ADVE vs. FPA

Last updated Jun 24, 2026

ADVE (Matthews Asia Dividend Active ETF) and FPA (First Trust Asia Pacific ex-Japan AlphaDEX Fund) are both Asia Pacific Equities funds. ADVE is actively managed, while FPA is passively managed. Over the past year, ADVE returned 33.31% vs 57.04% for FPA. A 0.69 correlation means they provide meaningful diversification when combined. ADVE charges 0.79%/yr vs 0.80%/yr for FPA.

Performance

ADVE vs. FPA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Matthews Asia Dividend Active ETF (ADVE) and First Trust Asia Pacific ex-Japan AlphaDEX Fund (FPA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ADVE achieves a 15.66% return, which is significantly lower than FPA's 43.37% return.

ADVE

• 1D: -3.82%
• 1M: -1.39%
• YTD: 15.66%
• 6M: 15.85%
• 1Y: 33.31%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FPA

• 1D: -6.12%
• 1M: -0.38%
• YTD: 43.37%
• 6M: 43.73%
• 1Y: 57.04%
• 3Y*: 30.61%
• 5Y*: 12.24%
• 10Y*: 10.87%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ADVE vs. FPA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
ADVE Matthews Asia Dividend Active ETF	15.66%	26.12%	7.02%	4.58%
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund	43.37%	43.16%	3.95%	6.71%

Correlation

The correlation between ADVE and FPA is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (All Time) Calculated using the full available price history since Sep 22, 2023	0.69

The correlation between ADVE and FPA has been stable across timeframes, ranging from 0.69 to 0.74 - a consistent structural relationship.

ADVE vs. FPA - Sectors Allocation Comparison

Sectors	ADVE	FPA
Technology	29.3%	25.2%
Financial Services	27.7%	8.6%
Industrials	12.2%	32.7%
Communication Services	12.0%	2.6%
Consumer Cyclical	5.8%	9.3%
Basic Materials	4.1%	4.2%
Real Estate	3.4%	6.2%
Consumer Defensive	2.7%	2.7%
Energy	1.0%	5.4%
Utilities	0.9%	5.1%
Healthcare	0.9%	0.8%

Return for Risk

ADVE vs. FPA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ADVE

ADVE Risk / Return Rank: 60
ADVE Sharpe Ratio Rank: 58
ADVE Sortino Ratio Rank: 56
ADVE Omega Ratio Rank: 61
ADVE Calmar Ratio Rank: 62
ADVE Martin Ratio Rank: 64

FPA

FPA Risk / Return Rank: 68
FPA Sharpe Ratio Rank: 65
FPA Sortino Ratio Rank: 59
FPA Omega Ratio Rank: 64
FPA Calmar Ratio Rank: 77
FPA Martin Ratio Rank: 73

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ADVE vs. FPA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Matthews Asia Dividend Active ETF (ADVE) and First Trust Asia Pacific ex-Japan AlphaDEX Fund (FPA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	ADVE	FPA	Difference
Sharpe ratio: Return per unit of total volatility	1.79	1.99	-0.20
Sortino ratio: Return per unit of downside risk	2.46	2.58	-0.12
Omega ratio: Gain probability vs. loss probability	1.34	1.36	-0.02
Calmar ratio: Return relative to maximum drawdown	2.85	3.73	-0.88
Martin ratio: Return relative to average drawdown	10.88	12.70	-1.82

ADVE vs. FPA - Sharpe Ratio Comparison

The current ADVE Sharpe Ratio is 1.79, which is comparable to the FPA Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of ADVE and FPA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ADVE vs. FPA - Drawdown Comparison

The maximum ADVE drawdown since its inception was -18.41%, smaller than the maximum FPA drawdown of -52.91%. Use the drawdown chart below to compare losses from any high point for ADVE and FPA.

Drawdown Indicators

	ADVE	FPA	Difference
Max Drawdown Largest peak-to-trough decline	-18.41%	-52.91%	+34.50%
Max Drawdown (1Y) Largest decline over 1 year	-11.73%	-15.37%	+3.64%
Max Drawdown (3Y) Largest decline over 3 years	—	-20.66%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-34.38%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-52.91%	—
Current Drawdown Current decline from peak	-5.41%	-9.25%	+3.84%
Average Drawdown Average peak-to-trough decline	-3.17%	-13.46%	+10.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.07%	4.50%	-1.43%

Volatility

ADVE vs. FPA - Volatility Comparison

The current volatility for Matthews Asia Dividend Active ETF (ADVE) is 9.05%, while First Trust Asia Pacific ex-Japan AlphaDEX Fund (FPA) has a volatility of 16.46%. This indicates that ADVE experiences smaller price fluctuations and is considered to be less risky than FPA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ADVE	FPA	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.05%	16.46%	-7.41%
Volatility (6M) Calculated over the trailing 6-month period	16.55%	26.05%	-9.50%
Volatility (1Y) Calculated over the trailing 1-year period	18.68%	28.94%	-10.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.30%	24.79%	-8.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.30%	22.76%	-6.46%

ADVE vs. FPA - Expense Ratio Comparison

ADVE has a 0.79% expense ratio, which is lower than FPA's 0.80% expense ratio.

Dividends

ADVE vs. FPA - Dividend Comparison

ADVE's dividend yield for the trailing twelve months is around 2.58%, less than FPA's 3.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ADVE Matthews Asia Dividend Active ETF	2.58%	2.97%	6.00%	0.37%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund	3.72%	4.71%	3.40%	3.02%	4.22%	5.12%	1.59%	3.90%	2.81%	3.15%	2.42%	1.74%

Frequently Asked Questions

Can I hold both ADVE and FPA in my portfolio?

ADVE and FPA have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ADVE or FPA?

FPA has higher volatility (16.46%) compared to ADVE (9.05%). In terms of maximum drawdown, ADVE dropped -18.41% vs FPA's -52.91%.

Which ETF is better, ADVE or FPA?

On 1-year performance, FPA leads with 57.04% vs 33.31% for ADVE. On fees, ADVE is cheaper at 0.79% per year. On volatility, ADVE has been the lower-risk option at 9.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ADVE or FPA?

Over the 1-year period, FPA has performed better with a 57.04% return vs 33.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ADVE or FPA?

ADVE is cheaper with a 0.79% expense ratio, compared with 0.80% for FPA.

Which ETF pays a higher dividend yield, ADVE or FPA?

FPA has the higher dividend yield at 3.72%, compared with 2.58% for ADVE.

What is the main difference between ADVE and FPA?

They also come from different issuers: Matthews and First Trust. Their fees differ too: 0.79% for ADVE and 0.80% for FPA.

Which has better risk-adjusted returns?

FPA currently has the higher Sharpe Ratio (1.99 vs 1.79), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.