FKU vs. VGK

Last updated Jun 5, 2026

FKU (First Trust United Kingdom AlphaDEX Fund) and VGK (Vanguard FTSE Europe ETF) are both Europe Equities funds - FKU tracks the NASDAQ AlphaDEX United Kingdom Index while VGK tracks the FTSE Developed Europe All Cap Index. Both are passively managed. Over the past 10 years, FKU returned 7.12%/yr vs 9.35%/yr for VGK. A 0.75 correlation means they provide meaningful diversification when combined. FKU charges 0.80%/yr vs 0.06%/yr for VGK.

Performance

FKU vs. VGK - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with FKU having a 6.49% return and VGK slightly higher at 6.81%. Over the past 10 years, FKU has underperformed VGK with an annualized return of 7.12%, while VGK has yielded a comparatively higher 9.35% annualized return.

FKU

• 1D: 1.18%
• 1M: 2.77%
• YTD: 6.49%
• 6M: 12.08%
• 1Y: 21.04%
• 3Y*: 21.42%
• 5Y*: 7.43%
• 10Y*: 7.12%

VGK

• 1D: 1.13%
• 1M: 2.33%
• YTD: 6.81%
• 6M: 9.95%
• 1Y: 18.56%
• 3Y*: 17.03%
• 5Y*: 8.48%
• 10Y*: 9.35%

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

FKU vs. VGK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FKU First Trust United Kingdom AlphaDEX Fund	6.49%	37.97%	8.06%	20.59%	-24.12%	20.55%	-6.01%	32.90%	-16.21%	25.81%
VGK Vanguard FTSE Europe ETF	6.81%	35.83%	1.88%	20.19%	-15.98%	16.89%	5.43%	24.85%	-14.89%	26.98%

Correlation

The correlation between FKU and VGK 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Feb 28, 2012	0.75

The correlation between FKU and VGK shifts across timeframes, from 0.75 (all time) to 0.86 (1 year), reflecting how their relationship changes across market environments.

FKU vs. VGK - Sectors Allocation Comparison

Sectors	FKU	VGK
Financial Services	27.7%	23.9%
Basic Materials	17.8%	5.4%
Consumer Cyclical	13.2%	6.8%
Industrials	11.4%	19.5%
Communication Services	7.2%	3.3%
Consumer Defensive	6.7%	8.5%
Healthcare	5.3%	12.1%
Energy	4.0%	5.3%
Real Estate	4.0%	1.5%
Utilities	2.7%	4.8%
Technology	-	8.3%

Return for Risk

FKU vs. VGK — Risk / Return Rank

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

FKU

FKU Risk / Return Rank: 33
FKU Sharpe Ratio Rank: 34
FKU Sortino Ratio Rank: 34
FKU Omega Ratio Rank: 34
FKU Calmar Ratio Rank: 31
FKU Martin Ratio Rank: 33

VGK

VGK Risk / Return Rank: 34
VGK Sharpe Ratio Rank: 34
VGK Sortino Ratio Rank: 35
VGK Omega Ratio Rank: 33
VGK Calmar Ratio Rank: 32
VGK Martin Ratio Rank: 38

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. VGK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust United Kingdom AlphaDEX Fund (FKU) and Vanguard FTSE Europe ETF (VGK). 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.

	FKU	VGK	Difference
Sharpe ratio: Return per unit of total volatility	1.21	1.21	0.00
Sortino ratio: Return per unit of downside risk	1.77	1.77	+0.01
Omega ratio: Gain probability vs. loss probability	1.22	1.22	0.00
Calmar ratio: Return relative to maximum drawdown	1.48	1.54	-0.06
Martin ratio: Return relative to average drawdown	4.99	5.73	-0.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FKU vs. VGK - Sharpe Ratio Comparison

The current FKU Sharpe Ratio is 1.21, which is comparable to the VGK Sharpe Ratio of 1.21. The chart below compares the historical Sharpe Ratios of FKU and VGK, 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

	FKU	VGK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.21	1.21	0.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	0.48	-0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.29	0.49	-0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.28	+0.05

Drawdowns

FKU vs. VGK - Drawdown Comparison

The maximum FKU drawdown since its inception was -54.39%, smaller than the maximum VGK drawdown of -63.61%. Use the drawdown chart below to compare losses from any high point for FKU and VGK.

Drawdown Indicators

	FKU	VGK	Difference
Max Drawdown Largest peak-to-trough decline	-54.39%	-63.61%	+9.22%
Max Drawdown (1Y) Largest decline over 1 year	-14.25%	-12.09%	-2.16%
Max Drawdown (3Y) Largest decline over 3 years	-14.25%	-14.31%	+0.06%
Max Drawdown (5Y) Largest decline over 5 years	-41.75%	-32.74%	-9.01%
Max Drawdown (10Y) Largest decline over 10 years	-54.39%	-37.24%	-17.15%
Current Drawdown Current decline from peak	-4.43%	-1.31%	-3.12%
Average Drawdown Average peak-to-trough decline	-10.81%	-13.34%	+2.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.23%	3.25%	+0.98%

Volatility

FKU vs. VGK - Volatility Comparison

First Trust United Kingdom AlphaDEX Fund (FKU) has a higher volatility of 6.21% compared to Vanguard FTSE Europe ETF (VGK) at 5.63%. This indicates that FKU's price experiences larger fluctuations and is considered to be riskier than VGK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FKU	VGK	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.21%	5.63%	+0.58%
Volatility (6M) Calculated over the trailing 6-month period	14.75%	12.81%	+1.94%
Volatility (1Y) Calculated over the trailing 1-year period	17.43%	15.41%	+2.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.90%	17.90%	+5.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.43%	18.96%	+5.47%

FKU vs. VGK - Expense Ratio Comparison

FKU has a 0.80% expense ratio, which is higher than VGK's 0.06% expense ratio.

Dividends

FKU vs. VGK - Dividend Comparison

FKU's dividend yield for the trailing twelve months is around 2.71%, less than VGK's 2.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FKU First Trust United Kingdom AlphaDEX Fund	2.71%	2.89%	4.07%	3.82%	5.55%	2.98%	1.48%	3.34%	5.12%	2.93%	2.60%	2.64%
VGK Vanguard FTSE Europe ETF	2.79%	2.86%	3.61%	3.15%	3.25%	3.05%	2.11%	3.27%	3.95%	2.70%	3.52%	3.25%

Frequently Asked Questions

Can I hold both FKU and VGK in my portfolio?

FKU and VGK 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.

Which is riskier, FKU or VGK?

FKU has higher volatility (6.21%) compared to VGK (5.63%). In terms of maximum drawdown, FKU dropped -54.39% vs VGK's -63.61%.

Which ETF is better, FKU or VGK?

On 10-year performance, VGK leads with 9.35% vs 7.12% for FKU. On fees, VGK is cheaper at 0.06% per year. On volatility, VGK has been the lower-risk option at 5.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FKU or VGK?

Over the 10-year period, VGK has performed better with a 9.35% return vs 7.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FKU or VGK?

VGK is cheaper with a 0.06% expense ratio, compared with 0.80% for FKU.

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

VGK has the higher dividend yield at 2.79%, compared with 2.71% for FKU.

What is the main difference between FKU and VGK?

FKU tracks NASDAQ AlphaDEX United Kingdom Index, while VGK tracks FTSE Developed Europe All Cap Index. They also come from different issuers: First Trust and Vanguard. Their fees differ too: 0.80% for FKU and 0.06% for VGK.

Which has better risk-adjusted returns?

FKU currently has the higher Sharpe Ratio (1.21 vs 1.21), 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.