FEP vs. EUSC

Last updated Jun 3, 2026

FEP (First Trust Europe AlphaDEX Fund) and EUSC (WisdomTree Europe Hedged SmallCap Equity Fund) are both Europe Equities funds - FEP tracks the Defined Europe Index while EUSC tracks the WisdomTree Europe Hedged SmallCap Equity Index. Both are passively managed. FEP charges 0.80%/yr vs 0.58%/yr for EUSC.

Performance

FEP vs. EUSC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Europe AlphaDEX Fund (FEP) and WisdomTree Europe Hedged SmallCap Equity Fund (EUSC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FEP

• 1D: 0.44%
• 1M: 2.53%
• YTD: 11.01%
• 6M: 16.91%
• 1Y: 30.38%
• 3Y*: 25.14%
• 5Y*: 9.81%
• 10Y*: 10.37%

EUSC

• 1D: 0.00%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FEP vs. EUSC - Yearly Performance Comparison

	2026 (YTD)
FEP First Trust Europe AlphaDEX Fund	0.13%
EUSC WisdomTree Europe Hedged SmallCap Equity Fund	0.00%

FEP vs. EUSC - Sectors Allocation Comparison

Sectors	FEP	EUSC
Industrials	25.4%	20.1%
Basic Materials	11.3%	6.5%
Energy	11.0%	3.7%
Consumer Cyclical	10.7%	9.1%
Financial Services	9.8%	28.4%
Consumer Defensive	8.1%	4.1%
Utilities	7.1%	6.5%
Real Estate	5.2%	9.3%
Healthcare	4.8%	2.9%
Communication Services	3.7%	5.0%
Technology	3.0%	4.4%

Return for Risk

FEP vs. EUSC — Risk / Return Rank

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

FEP

FEP Risk / Return Rank: 53
FEP Sharpe Ratio Rank: 52
FEP Sortino Ratio Rank: 51
FEP Omega Ratio Rank: 52
FEP Calmar Ratio Rank: 53
FEP Martin Ratio Rank: 58

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.

FEP vs. EUSC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Europe AlphaDEX Fund (FEP) and WisdomTree Europe Hedged SmallCap Equity Fund (EUSC). 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.

	FEP	EUSC	Difference
Sharpe ratio Return per unit of total volatility	1.83	—	—
Sortino ratio Return per unit of downside risk	2.50	—	—
Omega ratio Gain probability vs. loss probability	1.32	—	—
Calmar ratio Return relative to maximum drawdown	2.68	—	—
Martin ratio Return relative to average drawdown	10.42	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FEP	EUSC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.83	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	—	—

Drawdowns

FEP vs. EUSC - Drawdown Comparison

The maximum FEP drawdown since its inception was -46.05%, which is greater than EUSC's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for FEP and EUSC.

Drawdown Indicators

	FEP	EUSC	Difference
Max Drawdown Largest peak-to-trough decline	-46.05%	0.00%	-46.05%
Max Drawdown (1Y) Largest decline over 1 year	-12.13%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-15.83%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-38.99%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-46.05%	—	—
Current Drawdown Current decline from peak	-0.55%	0.00%	-0.55%
Average Drawdown Average peak-to-trough decline	-12.03%	0.00%	-12.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.11%	—	—

Volatility

Volatility by Period

	FEP	EUSC	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.90%	—	—
Volatility (6M) Calculated over the trailing 6-month period	13.92%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	16.77%	0.00%	+16.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.67%	0.00%	+19.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.73%	0.00%	+20.73%

FEP vs. EUSC - Expense Ratio Comparison

FEP has a 0.80% expense ratio, which is higher than EUSC's 0.58% expense ratio.

Dividends

FEP vs. EUSC - Dividend Comparison

FEP's dividend yield for the trailing twelve months is around 2.95%, while EUSC has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EUSC WisdomTree Europe Hedged SmallCap Equity Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FEP First Trust Europe AlphaDEX Fund	2.95%	3.33%	4.94%	3.27%	3.00%	3.49%	2.32%	2.63%	2.62%	1.65%	2.14%	2.20%

Frequently Asked Questions

Which ETF is better, FEP or EUSC?

On fees, EUSC is cheaper at 0.58% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FEP or EUSC?

EUSC is cheaper with a 0.58% expense ratio, compared with 0.80% for FEP.

Which ETF pays a higher dividend yield, FEP or EUSC?

FEP has the higher dividend yield at 2.95%, compared with 0.00% for EUSC.

What is the main difference between FEP and EUSC?

FEP tracks Defined Europe Index, while EUSC tracks WisdomTree Europe Hedged SmallCap Equity Index. They also come from different issuers: First Trust and WisdomTree. Their fees differ too: 0.80% for FEP and 0.58% for EUSC.