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FKUD.L vs. IMIB.L
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FKUD.L vs. IMIB.L

Last updated Jul 16, 2026
Documentation

FKUD.L (First Trust United Kingdom AlphaDEX UCITS ETF Dist) and IMIB.L (iShares FTSE MIB UCITS ETF EUR (Dist)) are both Europe Equities funds - FKUD.L tracks the FTSE AllSh TR GBP while IMIB.L tracks the FTSE Italia AllShare TR EUR. Both are passively managed. Over the past 10 years, FKUD.L returned 8.51%/yr vs 15.63%/yr for IMIB.L. A 0.64 correlation means they provide meaningful diversification when combined. FKUD.L charges 0.65%/yr vs 0.35%/yr for IMIB.L.

Performance

FKUD.L vs. IMIB.L - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in First Trust United Kingdom AlphaDEX UCITS ETF Dist (FKUD.L) and iShares FTSE MIB UCITS ETF EUR (Dist) (IMIB.L). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FKUD.L achieves a 8.61% return, which is significantly lower than IMIB.L's 16.66% return. Over the past 10 years, FKUD.L has underperformed IMIB.L with an annualized return of 8.51%, while IMIB.L has yielded a comparatively higher 15.63% annualized return.

FKUD.L

1D
0.06%
1M
0.61%
6M
6.63%
YTD
8.61%
1Y
20.94%
3Y*
19.09%
5Y*
8.98%
10Y*
8.51%

IMIB.L

1D
-1.48%
1M
-0.44%
6M
15.26%
YTD
16.66%
1Y
33.91%
3Y*
27.43%
5Y*
21.23%
10Y*
15.63%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FKUD.L vs. IMIB.L - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FKUD.L
First Trust United Kingdom AlphaDEX UCITS ETF Dist		8.61%26.42%10.14%14.02%-14.10%20.54%-8.24%31.07%-12.21%13.09%
IMIB.L
iShares FTSE MIB UCITS ETF EUR (Dist)		16.66%43.78%13.17%30.55%-3.59%18.30%1.46%24.85%-15.32%18.99%

Correlation

The correlation between FKUD.L and IMIB.L is 0.62, 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

0.62

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

0.65

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

0.69

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

0.64

Correlation (All Time)
Calculated using the full available price history since Apr 15, 2016

0.64

The correlation between FKUD.L and IMIB.L has been stable across timeframes, ranging from 0.62 to 0.69 - a consistent structural relationship.

FKUD.L vs. IMIB.L - Sectors Allocation Comparison

Sectors
FKUD.L
IMIB.L

Financial Services

28.7%
45.3%

Basic Materials

18.3%
0.5%

Consumer Cyclical

12.6%
9.9%

Industrials

11.7%
11.4%

Communication Services

7.0%
1.7%

Consumer Defensive

6.4%
0.4%

Healthcare

5.3%
1.2%

Real Estate

4.0%
0.3%

Energy

3.6%
7.9%

Utilities

2.4%
15.9%

Technology

-

5.5%

Financial Services

FKUD.L
28.7%
IMIB.L
45.3%

Basic Materials

FKUD.L
18.3%
IMIB.L
0.5%

Consumer Cyclical

FKUD.L
12.6%
IMIB.L
9.9%

Industrials

FKUD.L
11.7%
IMIB.L
11.4%

Communication Services

FKUD.L
7.0%
IMIB.L
1.7%

Consumer Defensive

FKUD.L
6.4%
IMIB.L
0.4%

Healthcare

FKUD.L
5.3%
IMIB.L
1.2%

Real Estate

FKUD.L
4.0%
IMIB.L
0.3%

Energy

FKUD.L
3.6%
IMIB.L
7.9%

Utilities

FKUD.L
2.4%
IMIB.L
15.9%

Technology

FKUD.L

-

IMIB.L
5.5%

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 UCITS ETF Dist

iShares FTSE MIB UCITS ETF EUR (Dist)

Often compared with FKUD.L:
FKUD.L vs. FSKY.LFKUD.L vs. FDN.LFKUD.L vs. FCBR.LFKUD.L vs. LCPE.LFKUD.L vs. FBT.LFKUD.L vs. EEI.LFKUD.L vs. MIVO.L
Often compared with IMIB.L:
IMIB.L vs. ESIF.LIMIB.L vs. SPMOIMIB.L vs. X7PP.LIMIB.L vs. VOOIMIB.L vs. BNKE.LIMIB.L vs. PSRE.LIMIB.L vs. EEIP.L

Return for Risk

FKUD.L vs. IMIB.L — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FKUD.L
FKUD.L Risk / Return Rank: 4848
Overall Rank
FKUD.L Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
FKUD.L Sortino Ratio Rank: 5151
Sortino Ratio Rank
FKUD.L Omega Ratio Rank: 5151
Omega Ratio Rank
FKUD.L Calmar Ratio Rank: 4141
Calmar Ratio Rank
FKUD.L Martin Ratio Rank: 4444
Martin Ratio Rank
IMIB.L
IMIB.L Risk / Return Rank: 8282
Overall Rank
IMIB.L Sharpe Ratio Rank: 8686
Sharpe Ratio Rank
IMIB.L Sortino Ratio Rank: 8484
Sortino Ratio Rank
IMIB.L Omega Ratio Rank: 8383
Omega Ratio Rank
IMIB.L Calmar Ratio Rank: 7979
Calmar Ratio Rank
IMIB.L Martin Ratio Rank: 7878
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.

FKUD.L vs. IMIB.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust United Kingdom AlphaDEX UCITS ETF Dist (FKUD.L) and iShares FTSE MIB UCITS ETF EUR (Dist) (IMIB.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.

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.

FKUD.LIMIB.LDifference
Sharpe ratioReturn per unit of total volatility
1.48
2.23

-0.75

Sortino ratioReturn per unit of downside risk
2.09
3.02

-0.93

Omega ratioGain probability vs. loss probability

1.27

1.39

-0.12

Calmar ratioReturn relative to maximum drawdown

1.75

3.28

-1.53

Martin ratioReturn relative to average drawdown

5.96

11.74

-5.77

FKUD.L vs. IMIB.L - Sharpe Ratio Comparison

The current FKUD.L Sharpe Ratio is 1.48, which is lower than the IMIB.L Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of FKUD.L and IMIB.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.

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Drawdowns

FKUD.L vs. IMIB.L - Drawdown Comparison

The maximum FKUD.L drawdown since its inception was -45.67%, smaller than the maximum IMIB.L drawdown of -70.29%. Use the drawdown chart below to compare losses from any high point for FKUD.L and IMIB.L.

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Drawdown Indicators

FKUD.LIMIB.LDifference

Max Drawdown

Largest peak-to-trough decline

-45.67%

-70.29%

+24.62%

Max Drawdown (1Y)

Largest decline over 1 year

-11.78%

-10.28%

-1.50%

Max Drawdown (3Y)

Largest decline over 3 years

-13.10%

-15.58%

+2.48%

Max Drawdown (5Y)

Largest decline over 5 years

-26.92%

-24.06%

-2.86%

Max Drawdown (10Y)

Largest decline over 10 years

-45.67%

-36.68%

-8.99%

Current Drawdown

Current decline from peak

-1.41%

-2.97%

+1.56%

Average Drawdown

Average peak-to-trough decline

-7.06%

-33.79%

+26.73%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.47%

2.88%

+0.59%

Volatility

FKUD.L vs. IMIB.L - Volatility Comparison

First Trust United Kingdom AlphaDEX UCITS ETF Dist (FKUD.L) and iShares FTSE MIB UCITS ETF EUR (Dist) (IMIB.L) have volatilities of 4.00% and 3.93%, 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

FKUD.LIMIB.LDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.00%

3.93%

+0.07%

Volatility (6M)

Calculated over the trailing 6-month period

12.11%

12.60%

-0.49%

Volatility (1Y)

Calculated over the trailing 1-year period

14.01%

15.16%

-1.15%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

15.04%

17.92%

-2.88%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.26%

19.27%

-2.01%

FKUD.L vs. IMIB.L - Expense Ratio Comparison

FKUD.L has a 0.65% expense ratio, which is higher than IMIB.L's 0.35% expense ratio.

Dividends

FKUD.L vs. IMIB.L - Dividend Comparison

FKUD.L's dividend yield for the trailing twelve months is around 1.38%, less than IMIB.L's 3.75% yield.

PositionTTM20252024202320222021202020192018201720162015
FKUD.L
First Trust United Kingdom AlphaDEX UCITS ETF Dist		1.38%1.56%2.75%2.94%3.95%3.18%1.63%3.13%3.41%2.68%1.59%0.00%
IMIB.L
iShares FTSE MIB UCITS ETF EUR (Dist)		3.75%3.83%4.53%3.77%3.90%3.15%1.44%3.41%0.00%0.61%2.82%2.15%

Frequently Asked Questions

FKUD.L and IMIB.L have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, IMIB.L is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

IMIB.L is cheaper with a 0.35% expense ratio, compared with 0.65% for FKUD.L.

FKUD.L tracks FTSE AllSh TR GBP, while IMIB.L tracks FTSE Italia AllShare TR EUR. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.65% for FKUD.L and 0.35% for IMIB.L.

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