FDT vs. FDTS

Last updated Jun 9, 2026

FDT (First Trust Developed Markets ex-US AlphaDEX Fund) and FDTS (First Trust Developed Markets ex-US Small Cap AlphaDEX Fund) are both exchange-traded funds - FDT is a Foreign Large Cap Equities fund tracking the NASDAQ AlphaDEX DM Ex-US Index, while FDTS is a Foreign Small & Mid Cap Equities fund tracking the NASDAQ AlphaDEX DM Ex-US Small Cap Index. Both are passively managed. Over the past 10 years, FDT returned 10.61%/yr vs 9.93%/yr for FDTS. A 0.57 correlation means they provide meaningful diversification when combined. Both charge a 0.80% expense ratio.

Performance

FDT vs. FDTS - 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 First Trust Developed Markets ex-US Small Cap AlphaDEX Fund (FDTS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDT achieves a 20.41% return, which is significantly higher than FDTS's 14.34% return. Over the past 10 years, FDT has outperformed FDTS with an annualized return of 10.61%, while FDTS has yielded a comparatively lower 9.93% annualized return.

FDT

• 1D: 1.18%
• 1M: -3.96%
• YTD: 20.41%
• 6M: 22.67%
• 1Y: 47.32%
• 3Y*: 27.66%
• 5Y*: 11.81%
• 10Y*: 10.61%

FDTS

• 1D: 1.24%
• 1M: -8.33%
• YTD: 14.34%
• 6M: 16.46%
• 1Y: 40.77%
• 3Y*: 23.77%
• 5Y*: 10.11%
• 10Y*: 9.93%

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

FDT vs. FDTS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDT First Trust Developed Markets ex-US AlphaDEX Fund	20.41%	52.21%	6.97%	15.03%	-19.51%	11.43%	4.29%	16.82%	-19.98%	34.42%
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund	14.34%	51.17%	2.44%	10.96%	-15.34%	11.79%	12.90%	18.71%	-23.71%	36.01%

Correlation

The correlation between FDT and FDTS is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (10Y) Calculated over the trailing 10-year period	0.63
Correlation (All Time) Calculated using the full available price history since Feb 17, 2012	0.57

Over the past year, FDT and FDTS have become more correlated (0.90) than their long-term average of 0.57, meaning their price movements have been converging.

FDT vs. FDTS - Sectors Allocation Comparison

Sectors	FDT	FDTS
Industrials	34.0%	23.0%
Consumer Cyclical	11.5%	18.4%
Financial Services	10.2%	11.7%
Basic Materials	9.6%	11.2%
Energy	9.2%	4.3%
Technology	8.1%	13.4%
Real Estate	5.3%	4.3%
Utilities	5.2%	2.7%
Consumer Defensive	2.8%	5.0%
Communication Services	2.7%	3.0%
Healthcare	1.4%	3.0%

Return for Risk

FDT vs. FDTS — Risk / Return Rank

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

FDT

FDT Risk / Return Rank: 80
FDT Sharpe Ratio Rank: 85
FDT Sortino Ratio Rank: 80
FDT Omega Ratio Rank: 83
FDT Calmar Ratio Rank: 77
FDT Martin Ratio Rank: 78

FDTS

FDTS Risk / Return Rank: 74
FDTS Sharpe Ratio Rank: 80
FDTS Sortino Ratio Rank: 75
FDTS Omega Ratio Rank: 76
FDTS Calmar Ratio Rank: 71
FDTS Martin Ratio Rank: 69

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.

FDT vs. FDTS - 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 First Trust Developed Markets ex-US Small Cap AlphaDEX Fund (FDTS). 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.

	FDT	FDTS	Difference
Sharpe ratio: Return per unit of total volatility	2.49	2.32	+0.17
Sortino ratio: Return per unit of downside risk	3.18	3.01	+0.17
Omega ratio: Gain probability vs. loss probability	1.45	1.40	+0.05
Calmar ratio: Return relative to maximum drawdown	3.55	3.25	+0.30
Martin ratio: Return relative to average drawdown	13.67	11.52	+2.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FDT vs. FDTS - Sharpe Ratio Comparison

The current FDT Sharpe Ratio is 2.49, which is comparable to the FDTS Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of FDT and FDTS, 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

	FDT	FDTS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.49	2.32	+0.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	0.35	+0.30
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	0.40	+0.17
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.36	+0.02

Drawdowns

FDT vs. FDTS - Drawdown Comparison

The maximum FDT drawdown since its inception was -46.10%, smaller than the maximum FDTS drawdown of -51.26%. Use the drawdown chart below to compare losses from any high point for FDT and FDTS.

Drawdown Indicators

	FDT	FDTS	Difference
Max Drawdown Largest peak-to-trough decline	-46.10%	-51.26%	+5.16%
Max Drawdown (1Y) Largest decline over 1 year	-13.41%	-12.61%	-0.80%
Max Drawdown (3Y) Largest decline over 3 years	-14.29%	-13.19%	-1.10%
Max Drawdown (5Y) Largest decline over 5 years	-33.04%	-33.11%	+0.07%
Max Drawdown (10Y) Largest decline over 10 years	-46.10%	-51.26%	+5.16%
Current Drawdown Current decline from peak	-5.58%	-8.33%	+2.75%
Average Drawdown Average peak-to-trough decline	-10.77%	-10.65%	-0.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.47%	3.55%	-0.08%

Volatility

FDT vs. FDTS - Volatility Comparison

First Trust Developed Markets ex-US AlphaDEX Fund (FDT) has a higher volatility of 8.24% compared to First Trust Developed Markets ex-US Small Cap AlphaDEX Fund (FDTS) at 7.49%. This indicates that FDT's price experiences larger fluctuations and is considered to be riskier than FDTS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDT	FDTS	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.24%	7.49%	+0.75%
Volatility (6M) Calculated over the trailing 6-month period	16.73%	14.83%	+1.90%
Volatility (1Y) Calculated over the trailing 1-year period	19.12%	17.67%	+1.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.36%	29.35%	-10.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.59%	24.88%	-6.29%

FDT vs. FDTS - Expense Ratio Comparison

Both FDT and FDTS have an expense ratio of 0.80%.

Dividends

FDT vs. FDTS - Dividend Comparison

FDT's dividend yield for the trailing twelve months is around 2.96%, more than FDTS's 2.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDT First Trust Developed Markets ex-US AlphaDEX Fund	2.96%	3.27%	3.89%	4.36%	2.29%	3.80%	2.42%	2.78%	2.13%	1.57%	1.76%	1.83%
FDTS First Trust Developed Markets ex-US Small Cap AlphaDEX Fund	2.63%	2.94%	3.94%	2.90%	3.71%	3.01%	2.02%	2.30%	1.96%	2.08%	1.78%	1.73%

Frequently Asked Questions

Can I hold both FDT and FDTS in my portfolio?

FDT and FDTS have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDT or FDTS?

FDT has higher volatility (8.24%) compared to FDTS (7.49%). In terms of maximum drawdown, FDT dropped -46.10% vs FDTS's -51.26%.

Which ETF is better, FDT or FDTS?

On 10-year performance, FDT leads with 10.61% vs 9.93% for FDTS. Both ETFs have the same 0.80% expense ratio. On volatility, FDTS has been the lower-risk option at 7.49%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDT or FDTS?

Over the 10-year period, FDT has performed better with a 10.61% return vs 9.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDT or FDTS?

FDT and FDTS have the same expense ratio: 0.80% per year.

Which ETF pays a higher dividend yield, FDT or FDTS?

FDT has the higher dividend yield at 2.96%, compared with 2.63% for FDTS.

What is the main difference between FDT and FDTS?

FDT is categorized as Foreign Large Cap Equities, while FDTS is Foreign Small & Mid Cap Equities. FDT tracks NASDAQ AlphaDEX DM Ex-US Index, while FDTS tracks NASDAQ AlphaDEX DM Ex-US Small Cap Index.

Which has better risk-adjusted returns?

FDT currently has the higher Sharpe Ratio (2.49 vs 2.32), 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.