EIS vs. FDT

Last updated Jun 4, 2026

EIS (iShares MSCI Israel ETF) and FDT (First Trust Developed Markets ex-US AlphaDEX Fund) are both Foreign Large Cap Equities funds - EIS tracks the MSCI Israel Capped Investable Market Index (Net) while FDT tracks the NASDAQ AlphaDEX DM Ex-US Index. Both are passively managed. Over the past 10 years, EIS returned 11.97%/yr vs 10.91%/yr for FDT. A 0.61 correlation means they provide meaningful diversification when combined. EIS charges 0.59%/yr vs 0.80%/yr for FDT.

Performance

EIS vs. FDT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Israel ETF (EIS) and First Trust Developed Markets ex-US AlphaDEX Fund (FDT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EIS achieves a 18.19% return, which is significantly lower than FDT's 25.50% return. Over the past 10 years, EIS has outperformed FDT with an annualized return of 11.97%, while FDT has yielded a comparatively lower 10.91% annualized return.

EIS

• 1D: -1.92%
• 1M: -2.12%
• YTD: 18.19%
• 6M: 22.47%
• 1Y: 54.91%
• 3Y*: 37.61%
• 5Y*: 15.32%
• 10Y*: 11.97%

FDT

• 1D: -0.64%
• 1M: 5.22%
• YTD: 25.50%
• 6M: 28.63%
• 1Y: 55.05%
• 3Y*: 30.08%
• 5Y*: 12.55%
• 10Y*: 10.91%

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

EIS vs. FDT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EIS iShares MSCI Israel ETF	18.19%	45.11%	34.50%	5.48%	-27.05%	22.83%	12.01%	20.93%	-4.84%	12.77%
FDT First Trust Developed Markets ex-US AlphaDEX Fund	25.50%	52.21%	6.97%	15.03%	-19.51%	11.43%	4.29%	16.82%	-19.98%	34.42%

Correlation

The correlation between EIS and FDT 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	0.51
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (10Y) Calculated over the trailing 10-year period	0.61
Correlation (All Time) Calculated using the full available price history since Apr 20, 2011	0.61

The correlation between EIS and FDT shifts across timeframes, from 0.50 (1 year) to 0.61 (10 years), reflecting how their relationship changes across market environments.

EIS vs. FDT - Sectors Allocation Comparison

Sectors	EIS	FDT
Financial Services	34.6%	10.2%
Technology	17.8%	8.1%
Industrials	10.9%	34.0%
Healthcare	9.8%	1.4%
Real Estate	9.1%	5.3%
Utilities	6.6%	5.2%
Communication Services	2.7%	2.7%
Consumer Cyclical	2.5%	11.5%
Consumer Defensive	2.3%	2.8%
Energy	2.0%	9.2%
Basic Materials	1.8%	9.6%

Return for Risk

EIS vs. FDT — Risk / Return Rank

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

EIS

EIS Risk / Return Rank: 76
EIS Sharpe Ratio Rank: 74
EIS Sortino Ratio Rank: 73
EIS Omega Ratio Rank: 68
EIS Calmar Ratio Rank: 83
EIS Martin Ratio Rank: 82

FDT

FDT Risk / Return Rank: 84
FDT Sharpe Ratio Rank: 88
FDT Sortino Ratio Rank: 84
FDT Omega Ratio Rank: 86
FDT Calmar Ratio Rank: 79
FDT Martin Ratio Rank: 81

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.

EIS vs. FDT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Israel ETF (EIS) and First Trust Developed Markets ex-US AlphaDEX Fund (FDT). 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.

	EIS	FDT	Difference
Sharpe ratio: Return per unit of total volatility	2.45	3.00	-0.56
Sortino ratio: Return per unit of downside risk	3.36	3.85	-0.49
Omega ratio: Gain probability vs. loss probability	1.42	1.54	-0.12
Calmar ratio: Return relative to maximum drawdown	4.45	4.13	+0.33
Martin ratio: Return relative to average drawdown	16.54	16.12	+0.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EIS vs. FDT - Sharpe Ratio Comparison

The current EIS Sharpe Ratio is 2.45, which is comparable to the FDT Sharpe Ratio of 3.00. The chart below compares the historical Sharpe Ratios of EIS and FDT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EIS	FDT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.45	3.00	-0.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.69	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	0.59	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.40	-0.07

Drawdowns

EIS vs. FDT - Drawdown Comparison

The maximum EIS drawdown since its inception was -51.94%, which is greater than FDT's maximum drawdown of -46.10%. Use the drawdown chart below to compare losses from any high point for EIS and FDT.

Drawdown Indicators

	EIS	FDT	Difference
Max Drawdown Largest peak-to-trough decline	-51.94%	-46.10%	-5.84%
Max Drawdown (1Y) Largest decline over 1 year	-12.40%	-13.41%	+1.01%
Max Drawdown (3Y) Largest decline over 3 years	-24.10%	-14.29%	-9.81%
Max Drawdown (5Y) Largest decline over 5 years	-41.88%	-33.18%	-8.70%
Max Drawdown (10Y) Largest decline over 10 years	-41.88%	-46.10%	+4.22%
Current Drawdown Current decline from peak	-5.56%	-1.59%	-3.97%
Average Drawdown Average peak-to-trough decline	-13.90%	-10.78%	-3.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.33%	3.43%	-0.10%

Volatility

EIS vs. FDT - Volatility Comparison

The current volatility for iShares MSCI Israel ETF (EIS) is 6.64%, while First Trust Developed Markets ex-US AlphaDEX Fund (FDT) has a volatility of 7.23%. This indicates that EIS experiences smaller price fluctuations and is considered to be less risky than FDT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EIS	FDT	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.64%	7.23%	-0.59%
Volatility (6M) Calculated over the trailing 6-month period	16.05%	15.91%	+0.14%
Volatility (1Y) Calculated over the trailing 1-year period	22.56%	18.42%	+4.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.81%	18.23%	+3.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.08%	18.52%	+2.56%

EIS vs. FDT - Expense Ratio Comparison

EIS has a 0.59% expense ratio, which is lower than FDT's 0.80% expense ratio.

Dividends

EIS vs. FDT - Dividend Comparison

EIS's dividend yield for the trailing twelve months is around 1.22%, less than FDT's 2.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EIS iShares MSCI Israel ETF	1.22%	1.44%	1.38%	1.39%	1.66%	1.04%	0.16%	2.06%	0.87%	2.02%	1.78%	2.55%
FDT First Trust Developed Markets ex-US AlphaDEX Fund	2.84%	3.27%	3.89%	4.36%	2.29%	3.80%	2.42%	2.78%	2.13%	1.57%	1.76%	1.83%

Frequently Asked Questions

Can I hold both EIS and FDT in my portfolio?

EIS and FDT 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, EIS or FDT?

FDT has higher volatility (7.23%) compared to EIS (6.64%). In terms of maximum drawdown, EIS dropped -51.94% vs FDT's -46.10%.

Which ETF is better, EIS or FDT?

On 10-year performance, EIS leads with 11.97% vs 10.91% for FDT. On fees, EIS is cheaper at 0.59% per year. On volatility, EIS has been the lower-risk option at 6.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EIS or FDT?

Over the 10-year period, EIS has performed better with a 11.97% return vs 10.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EIS or FDT?

EIS is cheaper with a 0.59% expense ratio, compared with 0.80% for FDT.

Which ETF pays a higher dividend yield, EIS or FDT?

FDT has the higher dividend yield at 2.84%, compared with 1.22% for EIS.

What is the main difference between EIS and FDT?

EIS tracks MSCI Israel Capped Investable Market Index (Net), while FDT tracks NASDAQ AlphaDEX DM Ex-US Index. They also come from different issuers: iShares and First Trust. Their fees differ too: 0.59% for EIS and 0.80% for FDT.

Which has better risk-adjusted returns?

FDT currently has the higher Sharpe Ratio (3.00 vs 2.45), 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.