Using the typical BS170 or 2N7000 Mosfets, the "body diode" clips around .6v and the actual mosfet around 2v. This creates very asymmetrical clipping and may be to your liking YMMV. It is similar to using a std. 1N914 diode and an LED in clipping threshold. As John Greene mentioned, and I have noticed on some "boutique" pedals, the body diode is the one being used, not the mosfet.
I really like Mosfets as clippers and
always use the body diode. I first used IRF510 andIRF520 Mosfets with 1N34A diodes as "traffic cop," then started using BS170 Mosfets ... but found (as previously mentioned) that due to the approx. .001uF of capacitance of the IRF5** and the ultra-low capacitance of the BS170, I was soon adding various values of caps (often between .0005uF and .001uF, sometimes a bit higher) parallel to the clippers to give that somewhat warmer clipping tone. It usually has to be adjusted for the particular circuit. I think I added higher capacitance values to the Mosfet clippers (body diode) in an OCD clone than the BS170s in several TS clones.
In a Tubescreamer circuit, Mosfets sound great as clippers but sometimes, at least to my ear, the more "in your face" tone of the symmetrical 1N4148/1N914 can sometimes sound better. It may just gel with that design. But then again, a BS170/1N34A opposite a red LED is a pretty cool sound, and sometimes the Mosfets (and a more asym arrangement) seems to sound better. These days, there seems to be no less than three clipping options in pedals I build, and Mosfets (body diode) always figure into at least one of those. I also like 1N34A diodes in series ... but because they can be a bit darker, I never add capacitance to those, to soften that arrangement. They sure don't need "softening" but I really like 'em, too.
In the OCD clone I made, the Mosfets were a must (obviously) ... although I ended up switching in various clipping thresholds, using various combinations (in series) of both 1N34A and 1N270, with the BS170 Mosfets. I really like using a BS170+1N34A x BS170+1N270 as clippers ... then add a small amount of capacitance (tuned for each circuit) as needed. Even with the Ge diodes added to the BS170 Mosfets (to use the Mosfet's body diode), at least a
little bit of added capacitance is usually in order. But that's a matter of taste and will vary.
I just worked up a Big Muff variant that sounds wonderful with the BS170+1N34A x BS170+1N270 combination as one of the clipping options (but, in this case, with no capacitance added parallel to the clippers).