DVXE vs. FXN

Last updated Aug 1, 2026

DVXE (WEBs Energy XLE Defined Volatility ETF) and FXN (First Trust Energy AlphaDEX Fund) are both Energy Equities funds - DVXE tracks the Syntax Defined Volatility XLE Index while FXN tracks the StrataQuant Energy Index. Both are passively managed. Over the past year, DVXE returned 61.29% vs 46.96% for FXN. Their correlation of 0.92 means they have usually moved in the same direction. DVXE charges 0.89%/yr vs 0.64%/yr for FXN.

Performance

DVXE vs. FXN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WEBs Energy XLE Defined Volatility ETF (DVXE) and First Trust Energy AlphaDEX Fund (FXN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DVXE achieves a 50.61% return, which is significantly higher than FXN's 35.16% return.

DVXE

• 1D: 1.38%
• 1M: 15.67%
• 6M: 26.93%
• YTD: 50.61%
• 1Y: 61.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 55.89%

FXN

• 1D: 1.52%
• 1M: 9.73%
• 6M: 21.31%
• YTD: 35.16%
• 1Y: 46.96%
• 3Y*: 11.13%
• 5Y*: 19.35%
• 10Y*: 7.09%
• ALL TIME*: 2.16%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DVXE WEBs Energy XLE Defined Volatility ETF	$14.59K	$12.40K	$16.43K
FXN First Trust Energy AlphaDEX Fund	$7.69M	$9.20M	$36.92M

DVXE vs. FXN - Yearly Performance Comparison

	2026 (YTD)	2025
DVXE WEBs Energy XLE Defined Volatility ETF	50.61%	4.49%
FXN First Trust Energy AlphaDEX Fund	35.16%	7.75%

Correlation

The correlation between DVXE and FXN is 0.93, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.93
Correlation (All Time) Calculated using the full available price history since Jul 23, 2025	0.92

The correlation between DVXE and FXN has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.

Return for Risk

DVXE vs. FXN — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

DVXE

DVXE Risk / Return Rank: 68
DVXE Sharpe Ratio Rank: 79
DVXE Sortino Ratio Rank: 70
DVXE Omega Ratio Rank: 68
DVXE Calmar Ratio Rank: 73
DVXE Martin Ratio Rank: 51

FXN

FXN Risk / Return Rank: 75
FXN Sharpe Ratio Rank: 80
FXN Sortino Ratio Rank: 74
FXN Omega Ratio Rank: 71
FXN Calmar Ratio Rank: 85
FXN Martin Ratio Rank: 66

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

DVXE vs. FXN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WEBs Energy XLE Defined Volatility ETF (DVXE) and First Trust Energy AlphaDEX Fund (FXN). 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.

	DVXE	FXN	Difference
Sharpe ratio: Return per unit of total volatility	1.83	1.85	-0.02
Sortino ratio: Return per unit of downside risk	2.31	2.40	-0.09
Omega ratio: Gain probability vs. loss probability	1.29	1.30	-0.01
Calmar ratio: Return relative to maximum drawdown	2.59	3.22	-0.62
Martin ratio: Return relative to average drawdown	6.05	8.05	-2.00

DVXE vs. FXN - Sharpe Ratio Comparison

The current DVXE Sharpe Ratio is 1.83, which is comparable to the FXN Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of DVXE and FXN, 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

DVXE vs. FXN - Drawdown Comparison

The maximum DVXE drawdown since its inception was -21.83%, smaller than the maximum FXN drawdown of -87.39%. Use the drawdown chart below to compare losses from any high point for DVXE and FXN.

Drawdown Indicators

	DVXE	FXN	Difference
Max Drawdown Largest peak-to-trough decline	-21.83%	-87.39%	+65.56%
Max Drawdown (1Y) Largest decline over 1 year	-21.83%	-13.41%	-8.42%
Max Drawdown (3Y) Largest decline over 3 years	—	-31.69%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-31.69%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-80.63%	—
Current Drawdown Current decline from peak	-8.57%	-4.33%	-4.24%
Average Drawdown Average peak-to-trough decline	-7.25%	-37.74%	+30.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.37%	5.38%	+3.99%

Volatility

DVXE vs. FXN - Volatility Comparison

WEBs Energy XLE Defined Volatility ETF (DVXE) has a higher volatility of 8.29% compared to First Trust Energy AlphaDEX Fund (FXN) at 6.09%. This indicates that DVXE's price experiences larger fluctuations and is considered to be riskier than FXN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DVXE	FXN	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.29%	6.09%	+2.20%
Volatility (6M) Calculated over the trailing 6-month period	22.36%	17.23%	+5.13%
Volatility (1Y) Calculated over the trailing 1-year period	30.92%	23.29%	+7.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	30.78%	28.72%	+2.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.78%	34.81%	-4.03%

DVXE vs. FXN - Expense Ratio Comparison

DVXE has a 0.89% expense ratio, which is higher than FXN's 0.64% expense ratio.

Dividends

DVXE vs. FXN - Dividend Comparison

DVXE has not paid dividends to shareholders, while FXN's dividend yield for the trailing twelve months is around 1.62%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DVXE WEBs Energy XLE Defined Volatility ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FXN First Trust Energy AlphaDEX Fund	1.62%	2.53%	2.50%	3.09%	2.28%	0.87%	4.71%	1.47%	1.43%	1.17%	1.05%	2.36%

Frequently Asked Questions

Can I hold both DVXE and FXN in my portfolio?

With a correlation of 0.93, DVXE and FXN move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, DVXE or FXN?

DVXE has higher volatility (8.29%) compared to FXN (6.09%). In terms of maximum drawdown, DVXE dropped -21.83% vs FXN's -87.39%.

Which ETF is better, DVXE or FXN?

On 1-year performance, DVXE leads with 61.29% vs 46.96% for FXN. On fees, FXN is cheaper at 0.64% per year. On volatility, FXN has been the lower-risk option at 6.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DVXE or FXN?

Over the 1-year period, DVXE has performed better with a 61.29% return vs 46.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DVXE or FXN?

FXN is cheaper with a 0.64% expense ratio, compared with 0.89% for DVXE.

Which ETF pays a higher dividend yield, DVXE or FXN?

FXN has the higher dividend yield at 1.62%, compared with 0.00% for DVXE.

What is the main difference between DVXE and FXN?

DVXE tracks Syntax Defined Volatility XLE Index, while FXN tracks StrataQuant Energy Index. They also come from different issuers: WEBs and First Trust. Their fees differ too: 0.89% for DVXE and 0.64% for FXN.

Which has better risk-adjusted returns?

FXN currently has the higher Sharpe Ratio (1.85 vs 1.83), 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.