FEXD.L vs. FDN.L

Last updated Jun 5, 2026

FEXD.L (First Trust US Large Cap Core AlphaDEX UCITS Class B) and FDN.L (First Trust Dow Jones Internet UCITS ETF Class A USD) are both exchange-traded funds - FEXD.L is a Large Cap Blend Equities fund tracking the Russell 1000 TR USD, while FDN.L is a Technology Equities fund tracking the MSCI World/Information Tech NR USD. Both are passively managed. Over the past 5 years, FEXD.L returned 10.82%/yr vs 5.41%/yr for FDN.L. A 0.50 correlation means they provide meaningful diversification when combined. FEXD.L charges 0.75%/yr vs 0.55%/yr for FDN.L.

Performance

FEXD.L vs. FDN.L - 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 First Trust Dow Jones Internet UCITS ETF Class A USD (FDN.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FEXD.L achieves a 14.06% return, which is significantly higher than FDN.L's 4.53% return.

FEXD.L

• 1D: -0.11%
• 1M: 5.28%
• YTD: 14.06%
• 6M: 14.03%
• 1Y: 28.95%
• 3Y*: 16.32%
• 5Y*: 10.82%
• 10Y*: 12.39%

FDN.L

• 1D: 0.72%
• 1M: 6.42%
• YTD: 4.53%
• 6M: 3.88%
• 1Y: 11.30%
• 3Y*: 17.62%
• 5Y*: 5.41%
• 10Y*: —

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

FEXD.L vs. FDN.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FEXD.L First Trust US Large Cap Core AlphaDEX UCITS Class B	14.06%	6.55%	17.43%	7.00%	-3.00%	26.00%	9.31%	21.74%	-11.05%
FDN.L First Trust Dow Jones Internet UCITS ETF Class A USD	4.53%	2.35%	32.65%	45.94%	-40.28%	8.39%	48.88%	14.03%	-15.50%

Correlation

The correlation between FEXD.L and FDN.L is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (All Time) Calculated using the full available price history since Jun 22, 2018	0.50

Over the past year, the correlation between FEXD.L and FDN.L has dropped to 0.30 - well below their long-term average of 0.50, suggesting their price drivers have been diverging.

Return for Risk

FEXD.L vs. FDN.L — 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: 93
FEXD.L Sharpe Ratio Rank: 92
FEXD.L Sortino Ratio Rank: 92
FEXD.L Omega Ratio Rank: 90
FEXD.L Calmar Ratio Rank: 96
FEXD.L Martin Ratio Rank: 95

FDN.L

FDN.L Risk / Return Rank: 18
FDN.L Sharpe Ratio Rank: 19
FDN.L Sortino Ratio Rank: 19
FDN.L Omega Ratio Rank: 20
FDN.L Calmar Ratio Rank: 16
FDN.L Martin Ratio Rank: 15

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. FDN.L - 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 First Trust Dow Jones Internet UCITS ETF Class A USD (FDN.L). 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	FDN.L	Difference
Sharpe ratio: Return per unit of total volatility	3.19	0.61	+2.58
Sortino ratio: Return per unit of downside risk	4.43	0.92	+3.52
Omega ratio: Gain probability vs. loss probability	1.57	1.12	+0.45
Calmar ratio: Return relative to maximum drawdown	8.72	0.54	+8.18
Martin ratio: Return relative to average drawdown	28.19	1.24	+26.95
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FEXD.L vs. FDN.L - Sharpe Ratio Comparison

The current FEXD.L Sharpe Ratio is 3.19, which is higher than the FDN.L Sharpe Ratio of 0.61. The chart below compares the historical Sharpe Ratios of FEXD.L and FDN.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FEXD.L	FDN.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.19	0.61	+2.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	0.22	+0.62
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.88	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.80	0.35	+0.45

Drawdowns

FEXD.L vs. FDN.L - Drawdown Comparison

The maximum FEXD.L drawdown since its inception was -31.91%, smaller than the maximum FDN.L drawdown of -46.90%. Use the drawdown chart below to compare losses from any high point for FEXD.L and FDN.L.

Drawdown Indicators

	FEXD.L	FDN.L	Difference
Max Drawdown Largest peak-to-trough decline	-31.91%	-46.90%	+14.99%
Max Drawdown (1Y) Largest decline over 1 year	-4.52%	-20.87%	+16.35%
Max Drawdown (3Y) Largest decline over 3 years	-21.63%	-27.22%	+5.59%
Max Drawdown (5Y) Largest decline over 5 years	-21.63%	-46.90%	+25.27%
Max Drawdown (10Y) Largest decline over 10 years	-31.91%	—	—
Current Drawdown Current decline from peak	-0.11%	-2.70%	+2.59%
Average Drawdown Average peak-to-trough decline	-4.35%	-14.80%	+10.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.88%	9.07%	-4.19%

Volatility

FEXD.L vs. FDN.L - Volatility Comparison

The current volatility for First Trust US Large Cap Core AlphaDEX UCITS Class B (FEXD.L) is 3.73%, while First Trust Dow Jones Internet UCITS ETF Class A USD (FDN.L) has a volatility of 5.75%. This indicates that FEXD.L experiences smaller price fluctuations and is considered to be less risky than FDN.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEXD.L	FDN.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.73%	5.75%	-2.02%
Volatility (6M) Calculated over the trailing 6-month period	9.14%	14.20%	-5.06%
Volatility (1Y) Calculated over the trailing 1-year period	12.33%	18.40%	-6.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.33%	24.41%	-8.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.76%	24.51%	-5.75%

FEXD.L vs. FDN.L - Expense Ratio Comparison

FEXD.L has a 0.75% expense ratio, which is higher than FDN.L's 0.55% expense ratio.

Dividends

FEXD.L vs. FDN.L - Dividend Comparison

FEXD.L's dividend yield for the trailing twelve months is around 0.01%, while FDN.L has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FDN.L First Trust Dow Jones Internet UCITS ETF Class A USD	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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%

Frequently Asked Questions

Can I hold both FEXD.L and FDN.L in my portfolio?

FEXD.L and FDN.L have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FEXD.L or FDN.L?

On fees, FDN.L is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FEXD.L or FDN.L?

FDN.L is cheaper with a 0.55% expense ratio, compared with 0.75% for FEXD.L.

What is the main difference between FEXD.L and FDN.L?

FEXD.L is categorized as Large Cap Blend Equities, while FDN.L is Technology Equities. FEXD.L tracks Russell 1000 TR USD, while FDN.L tracks MSCI World/Information Tech NR USD. Their fees differ too: 0.75% for FEXD.L and 0.55% for FDN.L.