FEX vs. BBUS

Last updated Jun 24, 2026

FEX (First Trust Large Cap Core AlphaDEX Fund) and BBUS (JPMorgan BetaBuilders U.S. Equity ETF) are both Large Cap Blend Equities funds - FEX tracks the Nasdaq AlphaDEX Large Cap Core Index while BBUS tracks the Morningstar US Target Market Exposure Index. Both are passively managed. Over the past 5 years, FEX returned 11.42%/yr vs 12.52%/yr for BBUS. Their correlation of 0.90 suggests significant overlap in exposure. FEX charges 0.57%/yr vs 0.02%/yr for BBUS.

Performance

FEX vs. BBUS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Large Cap Core AlphaDEX Fund (FEX) and JPMorgan BetaBuilders U.S. Equity ETF (BBUS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FEX achieves a 16.10% return, which is significantly higher than BBUS's 7.57% return.

FEX

• 1D: -1.34%
• 1M: 3.10%
• YTD: 16.10%
• 6M: 14.91%
• 1Y: 28.96%
• 3Y*: 20.58%
• 5Y*: 11.42%
• 10Y*: 13.56%

BBUS

• 1D: -1.68%
• 1M: -1.53%
• YTD: 7.57%
• 6M: 6.62%
• 1Y: 22.78%
• 3Y*: 20.70%
• 5Y*: 12.52%
• 10Y*: —

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

FEX vs. BBUS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FEX First Trust Large Cap Core AlphaDEX Fund	16.10%	15.05%	17.07%	14.31%	-11.86%	26.83%	14.28%	12.37%
BBUS JPMorgan BetaBuilders U.S. Equity ETF	7.57%	17.77%	24.89%	27.20%	-19.46%	27.13%	20.69%	16.26%

Correlation

The correlation between FEX and BBUS is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (All Time) Calculated using the full available price history since Mar 13, 2019	0.90

The correlation between FEX and BBUS shifts across timeframes, from 0.80 (1 year) to 0.90 (all time), reflecting how their relationship changes across market environments.

FEX vs. BBUS - Sectors Allocation Comparison

Sectors	FEX	BBUS
Technology	22.2%	38.1%
Industrials	18.8%	7.4%
Financial Services	13.6%	11.2%
Healthcare	8.8%	8.0%
Consumer Cyclical	8.3%	9.1%
Utilities	7.0%	2.6%
Energy	5.6%	3.0%
Real Estate	4.5%	1.7%
Consumer Defensive	4.3%	4.4%
Basic Materials	3.5%	1.2%
Communication Services	3.4%	10.0%

Return for Risk

FEX vs. BBUS — Risk / Return Rank

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

FEX

FEX Risk / Return Rank: 78
FEX Sharpe Ratio Rank: 74
FEX Sortino Ratio Rank: 74
FEX Omega Ratio Rank: 70
FEX Calmar Ratio Rank: 87
FEX Martin Ratio Rank: 85

BBUS

BBUS Risk / Return Rank: 56
BBUS Sharpe Ratio Rank: 56
BBUS Sortino Ratio Rank: 54
BBUS Omega Ratio Rank: 55
BBUS Calmar Ratio Rank: 52
BBUS Martin Ratio Rank: 63

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.

FEX vs. BBUS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Large Cap Core AlphaDEX Fund (FEX) and JPMorgan BetaBuilders U.S. Equity ETF (BBUS). 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.

	FEX	BBUS	Difference
Sharpe ratio: Return per unit of total volatility	2.21	1.82	+0.39
Sortino ratio: Return per unit of downside risk	3.05	2.48	+0.57
Omega ratio: Gain probability vs. loss probability	1.39	1.33	+0.06
Calmar ratio: Return relative to maximum drawdown	4.67	2.49	+2.18
Martin ratio: Return relative to average drawdown	16.75	10.97	+5.78

FEX vs. BBUS - Sharpe Ratio Comparison

The current FEX Sharpe Ratio is 2.21, which is comparable to the BBUS Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of FEX and BBUS, 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

FEX vs. BBUS - Drawdown Comparison

The maximum FEX drawdown since its inception was -58.81%, which is greater than BBUS's maximum drawdown of -35.35%. Use the drawdown chart below to compare losses from any high point for FEX and BBUS.

Drawdown Indicators

	FEX	BBUS	Difference
Max Drawdown Largest peak-to-trough decline	-58.81%	-35.35%	-23.46%
Max Drawdown (1Y) Largest decline over 1 year	-6.23%	-9.21%	+2.98%
Max Drawdown (3Y) Largest decline over 3 years	-19.58%	-19.01%	-0.57%
Max Drawdown (5Y) Largest decline over 5 years	-21.27%	-25.46%	+4.19%
Max Drawdown (10Y) Largest decline over 10 years	-39.51%	—	—
Current Drawdown Current decline from peak	-1.34%	-3.47%	+2.13%
Average Drawdown Average peak-to-trough decline	-7.87%	-5.43%	-2.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.73%	2.08%	-0.35%

Volatility

FEX vs. BBUS - Volatility Comparison

First Trust Large Cap Core AlphaDEX Fund (FEX) and JPMorgan BetaBuilders U.S. Equity ETF (BBUS) have volatilities of 5.09% and 5.00%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEX	BBUS	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.09%	5.00%	+0.09%
Volatility (6M) Calculated over the trailing 6-month period	9.99%	9.95%	+0.04%
Volatility (1Y) Calculated over the trailing 1-year period	13.19%	12.59%	+0.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.57%	17.14%	-0.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.60%	19.59%	-0.99%

FEX vs. BBUS - Expense Ratio Comparison

FEX has a 0.57% expense ratio, which is higher than BBUS's 0.02% expense ratio.

Dividends

FEX vs. BBUS - Dividend Comparison

FEX's dividend yield for the trailing twelve months is around 0.94%, less than BBUS's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BBUS JPMorgan BetaBuilders U.S. Equity ETF	1.01%	1.07%	1.21%	1.38%	1.57%	1.11%	1.43%	1.37%	0.00%	0.00%	0.00%	0.00%
FEX First Trust Large Cap Core AlphaDEX Fund	0.94%	1.10%	1.18%	1.38%	1.61%	0.80%	1.21%	1.32%	1.34%	1.07%	1.29%	1.33%

Frequently Asked Questions

Can I hold both FEX and BBUS in my portfolio?

FEX and BBUS have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FEX or BBUS?

FEX has higher volatility (5.09%) compared to BBUS (5.00%). In terms of maximum drawdown, FEX dropped -58.81% vs BBUS's -35.35%.

Which ETF is better, FEX or BBUS?

On 5-year performance, BBUS leads with 12.52% vs 11.42% for FEX. On fees, BBUS is cheaper at 0.02% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FEX or BBUS?

Over the 5-year period, BBUS has performed better with a 12.52% return vs 11.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FEX or BBUS?

BBUS is cheaper with a 0.02% expense ratio, compared with 0.57% for FEX.

Which ETF pays a higher dividend yield, FEX or BBUS?

BBUS has the higher dividend yield at 1.01%, compared with 0.94% for FEX.

What is the main difference between FEX and BBUS?

FEX tracks Nasdaq AlphaDEX Large Cap Core Index, while BBUS tracks Morningstar US Target Market Exposure Index. They also come from different issuers: First Trust and JPMorgan. Their fees differ too: 0.57% for FEX and 0.02% for BBUS.

Which has better risk-adjusted returns?

FEX currently has the higher Sharpe Ratio (2.21 vs 1.82), 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.