FYX vs ILCV: Grades, Fees and Holdings Compared

First Trust Small Cap Core AlphaDEX Fund

FYXBNasdaq

iShares Morningstar Value ETF

ILCVANYSE Arca

Overlap

0.0%by weight

Expense ratio

ILCV −0.54pt a year

FYX0.58%ILCV0.04%

Avg volume · 30D

FYX 1.4×the volume

FYX34.9KILCV24.4K

10Y return · a year

FYX +0.3pt

FYX+12.6%ILCV+12.3%

FYX vs ILCV Performance

Oct 29, 2021 – Oct 30, 2026

+53.6%FYX+81.1%ILCV

Expense ratio: FYX 0.58%; ILCV 0.04%, better
Fund size: FYX $1.38B; ILCV $1.37B
1Y total return: FYX +27.5%, better; ILCV +21.0%
Yield (12M): FYX 1.10%; ILCV 1.51%, better
Holdings: FYX 526; ILCV 375
Avg volume (30D): FYX 34.9K sh, better; ILCV 24.4K sh
NAV per share: FYX $138.29; ILCV $109.27
52W range

ETF.net Grade

Pillar letters and Scores for FYX, ILCV, with each pillar’s weight
Pillar	FYX	ILCV
Cost30% weight	F19	A99Higher
Mission25% weight	A94Higher	A82
Risk15% weight	C40	A90Higher
Tradability15% weight	B61	B64Higher
Holdings10% weight	A86Higher	D39
Durability5% weight	A70	A82Higher

Rank among US Multifactor funds

How we build Categories ›

Same Category. FYX and ILCV are both graded against the same 99 US Multifactor funds, so their Grades compare head to head.

US Multifactor⁠

Category · 99 funds

See all 99 ›

ILCV ranks 2nd and FYX 48th of 99 funds in the US Multifactor Category.

Rank 1AVONVVanguard Russell 1000 Value ETFScore 85
Rank 2AILCViShares Morningstar Value ETFScore 81
Rank 2AVYMVanguard High Dividend Yield ETFScore 81
Rank 48BCOWSAmplify Cash Flow Dividend Leaders ETFScore 56
Rank 48BFYXFirst Trust Small Cap Core AlphaDEX FundScore 56
Rank 50CCSMProShares Large Cap Core PlusScore 55

Our read on each fund

ETF.net Research

FYXBFirst Trust Small Cap Core AlphaDEX Fund

ILCVAiShares Morningstar Value ETF

In short

FYX A smart-beta original, running since 2007. Rather than owning small caps by market size, FYX ranks them on growth and value screens and holds roughly 500 that make the cut. Rules-based stock selection, priced like the screen it runs.

ILCV Value done the thorough way: roughly 400 large- and mid-cap US stocks screened on five separate value measures, not just cheap book value. Running since 2004 at four basis points, it's one of the cheapest tickets into the value factor.

Stated mandate

FYX The Fund seeks returns that generally correspond to the price and yield of the Nasdaq AlphaDEX Small Cap Core Index before fees and expenses.

ILCV The fund seeks to track an index of U.S. large- and mid-cap stocks selected with value-oriented measures including forward earnings, book value, sales, cash flow, and dividend yield.

Why people hold it

FYX Running since 2007, one of the longest-tenured rules-based factor funds in small caps, and today a multi-billion-dollar fund.
The AlphaDEX screen ranks small caps on growth and value, then buys what passes. Stock selection by rulebook, not a market-cap list.ftportfolios.com
Roughly 500 holdings, so no single name drives the fund even after the screen narrows the field.
Has stayed tight to the Nasdaq AlphaDEX Small Cap Core Index it targets, and distributes quarterly.

ILCV Charges 0.04% a year against a 0.32% median for its factor peer group. Undercuts well-regarded rivals like VONV (0.06%) and FNDX (0.25%).
Value gets defined five ways: forward earnings, book value, sales, cash flow and dividend yield. Wider lens than a single price-to-book screen.ishares.com
Spreads the bet across about 400 large- and mid-cap names and distributes quarterly.
Trading since 2004 and now a multi-billion-dollar fund, it ranks among the strongest implementations in its factor cohort.

Worth knowing

FYX The 0.58% fee sits well above factor peers like FNDX (0.25%) and VONV (0.06%). The screen carries the burden of that gap.
Trades thinner than the headline small-cap funds, which makes bid-ask spreads worth watching.
The screen reshuffles which small caps it owns, so it can diverge sharply from a plain market-cap small-cap index in either direction.

ILCV One of the quieter tickers in its category. Thin volume means spreads matter more here than on a mega-cap index fund, and limit orders are the usual tool.
Value-only by design. It skips the market's priciest growth leaders, so it moves differently from a total-market fund in both directions.ishares.com
Large and mid caps only. Small-cap value sits outside the mandate.

Full FYX profile⁠

Full ILCV profile⁠

FYX vs ILCV Holdings

How FYX and ILCV differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of FYX and 0.0% of ILCV.

Level by level

Holdings0 in both0.0%
Sector11 Sectors78.7%
Countryby domicile99.5%
Asset classEquity100%

Sector

Sector weights in FYX and ILCV, widest gap first
Sector	More in FYXMore in ILCV	FYX	ILCV
Technology	ILCV +12.1 points	11.8%	23.9%
Consumer Discretionary	FYX +5.4 points	14.0%	8.6%
Communication	ILCV +5.3 points	3.5%	8.8%
Real Estate	FYX +4.8 points	6.5%	1.7%
Industrials	FYX +4.7 points	11.6%	6.9%
Financials	FYX +2.7 points	20.4%	17.7%
Health Care	FYX +2.4 points	15.8%	13.4%
Consumer Staples	ILCV +1.9 points	5.4%	7.3%
Materials	FYX +1.3 points	3.4%	2.1%
Utilities	ILCV +1.2 points	1.8%	3.0%
Energy	ILCV +0.8 points	5.8%	6.6%

Country, concentration and asset class

Country by domicile

Country weights in FYX and ILCV, widest gap first
Country	More in FYXMore in ILCV	FYX	ILCV
United States	FYX +0.3 points	99.5%	99.2%
Switzerland	ILCV +0.4 points	0.0%	0.4%
Brazil	FYX +0.1 points	0.2%	0.1%
United Kingdom	FYX +0.1 points	0.2%	0.1%
China	ILCV +0.1 points	0.0%	0.1%
Taiwan	FYX +0.1 points	0.1%	0.0%
Ireland	ILCV +0.1 points	0.0%	0.1%
Singapore	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

FYX4.0%
ILCV34.4%

Securities held

FYX525
ILCV372

Asset class

FYX: Equity
ILCV: Equity

Holdings

Only in FYX525
In both0
Only in ILCV372

Only in FYX

525 securities, 99.8% of FYX by weight

Appian Corporation0.43%
DXC Technology Company0.42%
CareDx, Inc.0.41%
Kohl's Corporation0.40%
Stagwell Inc.0.39%
Harley-Davidson, Inc.0.39%
Slide Insurance Holdings, Inc.0.38%
Amplitude, Inc. (Class A)0.38%
Academy Sports and Outdoors, Inc.0.38%
FIGS, Inc. (Class A)0.38%
Mattel, Inc.0.37%
First Advantage Corporation0.37%
MAXIMUS, Inc.0.37%
Comstock Resources, Inc.0.37%
Heartflow, Inc.0.36%
Everforth Incorporated0.36%
Asbury Automotive Group, Inc.0.35%
Pebblebrook Hotel Trust0.35%
NMI Holdings, Inc. (Class A)0.35%
Post Holdings, Inc.0.35%
Flowers Foods, Inc.0.35%
Flywire Corporation0.34%
Septerna, Inc.0.34%
PROG Holdings Inc.0.34%
Xeris Biopharma Holdings, Inc.0.34%
G-III Apparel Group, Ltd.0.34%
Tenable Holdings, Inc.0.34%
Gulfport Energy Corporation0.34%
Sally Beauty Holdings, Inc.0.34%
American Eagle Outfitters, Inc.0.34%
Vistance Networks Inc.0.34%
Braze, Inc. (Class A)0.34%
MillerKnoll Inc.0.34%
BJ's Restaurants, Inc.0.33%
AtriCure, Inc.0.33%
Group 1 Automotive, Inc.0.33%
Avista Corporation0.33%
Thor Industries, Inc.0.33%
The Pennant Group, Inc.0.33%
Atlanticus Holdings Corporation0.33%
SiriusPoint Ltd.0.33%
Fortrea Holdings Inc.0.33%
Hamilton Insurance Group, Ltd. (Class B)0.33%
Encore Capital Group, Inc.0.32%
Bread Financial Holdings, Inc.0.32%
AMN Healthcare Services, Inc.0.32%
Assured Guaranty Ltd.0.32%
Clover Health Investments, Corp.0.32%
Resideo Technologies, Inc.0.32%
Yelp Inc.0.32%

Only in ILCV

372 securities, 99.8% of ILCV by weight

Microsoft8.45%
Apple7.24%
Amazon.com Inc3.08%
Berkshire Hathaway Inc Class B2.84%
JPMorgan Chase & Co2.60%
Meta Platforms Class A2.50%
Exxonmobil Holdings Corp2.14%
Alphabet Class A2.04%
Johnson & Johnson1.89%
Alphabet Class C1.65%
AbbVie1.46%
Micron Technology1.35%
Tesla Inc1.24%
Chevron1.23%
Cisco Systems Inc1.22%
Procter & Gamble1.06%
UnitedHealth Group1.05%
Coca-Cola1.03%
Merck & Co Inc1.03%
Visa Class A1.00%
Bank of America0.94%
Home Depot0.93%
Philip Morris International0.92%
Walmart0.91%
Goldman Sachs Group0.77%
Rtx0.76%
Thermo Fisher Scientific0.75%
Wells Fargo0.73%
Amgen Inc0.71%
Costco Wholesale Corp0.71%
International Business Machines Co0.69%
Linde PLC0.66%
Morgan Stanley0.64%
Mastercard Class A0.63%
Citigroup0.60%
Gilead Sciences0.58%
Qualcomm0.56%
Walt Disney0.54%
Salesforce0.52%
Pepsico0.52%
Mcdonalds Corp0.52%
Verizon Communications Inc0.52%
Abbott Laboratories0.51%
Conocophillips0.51%
Union Pacific0.51%
Nextera Energy0.49%
Pfizer0.49%
BlackRock0.46%
Texas Instrument0.45%
Danaher0.43%

Weight gaps

FYX and ILCV share no securities.

All 525 FYX holdings⁠All 372 ILCV 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.

FYX vs ILCV Cost

Overpaying FYX vs ILCV

$10,604

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

FYX 0.58%
$11,453
ILCV 0.04%
$849

Amount$10,000

Years30 years

Cost over time

FYX 0.58%
ILCV 0.04%
Overpaying

Year by year

Year	FYX	ILCV	Overpaying
10	$1,041	$73	$968
20	$3,986	$288	$3,698
30	$11,453	$849	$10,604

Expense ratio

0.58%FYX
0.04%ILCV, cheaper

ILCV0.04%FYX0.58%

0.04%1.01%

Middle half of US Multifactor funds
Median 0.29%

ILCV cheapest of 99 funds

FYX 79th cheapest of 99 funds

FYX vs ILCV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): FYX 1.10%; ILCV 1.51%, better
Payout (12M): FYX $1.52; ILCV $1.65
Last payment: FYX $0.51; ILCV $0.42
Ex-dividend: FYX Sep 24, 2026; ILCV Sep 15, 2026
Paid on: FYX Sep 30, 2026; ILCV Sep 18, 2026
Frequency: FYX Quarterly; ILCV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

FYXQuarterly · 37 paymentsAll FYX payments⁠

ILCVQuarterly · 39 paymentsAll ILCV payments⁠

FYX vs ILCV Risk

Fall from peak · 5 years

FYX
ILCV

Risk facts

VolatilityStd dev, 3 years: FYX 18.9%ILCV 10.7%, better
Return per unit of riskSharpe ratio, 3 years: FYX 0.99ILCV 1.57, better
Worst fallMax drawdown, 5 years: FYX −27.9%ILCV −18.6%, better
Market sensitivityBeta, 5 years: FYX 1.08ILCV 0.82; Market = 1

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