FEXU.L vs. ESUS.L

Last updated Jun 5, 2026

FEXU.L (First Trust US Large Cap Core AlphaDEX UCITS ETF) and ESUS.L (Invesco MSCI USA ESG Universal Screened UCITS ETF Dist) are both Large Cap Blend Equities funds tracking the Russell 1000 TR USD, from First Trust and Invesco respectively. Both are passively managed. Over the past 3 years, FEXU.L returned 20.53%/yr vs 22.12%/yr for ESUS.L. Their correlation of 0.84 suggests significant overlap in exposure. FEXU.L charges 0.75%/yr vs 0.09%/yr for ESUS.L.

Performance

FEXU.L vs. ESUS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust US Large Cap Core AlphaDEX UCITS ETF (FEXU.L) and Invesco MSCI USA ESG Universal Screened UCITS ETF Dist (ESUS.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, FEXU.L achieves a 14.28% return, which is significantly higher than ESUS.L's 11.50% return.

FEXU.L

• 1D: -0.08%
• 1M: 4.33%
• YTD: 14.28%
• 6M: 15.44%
• 1Y: 28.91%
• 3Y*: 20.53%
• 5Y*: 10.82%
• 10Y*: 12.70%

ESUS.L

• 1D: -0.34%
• 1M: 5.17%
• YTD: 11.50%
• 6M: 11.95%
• 1Y: 27.37%
• 3Y*: 22.12%
• 5Y*: —
• 10Y*: —

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

FEXU.L vs. ESUS.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FEXU.L First Trust US Large Cap Core AlphaDEX UCITS ETF	14.28%	15.23%	16.68%	14.64%	-12.27%	4.26%
ESUS.L Invesco MSCI USA ESG Universal Screened UCITS ETF Dist	11.50%	15.60%	24.54%	27.53%	-21.86%	8.13%

Correlation

The correlation between FEXU.L and ESUS.L is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (All Time) Calculated using the full available price history since Aug 13, 2021	0.84

The correlation between FEXU.L and ESUS.L has been stable across timeframes, ranging from 0.78 to 0.84 - a consistent structural relationship.

Return for Risk

FEXU.L vs. ESUS.L — Risk / Return Rank

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

FEXU.L

FEXU.L Risk / Return Rank: 80
FEXU.L Sharpe Ratio Rank: 76
FEXU.L Sortino Ratio Rank: 80
FEXU.L Omega Ratio Rank: 72
FEXU.L Calmar Ratio Rank: 88
FEXU.L Martin Ratio Rank: 86

ESUS.L

ESUS.L Risk / Return Rank: 77
ESUS.L Sharpe Ratio Rank: 82
ESUS.L Sortino Ratio Rank: 81
ESUS.L Omega Ratio Rank: 82
ESUS.L Calmar Ratio Rank: 71
ESUS.L Martin Ratio Rank: 68

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.

FEXU.L vs. ESUS.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust US Large Cap Core AlphaDEX UCITS ETF (FEXU.L) and Invesco MSCI USA ESG Universal Screened UCITS ETF Dist (ESUS.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.

	FEXU.L	ESUS.L	Difference
Sharpe ratio: Return per unit of total volatility	2.42	2.37	+0.05
Sortino ratio: Return per unit of downside risk	3.54	3.47	+0.07
Omega ratio: Gain probability vs. loss probability	1.42	1.42	0.00
Calmar ratio: Return relative to maximum drawdown	5.18	2.89	+2.29
Martin ratio: Return relative to average drawdown	17.52	12.33	+5.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FEXU.L vs. ESUS.L - Sharpe Ratio Comparison

The current FEXU.L Sharpe Ratio is 2.42, which is comparable to the ESUS.L Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of FEXU.L and ESUS.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

	FEXU.L	ESUS.L	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.42	2.37	+0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.67	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	0.74	-0.06

Drawdowns

FEXU.L vs. ESUS.L - Drawdown Comparison

The maximum FEXU.L drawdown since its inception was -39.38%, which is greater than ESUS.L's maximum drawdown of -28.49%. Use the drawdown chart below to compare losses from any high point for FEXU.L and ESUS.L.

Drawdown Indicators

	FEXU.L	ESUS.L	Difference
Max Drawdown Largest peak-to-trough decline	-39.38%	-28.49%	-10.89%
Max Drawdown (1Y) Largest decline over 1 year	-5.56%	-9.44%	+3.88%
Max Drawdown (3Y) Largest decline over 3 years	-20.15%	-19.28%	-0.87%
Max Drawdown (5Y) Largest decline over 5 years	-20.80%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-39.38%	—	—
Current Drawdown Current decline from peak	-0.08%	-0.63%	+0.55%
Average Drawdown Average peak-to-trough decline	-4.55%	-7.24%	+2.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.65%	2.21%	-0.56%

Volatility

FEXU.L vs. ESUS.L - Volatility Comparison

First Trust US Large Cap Core AlphaDEX UCITS ETF (FEXU.L) has a higher volatility of 4.43% compared to Invesco MSCI USA ESG Universal Screened UCITS ETF Dist (ESUS.L) at 2.81%. This indicates that FEXU.L's price experiences larger fluctuations and is considered to be riskier than ESUS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEXU.L	ESUS.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.43%	2.81%	+1.62%
Volatility (6M) Calculated over the trailing 6-month period	8.42%	8.49%	-0.07%
Volatility (1Y) Calculated over the trailing 1-year period	11.92%	11.50%	+0.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.26%	16.35%	-0.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.38%	16.35%	+1.03%

FEXU.L vs. ESUS.L - Expense Ratio Comparison

FEXU.L has a 0.75% expense ratio, which is higher than ESUS.L's 0.09% expense ratio.

Dividends

FEXU.L vs. ESUS.L - Dividend Comparison

FEXU.L has not paid dividends to shareholders, while ESUS.L's dividend yield for the trailing twelve months is around 0.83%.

Position	TTM	2025	2024	2023	2022	2021
ESUS.L Invesco MSCI USA ESG Universal Screened UCITS ETF Dist	0.83%	0.90%	0.96%	1.19%	1.36%	0.33%
FEXU.L First Trust US Large Cap Core AlphaDEX UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FEXU.L and ESUS.L in my portfolio?

FEXU.L and ESUS.L have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, FEXU.L or ESUS.L?

On fees, ESUS.L is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FEXU.L or ESUS.L?

ESUS.L is cheaper with a 0.09% expense ratio, compared with 0.75% for FEXU.L.

What is the main difference between FEXU.L and ESUS.L?

Both ETFs track Russell 1000 TR USD. They also come from different issuers: First Trust and Invesco. Their fees differ too: 0.75% for FEXU.L and 0.09% for ESUS.L.