FKU vs. EUDV

Last updated Jun 25, 2026

FKU (First Trust United Kingdom AlphaDEX Fund) and EUDV (ProShares MSCI Europe Dividend Growers ETF) are both Europe Equities funds - FKU tracks the NASDAQ AlphaDEX United Kingdom Index while EUDV tracks the MSCI Europe Dividend Masters Index. Both are passively managed. Over the past 10 years, FKU returned 8.62%/yr vs 5.49%/yr for EUDV. A 0.66 correlation means they provide meaningful diversification when combined. FKU charges 0.80%/yr vs 0.55%/yr for EUDV.

Performance

FKU vs. EUDV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust United Kingdom AlphaDEX Fund (FKU) and ProShares MSCI Europe Dividend Growers ETF (EUDV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FKU achieves a 4.97% return, which is significantly higher than EUDV's -0.17% return. Over the past 10 years, FKU has outperformed EUDV with an annualized return of 8.62%, while EUDV has yielded a comparatively lower 5.49% annualized return.

FKU

• 1D: 0.09%
• 1M: -0.47%
• YTD: 4.97%
• 6M: 5.16%
• 1Y: 17.77%
• 3Y*: 21.62%
• 5Y*: 7.54%
• 10Y*: 8.62%

EUDV

• 1D: -0.38%
• 1M: -3.06%
• YTD: -0.17%
• 6M: -0.35%
• 1Y: -2.48%
• 3Y*: 7.23%
• 5Y*: 1.67%
• 10Y*: 5.49%

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

FKU vs. EUDV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FKU First Trust United Kingdom AlphaDEX Fund	4.97%	37.97%	8.06%	20.59%	-24.12%	20.55%	-6.01%	32.90%	-16.21%	25.81%
EUDV ProShares MSCI Europe Dividend Growers ETF	-0.17%	14.05%	0.03%	20.41%	-24.87%	19.56%	5.81%	25.89%	-11.12%	21.57%

Correlation

The correlation between FKU and EUDV is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (10Y) Calculated over the trailing 10-year period	0.67
Correlation (All Time) Calculated using the full available price history since Sep 11, 2015	0.66

The correlation between FKU and EUDV shifts across timeframes, from 0.66 (all time) to 0.76 (3 years), reflecting how their relationship changes across market environments.

FKU vs. EUDV - Sectors Allocation Comparison

Sectors	FKU	EUDV
Financial Services	28.7%	13.6%
Basic Materials	18.3%	11.2%
Consumer Cyclical	12.6%	-
Industrials	11.7%	20.5%
Communication Services	7.0%	4.1%
Consumer Defensive	6.4%	11.0%
Healthcare	5.3%	16.5%
Real Estate	4.0%	2.0%
Energy	3.6%	2.2%
Utilities	2.4%	8.9%
Technology	-	12.1%

Return for Risk

FKU vs. EUDV — Risk / Return Rank

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

FKU

FKU Risk / Return Rank: 30
FKU Sharpe Ratio Rank: 31
FKU Sortino Ratio Rank: 30
FKU Omega Ratio Rank: 29
FKU Calmar Ratio Rank: 28
FKU Martin Ratio Rank: 31

EUDV

EUDV Risk / Return Rank: 7
EUDV Sharpe Ratio Rank: 7
EUDV Sortino Ratio Rank: 7
EUDV Omega Ratio Rank: 7
EUDV Calmar Ratio Rank: 7
EUDV Martin Ratio Rank: 6

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.

FKU vs. EUDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust United Kingdom AlphaDEX Fund (FKU) and ProShares MSCI Europe Dividend Growers ETF (EUDV). 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.

	FKU	EUDV	Difference
Sharpe ratio: Return per unit of total volatility	1.01	-0.18	+1.18
Sortino ratio: Return per unit of downside risk	1.51	-0.15	+1.66
Omega ratio: Gain probability vs. loss probability	1.19	0.98	+0.20
Calmar ratio: Return relative to maximum drawdown	1.25	-0.23	+1.49
Martin ratio: Return relative to average drawdown	4.05	-0.62	+4.67

FKU vs. EUDV - Sharpe Ratio Comparison

The current FKU Sharpe Ratio is 1.01, which is higher than the EUDV Sharpe Ratio of -0.18. The chart below compares the historical Sharpe Ratios of FKU and EUDV, 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

FKU vs. EUDV - Drawdown Comparison

The maximum FKU drawdown since its inception was -54.39%, which is greater than EUDV's maximum drawdown of -37.51%. Use the drawdown chart below to compare losses from any high point for FKU and EUDV.

Drawdown Indicators

	FKU	EUDV	Difference
Max Drawdown Largest peak-to-trough decline	-54.39%	-37.51%	-16.88%
Max Drawdown (1Y) Largest decline over 1 year	-14.25%	-10.63%	-3.62%
Max Drawdown (3Y) Largest decline over 3 years	-14.25%	-13.69%	-0.56%
Max Drawdown (5Y) Largest decline over 5 years	-41.54%	-37.51%	-4.03%
Max Drawdown (10Y) Largest decline over 10 years	-54.39%	-37.51%	-16.88%
Current Drawdown Current decline from peak	-5.80%	-5.97%	+0.17%
Average Drawdown Average peak-to-trough decline	-10.78%	-8.58%	-2.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.40%	3.99%	+0.41%

Volatility

FKU vs. EUDV - Volatility Comparison

First Trust United Kingdom AlphaDEX Fund (FKU) has a higher volatility of 5.01% compared to ProShares MSCI Europe Dividend Growers ETF (EUDV) at 3.91%. This indicates that FKU's price experiences larger fluctuations and is considered to be riskier than EUDV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FKU	EUDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.01%	3.91%	+1.10%
Volatility (6M) Calculated over the trailing 6-month period	15.21%	11.50%	+3.71%
Volatility (1Y) Calculated over the trailing 1-year period	17.81%	14.11%	+3.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.90%	16.17%	+6.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.60%	17.17%	+6.43%

FKU vs. EUDV - Expense Ratio Comparison

FKU has a 0.80% expense ratio, which is higher than EUDV's 0.55% expense ratio.

Dividends

FKU vs. EUDV - Dividend Comparison

FKU's dividend yield for the trailing twelve months is around 2.74%, more than EUDV's 1.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EUDV ProShares MSCI Europe Dividend Growers ETF	1.73%	1.74%	1.92%	1.87%	1.77%	2.30%	1.27%	2.20%	2.22%	2.33%	2.53%	0.37%
FKU First Trust United Kingdom AlphaDEX Fund	2.74%	2.89%	4.07%	3.82%	5.55%	2.98%	1.48%	3.34%	5.12%	2.93%	2.60%	2.64%

Frequently Asked Questions

Can I hold both FKU and EUDV in my portfolio?

FKU and EUDV have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FKU or EUDV?

FKU has higher volatility (5.01%) compared to EUDV (3.91%). In terms of maximum drawdown, FKU dropped -54.39% vs EUDV's -37.51%.

Which ETF is better, FKU or EUDV?

On 10-year performance, FKU leads with 8.62% vs 5.49% for EUDV. On fees, EUDV is cheaper at 0.55% per year. On volatility, EUDV has been the lower-risk option at 3.91%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FKU or EUDV?

Over the 10-year period, FKU has performed better with a 8.62% return vs 5.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FKU or EUDV?

EUDV is cheaper with a 0.55% expense ratio, compared with 0.80% for FKU.

Which ETF pays a higher dividend yield, FKU or EUDV?

FKU has the higher dividend yield at 2.74%, compared with 1.73% for EUDV.

What is the main difference between FKU and EUDV?

FKU tracks NASDAQ AlphaDEX United Kingdom Index, while EUDV tracks MSCI Europe Dividend Masters Index. They also come from different issuers: First Trust and ProShares. Their fees differ too: 0.80% for FKU and 0.55% for EUDV.

Which has better risk-adjusted returns?

FKU currently has the higher Sharpe Ratio (1.01 vs -0.18), 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.