FDT vs. GMOI

Last updated Jun 24, 2026

FDT (First Trust Developed Markets ex-US AlphaDEX Fund) and GMOI (GMO International Value ETF) are both Foreign Large Cap Equities funds - FDT tracks the NASDAQ AlphaDEX DM Ex-US Index while GMOI tracks the MSCI World ex USA Value. Both are passively managed. Over the past year, FDT returned 46.20% vs 35.21% for GMOI. A 0.77 correlation means they provide meaningful diversification when combined. FDT charges 0.80%/yr vs 0.60%/yr for GMOI.

Performance

FDT vs. GMOI - 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 GMO International Value ETF (GMOI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDT achieves a 20.49% return, which is significantly higher than GMOI's 11.52% return.

FDT

• 1D: -4.44%
• 1M: -1.74%
• YTD: 20.49%
• 6M: 19.93%
• 1Y: 46.20%
• 3Y*: 28.02%
• 5Y*: 12.26%
• 10Y*: 11.13%

GMOI

• 1D: -1.03%
• 1M: -1.76%
• YTD: 11.52%
• 6M: 11.19%
• 1Y: 35.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FDT vs. GMOI - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FDT First Trust Developed Markets ex-US AlphaDEX Fund	20.49%	52.21%	-2.29%
GMOI GMO International Value ETF	11.52%	45.64%	-4.48%

Correlation

The correlation between FDT and GMOI is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.78
Correlation (All Time) Calculated using the full available price history since Oct 29, 2024	0.77

The correlation between FDT and GMOI has been stable across timeframes, ranging from 0.77 to 0.78 - a consistent structural relationship.

Return for Risk

FDT vs. GMOI — Risk / Return Rank

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

FDT

FDT Risk / Return Rank: 73
FDT Sharpe Ratio Rank: 76
FDT Sortino Ratio Rank: 69
FDT Omega Ratio Rank: 76
FDT Calmar Ratio Rank: 72
FDT Martin Ratio Rank: 74

GMOI

GMOI Risk / Return Rank: 85
GMOI Sharpe Ratio Rank: 87
GMOI Sortino Ratio Rank: 87
GMOI Omega Ratio Rank: 83
GMOI Calmar Ratio Rank: 84
GMOI Martin Ratio Rank: 85

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. GMOI - 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 GMO International Value ETF (GMOI). 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.

	FDT	GMOI	Difference
Sharpe ratio: Return per unit of total volatility	2.30	2.64	-0.34
Sortino ratio: Return per unit of downside risk	2.95	3.65	-0.70
Omega ratio: Gain probability vs. loss probability	1.42	1.47	-0.04
Calmar ratio: Return relative to maximum drawdown	3.46	4.23	-0.77
Martin ratio: Return relative to average drawdown	13.03	16.65	-3.62

FDT vs. GMOI - Sharpe Ratio Comparison

The current FDT Sharpe Ratio is 2.30, which is comparable to the GMOI Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of FDT and GMOI, 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

FDT vs. GMOI - Drawdown Comparison

The maximum FDT drawdown since its inception was -46.10%, which is greater than GMOI's maximum drawdown of -14.67%. Use the drawdown chart below to compare losses from any high point for FDT and GMOI.

Drawdown Indicators

	FDT	GMOI	Difference
Max Drawdown Largest peak-to-trough decline	-46.10%	-14.67%	-31.43%
Max Drawdown (1Y) Largest decline over 1 year	-13.41%	-8.36%	-5.05%
Max Drawdown (3Y) Largest decline over 3 years	-14.29%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-32.80%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-46.10%	—	—
Current Drawdown Current decline from peak	-5.52%	-2.63%	-2.89%
Average Drawdown Average peak-to-trough decline	-10.75%	-1.69%	-9.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.56%	2.12%	+1.44%

Volatility

FDT vs. GMOI - Volatility Comparison

First Trust Developed Markets ex-US AlphaDEX Fund (FDT) has a higher volatility of 9.79% compared to GMO International Value ETF (GMOI) at 3.99%. This indicates that FDT's price experiences larger fluctuations and is considered to be riskier than GMOI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDT	GMOI	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.79%	3.99%	+5.80%
Volatility (6M) Calculated over the trailing 6-month period	18.03%	10.67%	+7.36%
Volatility (1Y) Calculated over the trailing 1-year period	20.21%	13.40%	+6.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.58%	15.57%	+3.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.54%	15.57%	+2.97%

FDT vs. GMOI - Expense Ratio Comparison

FDT has a 0.80% expense ratio, which is higher than GMOI's 0.60% expense ratio.

Dividends

FDT vs. GMOI - Dividend Comparison

FDT's dividend yield for the trailing twelve months is around 2.96%, more than GMOI's 2.45% 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%
GMOI GMO International Value ETF	2.45%	2.74%	0.54%	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 FDT and GMOI in my portfolio?

FDT and GMOI have a correlation of 0.78, 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 GMOI?

FDT has higher volatility (9.79%) compared to GMOI (3.99%). In terms of maximum drawdown, FDT dropped -46.10% vs GMOI's -14.67%.

Which ETF is better, FDT or GMOI?

On 1-year performance, FDT leads with 46.20% vs 35.21% for GMOI. On fees, GMOI is cheaper at 0.60% per year. On volatility, GMOI has been the lower-risk option at 3.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FDT or GMOI?

Over the 1-year period, FDT has performed better with a 46.20% return vs 35.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FDT or GMOI?

GMOI is cheaper with a 0.60% expense ratio, compared with 0.80% for FDT.

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

FDT has the higher dividend yield at 2.96%, compared with 2.45% for GMOI.

What is the main difference between FDT and GMOI?

FDT tracks NASDAQ AlphaDEX DM Ex-US Index, while GMOI tracks MSCI World ex USA Value. They also come from different issuers: First Trust and GMO. Their fees differ too: 0.80% for FDT and 0.60% for GMOI.

Which has better risk-adjusted returns?

GMOI currently has the higher Sharpe Ratio (2.64 vs 2.30), 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.