FDN.L vs. FEXU.L

Last updated Jun 4, 2026

FDN.L (First Trust Dow Jones Internet UCITS ETF Class A USD) and FEXU.L (First Trust US Large Cap Core AlphaDEX UCITS ETF) are both exchange-traded funds - FDN.L is a Technology Equities fund tracking the MSCI World/Information Tech NR USD, while FEXU.L is a Large Cap Blend Equities fund tracking the Russell 1000 TR USD. Both are passively managed. Over the past 5 years, FDN.L returned 5.26%/yr vs 12.03%/yr for FEXU.L. A 0.63 correlation means they provide meaningful diversification when combined. FDN.L charges 0.55%/yr vs 0.75%/yr for FEXU.L.

Performance

FDN.L vs. FEXU.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in First Trust Dow Jones Internet UCITS ETF Class A USD (FDN.L) and First Trust US Large Cap Core AlphaDEX UCITS ETF (FEXU.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

FDN.L is traded in GBp, while FEXU.L is traded in USD. To make them comparable, the FEXU.L values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, FDN.L achieves a 3.78% return, which is significantly lower than FEXU.L's 14.79% return.

FDN.L

• 1D: -1.74%
• 1M: 6.51%
• YTD: 3.78%
• 6M: 2.71%
• 1Y: 11.26%
• 3Y*: 17.49%
• 5Y*: 5.26%
• 10Y*: —

FEXU.L

• 1D: 0.44%
• 1M: 5.65%
• YTD: 14.79%
• 6M: 15.34%
• 1Y: 30.72%
• 3Y*: 17.59%
• 5Y*: 12.03%
• 10Y*: 13.68%

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

FDN.L vs. FEXU.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FDN.L First Trust Dow Jones Internet UCITS ETF Class A USD	3.78%	2.35%	32.65%	45.94%	-40.28%	8.39%	48.88%	14.03%	-15.50%
FEXU.L First Trust US Large Cap Core AlphaDEX UCITS ETF	14.79%	7.02%	18.72%	8.91%	-1.84%	28.02%	10.20%	21.26%	-10.33%

Correlation

The correlation between FDN.L and FEXU.L is 0.40, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.40
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (All Time) Calculated using the full available price history since Jun 22, 2018	0.63

Over the past year, the correlation between FDN.L and FEXU.L has dropped to 0.40 - well below their long-term average of 0.63, suggesting their price drivers have been diverging.

FDN.L vs. FEXU.L - Sectors Allocation Comparison

Sectors	FDN.L	FEXU.L
Technology	41.7%	18.8%
Communication Services	27.7%	3.6%
Consumer Cyclical	26.1%	8.5%
Financial Services	2.0%	14.3%
Industrials	1.3%	19.4%
Healthcare	1.1%	8.9%
Basic Materials	-	3.5%
Consumer Defensive	-	4.5%
Energy	-	6.3%
Real Estate	-	4.7%
Utilities	-	7.5%

Return for Risk

FDN.L vs. FEXU.L — Risk / Return Rank

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

FDN.L

FDN.L Risk / Return Rank: 17
FDN.L Sharpe Ratio Rank: 19
FDN.L Sortino Ratio Rank: 18
FDN.L Omega Ratio Rank: 19
FDN.L Calmar Ratio Rank: 16
FDN.L Martin Ratio Rank: 15

FEXU.L

FEXU.L Risk / Return Rank: 81
FEXU.L Sharpe Ratio Rank: 77
FEXU.L Sortino Ratio Rank: 81
FEXU.L Omega Ratio Rank: 73
FEXU.L Calmar Ratio Rank: 89
FEXU.L Martin Ratio Rank: 86

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.

FDN.L vs. FEXU.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Dow Jones Internet UCITS ETF Class A USD (FDN.L) and First Trust US Large Cap Core AlphaDEX UCITS ETF (FEXU.L). 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.

	FDN.L	FEXU.L	Difference
Sharpe ratio: Return per unit of total volatility	0.61	2.53	-1.92
Sortino ratio: Return per unit of downside risk	0.91	3.35	-2.44
Omega ratio: Gain probability vs. loss probability	1.12	1.43	-0.31
Calmar ratio: Return relative to maximum drawdown	0.54	6.85	-6.31
Martin ratio: Return relative to average drawdown	1.24	20.78	-19.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FDN.L vs. FEXU.L - Sharpe Ratio Comparison

The current FDN.L Sharpe Ratio is 0.61, which is lower than the FEXU.L Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of FDN.L and FEXU.L, 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

	FDN.L	FEXU.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.61	2.53	-1.92
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.22	0.77	-0.55
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.79	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.78	-0.43

Drawdowns

FDN.L vs. FEXU.L - Drawdown Comparison

The maximum FDN.L drawdown since its inception was -46.90%, which is greater than FEXU.L's maximum drawdown of -32.12%. Use the drawdown chart below to compare losses from any high point for FDN.L and FEXU.L.

Drawdown Indicators

	FDN.L	FEXU.L	Difference
Max Drawdown Largest peak-to-trough decline	-46.90%	-32.12%	-14.78%
Max Drawdown (1Y) Largest decline over 1 year	-20.87%	-4.47%	-16.40%
Max Drawdown (3Y) Largest decline over 3 years	-27.22%	-21.55%	-5.67%
Max Drawdown (5Y) Largest decline over 5 years	-46.90%	-21.55%	-25.35%
Max Drawdown (10Y) Largest decline over 10 years	—	-32.12%	—
Current Drawdown Current decline from peak	-3.39%	0.00%	-3.39%
Average Drawdown Average peak-to-trough decline	-14.81%	-4.24%	-10.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.07%	1.47%	+7.60%

Volatility

FDN.L vs. FEXU.L - Volatility Comparison

First Trust Dow Jones Internet UCITS ETF Class A USD (FDN.L) has a higher volatility of 5.76% compared to First Trust US Large Cap Core AlphaDEX UCITS ETF (FEXU.L) at 4.32%. This indicates that FDN.L's price experiences larger fluctuations and is considered to be riskier than FEXU.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDN.L	FEXU.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.76%	4.32%	+1.44%
Volatility (6M) Calculated over the trailing 6-month period	14.18%	8.60%	+5.58%
Volatility (1Y) Calculated over the trailing 1-year period	18.42%	12.14%	+6.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.41%	15.66%	+8.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.51%	17.33%	+7.18%

FDN.L vs. FEXU.L - Expense Ratio Comparison

FDN.L has a 0.55% expense ratio, which is lower than FEXU.L's 0.75% expense ratio.

Dividends

FDN.L vs. FEXU.L - Dividend Comparison

Neither FDN.L nor FEXU.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FDN.L and FEXU.L in my portfolio?

FDN.L and FEXU.L have a correlation of 0.40, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FDN.L or FEXU.L?

On fees, FDN.L is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FDN.L or FEXU.L?

FDN.L is cheaper with a 0.55% expense ratio, compared with 0.75% for FEXU.L.

What is the main difference between FDN.L and FEXU.L?

FDN.L is categorized as Technology Equities, while FEXU.L is Large Cap Blend Equities. FDN.L tracks MSCI World/Information Tech NR USD, while FEXU.L tracks Russell 1000 TR USD. Their fees differ too: 0.55% for FDN.L and 0.75% for FEXU.L.