FPA vs. FLTW

Last updated Jul 14, 2026

FPA (First Trust Asia Pacific ex-Japan AlphaDEX Fund) and FLTW (Franklin FTSE Taiwan ETF) are both exchange-traded funds - FPA is a Asia Pacific Equities fund tracking the NASDAQ AlphaDEX Asia Pacific Ex-Japan Index, while FLTW is a Taiwan Equities fund tracking the FTSE Taiwan RIC Capped Index. Both are passively managed. Over the past 5 years, FPA returned 9.93%/yr vs 19.89%/yr for FLTW. A 0.55 correlation means they provide meaningful diversification when combined. FPA charges 0.80%/yr vs 0.19%/yr for FLTW.

Performance

FPA vs. FLTW - 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 Franklin FTSE Taiwan ETF (FLTW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FPA achieves a 26.33% return, which is significantly lower than FLTW's 62.21% return.

FPA

• 1D: -5.43%
• 1M: -14.07%
• 6M: 18.65%
• YTD: 26.33%
• 1Y: 35.45%
• 3Y*: 22.92%
• 5Y*: 9.93%
• 10Y*: 8.60%

FLTW

• 1D: -4.27%
• 1M: -2.10%
• 6M: 53.72%
• YTD: 62.21%
• 1Y: 90.82%
• 3Y*: 38.51%
• 5Y*: 19.89%
• 10Y*: —

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

FPA vs. FLTW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund	26.33%	43.16%	3.95%	9.97%	-14.55%	2.98%	13.43%	8.91%	-21.91%	3.33%
FLTW Franklin FTSE Taiwan ETF	62.21%	32.00%	16.68%	30.05%	-27.51%	29.46%	29.77%	31.23%	-9.32%	-1.28%

Correlation

The correlation between FPA and FLTW is 0.68, 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	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (All Time) Calculated using the full available price history since Nov 6, 2017	0.55

The correlation between FPA and FLTW shifts across timeframes, from 0.55 (all time) to 0.68 (1 year), reflecting how their relationship changes across market environments.

FPA vs. FLTW - Sectors Allocation Comparison

Sectors	FPA	FLTW
Industrials	32.7%	3.3%
Technology	25.2%	78.7%
Consumer Cyclical	9.3%	1.5%
Financial Services	8.6%	11.2%
Real Estate	6.2%	-
Energy	5.4%	0.1%
Utilities	5.1%	-
Basic Materials	4.2%	2.5%
Consumer Defensive	2.7%	0.7%
Communication Services	2.6%	1.4%
Healthcare	0.8%	0.6%

Return for Risk

FPA vs. FLTW — Risk / Return Rank

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

FPA

FPA Risk / Return Rank: 45
FPA Sharpe Ratio Rank: 43
FPA Sortino Ratio Rank: 41
FPA Omega Ratio Rank: 46
FPA Calmar Ratio Rank: 44
FPA Martin Ratio Rank: 49

FLTW

FLTW Risk / Return Rank: 94
FLTW Sharpe Ratio Rank: 95
FLTW Sortino Ratio Rank: 91
FLTW Omega Ratio Rank: 92
FLTW Calmar Ratio Rank: 97
FLTW Martin Ratio Rank: 95

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.

FPA vs. FLTW - 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 Franklin FTSE Taiwan ETF (FLTW). 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	FLTW	Difference
Sharpe ratio: Return per unit of total volatility	1.22	3.04	-1.82
Sortino ratio: Return per unit of downside risk	1.72	3.41	-1.69
Omega ratio: Gain probability vs. loss probability	1.24	1.49	-0.25
Calmar ratio: Return relative to maximum drawdown	1.78	8.40	-6.62
Martin ratio: Return relative to average drawdown	6.60	23.15	-16.55

FPA vs. FLTW - Sharpe Ratio Comparison

The current FPA Sharpe Ratio is 1.22, which is lower than the FLTW Sharpe Ratio of 3.04. The chart below compares the historical Sharpe Ratios of FPA and FLTW, 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. FLTW - Drawdown Comparison

The maximum FPA drawdown since its inception was -52.91%, which is greater than FLTW's maximum drawdown of -38.00%. Use the drawdown chart below to compare losses from any high point for FPA and FLTW.

Drawdown Indicators

	FPA	FLTW	Difference
Max Drawdown Largest peak-to-trough decline	-52.91%	-38.00%	-14.91%
Max Drawdown (1Y) Largest decline over 1 year	-20.03%	-10.87%	-9.16%
Max Drawdown (3Y) Largest decline over 3 years	-20.66%	-26.45%	+5.79%
Max Drawdown (5Y) Largest decline over 5 years	-32.59%	-38.00%	+5.41%
Max Drawdown (10Y) Largest decline over 10 years	-52.91%	—	—
Current Drawdown Current decline from peak	-20.03%	-9.74%	-10.29%
Average Drawdown Average peak-to-trough decline	-13.46%	-8.40%	-5.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.39%	3.94%	+1.45%

Volatility

FPA vs. FLTW - Volatility Comparison

First Trust Asia Pacific ex-Japan AlphaDEX Fund (FPA) and Franklin FTSE Taiwan ETF (FLTW) have volatilities of 13.83% and 13.88%, 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.

Volatility by Period

	FPA	FLTW	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.83%	13.88%	-0.05%
Volatility (6M) Calculated over the trailing 6-month period	27.20%	26.69%	+0.51%
Volatility (1Y) Calculated over the trailing 1-year period	29.33%	30.09%	-0.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.01%	23.56%	+1.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.83%	22.35%	+0.48%

FPA vs. FLTW - Expense Ratio Comparison

FPA has a 0.80% expense ratio, which is higher than FLTW's 0.19% expense ratio.

Dividends

FPA vs. FLTW - Dividend Comparison

FPA's dividend yield for the trailing twelve months is around 3.84%, more than FLTW's 1.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FLTW Franklin FTSE Taiwan ETF	1.67%	2.51%	1.89%	2.85%	3.16%	2.31%	2.14%	3.00%	1.06%	0.00%	0.00%	0.00%
FPA First Trust Asia Pacific ex-Japan AlphaDEX Fund	3.84%	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 FLTW in my portfolio?

FPA and FLTW have a correlation of 0.68, 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 FLTW?

FLTW has higher volatility (13.88%) compared to FPA (13.83%). In terms of maximum drawdown, FPA dropped -52.91% vs FLTW's -38.00%.

Which ETF is better, FPA or FLTW?

On 5-year performance, FLTW leads with 19.89% vs 9.93% for FPA. On fees, FLTW is cheaper at 0.19% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FPA or FLTW?

Over the 5-year period, FLTW has performed better with a 19.89% return vs 9.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FPA or FLTW?

FLTW is cheaper with a 0.19% expense ratio, compared with 0.80% for FPA.

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

FPA has the higher dividend yield at 3.84%, compared with 1.67% for FLTW.

What is the main difference between FPA and FLTW?

FPA is categorized as Asia Pacific Equities, while FLTW is Taiwan Equities. FPA tracks NASDAQ AlphaDEX Asia Pacific Ex-Japan Index, while FLTW tracks FTSE Taiwan RIC Capped Index. They also come from different issuers: First Trust and Franklin Templeton. Their fees differ too: 0.80% for FPA and 0.19% for FLTW.

Which has better risk-adjusted returns?

FLTW currently has the higher Sharpe Ratio (3.04 vs 1.22), 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.