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CRAK vs. FPA
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CRAK vs. FPA

Last updated Jun 14, 2026

CRAK (VanEck Oil Refiners ETF) and FPA (First Trust Asia Pacific ex-Japan AlphaDEX Fund) are both exchange-traded funds - CRAK is a Energy Equities fund tracking the MVIS Global Oil Refiners Index, while FPA is a Asia Pacific Equities fund tracking the NASDAQ AlphaDEX Asia Pacific Ex-Japan Index. Both are passively managed. Over the past 10 years, CRAK returned 13.50%/yr vs 11.11%/yr for FPA. At a 0.49 correlation, their price movements are largely independent. CRAK charges 0.62%/yr vs 0.80%/yr for FPA.

Performance

CRAK vs. FPA - Performance Comparison

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

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Returns By Period

In the year-to-date period, CRAK achieves a 29.26% return, which is significantly lower than FPA's 47.02% return. Over the past 10 years, CRAK has outperformed FPA with an annualized return of 13.50%, while FPA has yielded a comparatively lower 11.11% annualized return.

CRAK

1D
0.01%
1M
-1.57%
YTD
29.26%
6M
26.17%
1Y
55.23%
3Y*
20.46%
5Y*
13.12%
10Y*
13.50%

FPA

1D
-0.27%
1M
3.70%
YTD
47.02%
6M
47.32%
1Y
65.35%
3Y*
29.68%
5Y*
12.60%
10Y*
11.11%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CRAK vs. FPA - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CRAK
VanEck Oil Refiners ETF		29.26%39.11%-15.05%13.73%19.10%10.90%-11.22%9.15%-10.46%49.86%
FPA
First Trust Asia Pacific ex-Japan AlphaDEX Fund		47.02%43.16%3.95%9.97%-14.55%2.98%13.43%8.91%-21.91%35.81%

Correlation

The correlation between CRAK and FPA is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.30

Correlation (3Y)
Calculated over the trailing 3-year period

0.43

Correlation (5Y)
Calculated over the trailing 5-year period

0.43

Correlation (10Y)
Calculated over the trailing 10-year period

0.47

Correlation (All Time)
Calculated using the full available price history since Aug 19, 2015

0.49

The correlation between CRAK and FPA shifts across timeframes, from 0.30 (1 year) to 0.49 (all time), reflecting how their relationship changes across market environments.

CRAK vs. FPA - Sectors Allocation Comparison

Sectors
CRAK
FPA

Energy

98.8%
5.4%

Industrials

4.0%
32.7%

Basic Materials

1.2%
4.2%

Communication Services

-

2.6%

Consumer Cyclical

-

9.3%

Consumer Defensive

-

2.7%

Financial Services

-

8.6%

Healthcare

-

0.8%

Real Estate

-

6.2%

Technology

-

25.2%

Utilities

-

5.1%

Energy

CRAK
98.8%
FPA
5.4%

Industrials

CRAK
4.0%
FPA
32.7%

Basic Materials

CRAK
1.2%
FPA
4.2%

Communication Services

CRAK

-

FPA
2.6%

Consumer Cyclical

CRAK

-

FPA
9.3%

Consumer Defensive

CRAK

-

FPA
2.7%

Financial Services

CRAK

-

FPA
8.6%

Healthcare

CRAK

-

FPA
0.8%

Real Estate

CRAK

-

FPA
6.2%

Technology

CRAK

-

FPA
25.2%

Utilities

CRAK

-

FPA
5.1%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

VanEck Oil Refiners ETF

First Trust Asia Pacific ex-Japan AlphaDEX Fund

Often compared with CRAK:
CRAK vs. XLECRAK vs. OIHCRAK vs. VDECRAK vs. IEOCRAK vs. USAICRAK vs. EINCCRAK vs. AMLP
Often compared with FPA:
FPA vs. FSEAXFPA vs. VPLFPA vs. EPPFPA vs. EWSFPA vs. ADIVFPA vs. EWYFPA vs. FLKR

Return for Risk

CRAK vs. FPA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CRAK
CRAK Risk / Return Rank: 9292
Overall Rank
CRAK Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
CRAK Sortino Ratio Rank: 9292
Sortino Ratio Rank
CRAK Omega Ratio Rank: 9090
Omega Ratio Rank
CRAK Calmar Ratio Rank: 9494
Calmar Ratio Rank
CRAK Martin Ratio Rank: 8989
Martin Ratio Rank
FPA
FPA Risk / Return Rank: 8383
Overall Rank
FPA Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
FPA Sortino Ratio Rank: 7878
Sortino Ratio Rank
FPA Omega Ratio Rank: 8181
Omega Ratio Rank
FPA Calmar Ratio Rank: 8787
Calmar Ratio Rank
FPA Martin Ratio Rank: 8484
Martin Ratio Rank
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.

CRAK vs. FPA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Oil Refiners ETF (CRAK) 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.

CRAKFPADifference
Sharpe ratioReturn per unit of total volatility
2.98
2.41

+0.57

Sortino ratioReturn per unit of downside risk
3.91
3.02

+0.89

Omega ratioGain probability vs. loss probability

1.50

1.42

+0.08

Calmar ratioReturn relative to maximum drawdown

6.49

4.32

+2.17

Martin ratioReturn relative to average drawdown

17.24

14.88

+2.36

CRAK vs. FPA - Sharpe Ratio Comparison

The current CRAK Sharpe Ratio is 2.98, which is comparable to the FPA Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of CRAK 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.

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Drawdowns

CRAK vs. FPA - Drawdown Comparison

The maximum CRAK drawdown since its inception was -58.80%, which is greater than FPA's maximum drawdown of -52.91%. Use the drawdown chart below to compare losses from any high point for CRAK and FPA.

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Drawdown Indicators

CRAKFPADifference

Max Drawdown

Largest peak-to-trough decline

-58.80%

-52.91%

-5.89%

Max Drawdown (1Y)

Largest decline over 1 year

-8.57%

-15.37%

+6.80%

Max Drawdown (3Y)

Largest decline over 3 years

-35.61%

-20.66%

-14.95%

Max Drawdown (5Y)

Largest decline over 5 years

-35.61%

-34.54%

-1.07%

Max Drawdown (10Y)

Largest decline over 10 years

-58.80%

-52.91%

-5.89%

Current Drawdown

Current decline from peak

-6.68%

-6.94%

+0.26%

Average Drawdown

Average peak-to-trough decline

-12.48%

-13.47%

+0.99%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.22%

4.46%

-1.24%

Volatility

CRAK vs. FPA - Volatility Comparison

The current volatility for VanEck Oil Refiners ETF (CRAK) is 5.81%, while First Trust Asia Pacific ex-Japan AlphaDEX Fund (FPA) has a volatility of 14.55%. This indicates that CRAK 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.

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Volatility by Period

CRAKFPADifference

Volatility (1M)

Calculated over the trailing 1-month period

5.81%

14.55%

-8.74%

Volatility (6M)

Calculated over the trailing 6-month period

14.72%

24.45%

-9.73%

Volatility (1Y)

Calculated over the trailing 1-year period

18.66%

27.61%

-8.95%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.67%

24.43%

-3.76%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.17%

22.63%

-0.46%

CRAK vs. FPA - Expense Ratio Comparison

CRAK has a 0.62% expense ratio, which is lower than FPA's 0.80% expense ratio.

Dividends

CRAK vs. FPA - Dividend Comparison

CRAK's dividend yield for the trailing twelve months is around 1.56%, less than FPA's 3.63% yield.

PositionTTM20252024202320222021202020192018201720162015
CRAK
VanEck Oil Refiners ETF		1.56%2.02%5.60%3.65%3.08%2.40%2.64%1.49%2.42%1.66%3.42%0.47%
FPA
First Trust Asia Pacific ex-Japan AlphaDEX Fund		3.63%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

CRAK and FPA have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FPA has higher volatility (14.55%) compared to CRAK (5.81%). In terms of maximum drawdown, CRAK dropped -58.80% vs FPA's -52.91%.

On 10-year performance, CRAK leads with 13.50% vs 11.11% for FPA. On fees, CRAK is cheaper at 0.62% per year. On volatility, CRAK has been the lower-risk option at 5.81%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, CRAK has performed better with a 13.50% return vs 11.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

CRAK is cheaper with a 0.62% expense ratio, compared with 0.80% for FPA.

FPA has the higher dividend yield at 3.63%, compared with 1.56% for CRAK.

CRAK is categorized as Energy Equities, while FPA is Asia Pacific Equities. CRAK tracks MVIS Global Oil Refiners Index, while FPA tracks NASDAQ AlphaDEX Asia Pacific Ex-Japan Index. They also come from different issuers: VanEck and First Trust. Their fees differ too: 0.62% for CRAK and 0.80% for FPA.

CRAK currently has the higher Sharpe Ratio (2.98 vs 2.41), 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.

Portfolio Optimizer

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