FCA vs. KSTR

Last updated Jun 3, 2026

FCA (First Trust China AlphaDEX Fund) and KSTR (KraneShares SSE STAR Market 50 Index ETF) are both China Equities funds - FCA tracks the NASDAQ AlphaDEX China Index while KSTR tracks the SSE Science and Technology Innovation Board 50 Index. Both are passively managed. Over the past 5 years, FCA returned 5.02%/yr vs -0.07%/yr for KSTR. At a 0.42 correlation, their price movements are largely independent. FCA charges 0.80%/yr vs 0.89%/yr for KSTR.

Performance

FCA vs. KSTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust China AlphaDEX Fund (FCA) and KraneShares SSE STAR Market 50 Index ETF (KSTR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCA achieves a 11.53% return, which is significantly lower than KSTR's 31.11% return.

FCA

• 1D: 2.01%
• 1M: -4.08%
• YTD: 11.53%
• 6M: 9.85%
• 1Y: 44.90%
• 3Y*: 20.06%
• 5Y*: 5.02%
• 10Y*: 9.89%

KSTR

• 1D: 2.65%
• 1M: 4.77%
• YTD: 31.11%
• 6M: 35.86%
• 1Y: 82.70%
• 3Y*: 15.82%
• 5Y*: -0.07%
• 10Y*: —

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

FCA vs. KSTR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FCA First Trust China AlphaDEX Fund	11.53%	45.20%	14.07%	-8.28%	-17.61%	-0.65%
KSTR KraneShares SSE STAR Market 50 Index ETF	31.11%	42.82%	6.12%	-17.93%	-38.51%	-1.70%

Correlation

The correlation between FCA and KSTR is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (All Time) Calculated using the full available price history since Jan 28, 2021	0.42

FCA vs. KSTR - Sectors Allocation Comparison

Sectors	FCA	KSTR
Industrials	25.2%	6.5%
Financial Services	19.7%	-
Basic Materials	19.1%	0.6%
Energy	14.8%	0.9%
Technology	10.3%	78.5%
Healthcare	3.0%	4.1%
Communication Services	2.9%	-
Utilities	2.4%	-
Real Estate	1.1%	-
Consumer Cyclical	1.1%	1.4%
Consumer Defensive	0.5%	-

Return for Risk

FCA vs. KSTR — Risk / Return Rank

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

FCA

FCA Risk / Return Rank: 62
FCA Sharpe Ratio Rank: 59
FCA Sortino Ratio Rank: 53
FCA Omega Ratio Rank: 55
FCA Calmar Ratio Rank: 80
FCA Martin Ratio Rank: 65

KSTR

KSTR Risk / Return Rank: 70
KSTR Sharpe Ratio Rank: 70
KSTR Sortino Ratio Rank: 64
KSTR Omega Ratio Rank: 65
KSTR Calmar Ratio Rank: 85
KSTR Martin Ratio Rank: 65

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.

FCA vs. KSTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust China AlphaDEX Fund (FCA) and KraneShares SSE STAR Market 50 Index ETF (KSTR). 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.

	FCA	KSTR	Difference
Sharpe ratio Return per unit of total volatility	2.02	2.34	-0.32
Sortino ratio Return per unit of downside risk	2.58	2.99	-0.41
Omega ratio Gain probability vs. loss probability	1.34	1.39	-0.05
Calmar ratio Return relative to maximum drawdown	4.19	4.71	-0.52
Martin ratio Return relative to average drawdown	12.06	12.00	+0.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FCA vs. KSTR - Sharpe Ratio Comparison

The current FCA Sharpe Ratio is 2.02, which is comparable to the KSTR Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of FCA and KSTR, 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

	FCA	KSTR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.02	2.34	-0.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.18	-0.00	+0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.37	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.13	-0.01	+0.14

Drawdowns

FCA vs. KSTR - Drawdown Comparison

The maximum FCA drawdown since its inception was -45.56%, smaller than the maximum KSTR drawdown of -66.46%. Use the drawdown chart below to compare losses from any high point for FCA and KSTR.

Drawdown Indicators

	FCA	KSTR	Difference
Max Drawdown Largest peak-to-trough decline	-45.56%	-66.46%	+20.90%
Max Drawdown (1Y) Largest decline over 1 year	-11.13%	-17.70%	+6.57%
Max Drawdown (3Y) Largest decline over 3 years	-26.13%	-41.55%	+15.42%
Max Drawdown (5Y) Largest decline over 5 years	-42.47%	-66.46%	+23.99%
Max Drawdown (10Y) Largest decline over 10 years	-42.47%	—	—
Current Drawdown Current decline from peak	-8.87%	-12.20%	+3.33%
Average Drawdown Average peak-to-trough decline	-21.62%	-38.79%	+17.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.87%	6.95%	-3.08%

Volatility

FCA vs. KSTR - Volatility Comparison

The current volatility for First Trust China AlphaDEX Fund (FCA) is 8.36%, while KraneShares SSE STAR Market 50 Index ETF (KSTR) has a volatility of 15.14%. This indicates that FCA experiences smaller price fluctuations and is considered to be less risky than KSTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCA	KSTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.36%	15.14%	-6.78%
Volatility (6M) Calculated over the trailing 6-month period	16.57%	26.19%	-9.62%
Volatility (1Y) Calculated over the trailing 1-year period	22.31%	35.46%	-13.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.59%	38.31%	-10.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.63%	37.69%	-11.06%

FCA vs. KSTR - Expense Ratio Comparison

FCA has a 0.80% expense ratio, which is lower than KSTR's 0.89% expense ratio.

Dividends

FCA vs. KSTR - Dividend Comparison

FCA's dividend yield for the trailing twelve months is around 2.31%, while KSTR has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCA First Trust China AlphaDEX Fund	2.31%	2.67%	5.17%	5.70%	6.00%	4.91%	4.12%	3.73%	3.10%	2.30%	2.51%	4.13%
KSTR KraneShares SSE STAR Market 50 Index 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%

Frequently Asked Questions

Can I hold both FCA and KSTR in my portfolio?

FCA and KSTR have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FCA or KSTR?

KSTR has higher volatility (15.14%) compared to FCA (8.36%). In terms of maximum drawdown, FCA dropped -45.56% vs KSTR's -66.46%.

Which ETF is better, FCA or KSTR?

On 5-year performance, FCA leads with 5.02% vs -0.07% for KSTR. On fees, FCA is cheaper at 0.80% per year. On volatility, FCA has been the lower-risk option at 8.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FCA or KSTR?

Over the 5-year period, FCA has performed better with a 5.02% return vs -0.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FCA or KSTR?

FCA is cheaper with a 0.80% expense ratio, compared with 0.89% for KSTR.

Which ETF pays a higher dividend yield, FCA or KSTR?

FCA has the higher dividend yield at 2.31%, compared with 0.00% for KSTR.

What is the main difference between FCA and KSTR?

FCA tracks NASDAQ AlphaDEX China Index, while KSTR tracks SSE Science and Technology Innovation Board 50 Index. They also come from different issuers: First Trust and KraneShares. Their fees differ too: 0.80% for FCA and 0.89% for KSTR.

Which has better risk-adjusted returns?

KSTR currently has the higher Sharpe Ratio (2.34 vs 2.02), 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.