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FLN vs. AIRR
Performance
Return for Risk
Dividends
Drawdowns
Volatility

FLN vs. AIRR

Last updated Apr 1, 2026

Compare and contrast key facts about First Trust Latin America AlphaDEX Fund (FLN) and First Trust RBA American Industrial Renaissance ETF (AIRR).

FLN and AIRR are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FLN is a passively managed fund by First Trust that tracks the performance of the NASDAQ AlphaDEX Latin America Index. It was launched on Apr 18, 2011. AIRR is a passively managed fund by First Trust that tracks the performance of the Richard Bernstein Advisors American Industrial Renaissance (TR). It was launched on Mar 10, 2014. Both FLN and AIRR are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

FLN vs. AIRR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Latin America AlphaDEX Fund (FLN) and First Trust RBA American Industrial Renaissance ETF (AIRR). The values are adjusted to include any dividend payments, if applicable.

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FLN vs. AIRR - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FLN
First Trust Latin America AlphaDEX Fund		13.57%55.05%-23.10%29.68%2.73%-6.94%-12.27%27.22%-8.31%21.54%
AIRR
First Trust RBA American Industrial Renaissance ETF		12.74%27.92%33.45%31.43%-2.08%33.01%17.17%33.97%-20.57%16.28%

Returns By Period

In the year-to-date period, FLN achieves a 13.57% return, which is significantly higher than AIRR's 12.74% return. Over the past 10 years, FLN has underperformed AIRR with an annualized return of 9.71%, while AIRR has yielded a comparatively higher 20.48% annualized return.

FLN

1D
3.41%
1M
-4.91%
YTD
13.57%
6M
21.94%
1Y
53.52%
3Y*
19.30%
5Y*
12.67%
10Y*
9.71%

AIRR

1D
4.60%
1M
-6.21%
YTD
12.74%
6M
14.68%
1Y
62.71%
3Y*
32.43%
5Y*
22.20%
10Y*
20.48%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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First Trust Latin America AlphaDEX Fund

First Trust RBA American Industrial Renaissance ETF

Often compared with FLN:
FLN vs. ILFFLN vs. BRFFLN vs. fllaFLN vs. BRAZFLN vs. FLLAFLN vs. EWZFLN vs. VOO
Often compared with AIRR:
AIRR vs. PAVEAIRR vs. XLIAIRR vs. RSHOAIRR vs. XHBAIRR vs. QQQAIRR vs. PSCIAIRR vs. CCOR

FLN vs. AIRR - Expense Ratio Comparison

FLN has a 0.80% expense ratio, which is higher than AIRR's 0.70% expense ratio.

FLN
First Trust Latin America AlphaDEX Fund
AIRR
First Trust RBA American Industrial Renaissance ETF

Return for Risk

FLN vs. AIRR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FLN
FLN Risk / Return Rank: 9494
Overall Rank
FLN Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
FLN Sortino Ratio Rank: 9393
Sortino Ratio Rank
FLN Omega Ratio Rank: 9292
Omega Ratio Rank
FLN Calmar Ratio Rank: 9696
Calmar Ratio Rank
FLN Martin Ratio Rank: 9494
Martin Ratio Rank
AIRR
AIRR Risk / Return Rank: 9595
Overall Rank
AIRR Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
AIRR Sortino Ratio Rank: 9595
Sortino Ratio Rank
AIRR Omega Ratio Rank: 9191
Omega Ratio Rank
AIRR Calmar Ratio Rank: 9797
Calmar Ratio Rank
AIRR Martin Ratio Rank: 9696
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.

FLN vs. AIRR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Latin America AlphaDEX Fund (FLN) and First Trust RBA American Industrial Renaissance ETF (AIRR). 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.

FLNAIRRDifference

Sharpe ratio

Return per unit of total volatility

2.34

2.23

+0.11

Sortino ratio

Return per unit of downside risk

2.86

2.92

-0.06

Omega ratio

Gain probability vs. loss probability

1.41

1.38

+0.03

Calmar ratio

Return relative to maximum drawdown

4.60

4.78

-0.19

Martin ratio

Return relative to average drawdown

14.39

16.89

-2.50

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FLN vs. AIRR - Sharpe Ratio Comparison

The current FLN Sharpe Ratio is 2.34, which is comparable to the AIRR Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of FLN and AIRR, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

FLNAIRRDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.34

2.23

+0.11

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.57

0.89

-0.33

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.35

0.79

-0.43

Sharpe Ratio (All Time)

Calculated using the full available price history

0.09

0.62

-0.53

Correlation

The correlation between FLN and AIRR is 0.38, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

FLN vs. AIRR - Dividend Comparison

FLN's dividend yield for the trailing twelve months is around 3.53%, more than AIRR's 0.16% yield.

TTM20252024202320222021202020192018201720162015
FLN
First Trust Latin America AlphaDEX Fund		3.53%3.40%6.26%4.17%5.57%4.70%1.64%1.91%3.08%10.28%1.06%2.34%
AIRR
First Trust RBA American Industrial Renaissance ETF		0.16%0.19%0.18%0.23%0.12%0.05%0.10%0.20%0.43%0.30%0.08%0.47%

Drawdowns

FLN vs. AIRR - Drawdown Comparison

The maximum FLN drawdown since its inception was -57.95%, which is greater than AIRR's maximum drawdown of -42.37%. Use the drawdown chart below to compare losses from any high point for FLN and AIRR.

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Drawdown Indicators

FLNAIRRDifference

Max Drawdown

Largest peak-to-trough decline

-57.95%

-42.37%

-15.58%

Max Drawdown (1Y)

Largest decline over 1 year

-11.42%

-13.09%

+1.67%

Max Drawdown (5Y)

Largest decline over 5 years

-25.95%

-27.95%

+2.00%

Max Drawdown (10Y)

Largest decline over 10 years

-57.75%

-42.37%

-15.38%

Current Drawdown

Current decline from peak

-5.74%

-9.09%

+3.35%

Average Drawdown

Average peak-to-trough decline

-19.07%

-7.50%

-11.57%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.65%

3.71%

-0.06%

Volatility

FLN vs. AIRR - Volatility Comparison

First Trust Latin America AlphaDEX Fund (FLN) has a higher volatility of 11.49% compared to First Trust RBA American Industrial Renaissance ETF (AIRR) at 10.92%. This indicates that FLN's price experiences larger fluctuations and is considered to be riskier than AIRR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FLNAIRRDifference

Volatility (1M)

Calculated over the trailing 1-month period

11.49%

10.92%

+0.57%

Volatility (6M)

Calculated over the trailing 6-month period

17.19%

19.67%

-2.48%

Volatility (1Y)

Calculated over the trailing 1-year period

22.97%

28.26%

-5.29%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.55%

25.07%

-2.52%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

27.73%

26.14%

+1.59%