FCA vs. PCCE

Last updated Aug 2, 2026

FCA (First Trust China AlphaDEX Fund) and PCCE (Polen Capital China Growth ETF) are both China Equities funds. FCA is passively managed, while PCCE is actively managed. Over the past year, FCA returned 11.99% vs 1.59% for PCCE. Their 0.64 correlation means they have sometimes moved together and sometimes differently. FCA charges 0.80%/yr vs 1.00%/yr for PCCE.

Performance

FCA vs. PCCE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust China AlphaDEX Fund (FCA) and Polen Capital China Growth ETF (PCCE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCA achieves a -1.73% return, which is significantly higher than PCCE's -3.32% return.

FCA

• 1D: 0.13%
• 1M: 2.89%
• 6M: -13.34%
• YTD: -1.73%
• 1Y: 11.99%
• 3Y*: 14.04%
• 5Y*: 3.42%
• 10Y*: 7.88%
• ALL TIME*: 2.82%

PCCE

• 1D: 1.00%
• 1M: 3.18%
• 6M: -6.40%
• YTD: -3.32%
• 1Y: 1.59%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.33%

*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)
FCA First Trust China AlphaDEX Fund	$167.08K	$290.49K	$1.96M
PCCE Polen Capital China Growth ETF	$4.91K	$4.04K	$4.19K

FCA vs. PCCE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FCA First Trust China AlphaDEX Fund	-1.73%	45.20%	6.78%
PCCE Polen Capital China Growth ETF	-3.32%	23.07%	10.79%

Correlation

The correlation between FCA and PCCE is 0.59, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.59
Correlation (All Time) Calculated using the full available price history since Mar 15, 2024	0.64

The correlation between FCA and PCCE has been stable across timeframes, ranging from 0.59 to 0.64 - a consistent structural relationship.

FCA vs. PCCE - Sectors Allocation Comparison

Sectors	FCA	PCCE
Industrials	22.3%	13.6%
Financial Services	21.0%	15.5%
Basic Materials	17.2%	7.7%
Technology	15.2%	6.8%
Energy	13.5%	-
Healthcare	3.2%	10.5%
Communication Services	2.7%	20.3%
Utilities	2.4%	-
Consumer Cyclical	1.0%	14.2%
Real Estate	1.0%	7.9%
Consumer Defensive	0.5%	3.7%

Return for Risk

FCA vs. PCCE — Risk / Return Rank

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

FCA

FCA Risk / Return Rank: 20
FCA Sharpe Ratio Rank: 21
FCA Sortino Ratio Rank: 21
FCA Omega Ratio Rank: 21
FCA Calmar Ratio Rank: 18
FCA Martin Ratio Rank: 19

PCCE

PCCE Risk / Return Rank: 11
PCCE Sharpe Ratio Rank: 11
PCCE Sortino Ratio Rank: 11
PCCE Omega Ratio Rank: 11
PCCE Calmar Ratio Rank: 11
PCCE Martin Ratio Rank: 11

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.

FCA vs. PCCE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust China AlphaDEX Fund (FCA) and Polen Capital China Growth ETF (PCCE). 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.

	FCA	PCCE	Difference
Sharpe ratio: Return per unit of total volatility	0.44	0.01	+0.43
Sortino ratio: Return per unit of downside risk	0.73	0.15	+0.58
Omega ratio: Gain probability vs. loss probability	1.09	1.02	+0.07
Calmar ratio: Return relative to maximum drawdown	0.43	0.01	+0.42
Martin ratio: Return relative to average drawdown	1.23	0.02	+1.21

FCA vs. PCCE - Sharpe Ratio Comparison

The current FCA Sharpe Ratio is 0.44, which is higher than the PCCE Sharpe Ratio of 0.01. The chart below compares the historical Sharpe Ratios of FCA and PCCE, 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

FCA vs. PCCE - Drawdown Comparison

The maximum FCA drawdown since its inception was -45.56%, which is greater than PCCE's maximum drawdown of -26.38%. Use the drawdown chart below to compare losses from any high point for FCA and PCCE.

Drawdown Indicators

	FCA	PCCE	Difference
Max Drawdown Largest peak-to-trough decline	-45.56%	-26.38%	-19.18%
Max Drawdown (1Y) Largest decline over 1 year	-24.11%	-16.59%	-7.52%
Max Drawdown (3Y) Largest decline over 3 years	-26.13%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-42.47%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-42.47%	—	—
Current Drawdown Current decline from peak	-19.71%	-11.78%	-7.93%
Average Drawdown Average peak-to-trough decline	-21.61%	-10.18%	-11.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.38%	9.06%	-0.68%

Volatility

FCA vs. PCCE - Volatility Comparison

First Trust China AlphaDEX Fund (FCA) has a higher volatility of 6.73% compared to Polen Capital China Growth ETF (PCCE) at 6.37%. This indicates that FCA's price experiences larger fluctuations and is considered to be riskier than PCCE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCA	PCCE	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.73%	6.37%	+0.36%
Volatility (6M) Calculated over the trailing 6-month period	18.02%	15.32%	+2.70%
Volatility (1Y) Calculated over the trailing 1-year period	23.46%	20.03%	+3.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.77%	25.90%	+1.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.74%	25.90%	+0.84%

FCA vs. PCCE - Expense Ratio Comparison

FCA has a 0.80% expense ratio, which is lower than PCCE's 1.00% expense ratio.

Dividends

FCA vs. PCCE - Dividend Comparison

FCA's dividend yield for the trailing twelve months is around 2.87%, more than PCCE's 2.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCA First Trust China AlphaDEX Fund	2.87%	2.67%	5.17%	5.70%	6.00%	4.91%	4.12%	3.73%	3.10%	2.30%	2.51%	4.13%
PCCE Polen Capital China Growth ETF	2.36%	2.29%	1.95%	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 PCCE in my portfolio?

FCA and PCCE have a correlation of 0.59, 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 PCCE?

FCA has higher volatility (6.73%) compared to PCCE (6.37%). In terms of maximum drawdown, FCA dropped -45.56% vs PCCE's -26.38%.

Which ETF is better, FCA or PCCE?

On 1-year performance, FCA leads with 11.99% vs 1.59% for PCCE. On fees, FCA is cheaper at 0.80% per year. On volatility, PCCE has been the lower-risk option at 6.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FCA or PCCE?

Over the 1-year period, FCA has performed better with a 11.99% return vs 1.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FCA or PCCE?

FCA is cheaper with a 0.80% expense ratio, compared with 1.00% for PCCE.

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

FCA has the higher dividend yield at 2.87%, compared with 2.36% for PCCE.

What is the main difference between FCA and PCCE?

They also come from different issuers: First Trust and Polen. Their fees differ too: 0.80% for FCA and 1.00% for PCCE.

Which has better risk-adjusted returns?

FCA currently has the higher Sharpe Ratio (0.44 vs 0.01), 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.