ARGT vs. FLN

Last updated Jun 24, 2026

ARGT (Global X MSCI Argentina ETF) and FLN (First Trust Latin America AlphaDEX Fund) are both Latin America Equities funds - ARGT tracks the MSCI All Argentina 25/50 Index while FLN tracks the NASDAQ AlphaDEX Latin America Index. Both are passively managed. Over the past 10 years, ARGT returned 17.15%/yr vs 9.42%/yr for FLN. A 0.51 correlation means they provide meaningful diversification when combined. ARGT charges 0.59%/yr vs 0.80%/yr for FLN.

Performance

ARGT vs. FLN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X MSCI Argentina ETF (ARGT) and First Trust Latin America AlphaDEX Fund (FLN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ARGT achieves a 1.25% return, which is significantly lower than FLN's 10.73% return. Over the past 10 years, ARGT has outperformed FLN with an annualized return of 17.15%, while FLN has yielded a comparatively lower 9.42% annualized return.

ARGT

• 1D: -2.31%
• 1M: 2.38%
• YTD: 1.25%
• 6M: 1.33%
• 1Y: 10.94%
• 3Y*: 28.12%
• 5Y*: 25.41%
• 10Y*: 17.15%

FLN

• 1D: -0.88%
• 1M: -3.24%
• YTD: 10.73%
• 6M: 11.01%
• 1Y: 33.80%
• 3Y*: 13.56%
• 5Y*: 8.70%
• 10Y*: 9.42%

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

ARGT vs. FLN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ARGT Global X MSCI Argentina ETF	1.25%	11.51%	63.46%	53.64%	11.80%	3.83%	14.58%	14.50%	-32.62%	53.87%
FLN First Trust Latin America AlphaDEX Fund	10.73%	55.05%	-23.10%	29.68%	2.73%	-6.94%	-12.27%	27.22%	-8.31%	21.54%

Correlation

The correlation between ARGT and FLN is 0.50, 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	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.57
Correlation (10Y) Calculated over the trailing 10-year period	0.57
Correlation (All Time) Calculated using the full available price history since Apr 20, 2011	0.51

The correlation between ARGT and FLN has been stable across timeframes, ranging from 0.49 to 0.57 - a consistent structural relationship.

ARGT vs. FLN - Sectors Allocation Comparison

Sectors	ARGT	FLN
Consumer Cyclical	23.4%	5.4%
Energy	22.5%	9.4%
Financial Services	16.0%	23.6%
Basic Materials	13.1%	12.9%
Industrials	8.2%	12.5%
Consumer Defensive	6.7%	7.8%
Utilities	5.3%	16.2%
Communication Services	3.4%	6.6%
Real Estate	1.4%	5.1%
Healthcare	-	0.6%
Technology	-	2.1%

Return for Risk

ARGT vs. FLN — Risk / Return Rank

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

ARGT

ARGT Risk / Return Rank: 14
ARGT Sharpe Ratio Rank: 13
ARGT Sortino Ratio Rank: 15
ARGT Omega Ratio Rank: 15
ARGT Calmar Ratio Rank: 15
ARGT Martin Ratio Rank: 14

FLN

FLN Risk / Return Rank: 49
FLN Sharpe Ratio Rank: 49
FLN Sortino Ratio Rank: 46
FLN Omega Ratio Rank: 46
FLN Calmar Ratio Rank: 56
FLN Martin Ratio Rank: 46

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.

ARGT vs. FLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X MSCI Argentina ETF (ARGT) and First Trust Latin America AlphaDEX Fund (FLN). 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.

	ARGT	FLN	Difference
Sharpe ratio: Return per unit of total volatility	0.29	1.59	-1.30
Sortino ratio: Return per unit of downside risk	0.76	2.16	-1.40
Omega ratio: Gain probability vs. loss probability	1.09	1.28	-0.19
Calmar ratio: Return relative to maximum drawdown	0.50	2.59	-2.09
Martin ratio: Return relative to average drawdown	1.10	7.24	-6.15

ARGT vs. FLN - Sharpe Ratio Comparison

The current ARGT Sharpe Ratio is 0.29, which is lower than the FLN Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of ARGT and FLN, 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

ARGT vs. FLN - Drawdown Comparison

The maximum ARGT drawdown since its inception was -61.68%, which is greater than FLN's maximum drawdown of -57.95%. Use the drawdown chart below to compare losses from any high point for ARGT and FLN.

Drawdown Indicators

	ARGT	FLN	Difference
Max Drawdown Largest peak-to-trough decline	-61.68%	-57.95%	-3.73%
Max Drawdown (1Y) Largest decline over 1 year	-22.02%	-13.10%	-8.92%
Max Drawdown (3Y) Largest decline over 3 years	-28.46%	-25.23%	-3.23%
Max Drawdown (5Y) Largest decline over 5 years	-35.14%	-25.95%	-9.19%
Max Drawdown (10Y) Largest decline over 10 years	-61.68%	-57.75%	-3.93%
Current Drawdown Current decline from peak	-10.09%	-10.75%	+0.66%
Average Drawdown Average peak-to-trough decline	-22.00%	-18.87%	-3.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.01%	4.68%	+5.33%

Volatility

ARGT vs. FLN - Volatility Comparison

Global X MSCI Argentina ETF (ARGT) has a higher volatility of 10.38% compared to First Trust Latin America AlphaDEX Fund (FLN) at 5.58%. This indicates that ARGT's price experiences larger fluctuations and is considered to be riskier than FLN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ARGT	FLN	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.38%	5.58%	+4.80%
Volatility (6M) Calculated over the trailing 6-month period	21.17%	17.90%	+3.27%
Volatility (1Y) Calculated over the trailing 1-year period	37.26%	21.31%	+15.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.11%	22.65%	+9.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.49%	27.57%	+3.92%

ARGT vs. FLN - Expense Ratio Comparison

ARGT has a 0.59% expense ratio, which is lower than FLN's 0.80% expense ratio.

Dividends

ARGT vs. FLN - Dividend Comparison

ARGT's dividend yield for the trailing twelve months is around 0.83%, less than FLN's 3.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARGT Global X MSCI Argentina ETF	0.83%	0.84%	1.41%	1.59%	2.45%	0.93%	0.28%	1.21%	1.34%	0.49%	0.36%	0.89%
FLN First Trust Latin America AlphaDEX Fund	3.62%	3.40%	6.26%	4.17%	5.57%	4.70%	1.64%	1.91%	3.08%	10.28%	1.06%	2.34%

Frequently Asked Questions

Can I hold both ARGT and FLN in my portfolio?

ARGT and FLN have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ARGT or FLN?

ARGT has higher volatility (10.38%) compared to FLN (5.58%). In terms of maximum drawdown, ARGT dropped -61.68% vs FLN's -57.95%.

Which ETF is better, ARGT or FLN?

On 10-year performance, ARGT leads with 17.15% vs 9.42% for FLN. On fees, ARGT is cheaper at 0.59% per year. On volatility, FLN has been the lower-risk option at 5.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ARGT or FLN?

Over the 10-year period, ARGT has performed better with a 17.15% return vs 9.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ARGT or FLN?

ARGT is cheaper with a 0.59% expense ratio, compared with 0.80% for FLN.

Which ETF pays a higher dividend yield, ARGT or FLN?

FLN has the higher dividend yield at 3.62%, compared with 0.83% for ARGT.

What is the main difference between ARGT and FLN?

ARGT tracks MSCI All Argentina 25/50 Index, while FLN tracks NASDAQ AlphaDEX Latin America Index. They also come from different issuers: Global X and First Trust. Their fees differ too: 0.59% for ARGT and 0.80% for FLN.

Which has better risk-adjusted returns?

FLN currently has the higher Sharpe Ratio (1.59 vs 0.29), 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.