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FPA vs. BKF
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FPA vs. BKF

Last updated Aug 2, 2026
Documentation

FPA (First Trust Asia Pacific ex-Japan AlphaDEX Fund) and BKF (iShares MSCI BRIC ETF) are both exchange-traded funds - FPA is a Asia Pacific Equities fund tracking the NASDAQ AlphaDEX Asia Pacific Ex-Japan Index, while BKF is a Emerging Markets Equities fund tracking the MSCI BRIC Index. Both are passively managed. Over the past 10 years, FPA returned 7.79%/yr vs 4.59%/yr for BKF. Their 0.61 correlation means they have sometimes moved together and sometimes differently. FPA charges 0.80%/yr vs 0.69%/yr for BKF.

Performance

FPA vs. BKF - 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 iShares MSCI BRIC ETF (BKF). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FPA achieves a 20.38% return, which is significantly higher than BKF's -5.84% return. Over the past 10 years, FPA has outperformed BKF with an annualized return of 7.79%, while BKF has yielded a comparatively lower 4.59% annualized 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%

BKF

1D
0.25%
1M
5.96%
6M
-8.08%
YTD
-5.84%
1Y
1.87%
3Y*
5.98%
5Y*
-1.50%
10Y*
4.59%
ALL TIME*
0.20%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

BKF

iShares MSCI BRIC ETF
$162.78K$258.13K$554.55K

FPA

First Trust Asia Pacific ex-Japan AlphaDEX Fund
$239.16K$447.30K$694.81K

FPA vs. BKF - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FPA
First Trust Asia Pacific ex-Japan AlphaDEX Fund		20.38%43.16%3.95%9.97%-14.55%2.98%13.43%8.91%-21.91%35.81%
BKF
iShares MSCI BRIC ETF		-5.84%22.30%9.24%1.27%-21.78%-11.87%16.52%22.93%-13.80%41.80%

Correlation

The correlation between FPA and BKF is 0.49, which is low. Their historical price movements had little consistent relationship.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.49

Correlation (3Y)
Balances recent behavior with more history.

0.55

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.52

Correlation (10Y)
Provides a long-term view across more market conditions.

0.59

Correlation (All Time)
Calculated using the full available price history since Apr 20, 2011

0.61

The correlation between FPA and BKF shifts across timeframes, from 0.49 (1 year) to 0.61 (all time), reflecting how their relationship changes across market environments.

FPA vs. BKF - Sectors Allocation Comparison

Sectors
FPA
BKF

Industrials

32.9%
7.7%

Technology

27.9%
9.0%

Financial Services

8.8%
25.2%

Consumer Cyclical

7.5%
17.8%

Real Estate

6.2%
1.3%

Energy

4.9%
6.5%

Utilities

4.6%
3.5%

Basic Materials

3.7%
7.4%

Consumer Defensive

2.8%
4.0%

Communication Services

2.6%
12.1%

Healthcare

0.8%
5.3%

Industrials

FPA
32.9%
BKF
7.7%

Technology

FPA
27.9%
BKF
9.0%

Financial Services

FPA
8.8%
BKF
25.2%

Consumer Cyclical

FPA
7.5%
BKF
17.8%

Real Estate

FPA
6.2%
BKF
1.3%

Energy

FPA
4.9%
BKF
6.5%

Utilities

FPA
4.6%
BKF
3.5%

Basic Materials

FPA
3.7%
BKF
7.4%

Consumer Defensive

FPA
2.8%
BKF
4.0%

Communication Services

FPA
2.6%
BKF
12.1%

Healthcare

FPA
0.8%
BKF
5.3%

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 Asia Pacific ex-Japan AlphaDEX Fund

iShares MSCI BRIC ETF

Often compared with FPA:
FPA vs. FSEAXFPA vs. VPLFPA vs. EPPFPA vs. ADIVFPA vs. FICSFPA vs. EWSFPA vs. FLKR
Often compared with BKF:
BKF vs. VWOBKF vs. FPADXBKF vs. SPYBKF vs. VOOBKF vs. FSPSXBKF vs. VBBKF vs. PRMSX

Return for Risk

FPA vs. BKF — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
FPA
FPA Risk / Return Rank: 3939
Overall Rank
FPA Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
FPA Sortino Ratio Rank: 3939
Sortino Ratio Rank
FPA Omega Ratio Rank: 4141
Omega Ratio Rank
FPA Calmar Ratio Rank: 3434
Calmar Ratio Rank
FPA Martin Ratio Rank: 3939
Martin Ratio Rank
BKF
BKF Risk / Return Rank: 1212
Overall Rank
BKF Sharpe Ratio Rank: 1212
Sharpe Ratio Rank
BKF Sortino Ratio Rank: 1111
Sortino Ratio Rank
BKF Omega Ratio Rank: 1111
Omega Ratio Rank
BKF Calmar Ratio Rank: 1212
Calmar Ratio Rank
BKF Martin Ratio Rank: 1212
Martin Ratio Rank
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. BKF - 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 iShares MSCI BRIC ETF (BKF). 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.

FPABKFDifference
Sharpe ratioReturn per unit of total volatility
0.99
0.06

+0.93

Sortino ratioReturn per unit of downside risk
1.47
0.19

+1.28

Omega ratioGain probability vs. loss probability

1.20

1.02

+0.17

Calmar ratioReturn relative to maximum drawdown

1.18

0.06

+1.12

Martin ratioReturn relative to average drawdown

4.12

0.13

+3.99

FPA vs. BKF - Sharpe Ratio Comparison

The current FPA Sharpe Ratio is 0.99, which is higher than the BKF Sharpe Ratio of 0.06. The chart below compares the historical Sharpe Ratios of FPA and BKF, 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

FPA vs. BKF - Drawdown Comparison

The maximum FPA drawdown since its inception was -52.91%, smaller than the maximum BKF drawdown of -70.29%. Use the drawdown chart below to compare losses from any high point for FPA and BKF.

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Drawdown Indicators

FPABKFDifference

Max Drawdown

Largest peak-to-trough decline

-52.91%

-70.29%

+17.38%

Max Drawdown (1Y)

Largest decline over 1 year

-25.40%

-15.45%

-9.95%

Max Drawdown (3Y)

Largest decline over 3 years

-25.40%

-18.60%

-6.80%

Max Drawdown (5Y)

Largest decline over 5 years

-32.03%

-40.90%

+8.87%

Max Drawdown (10Y)

Largest decline over 10 years

-52.91%

-49.20%

-3.71%

Current Drawdown

Current decline from peak

-23.80%

-23.74%

-0.06%

Average Drawdown

Average peak-to-trough decline

-13.48%

-28.09%

+14.61%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.28%

7.28%

0.00%

Volatility

FPA vs. BKF - Volatility Comparison

First Trust Asia Pacific ex-Japan AlphaDEX Fund (FPA) has a higher volatility of 10.93% compared to iShares MSCI BRIC ETF (BKF) at 3.84%. This indicates that FPA's price experiences larger fluctuations and is considered to be riskier than BKF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FPABKFDifference

Volatility (1M)

Calculated over the trailing 1-month period

10.93%

3.84%

+7.09%

Volatility (6M)

Calculated over the trailing 6-month period

28.24%

12.77%

+15.47%

Volatility (1Y)

Calculated over the trailing 1-year period

30.44%

16.03%

+14.41%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

25.27%

21.32%

+3.95%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

22.98%

21.67%

+1.31%

FPA vs. BKF - Expense Ratio Comparison

FPA has a 0.80% expense ratio, which is higher than BKF's 0.69% expense ratio.

Dividends

FPA vs. BKF - Dividend Comparison

FPA's dividend yield for the trailing twelve months is around 4.03%, more than BKF's 1.54% yield.

PositionTTM20252024202320222021202020192018201720162015
BKF
iShares MSCI BRIC ETF		1.54%1.79%2.37%1.68%2.04%2.93%1.02%1.66%2.33%1.51%1.82%3.15%
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

FPA and BKF have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FPA has higher volatility (10.93%) compared to BKF (3.84%). In terms of maximum drawdown, FPA dropped -52.91% vs BKF's -70.29%.

On 10-year performance, FPA leads with 7.79% vs 4.59% for BKF. On fees, BKF is cheaper at 0.69% per year. On volatility, BKF has been the lower-risk option at 3.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, FPA has performed better with a 7.79% return vs 4.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

BKF is cheaper with a 0.69% expense ratio, compared with 0.80% for FPA.

FPA has the higher dividend yield at 4.03%, compared with 1.54% for BKF.

FPA is categorized as Asia Pacific Equities, while BKF is Emerging Markets Equities. FPA tracks NASDAQ AlphaDEX Asia Pacific Ex-Japan Index, while BKF tracks MSCI BRIC Index. They also come from different issuers: First Trust and iShares. Their fees differ too: 0.80% for FPA and 0.69% for BKF.

FPA currently has the higher Sharpe Ratio (0.99 vs 0.06), 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.

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