FEP vs. IGLD

Last updated Apr 2, 2026

Compare and contrast key facts about First Trust Europe AlphaDEX Fund (FEP) and FT Cboe Vest Gold Strategy Target Income ETF (IGLD).

FEP and IGLD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FEP is a passively managed fund by First Trust that tracks the performance of the Defined Europe Index. It was launched on Apr 26, 2011. IGLD is an actively managed fund by First Trust. It was launched on Mar 2, 2021.

Performance

FEP vs. IGLD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Europe AlphaDEX Fund (FEP) and FT Cboe Vest Gold Strategy Target Income ETF (IGLD). The values are adjusted to include any dividend payments, if applicable.

FEP vs. IGLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FEP First Trust Europe AlphaDEX Fund	3.30%	55.72%	3.38%	16.85%	-22.97%	12.88%
IGLD FT Cboe Vest Gold Strategy Target Income ETF	7.26%	47.46%	19.36%	9.24%	-2.34%	4.30%

Returns By Period

In the year-to-date period, FEP achieves a 3.30% return, which is significantly lower than IGLD's 7.26% return.

FEP

• 1D: 1.54%
• 1M: -4.13%
• YTD: 3.30%
• 6M: 8.62%
• 1Y: 40.34%
• 3Y*: 21.59%
• 5Y*: 9.91%
• 10Y*: 9.94%

IGLD

• 1D: 1.19%
• 1M: -10.51%
• YTD: 7.26%
• 6M: 18.12%
• 1Y: 40.06%
• 3Y*: 24.96%
• 5Y*: 15.78%
• 10Y*: —

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

FEP vs. IGLD - Expense Ratio Comparison

FEP has a 0.80% expense ratio, which is lower than IGLD's 0.85% expense ratio.

IGLD

FT Cboe Vest Gold Strategy Target Income ETF

FEP

First Trust Europe AlphaDEX Fund

Return for Risk

FEP vs. IGLD — Risk / Return Rank

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

FEP

FEP Risk / Return Rank: 91
FEP Sharpe Ratio Rank: 91
FEP Sortino Ratio Rank: 90
FEP Omega Ratio Rank: 91
FEP Calmar Ratio Rank: 91
FEP Martin Ratio Rank: 90

IGLD

IGLD Risk / Return Rank: 82
IGLD Sharpe Ratio Rank: 83
IGLD Sortino Ratio Rank: 81
IGLD Omega Ratio Rank: 83
IGLD Calmar Ratio Rank: 80
IGLD Martin Ratio Rank: 83

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. IGLD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Europe AlphaDEX Fund (FEP) and FT Cboe Vest Gold Strategy Target Income ETF (IGLD). 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	IGLD	Difference
Sharpe ratio Return per unit of total volatility	2.08	1.69	+0.39
Sortino ratio Return per unit of downside risk	2.66	2.17	+0.50
Omega ratio Gain probability vs. loss probability	1.41	1.33	+0.08
Calmar ratio Return relative to maximum drawdown	3.31	2.27	+1.04
Martin ratio Return relative to average drawdown	12.59	9.64	+2.95
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FEP vs. IGLD - Sharpe Ratio Comparison

The current FEP Sharpe Ratio is 2.08, which is comparable to the IGLD Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of FEP and IGLD, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FEP	IGLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.08	1.69	+0.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	1.06	-0.56
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	1.06	-0.74

Correlation

The correlation between FEP and IGLD is 0.27, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

FEP vs. IGLD - Dividend Comparison

FEP's dividend yield for the trailing twelve months is around 3.17%, less than IGLD's 13.93% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FEP First Trust Europe AlphaDEX Fund	3.17%	3.33%	4.94%	3.27%	3.00%	3.49%	2.32%	2.63%	2.62%	1.65%	2.14%	2.20%
IGLD FT Cboe Vest Gold Strategy Target Income ETF	13.93%	9.91%	20.81%	7.85%	4.45%	2.24%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

FEP vs. IGLD - Drawdown Comparison

The maximum FEP drawdown since its inception was -46.05%, which is greater than IGLD's maximum drawdown of -18.59%. Use the drawdown chart below to compare losses from any high point for FEP and IGLD.

Drawdown Indicators

	FEP	IGLD	Difference
Max Drawdown Largest peak-to-trough decline	-46.05%	-18.59%	-27.46%
Max Drawdown (1Y) Largest decline over 1 year	-12.31%	-17.56%	+5.25%
Max Drawdown (5Y) Largest decline over 5 years	-38.99%	-18.59%	-20.40%
Max Drawdown (10Y) Largest decline over 10 years	-46.05%	—	—
Current Drawdown Current decline from peak	-6.38%	-10.51%	+4.13%
Average Drawdown Average peak-to-trough decline	-12.14%	-5.01%	-7.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.23%	4.13%	-0.90%

Volatility

FEP vs. IGLD - Volatility Comparison

The current volatility for First Trust Europe AlphaDEX Fund (FEP) is 8.46%, while FT Cboe Vest Gold Strategy Target Income ETF (IGLD) has a volatility of 10.62%. This indicates that FEP experiences smaller price fluctuations and is considered to be less risky than IGLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEP	IGLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.46%	10.62%	-2.16%
Volatility (6M) Calculated over the trailing 6-month period	12.63%	21.23%	-8.60%
Volatility (1Y) Calculated over the trailing 1-year period	19.48%	23.76%	-4.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.57%	14.90%	+4.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.65%	14.86%	+5.79%