FEXD.L vs. COWG

Last updated Apr 2, 2026

Compare and contrast key facts about First Trust US Large Cap Core AlphaDEX UCITS Class B (FEXD.L) and Pacer US Large Cap Cash Cows Growth Leaders ETF (COWG).

FEXD.L and COWG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FEXD.L is a passively managed fund by First Trust that tracks the performance of the Russell 1000 TR USD. It was launched on May 28, 2015. COWG is a passively managed fund by Pacer that tracks the performance of the Pacer US Large Cap Cash Cows Growth Leaders Index. It was launched on Dec 21, 2022. Both FEXD.L and COWG are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

FEXD.L vs. COWG - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in First Trust US Large Cap Core AlphaDEX UCITS Class B (FEXD.L) and Pacer US Large Cap Cash Cows Growth Leaders ETF (COWG). The values are adjusted to include any dividend payments, if applicable.

FEXD.L vs. COWG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FEXD.L First Trust US Large Cap Core AlphaDEX UCITS Class B	3.76%	6.55%	17.43%	7.00%	-0.49%
COWG Pacer US Large Cap Cash Cows Growth Leaders ETF	-2.33%	2.39%	37.35%	14.65%	-1.14%

Different Trading Currencies

FEXD.L is traded in GBp, while COWG is traded in USD. To make them comparable, the COWG values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, FEXD.L achieves a 3.76% return, which is significantly higher than COWG's -2.33% return.

FEXD.L

• 1D: 1.06%
• 1M: -2.88%
• YTD: 3.76%
• 6M: 6.48%
• 1Y: 16.19%
• 3Y*: 12.50%
• 5Y*: 9.57%
• 10Y*: 11.46%

COWG

• 1D: 0.01%
• 1M: -3.27%
• YTD: -2.33%
• 6M: -5.48%
• 1Y: 6.47%
• 3Y*: 15.68%
• 5Y*: —
• 10Y*: —

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

FEXD.L vs. COWG - Expense Ratio Comparison

FEXD.L has a 0.75% expense ratio, which is higher than COWG's 0.49% expense ratio.

FEXD.L

First Trust US Large Cap Core AlphaDEX UCITS Class B

COWG

Pacer US Large Cap Cash Cows Growth Leaders ETF

Return for Risk

FEXD.L vs. COWG — Risk / Return Rank

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

FEXD.L

FEXD.L Risk / Return Rank: 47
FEXD.L Sharpe Ratio Rank: 68
FEXD.L Sortino Ratio Rank: 66
FEXD.L Omega Ratio Rank: 66
FEXD.L Calmar Ratio Rank: 18
FEXD.L Martin Ratio Rank: 17

COWG

COWG Risk / Return Rank: 26
COWG Sharpe Ratio Rank: 23
COWG Sortino Ratio Rank: 24
COWG Omega Ratio Rank: 24
COWG Calmar Ratio Rank: 31
COWG Martin Ratio Rank: 29

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.

FEXD.L vs. COWG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust US Large Cap Core AlphaDEX UCITS Class B (FEXD.L) and Pacer US Large Cap Cash Cows Growth Leaders ETF (COWG). 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.

	FEXD.L	COWG	Difference
Sharpe ratio Return per unit of total volatility	1.28	0.29	+0.99
Sortino ratio Return per unit of downside risk	1.77	0.57	+1.20
Omega ratio Gain probability vs. loss probability	1.26	1.08	+0.18
Calmar ratio Return relative to maximum drawdown	0.34	0.62	-0.28
Martin ratio Return relative to average drawdown	0.94	1.55	-0.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FEXD.L vs. COWG - Sharpe Ratio Comparison

The current FEXD.L Sharpe Ratio is 1.28, which is higher than the COWG Sharpe Ratio of 0.29. The chart below compares the historical Sharpe Ratios of FEXD.L and COWG, 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

	FEXD.L	COWG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.28	0.29	+0.99
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.74	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.81	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	0.77	-0.03

Correlation

The correlation between FEXD.L and COWG is 0.39, 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

FEXD.L vs. COWG - Dividend Comparison

FEXD.L's dividend yield for the trailing twelve months is around 0.01%, less than COWG's 0.35% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FEXD.L First Trust US Large Cap Core AlphaDEX UCITS Class B	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
COWG Pacer US Large Cap Cash Cows Growth Leaders ETF	0.35%	0.32%	0.40%	0.47%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

FEXD.L vs. COWG - Drawdown Comparison

The maximum FEXD.L drawdown since its inception was -31.91%, which is greater than COWG's maximum drawdown of -25.40%. Use the drawdown chart below to compare losses from any high point for FEXD.L and COWG.

Drawdown Indicators

	FEXD.L	COWG	Difference
Max Drawdown Largest peak-to-trough decline	-31.91%	-23.60%	-8.31%
Max Drawdown (1Y) Largest decline over 1 year	-11.85%	-12.96%	+1.11%
Max Drawdown (5Y) Largest decline over 5 years	-21.63%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-31.91%	—	—
Current Drawdown Current decline from peak	-2.88%	-7.98%	+5.10%
Average Drawdown Average peak-to-trough decline	-4.42%	-3.36%	-1.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.57%	4.00%	+3.57%

Volatility

FEXD.L vs. COWG - Volatility Comparison

The current volatility for First Trust US Large Cap Core AlphaDEX UCITS Class B (FEXD.L) is 4.31%, while Pacer US Large Cap Cash Cows Growth Leaders ETF (COWG) has a volatility of 4.99%. This indicates that FEXD.L experiences smaller price fluctuations and is considered to be less risky than COWG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEXD.L	COWG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.31%	4.99%	-0.68%
Volatility (6M) Calculated over the trailing 6-month period	9.20%	12.63%	-3.43%
Volatility (1Y) Calculated over the trailing 1-year period	17.38%	22.39%	-5.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.45%	19.03%	-2.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.80%	19.03%	-0.23%