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FKU vs. IEUR
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FKU vs. IEUR

Last updated Jun 25, 2026

FKU (First Trust United Kingdom AlphaDEX Fund) and IEUR (iShares Core MSCI Europe ETF) are both Europe Equities funds - FKU tracks the NASDAQ AlphaDEX United Kingdom Index while IEUR tracks the MSCI Europe Investable Market Index. Both are passively managed. Over the past 10 years, FKU returned 8.62%/yr vs 10.20%/yr for IEUR. A 0.77 correlation means they provide meaningful diversification when combined. FKU charges 0.80%/yr vs 0.09%/yr for IEUR.

Performance

FKU vs. IEUR - Performance Comparison

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

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Returns By Period

In the year-to-date period, FKU achieves a 4.97% return, which is significantly lower than IEUR's 6.01% return. Over the past 10 years, FKU has underperformed IEUR with an annualized return of 8.62%, while IEUR has yielded a comparatively higher 10.20% 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%

IEUR

1D
-0.20%
1M
-0.32%
YTD
6.01%
6M
5.91%
1Y
16.58%
3Y*
16.46%
5Y*
8.29%
10Y*
10.20%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FKU vs. IEUR - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
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%
IEUR
iShares Core MSCI Europe ETF		6.01%35.67%1.40%19.71%-15.90%16.71%5.31%24.95%-14.86%26.70%

Correlation

The correlation between FKU and IEUR is 0.86, 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

0.86

Correlation (3Y)
Calculated over the trailing 3-year period

0.85

Correlation (5Y)
Calculated over the trailing 5-year period

0.79

Correlation (10Y)
Calculated over the trailing 10-year period

0.76

Correlation (All Time)
Calculated using the full available price history since Jun 12, 2014

0.77

The correlation between FKU and IEUR shifts across timeframes, from 0.76 (10 years) to 0.86 (1 year), reflecting how their relationship changes across market environments.

FKU vs. IEUR - Sectors Allocation Comparison

Sectors
FKU
IEUR

Financial Services

28.7%
22.5%

Basic Materials

18.3%
5.8%

Consumer Cyclical

12.6%
7.0%

Industrials

11.7%
20.3%

Communication Services

7.0%
3.9%

Consumer Defensive

6.4%
7.7%

Healthcare

5.3%
12.5%

Real Estate

4.0%
1.5%

Energy

3.6%
4.9%

Utilities

2.4%
4.4%

Technology

-

9.4%

Financial Services

FKU
28.7%
IEUR
22.5%

Basic Materials

FKU
18.3%
IEUR
5.8%

Consumer Cyclical

FKU
12.6%
IEUR
7.0%

Industrials

FKU
11.7%
IEUR
20.3%

Communication Services

FKU
7.0%
IEUR
3.9%

Consumer Defensive

FKU
6.4%
IEUR
7.7%

Healthcare

FKU
5.3%
IEUR
12.5%

Real Estate

FKU
4.0%
IEUR
1.5%

Energy

FKU
3.6%
IEUR
4.9%

Utilities

FKU
2.4%
IEUR
4.4%

Technology

FKU

-

IEUR
9.4%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

First Trust United Kingdom AlphaDEX Fund

iShares Core MSCI Europe ETF

Often compared with FKU:
FKU vs. EWUFKU vs. FLGRFKU vs. EUSCFKU vs. NORWFKU vs. FSZFKU vs. OPPEFKU vs. FDD
Often compared with IEUR:
IEUR vs. VGKIEUR vs. IEVIEUR vs. FEZIEUR vs. IMEU.LIEUR vs. EZUIEUR vs. VOOIEUR vs. EFA

Return for Risk

FKU vs. IEUR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FKU
FKU Risk / Return Rank: 3030
Overall Rank
FKU Sharpe Ratio Rank: 3131
Sharpe Ratio Rank
FKU Sortino Ratio Rank: 3030
Sortino Ratio Rank
FKU Omega Ratio Rank: 2929
Omega Ratio Rank
FKU Calmar Ratio Rank: 2828
Calmar Ratio Rank
FKU Martin Ratio Rank: 3131
Martin Ratio Rank
IEUR
IEUR Risk / Return Rank: 3232
Overall Rank
IEUR Sharpe Ratio Rank: 3232
Sharpe Ratio Rank
IEUR Sortino Ratio Rank: 3232
Sortino Ratio Rank
IEUR Omega Ratio Rank: 3030
Omega Ratio Rank
IEUR Calmar Ratio Rank: 3030
Calmar Ratio Rank
IEUR Martin Ratio Rank: 3636
Martin Ratio Rank
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. IEUR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust United Kingdom AlphaDEX Fund (FKU) and iShares Core MSCI Europe ETF (IEUR). 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.

FKUIEURDifference
Sharpe ratioReturn per unit of total volatility
1.01
1.06

-0.06

Sortino ratioReturn per unit of downside risk
1.51
1.60

-0.08

Omega ratioGain probability vs. loss probability

1.19

1.19

-0.01

Calmar ratioReturn relative to maximum drawdown

1.25

1.38

-0.13

Martin ratioReturn relative to average drawdown

4.05

5.18

-1.13

FKU vs. IEUR - Sharpe Ratio Comparison

The current FKU Sharpe Ratio is 1.01, which is comparable to the IEUR Sharpe Ratio of 1.06. The chart below compares the historical Sharpe Ratios of FKU and IEUR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

FKU vs. IEUR - Drawdown Comparison

The maximum FKU drawdown since its inception was -54.39%, which is greater than IEUR's maximum drawdown of -36.96%. Use the drawdown chart below to compare losses from any high point for FKU and IEUR.

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Drawdown Indicators

FKUIEURDifference

Max Drawdown

Largest peak-to-trough decline

-54.39%

-36.96%

-17.43%

Max Drawdown (1Y)

Largest decline over 1 year

-14.25%

-12.04%

-2.21%

Max Drawdown (3Y)

Largest decline over 3 years

-14.25%

-14.25%

0.00%

Max Drawdown (5Y)

Largest decline over 5 years

-41.54%

-32.75%

-8.79%

Max Drawdown (10Y)

Largest decline over 10 years

-54.39%

-36.96%

-17.43%

Current Drawdown

Current decline from peak

-5.80%

-1.97%

-3.83%

Average Drawdown

Average peak-to-trough decline

-10.78%

-8.19%

-2.59%

Ulcer Index

Depth and duration of drawdowns from previous peaks

4.40%

3.21%

+1.19%

Volatility

FKU vs. IEUR - Volatility Comparison

First Trust United Kingdom AlphaDEX Fund (FKU) and iShares Core MSCI Europe ETF (IEUR) have volatilities of 5.01% and 4.86%, 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.

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Volatility by Period

FKUIEURDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.01%

4.86%

+0.15%

Volatility (6M)

Calculated over the trailing 6-month period

15.21%

13.31%

+1.90%

Volatility (1Y)

Calculated over the trailing 1-year period

17.81%

15.70%

+2.11%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.90%

17.79%

+5.11%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.60%

18.30%

+5.30%

FKU vs. IEUR - Expense Ratio Comparison

FKU has a 0.80% expense ratio, which is higher than IEUR's 0.09% expense ratio.

Dividends

FKU vs. IEUR - Dividend Comparison

FKU's dividend yield for the trailing twelve months is around 2.74%, less than IEUR's 3.24% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
IEUR
iShares Core MSCI Europe ETF		3.24%2.97%3.54%3.17%3.05%2.88%2.13%3.26%3.76%2.64%3.19%2.79%

Frequently Asked Questions

FKU and IEUR have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FKU has higher volatility (5.01%) compared to IEUR (4.86%). In terms of maximum drawdown, FKU dropped -54.39% vs IEUR's -36.96%.

On 10-year performance, IEUR leads with 10.20% vs 8.62% for FKU. On fees, IEUR is cheaper at 0.09% per year. On volatility, IEUR has been the lower-risk option at 4.86%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IEUR has performed better with a 10.20% return vs 8.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IEUR is cheaper with a 0.09% expense ratio, compared with 0.80% for FKU.

IEUR has the higher dividend yield at 3.24%, compared with 2.74% for FKU.

FKU tracks NASDAQ AlphaDEX United Kingdom Index, while IEUR tracks MSCI Europe Investable Market Index. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.80% for FKU and 0.09% for IEUR.

IEUR currently has the higher Sharpe Ratio (1.06 vs 1.01), 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.

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