99.2%
Asset classEquity100%

Sector

Sector weights in FYT and IWD, widest gap first
Sector	More in FYTMore in IWD	FYT	IWD
Technology	IWD +13.9 points	6.3%	20.2%
Consumer Discretionary	FYT +11.2 points	21.4%	10.2%
Health Care	IWD +8.5 points	5.0%	13.5%
Real Estate	FYT +4.4 points	7.7%	3.3%
Financials	FYT +3.8 points	22.1%	18.3%
Consumer Staples	FYT +1.3 points	8.9%	7.6%
Energy	FYT +0.9 points	7.6%	6.7%
Utilities	IWD +0.6 points	2.9%	3.5%
Communication	FYT +0.5 points	3.4%	2.9%
Materials	FYT +0.4 points	3.9%	3.5%
Industrials	FYT +0.4 points	10.9%	10.5%

Country, concentration and asset class

Country by domicile

Country weights in FYT and IWD, widest gap first
Country	More in FYTMore in IWD	FYT	IWD
United States	FYT +0.6 points	99.7%	99.1%
Other countries (10)	IWD +0.6 points	0.3%	0.9%

Concentration

Weight in the 10 largest Holdings

FYT7.4%
IWD29.3%

Securities held

FYT262
IWD871

Asset class

FYT: Equity
IWD: Equity

Holdings

Only in FYT233
In both29
Only in IWD842

Only in FYT

233 securities, 88.5% of FYT by weight

DXC Technology Company0.84%
Kohl's Corporation0.80%
Harley-Davidson, Inc.0.78%
Academy Sports and Outdoors, Inc.0.75%
MAXIMUS, Inc.0.73%
Comstock Resources, Inc.0.73%
Everforth Incorporated0.71%
Asbury Automotive Group, Inc.0.70%
NMI Holdings, Inc. (Class A)0.70%
PROG Holdings Inc.0.68%
G-III Apparel Group, Ltd.0.68%
Gulfport Energy Corporation0.67%
American Eagle Outfitters, Inc.0.67%
Vistance Networks Inc.0.67%
MillerKnoll Inc.0.67%
Group 1 Automotive, Inc.0.66%
Avista Corporation0.65%
SiriusPoint Ltd.0.65%
Hamilton Insurance Group, Ltd. (Class B)0.65%
AMN Healthcare Services, Inc.0.64%
Resideo Technologies, Inc.0.63%
Yelp Inc.0.63%
Bristow Group Inc.0.63%
Graham Holdings Company0.63%
La-Z-Boy Incorporated0.63%
Telephone and Data Systems, Inc.0.62%
Carter's, Inc.0.61%
Innoviva, Inc.0.61%
Ingles Markets, Incorporated0.60%
Walker & Dunlop, Inc.0.60%
Dorian LPG Ltd.0.60%
TriMas Corporation0.60%
Innovative Industrial Properties, Inc.0.60%
BKV Corporation0.60%
Array Digital Infrastructure Inc0.59%
The Greenbrier Companies, Inc.0.59%
Hawaiian Electric Industries, Inc.0.59%
Sunrun Inc.0.59%
BellRing Brands, Inc.0.58%
Kennametal Inc.0.58%
Strategic Education, Inc.0.57%
Par Pacific Holdings, Inc.0.57%
Central Garden & Pet Company (Class A)0.57%
Ardent Health, Inc.0.57%
Forestar Group Inc.0.57%
Nabors Industries Ltd.0.57%
Advance Auto Parts, Inc.0.57%
Trinity Industries, Inc.0.56%
Flowers Foods, Inc.0.55%
Hub Group, Inc.0.55%

Only in IWD

842 securities, 99.6% of IWD by weight

Apple6.03%
Amazon.com Inc5.64%
Microsoft5.12%
Berkshire Hathaway Inc Class B2.67%
JPMorgan Chase & Co2.38%
Exxonmobil Holdings Corp2.04%
Johnson & Johnson1.74%
Walmart1.31%
AbbVie1.27%
Chevron1.15%
Cisco Systems Inc1.09%
Procter & Gamble0.99%
Merck & Co Inc0.98%
UnitedHealth Group0.97%
Philip Morris International0.86%
Coca-Cola0.85%
Bank of America0.80%
Intel Corporation0.79%
Rtx0.71%
Thermo Fisher Scientific0.68%
Goldman Sachs Group0.68%
Costco Wholesale Corp0.67%
Wells Fargo0.67%
Meta Platforms Class A0.65%
International Business Machines Co0.64%
Linde PLC0.63%
Gilead Sciences0.56%
Morgan Stanley0.55%
Walt Disney0.51%
Analog Devices0.50%
Conocophillips0.50%
Verizon Communications Inc0.49%
Abbott Laboratories0.49%
Mcdonalds Corp0.48%
Salesforce0.48%
BlackRock0.46%
Nextera Energy0.46%
Qualcomm0.46%
Pfizer0.46%
Citigroup0.46%
Welltower0.45%
Union Pacific0.44%
Deere0.44%
Pepsico0.44%
Accenture PLC Class A0.42%
Danaher0.39%
AT&T0.38%
Vertex Pharmaceuticals0.38%
S&P Global0.36%
Progressive0.36%

Weight gaps

All 29 Holdings in both funds, largest gap first.

Holding weights in FYT and IWD, widest gap first
Holding	More in FYTMore in IWD	FYT	IWD
Post Holdings, Inc.POST	FYT +0.69 points	0.70%	<0.01%
Bath & Body Works, Inc.BBWI	FYT +0.69 points	0.70%	0.01%
Thor Industries, Inc.THO	FYT +0.64 points	0.65%	<0.01%
Assured Guaranty Ltd.AGO	FYT +0.62 points	0.63%	<0.01%
Seaboard CorporationSEB	FYT +0.60 points	0.60%	<0.01%
Graphic Packaging Holding CompanyGPK	FYT +0.59 points	0.60%	<0.01%
Whirlpool CorporationWHR	FYT +0.59 points	0.59%	<0.01%
Mattel, Inc.MAT	FYT +0.58 points	0.59%	0.01%
Kilroy Realty CorpKRC	FYT +0.52 points	0.53%	0.01%
People Inc.PPLI	FYT +0.51 points	0.52%	<0.01%
The Western Union CompanyWU	FYT +0.51 points	0.51%	<0.01%
Howard Hughes Holdings Inc.HHH	FYT +0.49 points	0.50%	<0.01%
Euronet Worldwide, Inc.EEFT	FYT +0.48 points	0.49%	<0.01%
Columbia Sportswear CompanyCOLM	FYT +0.42 points	0.42%	<0.01%
Olin CorporationOLN	FYT +0.40 points	0.41%	<0.01%
MDU Resources Group, Inc.MDU	FYT +0.37 points	0.38%	0.01%
First Hawaiian, Inc.FHB	FYT +0.36 points	0.37%	<0.01%
Medical Properties Trust, Inc.MPT	FYT +0.32 points	0.32%	<0.01%
Kyndryl Holdings, Inc.KD	FYT +0.29 points	0.30%	<0.01%
Universal Display CorporationOLED	FYT +0.26 points	0.27%	<0.01%
Schneider National, Inc. (Class B)SNDR	FYT +0.22 points	0.22%	<0.01%
FTI Consulting, Inc.FCN	FYT +0.15 points	0.16%	0.01%
PVH Corp.PVH	FYT +0.14 points	0.15%	0.01%
SiteOne Landscape Supply, Inc.SITE	FYT +0.14 points	0.15%	0.01%
Shift4 Payments, Inc. (Class A)FOUR	FYT +0.13 points	0.13%	<0.01%
Dolby Laboratories, Inc.DLB	FYT +0.12 points	0.13%	<0.01%
Envista Holdings CorporationNVST	FYT +0.11 points	0.12%	0.01%
Grand Canyon Education, Inc.LOPE	FYT +0.11 points	0.12%	<0.01%
Bright Horizons Family Solutions Inc.BFAM	FYT +0.09 points	0.10%	<0.01%

All 262 FYT holdings⁠All 871 IWD 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.

FYT vs IWD Cost

Overpaying FYT vs IWD

$9,857

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

FYT 0.70%
$13,606
IWD 0.18%
$3,749

Amount$10,000

Years30 years

Cost over time

FYT 0.70%
IWD 0.18%
Overpaying

Year by year

Year	FYT	IWD	Overpaying
10	$1,250	$328	$922
20	$4,760	$1,281	$3,479
30	$13,606	$3,749	$9,857

Expense ratio

0.70%FYT
0.18%IWD, cheaper

IWD0.18%FYT0.70%

0.03%0.80%

Middle half of US Value Index funds
Median 0.20%

IWD 16th cheapest of 40 funds

FYT 38th cheapest of 40 funds

FYT vs IWD Dividends

Last 12 months to Oct 30, 2026

Yield (12M): FYT 1.84%, better; IWD 1.37%
Payout (12M): FYT $1.29; IWD $3.53
Last payment: FYT $0.47; IWD $0.93
Ex-dividend: FYT Sep 24, 2026; IWD Sep 15, 2026
Paid on: FYT Sep 30, 2026; IWD Sep 18, 2026
Frequency: FYT Quarterly; IWD Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

FYTQuarterly · 37 paymentsAll FYT payments⁠

IWDQuarterly · 39 paymentsAll IWD payments⁠

FYT vs IWD Risk

Fall from peak · 5 years

Risk facts

VolatilityStd dev, 3 years: FYT 19.9%IWD 12.1%, better
Return per unit of riskSharpe ratio, 3 years: FYT 0.71IWD 1.42, better
Worst fallMax drawdown, 5 years: FYT −28.9%IWD −19.0%, better
Market sensitivityBeta, 5 years: FYT 1.00IWD 0.85; Market = 1

FYT and IWD in the news

All news⁠

Best ETFs
Best value ETFs: Vanguard's 0.03% fund, unless you want Russell's list
Updated Nov 2, 2026IWD
Head-to-Head
IWD vs VBR: a lower fee does not buy the other value portfolio
12 hours agoIWD
Category Review
U.S. value funds beat the S&P 500 over the past year, but the funds did not move together
Updated Oct 21, 2026IWD
New ETFs
Avantis Investors' Avantis U.S. Core Equity ETF AVUC overlaps a fund it already runs
Oct 16, 2026IWD
Best ETFs
The best value ETF depends on whose list you bought
Updated Oct 2, 2026IWD
Category Review
One US value fund returned 68% with Micron at 22.5%. The median returned 22%
Updated Sep 23, 2026IWD

Popular comparisons

FYTCvsSCHVA
First Trust Small Cap Value AlphaDEX Fund · Schwab U.S. Large-Cap Value ETF
Expense ratio
0.70% · 0.04%
Category
IWDAvsSCHVA
iShares Russell 1000 Value ETF · Schwab U.S. Large-Cap Value ETF
Expense ratio
0.18% · 0.04%
Category
FYTCvsVTVA
First Trust Small Cap Value AlphaDEX Fund · Vanguard Morningstar Value ETF
Expense ratio
0.70% · 0.03%
Category
IWDAvsVTVA
iShares Russell 1000 Value ETF · Vanguard Morningstar Value ETF
Expense ratio
0.18% · 0.03%
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FYTCvsIUSVA
First Trust Small Cap Value AlphaDEX Fund · iShares Core S&P U.S. Value ETF
Expense ratio
0.70% · 0.04%
Category
IWDAvsIUSVA
iShares Russell 1000 Value ETF · iShares Core S&P U.S. Value ETF
Expense ratio
0.18% · 0.04%
Category

FYT vs IWD

In short

Stated mandate

Why people hold it