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FDT vs. EFAV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FDT vs. EFAV

Last updated Aug 2, 2026
Documentation

FDT (First Trust Developed Markets ex-US AlphaDEX Fund) and EFAV (iShares MSCI EAFE Min Vol Factor ETF) are both Foreign Large Cap Equities funds - FDT tracks the NASDAQ AlphaDEX DM Ex-US Index while EFAV tracks the MSCI EAFE Minimum Volatility (USD) Index. Both are passively managed. Over the past 10 years, FDT returned 9.69%/yr vs 6.38%/yr for EFAV. Their 0.80 correlation means they have sometimes moved together and sometimes differently. FDT charges 0.80%/yr vs 0.20%/yr for EFAV.

Performance

FDT vs. EFAV - Performance Comparison

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

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Returns By Period

In the year-to-date period, FDT achieves a 14.23% return, which is significantly higher than EFAV's 9.79% return. Over the past 10 years, FDT has outperformed EFAV with an annualized return of 9.69%, while EFAV has yielded a comparatively lower 6.38% annualized return.

FDT

1D
-0.76%
1M
-4.05%
6M
3.93%
YTD
14.23%
1Y
33.19%
3Y*
22.82%
5Y*
11.18%
10Y*
9.69%
ALL TIME*
6.57%

EFAV

1D
-1.09%
1M
4.40%
6M
6.21%
YTD
9.79%
1Y
16.01%
3Y*
14.35%
5Y*
6.86%
10Y*
6.38%
ALL TIME*
7.28%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

EFAV

iShares MSCI EAFE Min Vol Factor ETF
$54.17M$49.40M$45.31M

FDT

First Trust Developed Markets ex-US AlphaDEX Fund
$16.56M$12.50M$12.04M

FDT vs. EFAV - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FDT
First Trust Developed Markets ex-US AlphaDEX Fund		14.23%52.21%6.97%15.03%-19.51%11.43%4.29%16.82%-19.98%34.42%
EFAV
iShares MSCI EAFE Min Vol Factor ETF		9.79%26.00%5.30%12.52%-15.11%7.20%-0.06%16.67%-5.74%22.24%

Correlation

The correlation between FDT and EFAV is 0.54, 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.

0.54

Correlation (3Y)
Balances recent behavior with more history.

0.68

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.74

Correlation (10Y)
Provides a long-term view across more market conditions.

0.78

Correlation (All Time)
Calculated using the full available price history since Oct 20, 2011

0.80

Over the past year, the correlation between FDT and EFAV has dropped to 0.54 - well below their long-term average of 0.80, suggesting their price drivers have been diverging.

FDT vs. EFAV - Sectors Allocation Comparison

Sectors
FDT
EFAV

Industrials

33.3%
15.7%

Technology

13.1%
4.4%

Consumer Cyclical

11.1%
5.1%

Financial Services

10.0%
19.7%

Basic Materials

8.6%
1.6%

Energy

7.6%
7.7%

Real Estate

5.1%
2.9%

Utilities

4.7%
9.0%

Consumer Defensive

2.7%
12.6%

Communication Services

2.5%
9.1%

Healthcare

1.3%
12.2%

Industrials

FDT
33.3%
EFAV
15.7%

Technology

FDT
13.1%
EFAV
4.4%

Consumer Cyclical

FDT
11.1%
EFAV
5.1%

Financial Services

FDT
10.0%
EFAV
19.7%

Basic Materials

FDT
8.6%
EFAV
1.6%

Energy

FDT
7.6%
EFAV
7.7%

Real Estate

FDT
5.1%
EFAV
2.9%

Utilities

FDT
4.7%
EFAV
9.0%

Consumer Defensive

FDT
2.7%
EFAV
12.6%

Communication Services

FDT
2.5%
EFAV
9.1%

Healthcare

FDT
1.3%
EFAV
12.2%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

First Trust Developed Markets ex-US AlphaDEX Fund

iShares MSCI EAFE Min Vol Factor ETF

Often compared with FDT:
FDT vs. FIDZXFDT vs. VEAFDT vs. QQQFDT vs. SCHFFDT vs. VTIFDT vs. VOOFDT vs. SDY
Often compared with EFAV:
EFAV vs. EFVEFAV vs. EFAEFAV vs. ACWVEFAV vs. EEMVEFAV vs. USMVEFAV vs. EFASEFAV vs. SPLV

Return for Risk

FDT vs. EFAV — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
FDT
FDT Risk / Return Rank: 6868
Overall Rank
FDT Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
FDT Sortino Ratio Rank: 6666
Sortino Ratio Rank
FDT Omega Ratio Rank: 7272
Omega Ratio Rank
FDT Calmar Ratio Rank: 7171
Calmar Ratio Rank
FDT Martin Ratio Rank: 6161
Martin Ratio Rank
EFAV
EFAV Risk / Return Rank: 6969
Overall Rank
EFAV Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
EFAV Sortino Ratio Rank: 7373
Sortino Ratio Rank
EFAV Omega Ratio Rank: 7373
Omega Ratio Rank
EFAV Calmar Ratio Rank: 7575
Calmar Ratio Rank
EFAV Martin Ratio Rank: 5252
Martin Ratio Rank
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.

FDT vs. EFAV - Risk-Adjusted Trends Comparison

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

FDTEFAVDifference
Sharpe ratioReturn per unit of total volatility
1.60
1.64

-0.05

Sortino ratioReturn per unit of downside risk
2.17
2.35

-0.18

Omega ratioGain probability vs. loss probability

1.30

1.30

0.00

Calmar ratioReturn relative to maximum drawdown

2.48

2.62

-0.15

Martin ratioReturn relative to average drawdown

7.32

6.10

+1.22

FDT vs. EFAV - Sharpe Ratio Comparison

The current FDT Sharpe Ratio is 1.60, which is comparable to the EFAV Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of FDT and EFAV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

FDT vs. EFAV - Drawdown Comparison

The maximum FDT drawdown since its inception was -46.10%, which is greater than EFAV's maximum drawdown of -27.56%. Use the drawdown chart below to compare losses from any high point for FDT and EFAV.

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Drawdown Indicators

FDTEFAVDifference

Max Drawdown

Largest peak-to-trough decline

-46.10%

-27.56%

-18.54%

Max Drawdown (1Y)

Largest decline over 1 year

-13.41%

-6.66%

-6.75%

Max Drawdown (3Y)

Largest decline over 3 years

-14.29%

-8.65%

-5.64%

Max Drawdown (5Y)

Largest decline over 5 years

-32.80%

-27.46%

-5.34%

Max Drawdown (10Y)

Largest decline over 10 years

-46.10%

-27.56%

-18.54%

Current Drawdown

Current decline from peak

-10.43%

-1.09%

-9.34%

Average Drawdown

Average peak-to-trough decline

-10.73%

-4.76%

-5.97%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.52%

2.86%

+1.66%

Volatility

FDT vs. EFAV - Volatility Comparison

First Trust Developed Markets ex-US AlphaDEX Fund (FDT) has a higher volatility of 6.33% compared to iShares MSCI EAFE Min Vol Factor ETF (EFAV) at 3.28%. This indicates that FDT's price experiences larger fluctuations and is considered to be riskier than EFAV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FDTEFAVDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.33%

3.28%

+3.05%

Volatility (6M)

Calculated over the trailing 6-month period

18.77%

8.85%

+9.92%

Volatility (1Y)

Calculated over the trailing 1-year period

20.77%

10.67%

+10.10%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.67%

11.88%

+6.79%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.57%

13.03%

+5.54%

FDT vs. EFAV - Expense Ratio Comparison

FDT has a 0.80% expense ratio, which is higher than EFAV's 0.20% expense ratio.

Dividends

FDT vs. EFAV - Dividend Comparison

FDT's dividend yield for the trailing twelve months is around 2.93%, less than EFAV's 3.07% yield.

PositionTTM20252024202320222021202020192018201720162015
EFAV
iShares MSCI EAFE Min Vol Factor ETF		3.07%3.20%3.24%3.08%2.53%2.47%1.33%4.19%3.34%2.45%3.94%2.49%
FDT
First Trust Developed Markets ex-US AlphaDEX Fund		2.93%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

FDT and EFAV have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FDT has higher volatility (6.33%) compared to EFAV (3.28%). In terms of maximum drawdown, FDT dropped -46.10% vs EFAV's -27.56%.

On 10-year performance, FDT leads with 9.69% vs 6.38% for EFAV. On fees, EFAV is cheaper at 0.20% per year. On volatility, EFAV has been the lower-risk option at 3.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, FDT has performed better with a 9.69% return vs 6.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

EFAV is cheaper with a 0.20% expense ratio, compared with 0.80% for FDT.

EFAV has the higher dividend yield at 3.07%, compared with 2.93% for FDT.

FDT tracks NASDAQ AlphaDEX DM Ex-US Index, while EFAV tracks MSCI EAFE Minimum Volatility (USD) Index. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.80% for FDT and 0.20% for EFAV.

EFAV currently has the higher Sharpe Ratio (1.64 vs 1.60), 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.

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