FLN vs. IMRFX

Last updated Jun 4, 2026

FLN (First Trust Latin America AlphaDEX Fund) and IMRFX (Columbia Global Opportunities Fund) are both funds - FLN is a Latin America Equities fund tracking the NASDAQ AlphaDEX Latin America Index, while IMRFX is a Global Allocation fund managed by Columbia. Over the past 10 years, FLN returned 9.85%/yr vs 5.99%/yr for IMRFX. A 0.52 correlation means they provide meaningful diversification when combined. FLN charges 0.80%/yr vs 1.15%/yr for IMRFX.

Performance

FLN vs. IMRFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Latin America AlphaDEX Fund (FLN) and Columbia Global Opportunities Fund (IMRFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FLN achieves a 11.67% return, which is significantly higher than IMRFX's 7.16% return. Over the past 10 years, FLN has outperformed IMRFX with an annualized return of 9.85%, while IMRFX has yielded a comparatively lower 5.99% annualized return.

FLN

• 1D: -2.00%
• 1M: -5.45%
• YTD: 11.67%
• 6M: 11.54%
• 1Y: 36.27%
• 3Y*: 16.20%
• 5Y*: 8.98%
• 10Y*: 9.85%

IMRFX

• 1D: 0.28%
• 1M: 2.82%
• YTD: 7.16%
• 6M: 7.47%
• 1Y: 19.49%
• 3Y*: 12.21%
• 5Y*: 3.38%
• 10Y*: 5.99%

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

FLN vs. IMRFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLN First Trust Latin America AlphaDEX Fund	11.67%	55.05%	-23.10%	29.68%	2.73%	-6.94%	-12.27%	27.22%	-8.31%	21.54%
IMRFX Columbia Global Opportunities Fund	7.16%	15.88%	7.46%	11.29%	-21.02%	6.25%	12.55%	15.62%	-7.03%	18.17%

Correlation

The correlation between FLN and IMRFX is 0.60, 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	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (10Y) Calculated over the trailing 10-year period	0.54
Correlation (All Time) Calculated using the full available price history since Apr 21, 2011	0.52

The correlation between FLN and IMRFX has been stable across timeframes, ranging from 0.52 to 0.60 - a consistent structural relationship.

Return for Risk

FLN vs. IMRFX — Risk / Return Rank

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

FLN

FLN Risk / Return Rank: 52
FLN Sharpe Ratio Rank: 50
FLN Sortino Ratio Rank: 46
FLN Omega Ratio Rank: 47
FLN Calmar Ratio Rank: 64
FLN Martin Ratio Rank: 53

IMRFX

IMRFX Risk / Return Rank: 48
IMRFX Sharpe Ratio Rank: 50
IMRFX Sortino Ratio Rank: 48
IMRFX Omega Ratio Rank: 52
IMRFX Calmar Ratio Rank: 41
IMRFX Martin Ratio Rank: 51

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. IMRFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Latin America AlphaDEX Fund (FLN) and Columbia Global Opportunities Fund (IMRFX). 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.

	FLN	IMRFX	Difference
Sharpe ratio Return per unit of total volatility	1.74	2.09	-0.36
Sortino ratio Return per unit of downside risk	2.31	2.92	-0.61
Omega ratio Gain probability vs. loss probability	1.30	1.40	-0.09
Calmar ratio Return relative to maximum drawdown	3.19	2.43	+0.77
Martin ratio Return relative to average drawdown	9.06	10.48	-1.42
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. IMRFX - Sharpe Ratio Comparison

The current FLN Sharpe Ratio is 1.74, which is comparable to the IMRFX Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of FLN and IMRFX, 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

	FLN	IMRFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.74	2.09	-0.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	0.31	+0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.36	0.58	-0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.08	0.62	-0.53

Drawdowns

FLN vs. IMRFX - Drawdown Comparison

The maximum FLN drawdown since its inception was -57.95%, which is greater than IMRFX's maximum drawdown of -45.67%. Use the drawdown chart below to compare losses from any high point for FLN and IMRFX.

Drawdown Indicators

	FLN	IMRFX	Difference
Max Drawdown Largest peak-to-trough decline	-57.95%	-45.67%	-12.28%
Max Drawdown (1Y) Largest decline over 1 year	-11.42%	-8.07%	-3.35%
Max Drawdown (3Y) Largest decline over 3 years	-25.23%	-10.19%	-15.04%
Max Drawdown (5Y) Largest decline over 5 years	-25.95%	-28.77%	+2.82%
Max Drawdown (10Y) Largest decline over 10 years	-57.75%	-28.77%	-28.98%
Current Drawdown Current decline from peak	-9.99%	0.00%	-9.99%
Average Drawdown Average peak-to-trough decline	-18.90%	-7.33%	-11.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.01%	1.86%	+2.15%

Volatility

FLN vs. IMRFX - Volatility Comparison

First Trust Latin America AlphaDEX Fund (FLN) has a higher volatility of 6.41% compared to Columbia Global Opportunities Fund (IMRFX) at 2.69%. This indicates that FLN's price experiences larger fluctuations and is considered to be riskier than IMRFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLN	IMRFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.41%	2.69%	+3.72%
Volatility (6M) Calculated over the trailing 6-month period	18.20%	7.73%	+10.47%
Volatility (1Y) Calculated over the trailing 1-year period	20.96%	9.36%	+11.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.59%	10.91%	+11.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.64%	10.42%	+17.22%

FLN vs. IMRFX - Expense Ratio Comparison

FLN has a 0.80% expense ratio, which is lower than IMRFX's 1.15% expense ratio.

Dividends

FLN vs. IMRFX - Dividend Comparison

FLN's dividend yield for the trailing twelve months is around 3.59%, less than IMRFX's 16.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FLN First Trust Latin America AlphaDEX Fund	3.59%	3.40%	6.26%	4.17%	5.57%	4.70%	1.64%	1.91%	3.08%	10.28%	1.06%	2.34%
IMRFX Columbia Global Opportunities Fund	16.68%	17.87%	0.47%	0.00%	6.62%	7.92%	4.40%	1.75%	0.35%	0.00%	2.77%	0.00%

Frequently Asked Questions

Can I hold both FLN and IMRFX in my portfolio?

FLN and IMRFX have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLN or IMRFX?

FLN has higher volatility (6.41%) compared to IMRFX (2.69%). In terms of maximum drawdown, FLN dropped -57.95% vs IMRFX's -45.67%.

Which has better risk-adjusted returns?

IMRFX currently has the higher Sharpe Ratio (2.09 vs 1.74), 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.