FDIS vs. FXD

Last updated Aug 2, 2026

FDIS (Fidelity MSCI Consumer Discretionary Index ETF) and FXD (First Trust Consumer Discretionary AlphaDEX Fund) are both Consumer Discretionary Equities funds - FDIS tracks the MSCI USA IMI Consumer Discretionary 25/50 Index while FXD tracks the StrataQuant Consumer Discretionary Index. Both are passively managed. Over the past 10 years, FDIS returned 13.50%/yr vs 8.08%/yr for FXD. Their correlation of 0.86 means they have usually moved in the same direction. FDIS charges 0.08%/yr vs 0.63%/yr for FXD.

Performance

FDIS vs. FXD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity MSCI Consumer Discretionary Index ETF (FDIS) and First Trust Consumer Discretionary AlphaDEX Fund (FXD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDIS achieves a -0.23% return, which is significantly lower than FXD's 2.67% return. Over the past 10 years, FDIS has outperformed FXD with an annualized return of 13.50%, while FXD has yielded a comparatively lower 8.08% annualized return.

FDIS

• 1D: 2.63%
• 1M: -1.18%
• 6M: -1.58%
• YTD: -0.23%
• 1Y: 9.49%
• 3Y*: 11.49%
• 5Y*: 5.36%
• 10Y*: 13.50%
• ALL TIME*: 12.48%

FXD

• 1D: -1.15%
• 1M: 0.45%
• 6M: 1.98%
• YTD: 2.67%
• 1Y: 10.49%
• 3Y*: 7.96%
• 5Y*: 3.57%
• 10Y*: 8.08%
• ALL TIME*: 7.56%

*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)
FDIS Fidelity MSCI Consumer Discretionary Index ETF	$8.73M	$7.77M	$9.21M
FXD First Trust Consumer Discretionary AlphaDEX Fund	$1.22M	$850.69K	$681.18K

FDIS vs. FXD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDIS Fidelity MSCI Consumer Discretionary Index ETF	-0.23%	5.67%	24.43%	40.48%	-35.23%	24.25%	49.50%	27.44%	-0.88%	22.96%
FXD First Trust Consumer Discretionary AlphaDEX Fund	2.67%	6.70%	10.57%	23.39%	-21.56%	22.72%	12.97%	24.22%	-11.60%	19.77%

Correlation

The correlation between FDIS and FXD is 0.76, 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.	0.76
Correlation (3Y) Balances recent behavior with more history.	0.80
Correlation (5Y) Shows whether the relationship held over a longer period.	0.84
Correlation (10Y) Provides a long-term view across more market conditions.	0.85
Correlation (All Time) Calculated using the full available price history since Oct 24, 2013	0.86

The correlation between FDIS and FXD shifts across timeframes, from 0.76 (1 year) to 0.86 (all time), reflecting how their relationship changes across market environments.

FDIS vs. FXD - Sectors Allocation Comparison

Sectors	FDIS	FXD
Consumer Cyclical	96.2%	68.1%
Consumer Defensive	1.2%	7.1%
Industrials	1.1%	8.8%
Technology	1.0%	5.3%
Communication Services	0.3%	8.0%
Healthcare	0.1%	-
Real Estate	0.1%	-
Financial Services	0.1%	-
Basic Materials	-	-
Energy	-	0.9%
Utilities	-	-

Return for Risk

FDIS vs. FXD — Risk / Return Rank

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

FDIS

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

FXD

FXD Risk / Return Rank: 22
FXD Sharpe Ratio Rank: 21
FXD Sortino Ratio Rank: 23
FXD Omega Ratio Rank: 20
FXD Calmar Ratio Rank: 22
FXD Martin Ratio Rank: 22

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.

FDIS vs. FXD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity MSCI Consumer Discretionary Index ETF (FDIS) and First Trust Consumer Discretionary AlphaDEX Fund (FXD). 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.

	FDIS	FXD	Difference
Sharpe ratio: Return per unit of total volatility	0.34	0.46	-0.11
Sortino ratio: Return per unit of downside risk	0.61	0.83	-0.22
Omega ratio: Gain probability vs. loss probability	1.07	1.09	-0.02
Calmar ratio: Return relative to maximum drawdown	0.43	0.65	-0.22
Martin ratio: Return relative to average drawdown	1.24	1.58	-0.34

FDIS vs. FXD - Sharpe Ratio Comparison

The current FDIS Sharpe Ratio is 0.34, which is comparable to the FXD Sharpe Ratio of 0.46. The chart below compares the historical Sharpe Ratios of FDIS and FXD, 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

FDIS vs. FXD - Drawdown Comparison

The maximum FDIS drawdown since its inception was -39.16%, smaller than the maximum FXD drawdown of -65.27%. Use the drawdown chart below to compare losses from any high point for FDIS and FXD.

Drawdown Indicators

	FDIS	FXD	Difference
Max Drawdown Largest peak-to-trough decline	-39.16%	-65.27%	+26.11%
Max Drawdown (1Y) Largest decline over 1 year	-15.50%	-13.94%	-1.56%
Max Drawdown (3Y) Largest decline over 3 years	-27.43%	-26.02%	-1.41%
Max Drawdown (5Y) Largest decline over 5 years	-39.16%	-33.74%	-5.42%
Max Drawdown (10Y) Largest decline over 10 years	-39.16%	-49.54%	+10.38%
Current Drawdown Current decline from peak	-4.81%	-2.82%	-1.99%
Average Drawdown Average peak-to-trough decline	-7.47%	-10.91%	+3.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.36%	5.70%	-0.34%

Volatility

FDIS vs. FXD - Volatility Comparison

Fidelity MSCI Consumer Discretionary Index ETF (FDIS) has a higher volatility of 6.64% compared to First Trust Consumer Discretionary AlphaDEX Fund (FXD) at 5.98%. This indicates that FDIS's price experiences larger fluctuations and is considered to be riskier than FXD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDIS	FXD	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.64%	5.98%	+0.66%
Volatility (6M) Calculated over the trailing 6-month period	14.66%	15.29%	-0.63%
Volatility (1Y) Calculated over the trailing 1-year period	19.43%	19.82%	-0.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.09%	22.81%	+1.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.39%	23.72%	-1.33%

FDIS vs. FXD - Expense Ratio Comparison

FDIS has a 0.08% expense ratio, which is lower than FXD's 0.63% expense ratio.

Dividends

FDIS vs. FXD - Dividend Comparison

FDIS's dividend yield for the trailing twelve months is around 0.73%, more than FXD's 0.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDIS Fidelity MSCI Consumer Discretionary Index ETF	0.73%	0.75%	0.69%	0.78%	1.00%	0.58%	0.59%	1.14%	1.29%	1.00%	1.62%	1.25%
FXD First Trust Consumer Discretionary AlphaDEX Fund	0.60%	0.80%	0.89%	0.70%	1.00%	0.62%	0.42%	0.92%	1.08%	0.93%	1.05%	0.90%

Frequently Asked Questions

Can I hold both FDIS and FXD in my portfolio?

FDIS and FXD have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDIS or FXD?

FDIS has higher volatility (6.64%) compared to FXD (5.98%). In terms of maximum drawdown, FDIS dropped -39.16% vs FXD's -65.27%.

Which ETF is better, FDIS or FXD?

On 10-year performance, FDIS leads with 13.50% vs 8.08% for FXD. On fees, FDIS is cheaper at 0.08% per year. On volatility, FXD has been the lower-risk option at 5.98%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDIS or FXD?

Over the 10-year period, FDIS has performed better with a 13.50% return vs 8.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDIS or FXD?

FDIS is cheaper with a 0.08% expense ratio, compared with 0.63% for FXD.

Which ETF pays a higher dividend yield, FDIS or FXD?

FDIS has the higher dividend yield at 0.73%, compared with 0.60% for FXD.

What is the main difference between FDIS and FXD?

FDIS tracks MSCI USA IMI Consumer Discretionary 25/50 Index, while FXD tracks StrataQuant Consumer Discretionary Index. They also come from different issuers: Fidelity and First Trust. Their fees differ too: 0.08% for FDIS and 0.63% for FXD.

Which has better risk-adjusted returns?

FXD currently has the higher Sharpe Ratio (0.46 vs 0.34), 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.