FPA vs. GRID

Last updated Jul 14, 2026

FPA (First Trust Asia Pacific ex-Japan AlphaDEX Fund) and GRID (First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund) are both exchange-traded funds - FPA is a Asia Pacific Equities fund tracking the NASDAQ AlphaDEX Asia Pacific Ex-Japan Index, while GRID is a Alternative Energy Equities fund tracking the Nasdaq Clean Edge Smart Grid Infrastructure Index. Both are passively managed. Over the past 10 years, FPA returned 8.60%/yr vs 18.65%/yr for GRID. At a 0.49 correlation, their price movements are largely independent. FPA charges 0.80%/yr vs 0.70%/yr for GRID.

Performance

FPA vs. GRID - 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 First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID). 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 higher than GRID's 19.10% return. Over the past 10 years, FPA has underperformed GRID with an annualized return of 8.60%, while GRID has yielded a comparatively higher 18.65% annualized 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%

GRID

• 1D: -1.86%
• 1M: -3.64%
• 6M: 16.16%
• YTD: 19.10%
• 1Y: 32.30%
• 3Y*: 20.54%
• 5Y*: 15.52%
• 10Y*: 18.65%

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

FPA vs. GRID - 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%	35.81%
GRID First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund	19.10%	29.65%	15.18%	21.57%	-13.89%	27.65%	48.84%	42.80%	-22.69%	27.44%

Correlation

The correlation between FPA and GRID is 0.65, 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	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (10Y) Calculated over the trailing 10-year period	0.54
Correlation (All Time) Calculated using the full available price history since Apr 20, 2011	0.49

The correlation between FPA and GRID shifts across timeframes, from 0.49 (all time) to 0.65 (1 year), reflecting how their relationship changes across market environments.

FPA vs. GRID - Sectors Allocation Comparison

Sectors	FPA	GRID
Industrials	32.7%	25.4%
Technology	25.2%	11.9%
Consumer Cyclical	9.3%	2.4%
Financial Services	8.6%	-
Real Estate	6.2%	-
Energy	5.4%	1.6%
Utilities	5.1%	4.0%
Basic Materials	4.2%	0.8%
Consumer Defensive	2.7%	-
Communication Services	2.6%	-
Healthcare	0.8%	-

Return for Risk

FPA vs. GRID — 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

GRID

GRID Risk / Return Rank: 58
GRID Sharpe Ratio Rank: 54
GRID Sortino Ratio Rank: 51
GRID Omega Ratio Rank: 52
GRID Calmar Ratio Rank: 69
GRID Martin Ratio Rank: 63

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. GRID - 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 First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID). 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	GRID	Difference
Sharpe ratio: Return per unit of total volatility	1.22	1.48	-0.26
Sortino ratio: Return per unit of downside risk	1.72	2.01	-0.29
Omega ratio: Gain probability vs. loss probability	1.24	1.26	-0.03
Calmar ratio: Return relative to maximum drawdown	1.78	2.77	-0.99
Martin ratio: Return relative to average drawdown	6.60	8.93	-2.33

FPA vs. GRID - Sharpe Ratio Comparison

The current FPA Sharpe Ratio is 1.22, which is comparable to the GRID Sharpe Ratio of 1.48. The chart below compares the historical Sharpe Ratios of FPA and GRID, 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. GRID - Drawdown Comparison

The maximum FPA drawdown since its inception was -52.91%, which is greater than GRID's maximum drawdown of -40.56%. Use the drawdown chart below to compare losses from any high point for FPA and GRID.

Drawdown Indicators

	FPA	GRID	Difference
Max Drawdown Largest peak-to-trough decline	-52.91%	-40.56%	-12.35%
Max Drawdown (1Y) Largest decline over 1 year	-20.03%	-11.73%	-8.30%
Max Drawdown (3Y) Largest decline over 3 years	-20.66%	-20.77%	+0.11%
Max Drawdown (5Y) Largest decline over 5 years	-32.59%	-29.64%	-2.95%
Max Drawdown (10Y) Largest decline over 10 years	-52.91%	-40.56%	-12.35%
Current Drawdown Current decline from peak	-20.03%	-8.84%	-11.19%
Average Drawdown Average peak-to-trough decline	-13.46%	-8.41%	-5.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.39%	3.63%	+1.76%

Volatility

FPA vs. GRID - Volatility Comparison

First Trust Asia Pacific ex-Japan AlphaDEX Fund (FPA) has a higher volatility of 13.83% compared to First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund (GRID) at 9.59%. This indicates that FPA's price experiences larger fluctuations and is considered to be riskier than GRID based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FPA	GRID	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.83%	9.59%	+4.24%
Volatility (6M) Calculated over the trailing 6-month period	27.20%	19.12%	+8.08%
Volatility (1Y) Calculated over the trailing 1-year period	29.33%	22.00%	+7.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.01%	21.51%	+3.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.83%	22.70%	+0.13%

FPA vs. GRID - Expense Ratio Comparison

FPA has a 0.80% expense ratio, which is higher than GRID's 0.70% expense ratio.

Dividends

FPA vs. GRID - Dividend Comparison

FPA's dividend yield for the trailing twelve months is around 3.84%, more than GRID's 0.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
GRID First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund	0.79%	1.01%	1.06%	1.23%	1.26%	0.63%	0.68%	1.26%	1.28%	1.07%	1.07%	1.23%

Frequently Asked Questions

Can I hold both FPA and GRID in my portfolio?

FPA and GRID have a correlation of 0.65, 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 GRID?

FPA has higher volatility (13.83%) compared to GRID (9.59%). In terms of maximum drawdown, FPA dropped -52.91% vs GRID's -40.56%.

Which ETF is better, FPA or GRID?

On 10-year performance, GRID leads with 18.65% vs 8.60% for FPA. On fees, GRID is cheaper at 0.70% per year. On volatility, GRID has been the lower-risk option at 9.59%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FPA or GRID?

Over the 10-year period, GRID has performed better with a 18.65% return vs 8.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FPA or GRID?

GRID is cheaper with a 0.70% expense ratio, compared with 0.80% for FPA.

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

FPA has the higher dividend yield at 3.84%, compared with 0.79% for GRID.

What is the main difference between FPA and GRID?

FPA is categorized as Asia Pacific Equities, while GRID is Alternative Energy Equities. FPA tracks NASDAQ AlphaDEX Asia Pacific Ex-Japan Index, while GRID tracks Nasdaq Clean Edge Smart Grid Infrastructure Index. Their fees differ too: 0.80% for FPA and 0.70% for GRID.

Which has better risk-adjusted returns?

GRID currently has the higher Sharpe Ratio (1.48 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.