FPA vs. ADVE

Last updated Aug 2, 2026

FPA (First Trust Asia Pacific ex-Japan AlphaDEX Fund) and ADVE (Matthews Asia Dividend Active ETF) are both Asia Pacific Equities funds. FPA is passively managed, while ADVE is actively managed. Over the past year, FPA returned 31.34% vs 31.66% for ADVE. Their 0.70 correlation means they have sometimes moved together and sometimes differently. FPA charges 0.80%/yr vs 0.79%/yr for ADVE.

Performance

FPA vs. ADVE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Asia Pacific ex-Japan AlphaDEX Fund (FPA) and Matthews Asia Dividend Active ETF (ADVE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FPA achieves a 20.38% return, which is significantly higher than ADVE's 16.97% return.

FPA

• 1D: -1.70%
• 1M: -12.59%
• 6M: 3.07%
• YTD: 20.38%
• 1Y: 31.34%
• 3Y*: 20.19%
• 5Y*: 9.35%
• 10Y*: 7.79%
• ALL TIME*: 5.65%

ADVE

• 1D: -0.99%
• 1M: 1.67%
• 6M: 9.15%
• YTD: 16.97%
• 1Y: 31.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 19.19%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ADVE Matthews Asia Dividend Active ETF	$23.63K	$20.43K	$28.96K
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund	$239.16K	$447.30K	$694.81K

FPA vs. ADVE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund	20.38%	43.16%	3.95%	6.71%
ADVE Matthews Asia Dividend Active ETF	16.97%	26.12%	7.02%	4.58%

Correlation

The correlation between FPA and ADVE is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.76
Correlation (All Time) Calculated using the full available price history since Sep 22, 2023	0.70

The correlation between FPA and ADVE has been stable across timeframes, ranging from 0.70 to 0.76 - a consistent structural relationship.

FPA vs. ADVE - Sectors Allocation Comparison

Sectors	FPA	ADVE
Industrials	32.9%	11.5%
Technology	27.9%	30.8%
Financial Services	8.8%	28.9%
Consumer Cyclical	7.5%	5.9%
Real Estate	6.2%	3.2%
Energy	4.9%	0.8%
Utilities	4.6%	1.0%
Basic Materials	3.7%	3.8%
Consumer Defensive	2.8%	2.6%
Communication Services	2.6%	10.7%
Healthcare	0.8%	1.0%

Return for Risk

FPA vs. ADVE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FPA

FPA Risk / Return Rank: 39
FPA Sharpe Ratio Rank: 40
FPA Sortino Ratio Rank: 39
FPA Omega Ratio Rank: 41
FPA Calmar Ratio Rank: 34
FPA Martin Ratio Rank: 39

ADVE

ADVE Risk / Return Rank: 71
ADVE Sharpe Ratio Rank: 68
ADVE Sortino Ratio Rank: 67
ADVE Omega Ratio Rank: 72
ADVE Calmar Ratio Rank: 75
ADVE Martin Ratio Rank: 72

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FPA vs. ADVE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Asia Pacific ex-Japan AlphaDEX Fund (FPA) and Matthews Asia Dividend Active ETF (ADVE). 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.

	FPA	ADVE	Difference
Sharpe ratio: Return per unit of total volatility	0.99	1.57	-0.58
Sortino ratio: Return per unit of downside risk	1.47	2.22	-0.75
Omega ratio: Gain probability vs. loss probability	1.20	1.30	-0.10
Calmar ratio: Return relative to maximum drawdown	1.18	2.63	-1.44
Martin ratio: Return relative to average drawdown	4.12	8.94	-4.82

FPA vs. ADVE - Sharpe Ratio Comparison

The current FPA Sharpe Ratio is 0.99, which is lower than the ADVE Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of FPA and ADVE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FPA vs. ADVE - Drawdown Comparison

The maximum FPA drawdown since its inception was -52.91%, which is greater than ADVE's maximum drawdown of -18.41%. Use the drawdown chart below to compare losses from any high point for FPA and ADVE.

Drawdown Indicators

	FPA	ADVE	Difference
Max Drawdown Largest peak-to-trough decline	-52.91%	-18.41%	-34.50%
Max Drawdown (1Y) Largest decline over 1 year	-25.40%	-11.73%	-13.67%
Max Drawdown (3Y) Largest decline over 3 years	-25.40%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-32.03%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-52.91%	—	—
Current Drawdown Current decline from peak	-23.80%	-4.34%	-19.46%
Average Drawdown Average peak-to-trough decline	-13.48%	-3.24%	-10.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.28%	3.44%	+3.84%

Volatility

FPA vs. ADVE - Volatility Comparison

First Trust Asia Pacific ex-Japan AlphaDEX Fund (FPA) has a higher volatility of 10.93% compared to Matthews Asia Dividend Active ETF (ADVE) at 6.53%. This indicates that FPA's price experiences larger fluctuations and is considered to be riskier than ADVE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FPA	ADVE	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.93%	6.53%	+4.40%
Volatility (6M) Calculated over the trailing 6-month period	28.24%	17.43%	+10.81%
Volatility (1Y) Calculated over the trailing 1-year period	30.44%	19.66%	+10.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.27%	16.51%	+8.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.98%	16.51%	+6.47%

FPA vs. ADVE - Expense Ratio Comparison

FPA has a 0.80% expense ratio, which is higher than ADVE's 0.79% expense ratio.

Dividends

FPA vs. ADVE - Dividend Comparison

FPA's dividend yield for the trailing twelve months is around 4.03%, more than ADVE's 2.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ADVE Matthews Asia Dividend Active ETF	2.20%	2.97%	6.00%	0.37%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund	4.03%	4.71%	3.40%	3.02%	4.22%	5.12%	1.59%	3.90%	2.81%	3.15%	2.42%	1.74%

Frequently Asked Questions

Can I hold both FPA and ADVE in my portfolio?

FPA and ADVE have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FPA or ADVE?

FPA has higher volatility (10.93%) compared to ADVE (6.53%). In terms of maximum drawdown, FPA dropped -52.91% vs ADVE's -18.41%.

Which ETF is better, FPA or ADVE?

On 1-year performance, ADVE leads with 31.66% vs 31.34% for FPA. On fees, ADVE is cheaper at 0.79% per year. On volatility, ADVE has been the lower-risk option at 6.53%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FPA or ADVE?

Over the 1-year period, ADVE has performed better with a 31.66% return vs 31.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FPA or ADVE?

ADVE is cheaper with a 0.79% expense ratio, compared with 0.80% for FPA.

Which ETF pays a higher dividend yield, FPA or ADVE?

FPA has the higher dividend yield at 4.03%, compared with 2.20% for ADVE.

What is the main difference between FPA and ADVE?

They also come from different issuers: First Trust and Matthews. Their fees differ too: 0.80% for FPA and 0.79% for ADVE.

Which has better risk-adjusted returns?

ADVE currently has the higher Sharpe Ratio (1.57 vs 0.99), 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.